Daily Energy Standup Episode #149 – Shifting Tides: African Countries and Others Spearhead ‘De-Dollarisation’ Amidst Trade Shifts and Green Energy Demands

Rising demand for electricity generated by wind and solar will create more need for natural gas infrastructure to prevent blackouts, Williams Cos. (NYSE:WMB) CEO Alan Armstrong told the Financial Times in an interview, in comments that contradict […]

Climate activists forcibly dragged from event with Biden energy secretary Jennifer Granholm

June 20, 2023 Mariel Alumit

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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] Hello, Everybody Welcome to the Energy News Beat Stand up Daily Show, My name’s Stuart Turley, President and CEO of the Sandstone Group, Man Michael is out on assignment we got a fantastic day for you here. [00:00:26][11.2]

Stuart Turley: [00:00:27] I got some interesting stories that are going around the world and I’d like to say thank you to everybody that is listening to the podcast from around the world. We’re in 85 countries now and they’re very pleased with all of the feedback. So reach out, ask us questions we want to make sure we get all of them answered. So with that, all these stories are on Energynewsbeat.co or dot com, and let’s get ready to rumble. [00:00:54][27.9]

Stuart Turley: [00:00:55] We’re going to talk about today Why are African Countries and others pushing for dollarization and trade in the currency other than the USD pretty interesting little story there we also have let’s see here it is Climate Activist forcibly dragged from event with Biden Energy Secretary Jennifer Granholm it’s actually got a embedded tweet in there and it is really pretty funny. We’ll cover that here in a sec. [00:01:28][33.2]

Stuart Turley: [00:01:29] Next coming around the corner is we have U.S. Green Energy Shift and will need more natural gas the Williams CEO says, I’ll tell you what I’ve worked as a contractor selling things to Williams they are a top notch organization, bunch of good people. So. All right let’s come around the corner here to Weak European industry is keeping their gas demand depressed, little interesting on that one. [00:01:58][28.8]

Stuart Turley: [00:01:58] So next one, a Booming population tests the Texas grid, I’m sitting here in Texas kind of worried about it and then last one, Blinking ruffles feathers by stating U.S. does not support Taiwan independence after meeting with President Xi, you got to love a politician. [00:02:21][22.7]

Stuart Turley: [00:02:22] Okay, here we go, first one coming around the corner here in New Delhi out of New Delhi interview to the print. The South African High Commissioner to India spoke out against the domination, the U.S. dollar USD in the world economy. He was not the first to question the United States USD not just Africa other global leaders from developing countries have joined the call to dollarization of trade, which means trade to be carried out in between two countries in currencies other than the USD. [00:03:01][38.5]

Stuart Turley: [00:03:02] BRICS is probably one of the and BRICS Plus is the biggest thing. But the number one problem that I’ve been even talking about, Michael has been talking about De-dollarization is not new India. In the Soviet Union, the USSR have been conducting trade in the ruble. [00:03:20][18.0]

Stuart Turley: [00:03:21] India and Russia special operation in Ukraine 2022 has established their re ruby ruble trade system to avoid purview of Western sanctions in Russia, pretty important. But in this article from the Print.In they bring it up the critical piece for around the world is it’s either going to go to the Chinese and they’re afraid of it for the same reasons that the United States weaponized the dollar. By weaponizing the Dollar the United States has brought this on ourselves can’t get any smarter than that. [00:04:04][43.1]

Stuart Turley: [00:04:04] Okay. As we come around the corner here, Climate Activist forcibly dragged from the event with Biden Energy Secretary Jennifer Granholm, I mean, I got really tickled that this. Group of climate activists were forcibly removed from an event on Monday in eastern Michigan where Energy Secretary Jennifer Granholm spoke about the Biden Administration Green Energy. [00:04:32][27.5]

Stuart Turley: [00:04:33] And they stood up and you got to watch the video. No MVP, No LNG Granholm you’re killing me. And in the video, it is really funny because they are chanting this and then the they have to stop and they huddle up and they try to and then they start trying to go again. [00:04:54][21.1]

Stuart Turley: [00:04:55] If you’re going to be an activist, at least have your lines practiced so you can even say that one line anyway, you got to watch it anyway. You see them start rolling out after that and they’re carrying them out. It is Absolutely.. one of the gentlemen that come out and looks at this is got a very thin little mustache. I can’t complain, I can’t poking fun at myself about how people look. But he is hilarious. [00:05:26][31.1]

Stuart Turley: [00:05:27] Granholm has made her decision pretty clear. She has chosen the fossil fuel corporations and money over young people and the people of Michigan. She has chosen money and destruction over land and water and our lives. She’s not with mission angers Mission Defenders and not with us. Let’s try to all get along as that one gentleman said from California why can’t we all just get along? [00:05:55][27.4]

Stuart Turley: [00:05:55] Natural gas is very important in order to get to carbon net zero or have low cost energy. You can support natural gas and the oil industry because you got to have it it’s not optional. Turn in all your phones, turn in everything go get a tent, go live in sugar in San Francisco if you don’t want to use any oil that’s about the only way that I know. And then even your own your tent is made with oil products. [00:06:30][34.6]

[00:06:31] The next story kind of brings this up. The U.S. Green Energy Shift will need more natural gas the Williams CEO says. Rising demand for electricity generated b Wind and Solar will create more need for natural gas infrastructure to prevent blackouts. Williams CEO Alan Armstrong told the Financial Times in an interview in his comments it contradicts policies that aim to phase out fossil fuels, such as natural gas and power grids. [00:07:05][34.0]

Stuart Turley: [00:07:06] This is just unbelievable, here’s the quote it’s great to have renewables we’ll be able to continue to reduce emissions and the amount of gas that we burn, that fossil fuels we burn. But it does not change the need for incremental gas capacity as we electrify, that’s a wonderful statement. And here’s the other one Armstrong also supports the climate activist who opposed Hydrogen and Carbon capture for good reasons. [00:07:33][27.3]

Stuart Turley: [00:07:34] Because plants to make Hydrogen and capture the CO2 would themselves consume significant amounts of electricity. You throw electricity demand from hydrogen and carbon capture into that you’re going to way outpace your ability to build renewables. So do you want renewables? Do you want to get there? Do you want to go cold turkey? Let’s have a discussion that’s what it’s all about have a plan and you’re not going to get there without the oil and the gas you got to have the plan. Anyway, hats off to Williams companies great leadership, great numbers. [00:08:12][38.0]

Stuart Turley: [00:08:13] So let’s roll over here to Weak European Industry is keeping gas demand Depressed. I found this one fairly interesting from Bloomberg demand for the fuel in Germany, Italy, the Netherlands, France, Spain and the U.K. fell 9.7% in May from a year earlier, according to the S&P global community. That means consumption is lower than levels in the past year. [00:08:42][29.4]

Stuart Turley: [00:08:43] A lot of that is due to the drop in business, drop in manufacturing, which is a snowball for a complete disaster in their economy. So which is better use more natural gas lose your economy, more natural gas people starve or they don’t if you don’t have a natural gas, they starve. And don’t forget natural gas is very important in making plastics. It’s also natural gas is very, very important in making fertilizer. [00:09:19][36.4]

Stuart Turley: [00:09:20] All right. Let’s go around to the next one here, Booming population Texas grid, this one is absolutely amazing to me. We are Texas is growing a lot our tax revenues are up our whole state, we are using a lot of wind. We’re using a lot of solar, we use nuclear, we use coal, we use natural gas. I think we’re down to one coal plant I could be wrong on that I’ll have to go fact check myself. [00:09:51][30.9]

Stuart Turley: [00:09:53] State Representative Brooks Land grabs Kevin Sparks and a utility company official from Plano says it’s an uncomfortable situation try sitting in your house with no electricity at 108 degrees. I’m disappointed by the forecast presented in the ERCOT report which indicates as a potential strain on our power grid and the threat of brownouts this Summer. [00:10:18][25.5]

Stuart Turley: [00:10:20] I remain committed to working closely on the state leaders, the Public Utility Commission and ERCOT in order to minimize the threat of brownouts and ensure that our state’s power grid is prepared to meet the demands of the summer. [00:10:34][14.1]

Stuart Turley: [00:10:34] Here’s where Texas is a bit different is that the state legislature has just approved more funding for natural gas power plants. Natural gas power plants coming on line means that we can keep our wind and our solar and keep those moving as best we can. Maintenance and the ability to go ahead and see about keeping the cost down. Costs in I just saw in here a few minutes ago cost for power in Texas is average I believe $0.12 per kilowatt hour. And then you have people in California paying $0.27. [00:11:15][40.6]

Stuart Turley: [00:11:17] So you start taking a look at how the ERCOT Texas Energy they’re using all types of energy. They’re paying half of what California is paying for energy. There’s got to be something there it’s not an accident. [00:11:30][13.0]

Stuart Turley: [00:11:31] Okay let’s go over here to the last one, this one is very concerning, Blinken ruffles feathers by stating U.S. does not support Taiwan independence after meeting with China`s Xi. That one raised at least one of my eyebrows and I’m trying to sit here and think this is going to send a message around the world that the United States will not stand with any of our allies we are not trustworthy. [00:12:05][33.9]

Stuart Turley: [00:12:06] So with that, you got to love it and well done and with that, we are going to have a fantastic day today, guys. Please go out, hug somebody, hug a cop, hug your, spouse, hug anybody in your family and have an absolutely wonderful day. Subscribe Like it leave only five star reviews and again, we thank you, everyone for that. Is listening to our podcast and giving us the wonderful support we do appreciate it, from Michael Tanner and Stuart Turley. Thanks and we’ll see you again on Thursday. [00:12:06][0.0]

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