Daily Standup Top Stories
What Is COP28 and Why Is It Important?
World leaders are due to gather for annual climate change talks in Dubai in December. On the agenda: the phase down — or even phase out — of fossil fuels, a global goal to help the world adapt […]
ESG Moment of Truth Turns Tables for Big Oil
Deutsche Bank: Big Oil stocks should be included in ESG offerings because investors want them. WSJ: investors were leaving these funds at such a pace that fund managers were changing the names of the funds, […]
Oil firms face ‘moment of truth’ in climate crisis: IEA
ENB Pub Note: As we move closer to 2024, things will become more apparent and painful. World organizations like the IEA have agendas contrary to humanity’s best interests. The IEA is working with the WHO, […]
ESG Grift Endgame: Deutsche CIO Now Says Oil Companies Have A Place In ESG Funds
At the end of the day, it always winds up reverting to common sense and, in the investing world, alpha. That’s what has Markus Müller, chief investment officer ESG at Deutsche Bank’s Private Bank, admitting […]
Pfizer Sues Poland For Bailing On COVID-19 Vaccine, Citing Shady EU Mega-Deal
In April, 2021, the world learned that European Commission President Ursula von der Leyen had been negotiating the biggest contract ever sealed for 1.1 billion doses of COVID-19 vaccines via text messages back and forth […]
DAVID BLACKMON: Energy Security Or Tyranny? 2024 Provides A Stark Choice
One significant political development seen throughout 2023 has featured a move to more conservative governments in countries like Italy, Argentina, Greece, the Netherlands and even regions in Germany as the publics in those and other […]
Highlights of the Podcast
00:00 – Intro
01:55 – What Is COP28 and Why Is It Important?
04:46 – ESG Moment of Truth Turns Tables for Big Oil
07:07 – Oil firms face ‘moment of truth’ in climate crisis: IEA
08:24 – ESG Grift Endgame: Deutsche CIO Now Says Oil Companies Have A Place In ESG Funds
11:28 – Pfizer Sues Poland For Bailing On COVID-19 Vaccine, Citing Shady EU Mega-Deal
14:18 – DAVID BLACKMON: Energy Security Or Tyranny? 2024 Provides A Stark Choice
15:40 – 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. My name’s Stuart Turley. I’ve got an action packed show for you today. Michael’s on assignment. And I mean, we’ve got an ENB story thread like you would not believe. I’ll tell you what, COP28 is coming around the corner. And I got some interesting tidbits on Cop28. Why it’s important. What is it? And then some narratives that are coming around the corner. The IEA faith Bristol I’m not a real fan and he’s put out some things on oil firms Face the moment of truth. Right? ESG is now famous. Momentum of truth is now coming around the corner. That’s a whole nother story. Then we have the ESG grift in game by Deutsche Bank. Then we have Pfizer suing Poland. How does that interplay with energy? I got that for you. And want to sum it up with one of my all time favorite guys on the planet, and that’s David Blackmon. He’s got a heck of a summary on all of these stories in the ENB thread that don’t. And really, you got to pick out the threads and why they’re important. Hey, with that, thank you so much for all the folks that are giving us feedback, ask us questions and really let us know. Let Michael and I know what you want to know. In anything in the industry, if you are an industry thought leader, I want to talk to you. I’ve had some phenomenal guest drop this week and it is just nerdy how successful all of them are. And I’d like to thank everybody. [00:01:53][98.4]
Stuart Turley: [00:01:54] So let’s start out with what’s cop28, Cop28, And I hear some terms in this article that I did not even think were a thing, but they are. Why is Cop28 what is Cop28 and why is it important? It’s going to be talks in Dubai and the agenda phase down or even phase out of fossil fuels a global goal to help the world adapt to extreme weather events. Okay, here’s the funny part. You also have Saudi Arabia attending. You also have who is investing an awful lot into hydrogen renewable energy. So I can understand that. But they have Saudi Aramco also showing up, which is the world’s largest oil company. Okay. That without Saudi Arabia using Saudi aramco’s funds from oil and gas, they couldn’t make the energy transition. Now you’re also seeing a gigantic push around the rest of the world, and it’s going to cause some conflicts. Let me go into that here in just a second. As it is in Dubai, how many people will attend? Cop28. I found this. 70,000 of your closest friends will be there. Michael keeps saying, I need to get over there. But no, I think I’ll just check my. Oh, okay. I’m too busy. And so we’ve got Cop26 was in Glasgow in 2021 and that was 40,000 and then 33,000 were in Egypt. This year is because they’re saying that they’re not going fast enough in cutting emissions at cop after cop28 countries will have until 2025 to submit new national plans to fight climate change. Here’s where it’s going to get dicey. Nobody can afford to keep this problem going. This year’s cop let me quote the article This year’s cop will be crucial for climate finance. Rich countries have now delivered on their promise to mobilize 100 billion a year to help poor, poor countries deal with the worst impacts of climate change. That’s only a tiny bit. And the 2.5 trillion that is needed by 2030, there is no way that the world can fund 2030. That is just simply a way to redistribute wealth. Don’t kid yourself. And I’m getting shut down by all of the social media and Google has an honor to mention it that way. [00:04:36][161.7]
Stuart Turley: [00:04:36] So when you sit back and take a look, Faith Bristol in the next article comes up and he is saying oil firms face the moment of truth in climate crisis. If my producer would fly in this one article from one post, now is the time to climate proof Europe’s economy. This is talking about really what’s coming up with Cop 28 ahead of Cop 28 EIA Faith Bristol’s and Christine. Laggard in EIB, Werner Hoyer underscore why it’s essential for Europe to accelerate its in energy transition. They are doubling down and saying that we have to increase our energy transition when it’s not working. Why are they saying that? It’s a power play. The only way that they can get everything electrified in everything, all the wealth distribution going on is flat out by forcing the energy transition. Let me back up for one second. Again, this is not about whether or not it’s wind or solar. I don’t care. I’m energy agnostic. I am energy agnostic. Let’s use the lowest cost kilowatt per hour to elevate humanity. I have said that, and I have said that out of poverty. What they’re wanting to do is a wealth transfer from the 1%, which is using one. They’re using more carbon than the bottom 60% of humanity. So again, this ESG hypocrisy is really a problem. This article is a must read. [00:06:28][111.6]
[00:06:29] So let’s go down into the next two articles. ESG investing has hit a brick wall. I’ve been calling for this for quite a while. And this is Deutsche Bank. Big oil stocks should be included in ESG offerings because investors want them. Investors want to have a return. You have orsted losing billions. You have wind farms not getting investments. All of this has been coming out in the last several months and it’s really seeing an end to the end of financing of renewable energy. The IEA’s faith riddle called for a present day momentum of truth. The oil and gas industry. This is a quote. When we think about clean energy, these are business models which are quite new and sensitive to answer straight. Deutsche Bank Marcus Miller, Chief investment officer, ESG Twitter, told Reuters. As we say on this podcast, investors are looking for traditional energy companies that have cash backs and renewables. They prefer the transition than the end exclusions, he explained. Well, here’s what’s going on with the big oil. They are using their oil and gas to fund what they can and what they can afford to lose. Now you’re taking a look at this complex problem. Shell is backing away from the renewables. Totalenergies is backing away from the renewables. Oxy is going to carbon capture so they can get the funding. Brilliant move by Occidental Petroleum. Warren Buffett loves them. So when you take a look at even Deutsche Bank coming up and saying, hey, wait a minute, ESG is flat out got to include especially natural gas. [00:08:19][110.9]
Stuart Turley: [00:08:20] So here we come into the other one in this article, ESG Investment fund liquidation increase in 2023. If we can have Andy, our producer, role in this first graphic here on this article, which is the article, is it ESG, GRift Endgame? Deutsche CEO, CIO now says oil companies have a place in ESG funds. This graphic really shows that in 2021, 21, there is a little there, 2022 now 2023, there is a huge liquidation going on. This liquidation is amazing. So when we think about clean energy, these are the business models. They are incredibly sensitive to the interest rates. Well, they’re also more sensitive to tax subsidies. Tax subsidies are drying up. And the Felix Goltz research director at scientific Media told the Financial Times back in August ESG ratings have little or to no relation to carbon intensity even when considering the environmental pillar of these ratings. It doesn’t seem that people actually looked at the correlations. They’re surprisingly low. So all what the world is clamoring for, that’s less pollution, lower cost energy, renewable energy in its current form in technology cannot meet any of those needs for sustainable. It’s not sustainable because of funding. If you are a energy expert and you are on the wind side or the renewables side, I want to talk to you. I believe in energy storage. We got to have it. I’ve talked. Some energy experts on the grid, the grid facing failure because of the renewables. Here’s where I’m talking about the elite in the in the wealth transfer. The wealth transfer that’s going on because of the renewables is going to be facing a serious backlash in the political worlds. We saw this in Argentina when they’re saying it’s the far right new elected president. However, he’s not far right. He is actually more like a independent, if you would, from the standpoint of. He doesn’t want to have any government. He wants a low government. He’s not a far right guy. He wants no involvement from government and reduce all inner activity like that. So when you take a look at all of the other ones, the left wing green are absolutely in a panic mode. What happens when wolves are in the corner? You’re going to see them do even more dark things as politicians. This is what’s coming around the corner. [00:11:27][186.7]
Stuart Turley: [00:11:28] Pfizer sues Poland for bailing on Covid 19 vaccine, citing shady EU mega deal. The EU is really actually in a real break on right now because of Naito, because of all the other things they’re trying to do. They’re a wolf in the corner and you’re about to see some even more things. Pfizer, Pfizer’s now suing Poland, which under the EU deal struck between Wanda’s land and Ball, obligated the Polish government to purchase 60 million more doses than it did. They banned them. They realized that they weren’t working and that they were actually harmful. Poland is actually trying to take care of their people, so Poland is now being considered an enemy of the EU. And in the political environment, you’re going to see more and more countries stand up to the EU. I’m going to call it right here. Is there going to be other countries, other countries that are absolutely going to have Brexit? Are they going to be poll exit? Are they going to have these other ones? I’m not sure. But what’s going to happen to this is it’s going to be flat, pretty wild to see what’s coming around the corner. And so it’s going to be interesting. So in summary on this thread, you can tell that the Pfizer story did not actually mean a lot as far as energy, but it’s systemic of the wolf in the corner and what’s going to be happening with the EU. The EU’s knuckling down on a harder push to renewable for the wealth transfer. So this one. David Blackmon you’ve got to subscribe, you’ve got to support David Blackmon. He is absolutely a phenomenal writer. And so when you come in, the CNN ran on Thanksgiving dealing with the revolt in Germany, protesting the country’s increasingly authoritarian government, latest mandates that will require consumers to ultimately replace their cheap and efficient gas or oil furnaces with costly and less effective heat pumps in the coming years. Why do you ask that? They’re wanting to do it so they can control you with electricity. If they can control you with electricity, they can say no heat for you. If you have social footprints, if you eat too much steak, you can’t have any heat. It’s all about control and wealth transfer. This is pretty crazy. I didn’t believe all this kind of stuff. [00:14:14][166.0]
Stuart Turley: [00:14:14] And it’s now being coming around the corner. This was on The Daily Caller. I want to read the last paragraph in here from David Blackmon. Vigilance is one of the most important keys to the maintenance of all real freedom, real village. It’s in the advance of the 24 elections in the US reveals how one path lies and inevitable in the evolution of an increasingly authoritarian government in the name of climate change. Down the other path lies a return to policies that promote the energy security America enjoyed from 2017 to 2020. This election’s important. It’s whether or not you want to be treated like the EU. David brings up some great points. Fortunately, the U.S. is a few years behind. Let’s take a look at Germany. California has followed Germany and both have incredibly high. High energy costs. The energy hypocrisy of California is disgusting when it’s considering that they are going to be importing in. And then it is my prediction Russian oil that is been shipped to China, refined and then being brought in from the new refineries. Watch it. You heard it here. Second, because I said it a few days ago as well. [00:15:39][84.9]
Stuart Turley: [00:15:40] So listen, subscribe. I’ve got some fantastic guests coming around the corner. We are finishing up a couple of them. And I mean, Mark Masters is a media mogul and I cannot wait to have this one go out. He and I are. We’re cooking up on some other things. Got some other executives. I’ve got George McMillan. He is a we’ve got a series coming up on energy and geopolitical issues around the world. Listen to Tom Kirkman. It was a wonderful podcast. It is an absolute brotherhood of the nut. I am in the nerdy category, so it’s kind of fun. And when you sit back and take a look at Ronald Stein, you take a look at Sean Strawbridge, who’s an industry world leader. Steve Reese and all of these other ones. And Dr. Robert Brooks, you take a look at all of these really good leaders had some great ones. I’ve got some great thought leaders coming around the corner. If you are an industry leader, I don’t care if you’re nuclear, wind, solar like Grace Stankeg our Miss America. I just released. If you were a thought leader, I want to talk to you and thank you so much. Have a great day. Energy news meeting.com and I will talk to everybody soon. [00:15:40][0.0][920.0]
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