Daily Energy Standup Episode #211 – India’s Role, Fossil Fuel Protests, and Economic Warnings

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Highlights of the Podcast

00:00 – Intro
02:50 – India Is Indispensable To Putin’s Plans To Develop Russia’s Far Eastern Region
06:37 – Tens of thousands rally in New York demanding to end fossil fuels
10:42 – What keeps the lights on? Ed Ireland’s Substack
15:12 – Ten red flags, a warning for a looming recession
19:23 – New York urgently needs to confront the contradiction to trying to electrify everything while also eliminating fossil fuels
21:20 – 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] Hello, everybody. Welcome to the Energy News Beat podcast, Daily Edition. Today is September 19th and it is Tuesday. You’re going to have a great day to day. Got some great stories for you. Michael’s out on assignment. Yeah, we got some fun to have here and try to have a little fun. India. First story coming around the corner. India is indispensable to Putin’s plans to develop Russia’s far eastern region. There’s some things in here that I did not know, and I have to give a shout out to Andrew Corey Corbo and Korybko. I apologize for butchering your name, Andrew, but he’s got it right out there. It’s a great story. Then we have coming around the corner. Tens of thousands rally in New York demanding end to fossil fuels. I think we should. Let’s just end all fossil fuels in New York. Cut everything off. I think it’d be kind of fun. [00:01:15][59.5][00:01:15] So let’s go ahead and go to the next one. Ed Ireland. I want to give a shout out to Ed Ireland. His Substack article What Keeps the Lights On? Ed Ireland’s Substack. We’ll put his Substack link in the show notes. Please follow him. Then we have another one. So if we have geopolitical things going on, then we have tens of thousands of people rally in New York City and they are wanting to get rid of fossil fuels. Then we come back in with what’s actually keeping the lights on. Then here’s the next story. Ten red flags warned of looming recession. Let’s kind of see how that goes. But then we have one last article. New York urgently needs to confront the contradiction of trying to electrify everything while also eliminating fossil fuels. And you can see how all of these kind of roll on in. And before I get started, all these stories are on energynewsbeat.com. Please subscribe, like share with your friends, share with your dog and read to your dog before bedtime. And we are now in 107 countries and we are averaging about 160,000 downloads a day. That does not include the views on our website with the transcriptions. We are going through the roof. That’s about 4 million right now. So on that number. [00:02:50][94.2]

[00:02:50] So let me start with this, Andrew. His Substack notes will be in here as well. There’s a couple of quotes that are going on in here. Putin actually went to the Eastern Economic Forum, and this is an eye opener. Let’s see here North Korea. Our buddy Kim over there, he had a trip to Russia, but he also it was overshadowed by the annual Eastern Economic Forum, the ETF. Like we need some other kind of acronym. And you know, with the WEF, those are bunch, not heads. Okay. So when we take a look at Russia and North Korea, they’re looking at doing weapons exchanges. But this is where it gets kind of interesting. Their resource for the VLAD a basket is a Chanel maritime corridor, the v c emcee to speed up the shipping of coking coal. This is very important as we get down further. The resource is for forging steel. India has ramped up its purchases from Russia by 700%, with plans in the pipeline to double that number in the coming future. Coking coal is more expensive than regular coal because of the thermal dynamics of that coal. It will allow for hotter temperatures and so that you’re able to reach out there and then create things like cement, steel. And you can’t do that with green energy because the physics don’t are not there yet. They may be there in some time period. But let’s see here it comes down in a year. So this China is the number one steel manufacturer. India has now stepped up into number two. North Korea has really stepped into the relationship with Russia, North Korea and China. So we have BRICS that have now all come around into the rest of the world. Saudi Arabia has been in the second wave. You’re seeing all of this come in. But it’s not just oil and gas, it’s coking coal, it’s steel, it’s massive trade, and it’s coming in all without the United States. Let’s see here. India has done a great job with avoiding a Cold War and taking care of India first. China. China’s taking care of China first. And Russia is taking care of Russia first. What do you think is going on? They’re all working together and we’re being the the kid on the sideline and nobody’s picking us to play dodgeball. So there’s some quotes in here that are just crazy. President Putin’s keynote speech at the EDF and the insight he shared during the question and answers afterward were on the Kremlin Web site. They do confirm that he wants the largest number of countries possible investing in Russia’s far eastern region in order to turbocharge its development. China, Russia and North Korea are now binding together, and they’re now supporting India and the rest of the world in that area. The United States is no longer relevant in this area. So let’s go ahead and go to the next story. Let’s go to the next uplifting story here. [00:06:37][226.9]

[00:06:37] Tens of thousands rally in New York demanding to end fossil fuels. All right. I just drove through West Texas on Sunday to my office. I had to go back to Fort Worth for meetings and then I drove back. All three of those trips to West Texas had zero wind power coming on. Absolutely zero. Texas is the largest wind producer in the United States. So we’ve talked about the physics. We’ll go into that here in a little bit. Protesters from 700 organizations and activist groups took part in the Sunday rally. Fossil fuels are killing us. And I didn’t vote for fires and floods. We’ve talked about the fires. I’m trying to get a fire expert on the phone. He has investigated several thousand fires. And of those seven of those thousands of fires, only three were from natural causes. So they are not looking to the real reasons for the fire. We hold the power of the people, the power you need to win this election, said 17 year old Emma Beretta of Brooklyn of the Youth Protesters group. If you want to win in 2024, if you do not want the blood of my generation to be on your hand in fossil fuels, I’ll go on record right now. Let’s cut off all fossil fuels to everybody in New York. Let’s just cut it off. Let’s also take a look around at everything that’s built in your house. No more shipping in, no more food deliveries, no more rare earth critical minerals. You have no more cars, you have no more EVs. You won’t have any lights. That means that while the LNG that’s imported from Russia can’t come in. So then you have all of the oil, the Northeast in England actually use a lot of heating oil still. So the only power that is going to be used is nuclear. I’m all in. I think that we should I think we need to cut New York City off and we need to then cut the entire state because Governor Hochul is wanting to do the same thing. Governor Hochul we talked about on other shows says that the power is going to go up. Everybody’s power in New York is going to go up by 10%. So next year it’s going to go up another ten. So you’re 20% in the next two years and it could go 100% increase by 2050. Let’s go ahead and I vote all those in favor. Cut New York off for any products being delivered. No Amazon delivery, no nothing. Let’s go ahead and do it. Let’s end fossil fuels. Let’s save the world from those evil fossil fuels. People don’t understand. It’s not the fossil fuels anyway. If anybody is a fossil fuel expert, I want you on the podcast. If you’re a renewable expert, I want you on the podcast. I got more folks coming in from carbon capture. I got more folks coming in from CO2 Coalition. I have more folks coming in. I want an open dialog about energy. Please. Let’s all talk about it and have a good time. But in the meantime, I want to start a. Quote or excuse me, a a survey. If you think we are to cut New York City and New York out of anything fossil, I think we should. This would be a great experiment. And then let’s go ahead and do it. California as well, too. I love New York. I graduated up there. I love the people of New York. This is not against the people. This is for the 10,000 wiping out all the others with all that. They’re no longer going to have that. Let’s give it a shot. [00:10:41][243.4]

[00:10:42] What keeps the lights on? Ed Ireland Substack and I got to give it a hand. Ed is in the top substack authors that are out there. I read his stuff all the time. A fall is in the air as as Ed say says on September 13th with a temperature of 71 degrees. Ed, this was finally nice to have it here. I mean, it was it was brutal. And on September 13th, we had a 4201 megawatts of solar. Wind was only a thousand megawatts. Hydro was three megawatts. Power storage was eight. There was 51 megawatts. Natural gas, 33 megawatts. Coal, 9000 and nuclear. 4000 5000 megawatts. So and in the summer capacity, summer wind has 10,000 megawatt capacity. And in the summer, because the wind blows less, but they were only generating one. So we could easily do without the wind and the solar on both of these occasions. So when you take a look at the $8 billion excuse me, the $3 billion that it took to get the wind farms power lines from West Texas to west Texas to East Texas, that’s a lot of money that the consumers have paid. I’m not saying we shouldn’t do it because Texas is the greatest state in the union. And I guarantee you that they’ve done it right. They’re balancing it out as best they can. Should they do any more? I think we need to use more natural gas, less coal and just keep the fleet for. Let’s do some experiments on fiscal responsibility for the wind and solar. The mix has been similar for all U.S. grids all summer. And he goes through I mean, and you have to read Ed’s article, you can read it on the energy news meet dot com or and then get the link to to go to Ed’s substack. He’s got the California with the numbers. He’s got it all over the U.S. he’s got the you will mix and then Jesse the Jenkins 11,000 megawatts of gas and coal plants offline in Texas electricity market yesterday as the state struggled through a round of punishing heat when resources that are supposed to be dependable aren’t, things can go bad quick. Coal and gas aren’t so dependable after at all. That is not true. And he goes, The facts that wind power in Texas had been much lower than expected. So this was a tweet. Here is Ed’s response have been much lower than expected in July and August, which forced natural gas and coal generators to forgo routine maintenance. The lack of maintenance finally caught up with those generators. And many told ERCOT the day before September six that they would not be available on September six. And ERCOT miscalculating this fact, saying that coal and gas aren’t dependable at all. Huge difference that Ed is bringing out. There’s a difference between plants coming down and having to be offline. Meredith Angwin who wrote the book Shorting the Grid says that the old formula was 120% would allow for coal and natural gas and nuclear to have power plants come offline. Those come off line then you still have plenty of power when you have it where they have to come offline and they notify you that they’re coming offline and there’s no wind. Who’s at fault? So when you sit back and take a look at well done. So let’s go to the next one here with the renewables. And again, I have to say this in every show, I like solar. I like wind. I like the lowest kilowatt per hour going to all citizens of the planet. Let’s get rid of energy poverty. Let’s get rid of energy hypocrisy now. But let’s use all forms of energy as long as they’re fiscally responsible and. Can be sustainable. [00:15:10][268.9]


[00:15:12] Here 10 Red Flags Warn Of Looming Recession. This one is very interesting. It came from the messenger by Al Lewis. Very uncertain economic outlook. Let’s see. The outlook remains highly uncertain, said the folks at the Conference Board. The index is based off of ten components, ranging on ranging from stock prices and interest rates to unemployment claims and consumer expectations for business conditions. So let’s come down and do here. Consumers are not buying big ticket purchases. I guess Biden economics is working here, so you got to love that one. We saw some switch even to some canned products like canned chicken and canned tuna and things like that, Costco’s chief financial officer, Richard Galanti, told analysts on a may conference call. That’s huge in itself, right? They’re going to canned food instead of eating chicken because of the pricing. Regarding banks outlook for the second half of 2023, banks reported expecting further tightening of standards of all loan categories. How does that impact that impacts the car loans so that the car dealers are in trouble? We already know the EVs are in trouble and there’s really piling up on the lots. The housing industry with the higher rates, they’re having some serious problems moving houses. And then you have commercial real estate because of the people leaving the blue cities and blue states. I believe New York City is around that 45% to 50% commercial vacant. So you have some hard things coming around the corner. Goldman Sachs says that 1.8 trillion in corporate debt is coming due over the next two years and will have to be refinanced at higher interest rates. Holy smokes. Recessions occur as debt levels peak and borrowers begin to default. Guys, these are some serious problems coming around the corner. Here’s another one. This is the I asked AM Manufacturing purchasing manufacturers index orders are in fact falling faster than factories are cutting output. The other side effect of all this is we have a world global slowing economic forecast because of energy. The number one problem is energy and printing money. We cannot print money to pay for renewables that won’t pay for the technology in order to get. Robert Bryce says it best when he talks about the energy density. Go follow Robert Bryce by all of his books. He is an outstanding source for information. Inflation is sticky and the Fed isn’t done. Here’s the last one that I’m going to deal on this one. The only way and I have been trolled on this a lot, the only way that I feel that we are going to get inflation under control is reduce the energy cost to consumers, reduce the interest rate so that business can afford capital and they can start reinvesting into it. Get rid of the horrific regulations that are now the legislation through regulations is going on right now. And I didn’t vote for all these regulations coming through. And it is starting to really hurt all US citizens. So the only way out, lower energy costs and go through these other steps. You don’t do that. You cannot do the any of these other steps without lowering energy costs. And it won’t happen. So, you know, buckle up. We are in for some interesting times here. [00:19:22][250.2]

[00:19:22] And then the last article. New York urgently needs to confront the contradiction to trying to electrify everything while also eliminating fossil fuels. This is just another article that is actually pig piling on, if you would, for all these other articles that we just talked about. At present, fossil fuels are critical to our generation of electricity. According to the most recent data from the Federal Government’s Energy Information Administration. New York that 46% of its electricity from burning natural gas and 1% from fuel oil. Those numbers make a difference when you’re talking about the tens of thousand that rally in New York and. New York City. 50%. That means. Do you leave the lights on only at night. You have no power during the day and they get nuclear at 25% or hydropower at 23%. Non hydro renewables would wind and solar is not enough to even keep the lights on. There’s not enough storage, energy storage. Here’s the funny thing New York has to import LNG from has to be from either Russia, Trinidad or any of these other places to come in because they won’t put a pipeline all the way in from the Marcellus. Energy hypocrisy is here. Let’s take a look at these articles. And again, one of the biggest things that I do is look at 50 articles and I try to see how there’s a first order of magnitude, as Michael would say, a second order of magnitude, how they all impact each other. And I don’t know that everybody is looking at oil and gas this way. And then you’re having to think over here, how is this policy that’s going to renewables affecting oil and gas? [00:21:20][117.5]

[00:21:20] So thank you all very much for listening. I know Michael will be back tomorrow. We’ll fill you in on his outing. And please subscribe like. Please contact me if you want to talk on the podcast at any time. I want to talk to industry thought leaders and let’s have a constructive discussion on how we help eliminate energy poverty and therefore poverty. Let’s be humanitarian about all of this. Thank you and have an absolutely great day. Talk to you soon. [00:21:20][0.0][1260.7]

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