Daily Energy Standup Episode #307 – Global Energy Developments: From Electric Buses to Geothermal Advancements

Daily Standup Top Stories

Virginia legislation would activate state program to fund electric school buses

  Virginia is on a roll transitioning to electric school buses. And that momentum could remain uninterrupted if legislators activate a precedent-setting but dormant initiative to tap into state dollars. Freshman Del. Holly Seibold has […]

New York State Proposes ‘Rapid Act’ and Other Bill to Aid in Transition to Renewable Energy and Away From Natural Gas

Governor Kathy Hochul’s Executive Budget proposal (the Transportation, Economic Development, and Environmental Conservation budget bill (A.8808/S.8308)) includes two pivotal energy proposals: the Renewable Action Through Project Interconnection and Deployment Act and the Affordable Gas Transition […

Iraq Remains Committed to OPEC+ Deal to Cap Oil Output at 4 Million Bpd

OPEC’s second-largest producer, Iraq, is committed to its voluntary cut in the OPEC+ agreement and will produce no more than 4 million barrels per day (bpd) of crude oil, Iraq’s Oil Minister Hayan Abdel-Ghani said […]

Fervo Energy Drilling Results Show Rapid Advancement of Geothermal Performance

Drilling operations at Fervo’s Cape Station show 70% year-over-year reduction in drilling times and pave the way for rapid geothermal deployment PALO ALTO, CA (February 12, 2024) – Today at the Stanford Geothermal Workshop, Fervo Energy […]


TOKYO, Feb 9 (Reuters) – Japan Petroleum Exploration (Japex) 1662.T sees the United States as the most appealing investment destination for oil and gas exploration and production, despite political risks posed by this year’s election, its senior managing executive […]

Highlights of the Podcast

00:00 – Intro
01:28 – Virginia legislation would activate state program to fund electric school buses
03:50 – New York State Proposes ‘Rapid Act’ and Other Bill to Aid in Transition to Renewable Energy and Away From Natural Gas
06:23 – Iraq Remains Committed to OPEC+ Deal to Cap Oil Output at 4 Million Bpd
08:25 – Fervo Energy Drilling Results Show Rapid Advancement of Geothermal Performance
11:44 – 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 Newsbeat podcast. My name’s Stu Turley, president CEO of the sandstone Group. And I mean, this is already starting out to be just a totally crazy week. Let me give you the stories in the rundown on today’s show. Virginia legislation would activate a state program to fund electric school busses. That’s kind of interesting. Let’s go around our second favorite state. New York State proposes rapid act and other bill to aid in transition, to renewable energy and away from natural gas. You can’t buy this kind of entertainment. Iraq remains committed to OPEC plus deal to cap oil output at 4 million barrels per day. This is just interesting. Fervo energy drilling results show rapid advancement in geothermal performance. Pretty cool. Gotta love our good, MP operators learning how to do some new geothermal stuff. Let’s go over to jetpacks. Sees you as is. Enticing destination for energy exploration. Gonna like this little article from Tokyo. [00:01:28][73.7]

Stuart Turley: [00:01:28] So with that, as we get started, Virginia legislation would activate state program to fund electric school busses. I find this pretty funny. Since there are so many problems with busses having problems not working and, really costing about 16 times more than everybody ever says. The amendment calls for moving the money half in 2025 and half in 2026, from the general fund to the Department of Environmental Quality. Deck staffers would use that 200,000. Nowhere near enough to even buy one bus to set up a working group tasked with establishing sources of long term state funding for the transition. This is so money. So, like so many other projects we’ve seen that it’s just about moving money from one part to the other pot to talk about it. Kind of like the five windmill. Just the five windmills up in the Great Lakes that were never done for $50 million. And they and they were actually only able to give back the, I believe, the 32 million rest. It was just, spent on permitting. So again, Virginia, school districts have been plugged into federal dollars. Private, public private ventures and utility programs even bought busses directly. 67 busses are on the road. Or in order in Virginia, thanks to grants from the U.S. Environmental Protection Agency. They they did $5 billion for school bus electrification. Here’s here’s a quote that really stood out. When the federal money goes away, we have to figure out a way to pick it up at the state level so we can transition all the busses. Could anybody tell them how expensive it really is? I just I love the idea of electric busses, but that much weight. The busses are already heavy. Make them electric. And I mean they’re going to just flow, just really have some serious second order of magnitude of effects. [00:03:49][140.8]

Stuart Turley: [00:03:50] So let’s roll over here to our second favorite state for entertainment, New York State. New York State proposes a rapid act and other bill to aid and transition from renewable energy in a away from natural gas. Governor, Kathy Hochul is entertainment at its finest. The executive budget proposal the transportation, Economic development and environmental conservation budget includes two PivotTable, energy proposals, the renewable action through Project Interconnection and the Deployment Act and the Affordable Gas Transit Transition Act. The AG to the Affordable Gas Transition Act is, looking to ban natural gas and go to all renewables, specifically the eight G AG to would include the achievement of the state’s cl CPA goal within the state’s gas, electric and, steam service policy to eliminate the 100 foot rule, ending the practice of having utilities fund new gas hookups out of its rate base rather than charging the. ndividual customer and revisit the obligation to serve customers who seek new gas hookups. This is just amazing. They are stepping in to eliminating the lowest cost, energy with the lowest impact on the environment and removing this from a choice from consumers. They could be saving so much money and having a better impact on the environment. Governor Hochul, if you and or anyone out of, your government or your administration would like to come on the podcast, I would love to visit with you in any of your representatives and your and your get the details of what you’re thinking about this as I’m not sure that the thought process of actual CO2 output, how much it’s going to save versus how much it’s going to cost the tank taxpayers, and this is going to bankrupt New York. I love New York State, but it just seems like, bad management is going on here. I’d love to have you on the podcast and visit with you. [00:06:23][152.5]

Stuart Turley: [00:06:23] Let’s, rumble over to Iraq. Iraq remains committed to OPEC plus deal to cap oil output at 4 million barrels per day. Here’s where, I think it’s kind of funny. Under Trump and the sanctions that were imposed, imposed and followed up on. They were at 400,000 barrels per day. Now that there has been, hundred billion dollars made available to Iraq. They are going to go out and, they’re now looking and will produce. No, they’re granted guarantee under their, agreement to produce no more than 404 million barrels per day of crude. Iraq, which pumped 4.2 nine 2 million barrels per day in December, is one of several OPEC plus producers who pledged at the end of November to make voluntary cuts. Here’s a quote afterwards, in order to support market stability, these voluntary cuts will be returned gradually to subject market, conditions, said the UAE, the head of the UAE right now. They are between three point three 5 million barrels per day and 3.4 million barrels per day. So sanctions don’t work as intended. And, quite honestly, this is not I don’t believe that OPEC plus and OPEC have the ability to truly track what people, what countries are producing. And I believe it’s going to be very much like Venezuela when they were, Brazil. Excuse me, when they were invited to join, OPEC. Plus, they said that they’re just going to produce everything that they want anyway. So just depends on how that goes anyway. Just pretty interesting. [00:08:24][121.3]

Stuart Turley: [00:08:25] Let’s take a look here at Fervo Energy drilling as a results show rapid advancement of geothermal performance. This is pretty cool for Bo. Cape Station to show 70% year over year reduction in drilling times and pave the way for rapid geothermal deployment. I love geothermal as a renewable time energy, and I love what this article is talking about. Tim Latimer is the CEO. Since its inception, Furbo has looked to bring a manufacturing mentality to enhance geothermal development. Building a highly, repeatable drilling process that allows for continuous improvement and as a result, lower costs, said Tim Latimer. In six months, we’ve proven that our technology solutions have led to a dramatic acceleration in forecasting, drilling performance. And when you sit back and take a look, the great ENP operators have the ability, the knowledge, the, the wherewithal to get good drilling done at very, very good cost. And when you marry geothermal, power and our great EMP operators, you get a fantastic home run, running down the road for geothermal all about it. And I think this is, says a lot of, van tastic things, for our, renewable and oil and gas running down the road together. So hats off to Vermont. Energy. [00:10:02][97.5]

Stuart Turley: [00:10:04] Let’s go to the last story for today. Japan sees us as enticing destination for Energy Explorer. How did Tokyo, Japan petroleum exploration or Japanese seas? The United States is the most appealing investment destination for oil and gas exploration and production. Despite political risks posed this year’s election. Quote, unquote. With its wealth of natural resources, low production cost and well developed infrastructure, we view the United States as the most enticing investment destination for MP at this moment. I’m going to butcher this name and I’m so sorry, Mia Acho Yama Chaddha senior managing executive officer, told a news conference. Natural gas and LNG are poised to play a pivotal role in facilitating energy transitions in the U.S. largest LNG exporter. Another tidbit and the reason this is very interesting is there was another purchase of, Japan’s LNG facility in actually the, larger purchasing of the LNG facilities. And so this looks like they’re by, buying even more, going up the stream, so to speak, if you would, and really trying to help get the whole process in line to guarantee their energy, security. I applaud, Japan for doing this. And I just wish that, our other leaders in the United States had America first. And like the rest of the world, has their countries first. [00:11:43][99.6]

Stuart Turley: [00:11:44] So, with that. Hey, like, subscribe. Please reach out to us at any time. I would love to have you on the podcast. Our podcast is going absolutely crazy. I’d love to, thank our staff and everyone. I just had Matt, Shoemaker. His. He is an absolute hoot. He went out and, just absolutely is running a, he’s going to stand up to AOC and everybody in the, squad, he is an absolute, funny guy. He’s in, back and endorsed by General Flynn as well as, general, Charles, Flynn, as well as Governor Huckabee. And if you guys want to hop on the podcast as well, too, I’d love to visit with all of you and, or any one of you with him. And, also Sean Donegan. Absolutely great feedback. He is a home run for, anyone to have on your podcast. And then we also have several others, that have just reached out again, if you missed it, we had 32 podcasts we recorded between Ray Trevino on the crude truth, Jay Young as well as, David Blackmon. So with all that energy newsbeat.co, let’s see if we can bump up our numbers. We had 26 million people on the site last year. We’re going to go for 40 million. So buckle up staff. We’re off and running here for a lot more traffic this year. Thanks. Talk to you all soon. Have a great day. [00:11:44][0.0][685.5]

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