Daily Standup Top Stories
Vast Reserves of Rare Earth Metals Found at Wyoming Coal Mine
When an Appalachian-based company begins operations at a Wyoming coal mining site late this year, the energy and enthusiasm around the work may focus more on its energy transition potential than old-school fossil fuel. Ramaco […]
Wall Street’s ESG Craze Is Fading
Wall Street rushed to embrace sustainable investing just a few years ago. Now it is quietly closing funds or scrubbing their names after disappointing returns that have investors cashing out billions. The about-face comes after […]
FIRST READING: Canadians appear to have stopped caring about climate change
In a recent Angus Reid Institute survey, Canadians were asked which political party they would prefer to manage the country’s climate change file. The winner was the Conservative Party of Canada; 28 per cent wanted the […]
Climate Enron May Be Heading for a Crash
The modern American version of “the environmental emperor has no clothes” until now has been the rise and fall of Enron. As former Ken Lay speechwriter Robert Bradley, Jr., says, “(T)he cause of Enron’s financial bankruptcy […]
A Nuclear Renaissance Is the Best Path Forward
For decades, the fruits of the fracking revolution, plus our newly minted status as the world’s top net exporter of natural gas, demonstrated that American consumers were swimming in bountiful energy. But as the pandemic effects of […]
Highlights of the Podcast
00:00 – Intro
01:29 – A Nuclear Renaissance Is the Best Path Forward
02:54 – Climate Enron May Be Heading for a Crash
06:01 – Wall Street’s ESG Craze Is Fading
09:16 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:14] Hello, everybody. Welcome to the Energy News Beat podcast. My name’s Stuart Turley President CEO, The Sandstone Group. It has been a crazy news day around here and I’m. I thought it’d be kind of slow for the Thanksgiving holiday, but it is crazy. Got a show lined up for you. A nuclear renaissance is the best path forward. That’s the first one. And let’s come around the corner to climate. Enron may be heading for a crash. I thought the title on this article was fabulous. Let’s go over here to the next one first. Reading. Canadians appear to have stopped caring about the climate change. Huh? That’s kind of crazy. Wall Street’s ESG craze is fading. That’s another one. We’re seeing a trend here, folks. It is absolutely crazy. I’ve never seen this kind of a trend in energy that’s going on. Also, a vast reserves of rare earth minerals found in a Wyoming coal mine. That’s pretty cool story. So we’re going to end up with a thank you to everybody and have a great Thanksgiving. It’s going to be a big travel week. We want everybody staying safe. So let’s start and get right into the news today. [00:01:29][74.3]
Stuart Turley: [00:01:29] A nuclear renaissance is the best path forward. I’ll tell you what, 20 policies are accelerating. At least 22 states, plus Puerto Rico and Washington, DC have committed to either 100% carbon free electricity generation or net zero by 2050. We’re seeing all these articles that are out there. They can’t make it without nuclear. They got to have some nuclear. So here’s the problem. Three states, Illinois, New Hampshire and South Carolina have generate over 50% of their electricity needs from nuclear power, making them effectively carbon neutral and an idea hub for energy. We’re seeing this for companies, for energy based companies coming in, helping their GDP, state GDP growth going up. We’re seeing this in Germany. The story ran out on Newsbeat today, where Germany is absolutely losing its ability to even be a powerhouse. And that was from David Blackman’s Substack. Germany has lost the ability to impact their GDP upward, and it’s going in a downward spiral. Energy policies matter. Here’s where I love this story. [00:02:53][84.0]
Stuart Turley: [00:02:54] Climate. Enron may be heading for a crash If everybody remembers Enron. That was a Ponzi scheme. That was a wild, wild Ponzi scheme. And this article is pretty interesting. Bradley, the CEO of the Institute for the Economic Research, recounts Lay was the salesman promoting a business model which kept trying to get investors money spending it. And it was barely mark to market accounting. That was amazing. Then we see the covers, the fdx, the collapse there. It was following a lot. They’re saying yes, it was even bigger than Enron. It was unlike Enron. It was bad. And plenty of warning signs that here’s where it is. The Green Revolution has a lot of warning signs that it may be even worse than after. It’s about it tumbling down and its loudest advocates brought to account. This is critical when you take a look at the green War on fossil fuels, the folks that are out there not humanitarian, that are left in and or green New Deal focused, are going to scream louder. They happen to be around the world more and more of the people that are in power that set regulatory issues, goals, climate goals. This is not a discussion of whether or not you need to go to net zero. Let’s leave that off the table for now. Yeah, let’s go to net zero. How you get there. Renewable energy in its current technology state is not renewable or sustainable. There is nothing renewable about wind or solar in its current state. So when you take a look at the Green War and fleshing out the net zero net zero in ESG are going critical because nobody can print money anymore. I called for this three years ago. I called for this last year saying you can’t print money without having the brakes. Just the wheels fall off, the wheels are falling off the chuckwagon. So I love this line out of the article. Ken Lay With Enron, The Green Revolution has relied heavily on government subsidies and a revolutionary revolution, always business philosophy aimed at making pariahs of anyone who dares oppose the grandiose but fatally flawed plan. My news website, my podcast is being shut down by a lot of the technology companies. I know it to be a fact. I have screenshots and we have found a way to get the story out about humanity, the power of the energy. It’s about raising people out of poverty. That’s what we need to use. Again, I am energy agnostic. I don’t care what we use. Let’s have the least impact on the environment. Let’s get people out of poverty. [00:06:05][190.8]
[00:06:05] Now let’s go to the next one. Wall Street’s ESG craze is fading. And I’m telling you what it seems like. The prime minister of U.K. triggered this about six weeks ago. I’ve never seen such a falling out of people saying, hey, wait a minute, it’s okay to do that. We’ve even had Bill Gates come out and say climate change is not going to kill you. Then you had Larry Fink come out ahead of BlackRock, say we’re investing in oil and gas. And they were doing it quietly. Over the last several years, trying to make sure that they propped up their other money. They lost $1.7 trillion in the first half of 2022. This article is really describing this quote, Tony Parrish This really is the result of too many managers looking to cash in on increased awareness on demand for ESG investments, said Tony Geraci, senior vice president at Cattleman’s Investments. The ESG has hit the bottom of the barrel. Now, remember, there’s still ESG funds that are out there. And believe it or not, they’re related to oil and gas. Natural gas is now considered ESG friendly. And take a look at actually, Warren Buffett has been out there investing in it. Occidental has been absolutely hitting it out of the park with their carbon capture and everything else that they’re doing. They’re doing their what they do best, oil and gas. But they’re also sending out their Chesapeake sent their some of their first LNG out and around with carbon net zero shipments. So oil and gas companies can do it. The EIA, for those that didn’t remember this, the EIA said the U.S. has curbed its pollution, carbon pollution because of natural gas. So when you take a look at this article, it is amazing. 2021 Harper funds inserted sustainable into its core bond product and subsequently saw investors pour 100 million into it. But by after missing its own performance, Hartford is switching again. At least five other funds announced they would drop their ESG mandates, while another 32 sustainable funds will close, according to their compiled Morningstar. Here’s the thing Nobody has been saying that sustainable includes fiscal responsibility, fiscal responsibility in it, and a dedication to the stakeholders which are the consumers makes a huge difference. Folks, I’m excited about all the changes that are coming around. I think that we could actually end energy poverty if we can stay on a good path. Let’s use wind, solar, nuclear, coal, use clean coal. Let’s use our technology. Let’s get together and talk about this. [00:09:16][190.6]
[00:09:16] Have a great Thanksgiving. I’ve got some great podcasts that are going to be rolling out. The staff has been working overtime to get that. If you’re an energy executive, I want to talk to you. I want to find and find out what’s going on in your environment, in your world. I’ve had some great podcasts coming out. I’ve had Mark Masters, who is a media mogul. He is a fantastic man. I’ve had George Macmillan, who has a world wide view, and both of those one was an hour and 15 minutes. One was two hours. Holy smokes, This is just amazing. I’ve got so many great interviews. Just interviewed Heidi McCall and Terry Etam, an author and also a movie mogul is out of Canada. We’ve got so many more coming out and it is all about ending energy poverty. Thank you so much and I really appreciate everybody. A great thanks. And our season. [00:09:16][0.0][539.7]
