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A Silent Threat To The Energy Transition: America’s Broken Infrastructure Policy
Authroed by Joshua Trott via RealClear Wire, On paper, the Inflation Reduction Act was a big win for America’s infrastructure and energy future: $550 billion in federal spending, with nearly $400 billion earmarked for energy […]
Klaus Schwab’s Daughter: ‘Permanent Climate Lockdowns Coming – Whether You Like It or Not’
The daughter of World Economic Forum founder Klaus Schwab has boasted that permanent ‘climate lockdowns’ are coming, whether people like it or not. According to Nicole Schwab, the COVID pandemic was a “tremendous opportunity” to […]
Billionaire Harold Hamm Sees a Great Oil Fortune Still Untapped in US Shale
(Bloomberg) — The first thing that greets visitors entering the headquarters of billionaire Harold Hamm’s Continental Resources Inc. is a 9-foot-long statue of a snarling bull named Boe. Boe — short for barrels of oil […]
Deadly cargo ship fire still burning on vessel carrying 500 electric vehicles in North Sea
The Hague, Netherlands — A fire on a cargo ship carrying more than 3,500 new vehicles was still burning Thursday in the North Sea a day after the Dutch coast guard said one crew member had […]
US oil industry giant warns Democrats’ green energy push fuels a ‘doomed’ economy
An American fracking and oil pioneer has cautioned that the Biden administration’s green transition means the end of the energy renaissance and economic prosperity. “If we don’t handle policy right on energy, then we’re doomed to repeat […]
Arizona driver says he was ‘trapped’ in hot Tesla after battery died
PHOENIX — A Peoria man says he was trapped in his Tesla in the extreme heat after the power died and he didn’t know how to escape. The ABC15 Investigators found dozens of drivers have […]
Highlights of the Podcast
00:00 – Intro
01:00 – A silent threat to the energy transition America’s Broken Infrastructure Policy
04:20 – Klaus Schwab’s Daughter Permanent Climate Lockdowns Coming, Whether You Like it or Not
08:33 – Billionaire Harold Hamm Sees a Great Oil Fortune Still Untapped in US Shale
10:57 – Deadly Cargo Ship fire still burning on a vessel carrying 3500 Electric Vehicles in North Sea
13:59 – U.S. industry Giant Warns Democrats Green Energy Push fuels, Quote, Doom Economy
15:51 – Arizona Driver says he was trapped in hot Tesla after Battery Died
18:00 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Michael Tanner: [00:00:07] What is going on Everybody, Welcome into a special edition of the Daily Energy News Beat Stand up here on this gorgeous Friday, August 4th, 2023. As always, I’m your humble correspondent, Michael Tanner, coming to you from an undisclosed location here in Dallas, Texas. [00:00:20][13.6]
Michael Tanner: [00:00:21] I’m going to make this one short, guys you stuck with this all week, We appreciate it. We’ve got our Weekly Recap coming up we’re Stu and I will cover and replay all of the top segments from the last week. It was a great week, solo show last night by myself Stu did one two nights ago, you’ve got two shows of us together. [00:00:35][14.4]
Michael Tanner: [00:00:36] Great week, guys, We appreciate you checking it out. As always www.EnergyNewsBeat.com It’s where all these stories come from. Check us out Stuart Turley Michael Tanner on LinkedIn. Questions@EnergyNewsBeat.com, Dashboard.EnergyNewsBeat.com I’m turning it over to the team though, on the Weekly Recap. We’ll see you Monday Folks. [00:00:51][15.3]
Stuart Turley: [00:00:52] This is not just about fossil it’s not just about Renewable Energy it’s about Energy. A silent threat to the energy transition America’s Broken Infrastructure Policy. Here are some numbers in this article, The Inflation Reduction Act was really a big win for America’s infrastructure and energy future, that is a misleading statement, as it had very little for the infrastructure and a lot for the renewable Wind, Solar and Storage. [00:01:29][37.1]
Stuart Turley: [00:01:30] Here’s the gadget. At the end of 2022, there are over 10,000 projects, most of them Wind, Solar and Batteries, waiting for permission to connect to the grid, up from 8,100 the year before, according to researchers at Lawrence Berkeley National Laboratory. Backlogged projects sitting in the queue represented 1,300 gigawatts of Solar, Wind and Battery. This is just nuts. [00:02:09][38.8]
Stuart Turley: [00:02:11] If anybody understands physics, you have to be able to balance out the Demands of Electricity by having intermittent, renewable and then balance it with online energy. This is one thing to get the Wind, the Solar Parks built and then you got to connect them but there is a backlog just to get them connected or approved. [00:02:41][30.7]
Stuart Turley: [00:02:44] The Inflation Reduction Act included hundreds of billions of Dollars for Solar Panels but if they can build new transmission lines at a faster around 80% of the emission reductions expected from that bill might not happen. [00:03:02][18.2]
Stuart Turley: [00:03:04] So, you know, it’s one thing to print money, it’s another to want to go to renewable, it’s another to sit there and say we want to have total guaranteed electricity and have it at low cost. You cannot have all of your cake and eat it, too, because you won’t even be able to bake the cake. [00:03:27][23.6]
Stuart Turley: [00:03:29] Some more sobering statistics, Interconnection roughly equals the installed capacity of the entire U.S. power plant fleet and just 21%, 14% of the capacity seeking connection from 2000 to 2017 has been built at the end of 2022. That’s just nuts. [00:03:56][26.8]
Stuart Turley: [00:03:57] We cannot we can print money, we can build the infrastructure for the Wind Farm and the Solar Farm but we don’t have the business processes to hook them to the grid. The U.S. has Billions good luck plugging them in. [00:04:17][19.5]
Stuart Turley: [00:04:17] Let’s go to the next story, Klaus Schwab’s Daughter Permanent Climate Lockdowns Coming, Whether You Like it or Not. Michael, before we get into this article, let me explain something to our listeners right now. [00:04:32][14.5]
Michael Tanner: [00:04:32] Explain them [00:04:33][0.2]
Stuart Turley: [00:04:35] Okay, The World Economic Forum, this is not me talking this is not conspiracy theory this is what they said. They are going to do a new world order and they are all about doing Climate Change. Now the people are just like Sweden is saying, hey, maybe we might want to look at this in cost of energy. The World Economic Forum is going to be doubling down, Climate Change folks are going to be doubling down. [00:05:11][36.0]
Stuart Turley: [00:05:11] Today also, they had a report where it is Gulfstream current could collapse in 2025, plunging Earth into climate chaos we’re actually bewildered. And then they’re also saying that we’re now a broiler for the Climate. Climate Change is no longer Climate Change we’re now broiling. [00:05:39][27.4]
Michael Tanner: [00:05:41] So there’s literally a quote here, What scares me and creeps me out about the World Economic Forum is when you get quotes like this. This is from the Klaus Schwab’s Daughter, What’s her name? Nicole Schwab. [00:05:52][11.0]
Stuart Turley: [00:05:53] Right. [00:05:53][0.0]
Michael Tanner: [00:05:53] So I see this as a tremendous opportunity to really have this great reset and use this to have huge flows of money in a way that’s not possible bla bla bla. “Opportunity to really have this great reset“. Oh, I got it. That sends chills down you foot, A great reset? I’m good on that. [00:06:15][21.8]
Stuart Turley: [00:06:15] Let’s go down here for just a little bit more, There were numerous examples of global maintaining social distancing, wearing masks, mass vaccination and acceptance of contract tracing applications for public health. [00:06:34][18.6]
Stuart Turley: [00:06:35] They did this in order to get it rolling and now they’re calling for a Climate Catastrophe as people are waking up and going, I can’t afford the renewable stuff they’re going to double down and go even worse you’re going to see a polarizing, even worse. [00:06:55][19.9]
Michael Tanner: [00:06:56] If you’re into work from home, you should applaud Climate Lockdowns. Oh. [00:07:03][7.0]
Stuart Turley: [00:07:04] No, no. Oh, why not? People are tired of wearing their bunny slippers and I’m going to ask you this right now. How many days was the longest days in a row that you went without a shower during COVID? [00:07:20][16.2]
Michael Tanner: [00:07:22] Yeah. Yeah. It’s one I’m not comfortable answering on this Podcast. [00:07:25][3.5]
Stuart Turley: [00:07:26] Right. You don’t want to go through that again, and I’m not being logged down again. I’m sorry it ain’t gonna happen. So. [00:07:35][8.8]
Michael Tanner: [00:07:35] But it’s interesting pairing but no, it is kind of scary with the World Economic Forum wants it’s not a joke, we cover it if only because these are their quotes people. They’re literally saying the great reset. [00:07:46][11.1]
Stuart Turley: [00:07:48] This is not us, and in the. [00:07:51][2.4]
Michael Tanner: [00:07:51] I wish it was I wish I wish this was a bit I wish we were doing a bit with the but not. [00:07:56][5.2]
Stuart Turley: [00:07:57] The point that I’m trying to make is we have the ESG bouncing back the investors are demanding their money. BlackRock has been quietly investing in Oil and Gas they’re going, Look, that’s a squirrel, and then they’re investing in Oil and Gas. So the Energy Hypocrisy, the Investing Hypocrisy it’s going to get worse. [00:08:26][28.5]
Michael Tanner: [00:08:27] Okay. So we call an Energy News Beat buffet. [00:08:30][2.3]
Stuart Turley: [00:08:33] Billionaire Harold Hamm Sees a Great Oil Fortune Still Untapped in US Shale. Michael, do you see how we’ve done all these stories in together? And I’m coming in with a really nice one here from Harold. [00:08:49][15.8]
Stuart Turley: [00:08:50] I was on the phone trying to work around with his scheduling, we’re getting Harold Hamm on the podcast we like awesome Harold Hamm. And this is pretty exciting when you sit here and think Continental, he and his family, “The future is bright“, said Harold during an interview with Bloomberg this month in the Oklahoma City office. [00:09:12][21.7]
Stuart Turley: [00:09:13] “I look at this as an industry that’s exciting with a lot of adventure and potential for making great wealth”. We certainly have seen some great days in shale, but we have a long way to go. Yay! So I’m pretty excited about this. [00:09:29][16.0]
Stuart Turley: [00:09:30] You also have Exxon and you have their purchase of Denbury. You start looking at all of this. They’re saying there’s a lot more in the Permian coming around the corner. So Hamm said it’s going to be a lot of fun there’s a thrill to it, like finding ancient wealth, this guy’s a rock star, so I can’t wait to target. [00:09:57][27.0]
Michael Tanner: [00:09:57] He is Old school Oilmen like, Hey, Data says one thing, Data says we’re we’re declining oil you know, we’re running out of oil in the Permian. We’re not finding, you know, all the data says one thing Harold Hamm. Drill, baby. I love it. It warms my heart. [00:10:15][17.5]
Stuart Turley: [00:10:16] It is. And, you know, he took Continental back private and. [00:10:22][6.0]
Michael Tanner: [00:10:23] To do this, to go wildcat, got to love it. [00:10:25][2.3]
Stuart Turley: [00:10:26] I love it. And I am all in. I couldn’t be happier that he’s. Oh, by the way, his new book, We’re going to be giving away five signed copies, four of Harold’s new book he’s signing for us. So as we get through this, we’re going to have a little contest for five sign books from Harold Hamm. [00:10:45][19.6]
Michael Tanner: [00:10:46] Got to get that man on a Podcast. [00:10:47][0.8]
Stuart Turley: [00:10:49] I’m already booking it. [00:10:50][1.3]
Michael Tanner: [00:10:51] Good. [00:10:51][0.0]
Stuart Turley: [00:10:51] Comming in. [00:10:52][0.2]
Michael Tanner: [00:10:52] That’d be a fun one. [00:10:53][0.8]
Stuart Turley: [00:10:53] Oh, it’s going to be a hoot. [00:10:54][0.8]
Stuart Turley: [00:10:55] Let’s go to the next one here, Deadly Cargo Ship fire still burning on a vessel carrying 3500 Electric Vehicles in North Sea. This one’s pretty disturbing I’ve had nightmares about the way that boat looks it’s an ugly looking box. [00:11:12][17.1]
Stuart Turley: [00:11:13] In fact, for our podcast listeners, if the producer can slide in one of the pictures here for our video, folks. But the box really looks more like a Star Wars one of those things going across the desert on pad of Wayne when Luke is there and they kind of goes along and rolls along its pretty ugly boat. I’d set fire to it if I had that ugly of a boat. [00:11:42][29.1]
Stuart Turley: [00:11:43] It’s called in from The Hague in Netherlands 3500 still burning. Here’s part of the problem is we’ve all seen the batteries once they get started, the Lithium Batteries, you can’t put them out with water. [00:11:59][15.3]
Stuart Turley: [00:11:59] The Coast Guard said it was working to save the vessel from sinking close to an important habitat for migratory birds. Boats and helicopters were used to get the 23 members off after they tried unsuccessfully, unsuccessfully to put out the blaze. I don’t think they’re going to be able to put that out and that ship is going to be kind of like a ghost pirate ship. [00:12:22][22.2]
Stuart Turley: [00:12:23] Currently, there’s a lot of vessels on scene to monitor. Get the hot dogs, get the s’mores, and try to at least have a decent campfire out of it they’re trying to make sure, I love this one. So we’re currently working out how we can make sure that the least bad situation is going to happen. I kind of really thought that one was pretty funny. [00:12:50][26.9]
Stuart Turley: [00:12:52] Here’s where it gets a little bit of a issue, I’m just throwing these numbers out out there in a SUV weighs, I believe, around 7,000 pounds or excuse me, a EV is around 7,000 pounds an SUV can weigh around 4,000 pounds. And F-150 gasoline type right, will weigh a 1,200 pounds less than the Ford Lightning that is a lot of weight on there. [00:13:29][37.3]
Stuart Turley: [00:13:29] So as that ship burns, think about how much toxins are going into the air. And then also as that thing sinks, this, I have a feeling, is going to be worse than any oil spill. When you start taking a look at the contaminants that are coming out of there. I’m not sure I’d like to get some numbers on it, but I’m also wondering if the news is going to cover it. So we’re going to keep an eye on that. [00:13:56][27.2]
Michael Tanner: [00:13:57] I just find this hilarious you got first article U.S. industry Giant Warns Democrats Green Energy Push fuels, Quote, Doom Economy. Alba is the American fracking and Oil Pioneer that was the American Oil Pioneer. We’ve got Continental chairman and founder Harold Hamm on Fox News today “Kudlow” quote is “Energy Independence it means world peace” hes quote, is it’s very important I’m a patriot I love America we produce something that’s very good we have to maintain that. [00:14:24][27.3]
Michael Tanner: [00:14:25] Basically, you know, I mean, in my opinion, it was his first opportunity to get out in front of the news cycle because now that Continental is no longer public, it’s private. He can say whatever he wants. So, you know, he’s definitely going to dive in on that. [00:14:41][15.5]
Michael Tanner: [00:14:41] He argued that, Even though President Biden has waged war on over the past the last three years, he says that Americans “Are not going for it”. He says EV sales are down, big companies are losing tons of money, ” The oil tycoon said, likely hinting at Ford’s recent multibillion dollar loss people are not going for it“. The American people don’t want it. [00:14:59][17.7]
Michael Tanner: [00:14:59] I don’t know if they don’t want that or not but what I do know is this EV stocks are getting pounded we know that oil and gas stocks are getting pounded I’m looking at my board right now, a lot of red. He’s coming out to make a push again luckily, he’s private they play by a different set of rules. [00:15:15][15.4]
Michael Tanner: [00:15:15] So he kind of comes out at a critique from from you can kind of come from the sidelines he can he can say whatever he wants and not necessarily need to be subjugated to it, to a board. He is the now he’s got creditors but, you know, he famously wrote a $1 billion check to his ex-wife I’ve seen a picture of that it’s kind of crazy. [00:15:37][21.8]
Michael Tanner: [00:15:38] But good for Harold Hamm getting out there it’s why he bought it, spending, you know, $20 billion to buy back Continental stock and also go on CNBC it’s the world’s most expensive time slot and I’m here for. [00:15:49][11.3]
Michael Tanner: [00:15:50] Next up. This is scary, guys, Arizona Driver says he was trapped in hot Tesla after Battery Died. We’re going to read a little bit of this guy. So this is in this is in Arizona, guys so obviously smoking hot, 112 degrees, A Peoria man says he was trapped in his Tesla in extreme heat after the power died didn’t even know how to escape. [00:16:08][17.7]
Michael Tanner: [00:16:08] Abc15 investigators found a dozen of drivers have filed complaints with the federal auto safety regulators, who are arguing or urging car owners learn how to manually get out an emergency. It’s definitely safety concerns one of the hotter days, 73. Okay, so this is all a scam because the dude was 73 year old. [00:16:22][13.4]
Michael Tanner: [00:16:22] Newsflash If you’re too stupid to get out of a car and have to learn how to get out of a car, just educate yourself a little bit, man. 73 years old, like I get it. You know, if this was a 25 year old, I think a little bit different. But the fact that this dude, 73, might be a little bit old on my book but he was stuck in his Tesla model Y in his garage back in June you feel bad for this is an old guy. I feel if Stu was here I’d I’d ask do when the last time he did this was but I only kid you feel sorry that’s not good. [00:16:53][30.5]
Michael Tanner: [00:16:53] I mean, all jokes aside, getting stuck in a hot car is not good. But you should just probably figure out how to, like, open your car, you know, to give you guys an idea you know, they say Tesla needs to address this I mean, this is an interesting quote. Car safety expert Norman Hubele it’s essentially a computer on wheels that runs on a battery that’s very true. [00:17:14][21.5]
Michael Tanner: [00:17:15] So I personally when I was in the market, you know, five years ago for a truck, I wanted something that more, you know, had the manual seat, something that was as little as electronics as possible so I could replace the stuff. [00:17:25][9.9]
Michael Tanner: [00:17:26] That’s the thing with these computers, you’re going to geek out all these cars. I think it’s great. I’m a computer guy at nine screens I’m looking at right now but what happens when they brake on a car? [00:17:33][7.3]
Michael Tanner: [00:17:34] We figured out that screens are cheap. Oh, another screen. 75 bucks. Stan, what about you? Real easy to get spun up on more screens. How easy is it to get spun up on some of these parts? It’d be super interesting to see how it goes. I’m. I would. I’d want an ejector seat. Where’s the James Bond ejector seat on this? Because I’m all for that. [00:17:34][0.0]
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