Daily Standup Top Stories
TotalEnergies upholds March restart date for Denmark’s largest natural gas field
TotalEnergies EP Danmark, a subsidiary of France’s energy giant TotalEnergies, has confirmed the previously set restart date for the Tyra II redevelopment project, which is said to be Denmark’s largest natural gas field. According to […]
Cancelled US Offshore Wind Farms Back at a Higher Price
ENB Pub Note: This article was originally posted on Elementalenergy.substack.com. I highly recommend following them and interacting with their other readers through comments. Remember those American offshore wind projects that were cancelled last year due […]
US funding bill blocks China from buying oil from Strategic Petroleum Reserve
WASHINGTON, March 3 (Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line […]
2 Ways to Play Europe’s $800 Billion Energy Crisis
The energy crisis that engulfed Europe after Western sanctions punished Russia’s invasion of Ukraine cost the continent hundreds of billions of dollars. Now, the Middle East crisis and the Houthi war on the Red Sea […]
AWS acquires Talen’s nuclear data center campus in Pennsylvania
Amazon Web Services (AWS) has acquired Talen Energy’s data center campus at a nuclear power station in Pennsylvania. Talen Energy Corporation this week announced it has sold its 960MW Cumulus data center campus in Pennsylvania […]
World hit by internet outages
Yemen-based Houthi militants could have cut underwater cables in the Red Sea, several media outlets have claimed Popular internet platforms owned by Meta – including Facebook, Instagram, and Threads – experienced global disruptions lasting for […]
Highlights of the Podcast
01:06 – TotalEnergies upholds March restart date for Denmark’s largest natural gas field
03:40 – Cancelled US Offshore Wind Farms Back at a Higher Price
06:59 – US funding bill blocks China from buying oil from Strategic Petroleum Reserve
09:09 – 2 Ways to Play Europe’s $800 Billion Energy Crisis
11:40 – AWS acquires Talen’s nuclear data center campus in Pennsylvania
13:18 – World hit by internet outages
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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 Energy News. Beat daily. Stand up. My name Stu Turley, president of the sand Stone Group. Today is Saturday the ninth. March 9th. I hope you’re having an absolutely fantastic Saturday. This has been a nutty week in the news. We are just excited about all of the great feedback that we’ve been getting for this week. Shows. We have been having some wonderful feedback on the lie that busloads of the energy realities with David Blackmon, Irina Slav, and Tammy Nemeth. We had a special guest, Robert Bryce. It has been unbelievably, wildly successful. Those are from, around the world in live. Please in sit back and enjoy. And we’re going to turn this over to the team. And they’re going to pick the best stories of this week. Have a great day. [00:01:06][51.5]
Stuart Turley: [00:01:07] Total energy or total energy, as I say in Texas Oak upholds March restart date for Denmark’s largest natural gas field. Michael. Holy smokes. This is, EPA Denmark, a subsidiary of the big, Total Energy. This is a lot of gas that’s coming back online. The tie has been a center of processing for more than 90% of the natural gas produced in the Danish North Sea. Holy smokes. There was a crane that went into a process. My jaw. Listen to this. Two point 8,000,000,000m³ of gas per year. Unbelievable. That’s a lot of. And they call it the Danish Underground Consortium, which is duck, which is not what we consider a duck here in the U.S. and it’s operator 43.2%. And then the Blu Nord is 36.8 and north foreign at 20%. Pretty incredible amount of natural gas that’s needed for Europe. [00:02:19][72.1]
Michael Tanner: [00:02:19] It is. And it it also shows you the imbalance about what’s going on here at home with our natural gas markets. I mean, you’ve got companies like Chesapeake, southwest and they’re shedding rigs like crazy. We’ll see it in the rig counts numbers coming up here yet overseas, with the spreads being so high, you’re being you’ll be able to get, these type of, projects evaluate. I mean, it’s great for Norway. They really need this. And specifically what’s going on I mean, in the North Sea. Excuse me. This is going to account, as you mentioned, 80% or 90% was 80 or 90% of the natural gas that’s coming through. This facility is going to be from the tire facility. [00:02:59][39.0]
Stuart Turley: [00:02:59] Isn’t that nuts? That’s a big boy. I mean, when you look at the picture, that thing, I wonder how many crew members that thing holds. It’s a lot. [00:03:08][8.6]
Michael Tanner: [00:03:08] It’s a decent amount. So. No, good for, total going back in there and, and bringing up that gas field, it’s going to be needed. Trust me, it’s only going to get worse. [00:03:17][8.8]
Stuart Turley: [00:03:18] Hey, one last comment and we’ll go to the next story here. When, I think total and, the other European, big oil, we’re going off the deep end link beyond petroleum. Now that’s they’ve come full circle. [00:03:33][14.7]
Michael Tanner: [00:03:34] Yep. Exactly. Yeah. They’re back on Nats. They’re drilling for natural gas offshore. [00:03:38][4.5]
Stuart Turley: [00:03:39] Wow, I love it. This story is, very wild and huge. Canceled U.S offshore wind farms back at a higher price. Remember when those other, they were all canceled, because they had no bidders? Recall, leading developer Orsted were hit with 5.6 billion in impairments for walking away from the multiple deals. Now they’re signing new ones with prices that are almost double. That’s why they walked away. I did not know that until after reading this article. Then they have the, there’s a chart in here. And if you take a look, Miss Producer, if you could pull that in the aey. The levelized cost of energy comparison. I found this very interesting. And the author brings out a van tastic point. Take a look in that center, Michael, where the wind offshore is absolutely out of line 140 to $200. On technologies conventional. General. Unbelievable. I mean, they are. Here’s where you and I have talked about the wind farms, being fiscally unsound from day one. After eight years, they have to be redone. Guess what’s happening, Michael? I’ve been talking to some wind folks and some solar folks, and what’s happening is in that a in that. Seven year mark. They start refiling for reworking these wind farms using the particulars bill, the Inflation Reduction Act. They’re double dipping only after eight years. Do you know how despicable that is for the consumers and the wasted products? And this is not good for the environment. And then, the reason that those first two were canceled, Michael, is because they would not approve a rate increase. This is a Ponzi scheme. [00:05:48][128.5]
Michael Tanner: [00:05:49] It is a shell game of. Okay, I can take my subsidy here and move it into this category, make my accounting look good. I go snag my profit from this, new bill that got passed. And as you can see, these the cost of energy development specifically for wind offshore is being massively reduced. Is, is is the chart that we just saw that that Aey chart wrong. No. It’s just not factoring again the full lifecycle I thought it’s you know really interesting. You know you’ve got nuclear at absolutely atrocious levels. 141 to 221 and you know that stripping out a lot of the other costs unfortunately associated with it. So not in my opinion, what this shows is that we need to figure out a way to bring nuclear down on this, on, on, on this chart so that we can actually roll this out and a lot better of a chance. But no, I mean these these offshore wind projects and I sleight of hand they’re doing no, hey, we’re going to cancel this project and reinstate this one at a higher price. [00:06:43][54.1]
Stuart Turley: [00:06:44] Well, and then there is, this is all about the lobbyists in, in Congress and who’s paying them. So you wonder why John Kerry flies in private jets. That’s us funding bill. Blocks China from buying oil. Strategic Petroleum Reserve. This one is a bit different from the standpoint that a measure in the U.S funding legislation. This is a I think it’s in the same bill covering a different topic. The PRC, sales to China heated up, remember, in the 2022 midterm when he sold a bazillion barrels, he sold 180 million barrels to an all time low, and then he sold 1 million barrels to Unit America, a Houston based arm of China’s Synaptics. oh. Wasn’t that the one Hunter was in? And nine and former President Donald Trump some spro was sold the Petro China International, a subsidiary of Chinese state oil Petro China. This is just unbelievable. [00:07:56][72.3]
Michael Tanner: [00:07:58] Yeah. And it’s unfortunately an issue for both sides of the aisle. Clearly with with Biden and Trump both engaging in this, I mean it for once. I don’t think there’s been any bill that, that Senator Chris Murphy has put up that I’ve been a fan of, except for this one. [00:08:14][15.9]
Stuart Turley: [00:08:15] I think it’s disgusting because they’re going to sell more Michael and what they’re going to do, it’s going to be the shell game. Oh, pretty quick for a podcast listeners. I’m moving Shell Game around and they’re going to have another corporate entity that then the politicians are going to get money off of. And I think this is despicable. How do we replenish the strategic oil? Well, no. [00:08:40][24.7]
Michael Tanner: [00:08:40] I’m with you. You have to replenish it. But if we’re at least going to sell, I’d rather not be selling to China. But you’re right. There will always be ways to get around this in. And. And this is more of a symbolic gesture than anything. But at some point, at least I’ll take the symbolic gesture. But I’m right. If there’s not true hard line making sure none of this flows to China, it really is just nothing more than a vanity play. [00:09:01][21.0]
Stuart Turley: [00:09:01] Now, this is not even a vanity play. They walk by the mirror and just kind of and then kept going. This is not a two ways to play Europe’s $800 billion energy crisis. This is kind of wild, Michael. You know, the sanctions that pushed Russia’s invasion of Ukraine, Ukraine, hundreds of billions of dollars on those sanctions have cost the consumers. Germany earmarked 16 billion for the construction of for natural gas power plants to complement the renewable energy expansion in Austria has made its largest natural gas. And for decades. Yesterday, you and I talked about Denmark and their gigantic, natural gas coming in off of the, North Sea. So Europe is to come to shape with the global changing natural gas and LNG markets. Total energy is, is actually a hoot. Yeah, they were the ones we talked about yesterday. As well. You have MCF energy. The small cap is back by Ford. Nicholson is convinced that this is the right atmosphere to boost it. We have several others in here. Ten more companies looking to capitalize on the energy bull market. Halliburton. Schlumberger, Enbridge, Gola LNG, Transocean and Imperial Oil, Pemba Pipeline, Arc resources, Tor, tourmaline and Precision Drilling. That’s, who’s who in the oil space? Oil and gas basin? [00:10:48][107.0]
Michael Tanner: [00:10:49] No, it really is. You know, I’m probably going to put my money on, MCF energy, mainly because, you know, they’re an actual producer. And if those prices if, if, if we look and there isn’t the US LNG as available on the market, they could continue to rise. But I’m going to tend to avoid probably some natural gas. But I mean, it’s never a bad idea to hit Enbridge when you’re talking about we will always need midstream. Now do I like the master limited partnership set up? Not so much. You know, I think, you know, not not sure if I want to invest in trans. It’s an interesting list, but, I’m not sure if any one of them are going to necessarily catch. [00:11:30][40.7]
Stuart Turley: [00:11:30] My trans ocean. I would not touch with a stick. We don’t give in, investment advice, but I do like gold or. Yeah. [00:11:39][8.3]
Stuart Turley: [00:11:41] AWS. Acquires Talon’s Nuclear Data Center campus in Pennsylvania. I like this, Amazon Web Services, is going out and they’re looking at. Let me get you the quote. We are pleased today to get, sold our Cumulus data center campus, unlocking significant value for talent. Said talent presidents and CEO Mack McFarland. This transition provides an attractive return on Talon’s investment and vision in building Cumulus, and creates value through the sale of the carbon free power from our top Saskatchewan nuclear power plant. Pretty cool. Data centers with AI are going to be comprising a lot of power. And so they this one was commissioned in 1983 for the energy company PBL. And it was 2000 494MW. And so when you sit back and take a look, I think the only thing, the only thing that is going to be able to help the AI or the massive amounts of servers that are going to be needed, is nuclear. Let’s sit back and take a look. Electrical vehicles. Oh, on a side note on that, I had a great talk today with, Doomberg and Chris Wright, and they had some fantastic points, about that. So stay tuned for this, podcast being released, hopefully in about the next week. [00:13:17][96.8]
Stuart Turley: [00:13:19] World hit by internet outages. I don’t know about you, but David Blackmon, Ray Trevino and I talked about the, Charles Schwab up there when he was saying, hey, we are going to you are going to see an internet failure around the world like you wouldn’t believe. Well, we just had AT&T cell phone come down. We just had, yesterday was, I’m filming this on Wednesday, but on Super Tuesday, we had the, I believe it was Twitter. No Twitter data. I, Facebook and several others, all went down today when I’m filming this on Wednesday. LinkedIn went down. So when you sit back and take a look, this article really is just displaying, there are some big things happening on right now in the world of security. The Yemen based, hoodies. And as Michael and I say, hoodies and the blowfish, militants, could have cut the underwater cables in the Red sea. They’ve claimed. In a post on X menace, spokesperson Andy Stone said the company was aware people are having trouble accessing our services. In a subsequent mention, he, puts the disruptions down to a technical issue. I love that technical issue. And leave it to Elon. When he jumped out there and and said, hey, X is still up. I loved it because he jumped out again today and said, hey, X is still up. And they even linked LinkedIn got hit. Now the according to the companies that estimates 25% of its internet age. You see, communications was hit. It had a contingency plan. Through mainland China and the U.S.. This was out of the cable that was cut. And there are other telecom, folks that are also having problems. This goes back also to several other conversations that we’ve had is that there are things going on geopolitically around the world that have been emboldened because nothing was done even after the Nord Stream, pipelines were, sabotaged. There are other sabotage is going on. We are in a area where you need to double check everything, keep your head on a swivel, back up all your data, and, just be careful out there. Things are getting weird, and they’re getting. It’s election year. [00:13:19][0.0][768.6]
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