Daily Standup Top Stories
Asian wind power development isn’t moving fast enough
Due to climate imperatives, energy security challenges and geopolitical threats, the deployment of renewable energy capacity must be accelerated substantially over the coming years. Across the Asia-Pacific region, offshore wind power can play a large […]
Biden admin blocks more than 1.5 million acres from oil drilling after eco groups’ legal challenges
The Biden administration proposed a plan to lock up nearly 1.6 million acres of public lands from oil and gas development across western Colorado in response to multiple legal challenges filed by environmental groups. In a draft […]
Limited Recovery in Europe’s Industrial Gas Demand
Europe’s industrial gas consumers reversed some of their production curtailments in the second quarter of this year, but a significant recovery in industrial demand seems unlikely in the second half of the year as winter […]
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:07] Hello Everybody, Welcome to the Energy News Beat Daily Stand up. My Name is Stuart Turley, President and CEO of the Sandstone Group. Michael’s on assignment, or out goofing off I’m not sure which, but we’re ready to have some serious fun. [00:00:18][11.4]
Stuart Turley: [00:00:19] I’ll tell you what. It is just going bonkers around here. We sure appreciate everybody’s feedback everybody’s support. We’re now in 94 countries and it is going bonkers so thank you for everybody that’s Subscribing Smash that button as Michael would say. Smash the button Like us Subscribe. We’re on YouTube Podcast, YouTube, all of the other podcast channels. [00:00:48][28.4]
Stuart Turley: [00:00:48] And I just recorded an Episode with Doomberg. Mr. Doomberg the Beautiful Chicken came by the Podcast and I had a blast. I have some big names coming around the corner and this is going to be a lot of fun as well too but for today, I’ve got a lot of fun to talk about right now. [00:01:12][23.2]
Stuart Turley: [00:01:13] All right First Story up, Asian Wind Power Development isn’t moving fast enough that kind of really plays in here a little bit on China. Biden Admin blocks more than 1.5 million acres from oil drilling after ECOS group legal challenges in Colorado there’s a lot to this story. [00:01:41][27.8]
Stuart Turley: [00:01:43] Limited Recovery in Europe’s Industrial Gas Demand I got some inside baseball on this one. Occidental and Climeworks are big winners for Biden Allocate of Billions of Dollars of CO2. I got a hand handed out to Occidental we’re going to cover in some of that stuff and some investment stuff on it. [00:02:07][23.5]
Stuart Turley: [00:02:07] So with that, let’s go ahead and start off with Asian Wind Power Development isn’t starting Fast Enough. Here’s where this article is is great, Across the Asian Pacific region offshore Wind Power can play a large role in meeting rising Energy Demand while reducing emissions as governments work towards Net Zero targets. Wind energy can also be made to use net zero fuels like Green Hydrogen and Green Ammonia they can help decarbonize everything else, as they say. [00:02:47][40.3]
Stuart Turley: [00:02:49] So here is where I think it’s a little bit off. China President Xi yesterday said or on Monday he said they are bailing out of the paris Climate Accords because he does not see that renewable energy will make any difference on Climate Change. [00:03:15][26.3]
Stuart Turley: [00:03:16] That is an amazing statement for a guy that is supporting two coal plants a week. They’re increasing their coal and then they turn around and build all of the renewable there 70, 80%, depending on the mix of what they’re doing on world’s supply chain for renewable. [00:03:38][21.4]
Stuart Turley: [00:03:39] So in Asia, I think it makes sense to take a look at wind and solar on islands. If it does make a difference, let’s take Hawaii you’ve got to import all your coal you’ve got to import everything. That cost difference makes little it makes a big difference on not importing things on an island. [00:04:03][23.7]
Stuart Turley: [00:04:05] That being said, let’s come down into here and it says Last Year Asia replaced Europe as the largest regional offshore wind market by cumulative installations. But to counter that, they’ve also been increasing their LNG Exports because you need to have natural gas as a backup in order to stand up Wind and Solar on the Grid. [00:04:35][30.5]
Stuart Turley: [00:04:36] So it’s going to be pretty interesting we’re going to take a look. You’ve got a weird dichotomy going on in Asia and personally, I think that some of it’s good going all in is not. We need to use all forms of energy but not what they’re planning on doing. [00:04:58][22.3]
Stuart Turley: [00:04:59] The Biden administration blocked more than 1.5 million acres from oil drilling after eco groups. Legal challenges. This is in Colorado and, you know, Sandstone, got a lot of work in Colorado and we’ve enjoyed helping out folks and understanding the rules and regulations. [00:05:22][23.0]
Stuart Turley: [00:05:24] The Biden Administration Proposed a Plan to lock up nearly 1.6 million acres of Public lands from Oil and Gas Development across Western Colorado in response to legal challenges filed by environmental groups. It is just unbelievable to me. And I almost want to say on this, the BLM proposal comes after years of legal challenges and starting in 2015 with the Obama administration. [00:06:02][38.1]
Stuart Turley: [00:06:05] Here’s where it gets a little bit weird. Ho hum. This might not matter much because Oil and Gas is coming out of Colorado. EMP Operators are not wanting to do business in Colorado and that’s fine. Think about how much tax revenue is coming out of Colorado because of the UN favorable business models that they’ve been putting in due to the in the name of ESG. So lots of stuff going on there we’ll keep you posted on this. [00:06:45][40.2]
Stuart Turley: [00:06:46] But I don’t think the Biden Administration cutting out federal lands will impact much. And the reason for that is 50% of the Oil and Gas produced in the United States is off of privately held EMP Operators and those use regular leases. So big headline, but I’m not sure how much it will actually impact. [00:07:19][32.4]
Stuart Turley: [00:07:20] This next story coming around the corner is Limited Recovery in Europe’s Industrial Gas Demand. This one is really focused around Germany and the reason for that is Germany is the biggest economy in the EU. And they have actually been able to run off businesses because they can’t keep their power low enough we got some inside baseball on this one here in a little bit. [00:07:52][31.3]
Stuart Turley: [00:07:52] There’s nothing more to come now from our side, as much as we can foresee in the medium, medium term but I’m actually sure that companies will make similar announcements, Brudermuller said. [00:08:06][13.3]
Stuart Turley: [00:08:08] And he is Martin Brudermuller confirmed that BASF, a huge firm, is not planning any further closures. They just closed permanent closure of a fertilizer plant this is huge because of the high Natural Gas that affects Food Availability it affects all of the Natural Gas so you can split it off and roll it into Natural Gas. [00:08:37][29.1]
Stuart Turley: [00:08:38] So Germany has been Commissioned and they Decommission their last two Nuclear Reactors. They then add starting to import energy from France. France is only running at less than 25% of their reactors are online because of all the money that they have not spent. So this whole thing is all weaving together with the fact that this article is really showing that businesses have been leaving Germany due to no Natural Gas. [00:09:20][42.1]
Stuart Turley: [00:09:21] I have been visiting with some folks that have some solutions that are being worked on and we’re going to keep you posted on those solutions as we start getting some more inside baseball. And there are things that are going to help Europe and the United States and some really cool projects coming around the corner. [00:09:39][18.1]
Stuart Turley: [00:09:43] Occidental Petroleum this story is a hoot. Occidental Petroleum and Climeworks are big winners as Biden allocates billions for CO2 removal. Now, I want to give a shout out to Occidental Petroleum, over the last several years, they have spent big bucks in the CO2 removal and carbon capture and everything else. [00:10:12][28.9]
Stuart Turley: [00:10:13] This is got to be, in my opinion, why? Warren Buffett invested so much in Continental in Occidental Petroleum because of this money coming around to carbon capture. He probably knew I’m not saying it’s inside, you know, insider trading, but he had to have known this stuff was coming around the corner. [00:10:42][29.3]
Stuart Turley: [00:10:43] The U.S. Department of Energy is investing up to 1.2 billion in giant vacuums to suck carbon out of the air in an effort to slow Global Warming. Okay. The money from the Bipartisan Infrastructure Law will help fund to direct capture and system hub projects, one in Texas and one in Louisiana. They will eventually remove more carbon than per year than all the current projects combined. That’s huge. [00:11:19][36.1]
Stuart Turley: [00:11:20] There’s currently 18 direct air capture projects Globally but these would be the first commercial scale ones in the U.S pretty exciting. So when you take a look at Occidental Petroleum, they’ve done a fabulous job. They have really set themselves up for that Federal money, where also I think the ESG side of things is really helped out Occidental Petroleum Vicki Hollub has just led this right down the road. [00:11:56][36.4]
Stuart Turley: [00:11:59] She said on some of her investor calls. They are entering in a Multitrillion Dollar Industry here’s where it may slow down a bit is you can only print money for so long. But this is still something unbelievable to keep an eye on. My hat’s off to Occidental and Climeworks. Either they had insider trading and this is a joke. But, you know, Warren Buffett was way ahead of the curve on this. [00:12:31][31.5]
Stuart Turley: [00:12:31] I want to give a shout-out to all of my Podcast Guests we have some wonderful guests coming around the corner. I get to interview Dr. Patrick Moore again on Friday. He is coming back in and we’re going to be talking to him. [00:12:48][16.4]
Stuart Turley: [00:12:49] Also getting to visit with Gregory Wrightstone next month, he is a real jewel. I’ve got four or five others CEOs, Executives, Authors and just finished recording Doomberg today it will release next week and we’ve even got more things coming down the pike. [00:13:10][21.4]
Stuart Turley: [00:13:11] Thank you again for all of our wonderful supporters. We are so thrilled to help spread the word on all forms of Energy. “We need all forms of energy to deliver the lowest cost kilowatt per hour to all people on the planet so that we can help eliminate Energy Poverty and Poverty as a whole”. [00:13:32][20.9]
Stuart Turley: [00:13:32] But it’s got to have the least impact on the Environment and Sustainable through market and sustainability and not printing money. With that, I’ll let you get back to work. Hope you have a great day of meetings thank you all very much. Talk to you all soon for. [00:13:32][0.0]
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