Daily Standup Weekly Top Stories
U.S. Legislators Attempt To Ban Oil And Gas Exports
Three U.S. legislators have proposed a bill that would reimpose a ban on U.S. crude oil exports on the ground that this would benefit coastal communities, U.S. energy consumers as a whole, and help the […]
Exxon Crushes Progressive Dreams That “Net Zero” Has Any Chance By 2050: It Would Mean Collapse In “Global Standard Of Living”
In a world of suffocating snowflakery, ESG hypocrisy and, well… Tranheuser Busch, a corporation telling the truth without fear of reprisals from the Open Society-funded virtue signaling cabal is rarer than an mRNA-injected, genetically engineered […]
Why Is Mexico’s President So Hostile To Solar Energy Investment?
Mexico is one of the best potential locations for solar energy generation in the world. It has great sun with minimal seasonal variability. On paper at least, Mexico is well-positioned to produce competitively priced solar-generated electricity. Over […]
Climate protesters dragged away from Shell shareholder meeting: ‘Go to hell!’
Climate change protesters were dragged away as they tried to storm the stage at Shell’s shareholder meeting Tuesday, while activist investors added pressure with a resolution demanding the global oil and gas giant beef up its emissions […]
Highlights of the Podcast
00:00 – Intro
01:29 – U.S. Legislator attempt to Ban oil and gas exports this would be a disaster
06:01 – Exxon Crushes Progressive Dreams That “Net Zero” Has Any Chance By 2050: It Would Mean Collapse In “Global Standard Of Living”
08:39 – Why Mexico’s president is so hostile to solar energy investment
11:57 – Climate protesters dragged away from Shell shareholder meeting go to hell
13:30 – Market Updates
17:16 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:15] Hey, Everybody, Welcome today is Friday, May 26. It is the Friday before Moral Day thank you very much. It’s been a fantastic week. We appreciate everybody’s feedback it has been a nutty, nutty week in the news in energy. [00:00:34][19.0]
Stuart Turley: [00:00:35] This is going to be a summary show of the best stories of the week but if you go to www.EnergyNewsBeat.com, there’s a couple really big stories that hit Biden and the administration is looking at producing some regulations to ban oil blocking U.S. oil drilling I’m not kidding you can’t buy this kind of entertainment. [00:00:59][24.5]
Stuart Turley: [00:01:00] And then we also have Georgia and nuclear rebirth arrives seven years late and $17 billion over cost that’s nuclear. If we’re going to get to carbon net zero, we got to have nuclear and we cannot be waiting on regulations. Also, top producers warn of divestment from oil and gas kind of scary. Anyway, have a happy, happy Memorial Day and we will see you guys next Tuesday so have a great time see you later. [00:01:28][28.0]
Stuart Turley: [00:01:29] U.S. Legislator attempt to Ban oil and gas exports this would be a disaster. Okay. Three U.S. legislators have proposed a bill that would re-impose a ban on U.S. crude oil exports on the ground, that this would benefit coastal communities. The energy consumers, U.S. and energy consumers as a whole and it will help the U.S. achieve its climate change goal no, it will bring the economy to its knees. [00:02:03][34.3]
Stuart Turley: [00:02:04] Let me give you a quote in here oil and gas companies continue to pad their pockets at the expense of American consumers and front-line communities, all while fueling our global climate crisis. Malarkey said, I got to go see who he said. [00:02:19][15.5]
Michael Tanner: [00:02:19] Malarkey. [00:02:19][0.0]
Stuart Turley: [00:02:20] Oh, yeah, Senator. [00:02:21][0.7]
Michael Tanner: [00:02:22] What a bunch of malarkey. [00:02:22][0.5]
Stuart Turley: [00:02:23] Oh, Our. Country is. [00:02:25][1.8]
Michael Tanner: [00:02:25] Oh, I’m so good. [00:02:26][1.2]
Stuart Turley: [00:02:27] I love this one. Our country is due for an oil change a ban on oil and natural gas exports overseas is a win for environmental justice for our economy and our planet. [00:02:42][14.8]
Michael Tanner: [00:02:45] This is another example of not thinking about the second order effects. It sounds all well and good oh my goodness. We export 4 million barrels of crude oil a day according to the EIA. You can look this stuff up, guys I’m looking at this right now. Okay,. [00:03:01][15.6]
Michael Tanner: [00:03:01] Well, if we ban that, then we’ll have 4 million barrels here at home what they don’t realize is the reason why we have to export that is for a few reasons lack of pipelines and guess what? Your favorite act, The Jones Act. [00:03:17][15.4]
Michael Tanner: [00:03:17] If we were to get rid of the Jones Act, you could very easily then navigate American crude oil from one part of the country to the other and not have to go run a pipeline. I mean, think about it you could get its oil from the Gulf of Mexico to California without having to import from somebody else but no American made ship is going to be able to do that if all of a sudden you remove The Jones Act from the equation this gets solved. [00:03:40][22.6]
Michael Tanner: [00:03:40] So, again, they’re not thinking about the second order effects here. And again, that’s just what bothers me. This is a it’s a press release they throw out a press release on his website who reintroducing this act? This is you killing me here, guys. [00:03:52][11.9]
Stuart Turley: [00:03:53] Hey, it’s even one more magnitude worse than that. [00:03:58][4.8]
Michael Tanner: [00:03:58] Third degree effects. [00:03:59][0.6]
Stuart Turley: [00:04:00] Third degree Okay, we’re on the third degree and even though I was a first degree black belt only, I didn’t get to the second order of black belt. Now, here’s. Here’s where it gets funky. The EPA has set up the regulations on our refineries to take the heavy crude, and we have not been able to update it so we have the light and sweet crude. [00:04:23][23.1]
Stuart Turley: [00:04:24] Guess what? Michael was killed the Keystone pipeline, which would have brought heavy oil down from the oilfields, ends up in Canada, which is actually ecologically better than using heavy oil from Venezuela, Iran, Russia, and we import all that. [00:04:44][19.9]
Stuart Turley: [00:04:44] So this is all a self in wounded foot, just like going hunting with Cheney. This is like going hunting with Cheney and shooting yourself, except we get you in the bohonkas. I mean, this is absolutely horrific! There’s a fourth order of magnitude it disrupts the entire global market. If you thought the rest of the world hated us now. [00:05:12][27.2]
Michael Tanner: [00:05:15] Yeah. I mean, because it’s not just as simple as, oh, those barrels will be spent here. There’s a reason why exporting exist in a in a quote unquote, free market. There’s a reason why goods have navigated to where they go, because it’s the most efficient route possible. And it no pun intended. It’s the most it maximizes it’s where the marginal benefits each the equals, the marginal cost, that’s where goods flow to. [00:05:39][24.1]
Michael Tanner: [00:05:39] Right. And this is not an argument of whether or not climate change or anything else this is a fact market issue. We’re not moving off of we’re going to go through some of this here in a second.. [00:05:51][11.4]
Michael Tanner: [00:05:51] And I mean. [00:05:51][0.4]
Stuart Turley: [00:05:52] Yes. [00:05:52][0.0]
Michael Tanner: [00:05:53] We all know Stu’s big on climate change, so we don’t need to reiterate that here. [00:05:56][3.8]
Stuart Turley: [00:05:57] Oh, no, This is this is all market baby Exxon crushes progressive dreams that net zero has any chance by 2050, it could mean the collapse in global standard of living kind of with what we just went along with on that last conversation one. [00:06:16][19.2]
Stuart Turley: [00:06:17] But this one has an interesting chart on it, Michael and if the producer Andy can slide this one in, if not, no biggie, Go to the website EnergyNewsBeat.com [00:06:26][9.4]
Stuart Turley: [00:06:27] Annual share of global CO2 emissions Michael look at that it’s the European Union. In 1750, they were 100% everything that was coal peat that was burning your neighbors, you know, that was Monty Python and the Holy Grail bringing out. [00:06:46][19.0]
Michael Tanner: [00:06:46] Well, one of my favorite. [00:06:47][0.9]
Stuart Turley: [00:06:48] Yeah, well, we saved two and saved them twice we’ll save them twice In the 1800s, the U.S popped in, but the China didn’t pop in until 1900. But look what’s happened in China since 2019 3050 they took off and went nuts china is making up for lost time and we’re going down. [00:07:14][26.1]
Stuart Turley: [00:07:15] So this is a telltale graphic here. Let me go into this next one in a world of suffocating snowflake re ESG hypocrisy and well, Tran Houser, Bush and corporate corporations tell the truth without fear of reprisals the open society virtue signaling career MRA injected generally engineered hen’s teeth. I’m sorry I got a chuckle out of that one I thought it was great. [00:07:51][36.1]
Michael Tanner: [00:07:52] It took me a little bit to figure out what they were saying it absolutely killed me. Oh, I love this Exxon says the prospect of the world achieving net zero carbon dioxide emissions by 2050 is remote, but should not be further evaluated in its financial statements. Dun dun dun. [00:08:06][14.5]
Stuart Turley: [00:08:07] I like the next line in here exxon disagreed with a shareholder. Exxon disagreed and said the world is not on a path to achieve net zero emissions in 2050 as limiting energy production to the levels below. Consumer demand would lead to a spike in energy prices, as observed in Europe following oil sanctions against Russia over Ukraine. This is like gold right here this is black gold. I mean. [00:08:37][29.8]
Michael Tanner: [00:08:38] That’s true. [00:08:38][0.2]
Stuart Turley: [00:08:39] Why Mexico’s president is so hostile to solar energy investment. Well, it’s kind of like when you get hit by a mule, you kind of don’t walk around that mule anymore and I think there’s some interesting things in here. You just said it in the intro. Michael, Mexico’s one of the best potential locations for solar energy generation in the world. [00:09:02][22.8]
Stuart Turley: [00:09:02] Has great sun, great beaches on paper, at least over the last decade, Mexico has successfully attracted billions of dollars in new investment in solar energy, but it has stalled during the president of Andres Manuel Lopez Obrador. Oh, I even said a name almost right. [00:09:23][21.2]
Stuart Turley: [00:09:24] Let’s come in here. Mexico has stopped issuing permits and canceled auctions for solar projects, effectively cutting off the flow of private investor money. Let me tell you about how much. [00:09:38][14.1]
Stuart Turley: [00:09:39] In 2017, Mexico received a whopping 35% of all renewable energy investment in Latin America. Today, they are only getting 7% mexico is going in the opposite this is a quote from Rivera Rivera revolt. Mexico is going in the opposite direction that the world is going in this is a missed opportunity mexico has absolutely outstanding wind and solar resources. This is bringing up some really big points not the whole world is going to solar and wind anymore. [00:10:20][41.3]
Michael Tanner: [00:10:21] And what’s interesting is, of all places, you would think Mexico, given its size, given its ability to actually get solar and transmit it, it seems to be easier to do that in Mexico than it would be in Alaska in the wintertime. Right. You know, whether seems to be fairly good. You know, again, they mentioned the minimal season viability. The fact is they’re not in on it says something. [00:10:46][25.2]
Stuart Turley: [00:10:47] It’s all it all comes down to the market, Michael. The solar can not by the time you try to add it to the grid, it just makes it too expensive. In Floral Mexico you know, they’ve had to federalize Petrobras in order to get them back into the the they got to make money. [00:11:07][19.4]
Michael Tanner: [00:11:07] Yeah. So the problem is Mexico has a really high cost of production what they do do a really good job of is hedging they have been one of the world’s most successful and well-renowned hedging programs that brings in a significant amount of government revenue. [00:11:19][11.7]
Michael Tanner: [00:11:19] Now, the problem is they’re actual it’s Pemex, not Petrobras, that’s Petrobras, Brazil bad, Pemex, notoriously terrible operator I mean, I’ll just go out and say it I’m sorry. I mean, they’re just they’re not they’re not that great. [00:11:33][13.5]
Stuart Turley: [00:11:34] No, no. Master Bajo in LA. [00:11:36][2.1]
Michael Tanner: [00:11:37] Well, this is a it’s a high cost operation and I you know, I haven’t heard of you know, I necessarily haven’t heard of the I, it’s somewhat correct me if I’m wrong, though, but I don’t think they’re drilling whoppers of wells over there in Mexico. I don’t even know they’re drilling to Mexico, to be honest with you. [00:11:56][18.9]
Stuart Turley: [00:11:57] Climate protesters dragged away from Shell shareholder meeting go to hell. I’m sorry. This one had a video with it out of the New York Post, but I just left it out of the story because we’re going to have our Mrs. producer, you know, fly in the picture because they’re just as funny as the video. Michael Shell Chairman Andrew Mackenzie could not start the meeting for more than an hour as dozens of protesters stood up shouting and saying, Shut down, shell, go to hell, Shell. [00:12:32][35.0]
Michael Tanner: [00:12:33] Hey, it’s catchy. [00:12:34][0.3]
Stuart Turley: [00:12:34] At least it is a doo doo doo doo doo doo doo. Okay, let’s take a look at the first one the first guy coming across that Mr. Producer is going to bring up is a guy lay in there looking at the camera and he’s looking at it, Michael. Everybody else is looks like they’re being held in terror as they’re they’re hostages. And then you look at this one guy going, I’m taking a nap I mean how do you be a protester like that? Then you take a look let’s go slide down. [00:13:02][28.0]
Michael Tanner: [00:13:02] You got like and then you’ve got like a Alladin on the right like just looks like he’s he’s took one too many edibles and is just chilling out like, oh, I’m biracial. Oh, I didn’t know this is what we were doing today. Oh, no. She said, get in the van. So I’m here. [00:13:16][13.5]
Stuart Turley: [00:13:16] Yeah. I’m wondering how much they got paid a banana, a cookie? I’m not sure. And then when you go to the next picture, this lady looks like she’s related to a donkey. I think. I don’t want to get in trouble shut down, Shell. Can you tell if she’s neighing or winning or. [00:13:37][20.5]
Michael Tanner: [00:13:38] I think it’s neighing. [00:13:39][1.4]
Stuart Turley: [00:13:40] Neighing [00:13:40][0.0]
Michael Tanner: [00:13:40] That’s the correct term. [00:13:41][0.8]
Stuart Turley: [00:13:41] Okay. And then let’s go to the next guy he is being hauled down he looks like just absolutely a hoop. Michael, what do you think this guy looks like? He did. He did something really bad. [00:13:53][12.0]
Michael Tanner: [00:13:54] This guy, I bet his a this guy just a pain in real life I bet. Like to get to the point where you’re going to get I mean, it’s just that’s bad. [00:14:02][8.2]
Stuart Turley: [00:14:04] For our podcast listeners he is being. [00:14:07][2.7]
Michael Tanner: [00:14:07] They’ve got him by his both his legs and his arms he’s literally on all fours they’re carrying him out. [00:14:12][5.0]
Stuart Turley: [00:14:13] Oh, yeah and none of these guys that are bouncing him are lightweights. [00:14:15][2.9]
Michael Tanner: [00:14:16] But yeah, the guy in the back is smiling a little bit he knows what’s going on. He’s like, This dude’s insane. [00:14:21][4.4]
Stuart Turley: [00:14:22] Yeah, he knows this picture is going viral. [00:14:23][1.8]
Michael Tanner: [00:14:25] Yeah, I’m going to be like he’s you know, exactly what he’s thinking I’m going to be on Energy News Beat later. [00:14:29][4.7]
Stuart Turley: [00:14:30] Oh, yeah. Hey, if you’re listening, Mr. Big Guy in the background, we want to interview you as you were tossing them out. So I’m. And then let’s go to the next one here, and then we’ll get to the real me to the story. [00:14:42][11.7]
Stuart Turley: [00:14:43] Ms.. Producer, Can you haul in that one lady and this one was a lot different. She’s in the in the room itself and there is a gentleman and she’s got her dress down. And I mean, they’re picking her up and she’s looking like she really could go to the bathroom. I’m sorry for saying that,. [00:15:02][19.7]
Stuart Turley: [00:15:03] But doesn’t it look like she’s a kid that is going I’ve got to go to the bathroom and her dad is talking to her right there and he’s like, if you don’t, I guarantee you he bought her one too many candy canes at the grocery store and she’s throwing a temper tantrum. [00:15:19][16.5]
Michael Tanner: [00:15:20] Okay. Oh, I don’t know what I don’t know what’s worse, that or the one below it where it’s the old lady who refuses to get up. [00:15:28][7.8]
Stuart Turley: [00:15:28] Oh, yeah and she’s screaming. I’m like, This is absolutely a hoot and yeah, I mean, you just got to love it. Now, here’s some things that are in here this is entertainment. [00:15:39][11.1]
Michael Tanner: [00:15:40] Why were they protesting? So that was funny but why were they protesting? [00:15:43][2.6]
Stuart Turley: [00:15:44] And the activist, including members from Greenpeace Extinction Rebellion, say Shell and other fossil fuel firms are making record profits at the cost of the environment. Nobody bothers to tell anybody two things, Michael record losses that it takes to get to this point of record profits and Michael, do you think any of those protesters had cell phones? [00:16:08][24.0]
Michael Tanner: [00:16:09] Yeah, they were all probably tweeting about it from there. [00:16:11][1.7]
Stuart Turley: [00:16:11] Yeah well, guess what? You got to have oil to get a cell phone. [00:16:14][3.3]
Michael Tanner: [00:16:15] Hello? Hello, McFly. Hello. All right. [00:16:18][3.5]
Stuart Turley: [00:16:19] I mean, you got to have oil in order to get normal society they’re missing the point. Let’s have a talk about how to get to carbon net zero in the fastest, most efficient way. But that’s for a whole nother story anyway, I got really tickled at this. [00:16:34][15.4]
Stuart Turley: [00:16:35] Yeah. I mean, it’s it’s you’re going to start seeing a lot more of this some surprises. You know right now it’s in the UK. It makes sense, but it’s only a matter of time before it’s Chevron. They’re going to be doing it in at Chevron I mean, this is this is coming to America. As soon as Soros gets a good idea, he’s going to be bands and people to do it. [00:16:52][16.5]
Stuart Turley: [00:16:53] Hey! Thank you for listening in the Energy News Beat Stand Up thank you to all of our wonderful listeners our show is just going off like you would not believe. Like, Subscribe, Tell your neighbors, Tell your neighbors again, and then vote early, vote often and thank you and we look forward to being decent. [00:16:53][0.0]
