Daily Energy Standup Episode #154 – UK’s Economic Outlook: Recession Looms While US Takes Lead in Clean Energy and Solar Auctions

Stuart TUrley: [00:00:15] Hey Everybody, Welcome to the Energy News Beat Podcast, My name’s Stuart Turley, President and CEO of the Sandstone Group this is the Daily Stand Up show. Today is June 29th and man, it is Thursday already what a crazy world we’re having. [00:00:32][17.2]

Stuart TUrley: [00:00:33] After you Like this Subscribe I’m not going to sound like a millennial smash that button or whatever. Just We are so thankful for all of our listeners in the great, wonderful feedback. Got a crazy show for you today <ichael’s on assignment. Is the UK heading for a recession 2023? Could be U.S. Treasury Sanctioned.the Wagner Group Unbelievable Weaponization Again. [00:01:01][27.7]

Stuart TUrley: [00:01:02] USA Grants 21 million for the development of clean energy solutions hey, Biden Administration may have got one right let’s find out. Green Groups outline how to boost electricity transmission without gutting environmental laws, this will not be fun. The Biden-Harris administration breaks a record breaking auction for solar development, I’ll tell you what, those are some headlines. [00:01:32][30.2]

Stuart TUrley: [00:01:33] Let’s go ahead and start with this, Is the UK heading for a recession in 2023? We like your feedback on that. What do you think? And also, what do you think about the US heading into a recession? One of the great articles that we’ve got here, The Bank of England attempt to realign a sustained period of uncomfortably high inflation, has prompted commentators to predict that the UK will fall into recession later this year. [00:02:03][30.4]

Stuart TUrley: [00:02:04] Despite a prolonged period of monetary tightening by the bank, consumer prices continued to rise by 8.7. Since core inflation strips out the effects of rising prices from energy, food, tobacco and alcohol hit 7.1%. [00:02:24][19.2]

Stuart TUrley: [00:02:26] Now I want to ask strips out the rising effects from energy, food, tobacco and alcohol, everything you need to live they strip out kind of funny. Alcohol sells well in a bad time no matter who’s or what’s going on, I thought that was really funny I got tickled at that. [00:02:45][19.4]

Stuart TUrley: [00:02:46] Ernest Nakao, head of research at Chard Capital, a recession in the UK appears to be all but set in stone. Inflation has proven to be more persistent than expected, leading the Bank of England to continue to raise interest rates. The similarity to the United States market is our Fed, I believe, is not competent in handling their situation. [00:03:11][25.5]

Stuart TUrley: [00:03:12] Our Fed is going to have two more high rate increases and the only way that we’re going to get out of not having a recession is to get our energy costs in line. Do you think the Biden administration can do that? Let us know. [00:03:27][14.7]

Stuart TUrley: [00:03:28] The U.S. Treasury Sanctions Wagner gold and weapons dealing operations in Africa. Holy smokes, I can’t believe this. The US Treasury Department on Tuesday announced new anti-Wagner Sanctions and a belated attempt to cut off the group’s weapon funding. At the moment, the Russian government has essentially pardoned the mercenary outfit for treasonous actions/ it remains unclear what role the Wagner will play in Russia. [00:03:59][31.3]

Stuart TUrley: [00:03:59] Well, he’s been ousted out to Belarus and that personally, I think that this was a little bit of a stunt to try to do some other things, but we’ll cover that in another show. Companies in Russia, the UAE, Central Africa Republic, have engaged in illicit gold dealings to fund the Wagner Group to sustain and expand its armed forces, including in Ukraine and Africa. [00:04:28][28.6]

Stuart TUrley: [00:04:29] First off, these guys may be a bunch of thugs, and I am not really thrilled with the idea of even thinking about supporting these guys. But there’s got to be another way for Secretary Yellen as a United States Treasury Department sanctioning this. This is not good Weaponization of the US Treasury Department is going to cause serious repercussions for the US dollar. I mean, down the road we got to get some new energy policies. We got to get some new financial and fiscal responsibility. Weaponizing the dollar is bad no matter if you’re Republican or Democrat, it’s. bad,. [00:05:11][42.1]

Stuart TUrley: [00:05:11] Here’s one for the Biden administration I do think is actually fairly good. USA grants over 21 million for development of clean energy solutions. Okay. We need to develop good, clean technology and then plan to put it into production. [00:05:29][18.1]

Stuart TUrley: [00:05:30] The quote out of this, The funding will address the core commercialization challenges while improving laboratory processes, creating accessibility to clean energy resources and enhancing connections to underinvested communities. The investment brings our nation one step closer to the Biden-Harris administration’s goal of lowering energy costs, creating good paying union jobs, and deploying clean energy. [00:05:59][28.3]

Stuart TUrley: [00:06:00] All of that is wonderful, what I am seeing in this in this article, please go to EnergyNewsBeat.com and take a look at the article. There is nothing in there that says this is actually what’s going to happen. The only good thing is nuclear solutions, hydro solutions but it’s a it’s one sentence. They pick one lab and they don’t tell us how much is in that lab for the NREL is the sole lab for the hydro hydro solutions,. [00:06:34][34.0]

Stuart TUrley: [00:06:35] Nuclear solutions, the Idaho National Laboratory and the Oak Ridge National Laboratory for the nuclear side of it is to provide a basis for the implementation of robust process for recycling use of nuclear fuel. I can sign off on all of that every day that is what we need in order to get this. There is an article that was just released out, The nuclear fuel the waste that’s put out still has 98% of its energy that is left in and viable if we could recycle that into a nuclear fuel, that’s exactly where the technology needs to be spent Grid solutions. Yes, the research needs to go there. [00:07:22][46.9]

Stuart TUrley: [00:07:22] Here’s where my problem is we as a country do not have checks and balance on any of this money. We don’t know that it’s going to be spent properly. I love the idea well done, Biden administration for trying, but I don’t see anything anywhere that says this will have some accountability. It’s like sending a ton of money to a foreign country with no strings attached and a lot of graft and money going everywhere what does that sound like? [00:07:53][30.1]

Stuart TUrley: [00:07:53] Here’s another one Green Groups outline how to boost electricity transmission without getting the environmental laws. I like this one because we need to supply the lowest kilowatt per hour to everyone on the planet. They need to everyone has the right to low cost energy that the markets can provide sustainable without printing money here is one advocate. As we envision a clean energy future, we must actively ensure that the buildout sacrifices none and serves all. I love that line. Sacrifices none and serves all, so if you sacrifice none, that means not printing money. [00:08:42][48.7]

Stuart TUrley: [00:08:42] Before recommending the solution, the coalition spells out the problem to accelerate the essential transition from fossil fuel power plants to renewable energy we need to build up more transmission to move clean energy across the country, in addition to scaling up local distributed clean energy resources. Okay, all that sounds great, but physics matter on this. [00:09:07][24.8]

Stuart TUrley: [00:09:08] So urgency cannot become a pretext for gutting the requirements of environmental review and public engagement as we embark on the greatest U.S. infrastructure buildout in nearly a century. That is a great line I love that line but will we listen and take note of both sides? I’m not feeling that we would if we both listen and we have a great conversation. I think it’s fantastic. Anyway, take a look at the article and let me know what you think. [00:09:41][33.7]

Stuart TUrley: [00:09:42] Biden Harris Administration Holds Record Breaking Auction for Solar Development. I found this one interesting. This record breaking auction for solar energy development is further evidence the demand for clean energy has never been greater. The technological advances, increased interest, cost-effectiveness and tremendous economic potential. These project make a reliable path diversifying our new nations in energy portfolio, Secretary Deb Haaland said. [00:10:16][33.9]

Stuart TUrley: [00:10:16] Here is migh get you please read this article. The problem is the waste from solar panels will be worse than all of the nuclear fuel that has ever been produced by 2050. We need energy tech to be able to recycle wind and solar or this is really not truly sustainable we have to be able to recycle. If you can’t recycle, you’re going to be making enough waste that nuclear is actually going to be better for the environment so think about that. [00:10:54][37.4]

Stuart TUrley: [00:10:54] So with that, if you are an industry thought leader, we’d love to have you on the podcast. I have a blast interviewing all of my great CEOs, Industry Thought Leaders, Authors. I’ve got some great ones coming around the corner. [00:11:09][15.2]

Stuart TUrley: [00:11:10] We’re releasing part two and three, have got some great folks lined up, so please reach out if you want to. And any presidential politician would love to come on the show, would love to talk to you and stay safe out there, Thank you very much. [00:11:10][0.0]

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