Daily Energy Standup Episode #59 – Gov Newsom is not an energy racist – He destroys fossil and renewable equally. Africa gets it in the drive-through; Alex Epstein gives us insight into Biden’s energy policies.
Stu wins the Super Bowl bet, and we cover all that and a bag of chips.
Stu says $85 to $95 oil due to the alien outbreak – not the ones coming over the southern border.
Biden been a significant cause of the global energy crisis – Talking points on Biden’s State of the Union 2023 – Alex Epstein
February 11, 2023 Allen Santos
By Alex Epstein I can summarize the economic portion of Biden’s State of the Union speech in one word: evasion. President Biden is evading responsibility for the consequences of the anti-freedom, anti-development, anti-fossil-fuel policies he […]
Oil Rebound More Likely This Year, $100 a Barrel Possible, OPEC Sources Say
February 12, 2023 Allen Santos
Summary Oil rally to $100 not ruled out by OPEC sources So far in 2023 Brent is up slightly at just over $86 China demand rebound, lack of sizeable supply growth key drivers Some OPEC […]
Conspiracy! Illegal! California’s new solar rules must be ditched, critics say
February 12, 2023 Allen Santos
Do-over! Critics who hate the state’s new rooftop solar rules — which slash the amount that future rooftop solar owners will get for exporting power to the grid — are demanding a rehearing before the California Public Utilities Commission. […]
Debt crisis, energy security, and Nigeria’s slippery road to net-zero …
February 12, 2023 Allen Santos
Nigeria, like many African countries, is at a crossroads. Although endowed with immense natural resources, energy access and security remain primary concerns even as the debate for energy transition creates more worries. With a debt […]
Highlights of the Podcast
00:00 – Intro
04:45 – California’s new solar rules must be ditched, critics say
07:48 – Debt crisis. Energy security in Nigeria slippery road to net zero.
13:11 – Oil Rebound More likely this year, $100 a barrel possible, according to OPEC sources
17:11 – Biden has been a significant cause of the Global Energy Crisis Talking Points on Biden’s State of the Union. Alex Epstein
27:13 – Outro
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Daily Energy Standup Episode -59
Automatic Transcription Edited for Grammar. We disavow any mistakes unless it makes us better-looking or appear smarter.
Michael Tanner, ENB Co-Host [00:00:07] What is going on, everybody? Welcome to another edition of the Daily Energy News beat up here on this gorgeous Monday, February 13th, 2023. As always, I’m your humble correspondent, Michael Tanner, coming to you from an undisclosed location here in Dallas, Texas, joined by the executive producer of the show, the purveyor of the show, and the director and publisher of the world’s greatest website, Energy Newsweek.com, Stuart Turley, My man, how are we doing?
Stu Turley, ENB Co-Host [00:00:31] Today is a beautiful day in the neighborhood. I mean, it is wonderful. I’m out there working in the yard, doing some burn barrel action and tearing things up.
Michael Tanner, ENB Co-Host [00:00:44] Yeah, we’re doing your part two save the environment, so we appreciate it. We are recording this Sunday afternoon, so this is before the Super Bowl has taken place. I’m sure as you guys listen to this, you’ll understand the outcome. But first, to who do you think is going to win today’s game?
Stu Turley, ENB Co-Host [00:01:00] I got two answers for you. I am rooting for Kansas City.
Michael Tanner, ENB Co-Host [00:01:05] Yeah.
Stu Turley, ENB Co-Host [00:01:06] Dude. Hey, McCall. He is from O.U. He is a heck of a ballplayer. He got MVP. He is a little bit.
Michael Tanner, ENB Co-Host [00:01:17] Holmes is from O You.
Stu Turley, ENB Co-Host [00:01:19] Or Texas?
Michael Tanner, ENB Co-Host [00:01:20] He’s from Texas Tech.
Stu Turley, ENB Co-Host [00:01:21] Texas. Excuse me. Oh, you Texas Tech.
Michael Tanner, ENB Co-Host [00:01:24] But it seems to be the exae thing. Same thing.
Stu Turley, ENB Co-Host [00:01:27] Yeah. I mean, he’s Texas Tech. I’m all in that. Here’s the thing. He’s got a broken wheel. You know, he’s gong to be a little bit tough wheeling around out of the pocket, and not the other quarterback is also not 100%. He’s got a little bit of a shoulder issue now. He’s not as good of a throwing person, so time will tell. I think it’s going to be 27. 24.
Michael Tanner, ENB Co-Host [00:01:56] Okay. So you’re going with Kansas City. Jalen Hurts is actually from O.U. Though, which is interesting. He played his last year at O.U. And the starting quarterback. So I know you’re an Oklahoma State fan, so I don’t know what that means for you.
Stu Turley, ENB Co-Host [00:02:07] I like Oklahoma, but I’m going with Texas Tech maybe.
Michael Tanner, ENB Co-Host [00:02:11] Okay, So you’re going with Texas Tech. I’ll probably take the Eagles just because I want them to win. So I always have to just bet with my heart. But I wouldn’t be surprised if it was Kansas City.
Stu Turley, ENB Co-Host [00:02:19] $1, $1, and Eagles right?
Michael Tanner, ENB Co-Host [00:02:24] Now Eagles or so I’m going Eagles. So luckily, though, we have a quick show for you guys today. Not much happened over the weekend. It was kind of a chill weekend, but Stu still, as always, find some banger shows. We would be remiss if we didn’t start with a conspiracy. [00:02:38]California’s new solar rules must be this much must be ditched, according to critics. [5.8s] We again ran that on the energy news beat next door.
Michael Tanner, ENB Co-Host [00:02:49] We have this [00:02:49]debt crisis, energy security, and Nigeria’s slippery road to net zero. [4.5s] Next, we will cover [00:02:55]oil’s rebound is more likely this year, with $100 a barrel possible, according to OPEC sources currently interviewing at Goldman Sachs. [8.2s]
Michael Tanner, ENB Co-Host [00:03:05] And finally, we’ve got [00:03:07]Biden has been a significant cause of the global energy crisis. [2.8s] Talking points by our good friend [00:03:13]Alex Epstein. [0.4s] We love him. We had the opportunity at the old regime to interview him. He’s been on numerous podcasts thereafter, and I think he’s one of the most clarion voices when it comes to human flourishing. He’s got some talking points on Biden’s State of the Union, which I didn’t watch. So I will have to break down what all that is a stool. Kick it over to me.
Michael Tanner, ENB Co-Host [00:03:34] We’ll cover a little bit about what’s going on with the markets. It was a quiet weekend. I thought it was interesting. CNX came out and announced [00:03:40]approved reserves of 9.8 trillion TCF, [2.5s] so I thought we’d just slightly cover that considering we just interviewed their CEO. Some really interesting stuff in that.
Michael Tanner, ENB Co-Host [00:03:51] But then we’re going to let you get out of here, kick off your Monday, and for us, go eat some buffalo ranch dip that’s getting cooked in the kitchen right now. And we’ll hopefully watch the Eagles win. But before we do that guys, again check out [00:04:06]energynewsbeat.com [0.0s] the best place for all your energy news it’s you can check out the description below. All the links and all the articles we talk about are from that website.
Michael Tanner, ENB Co-Host [00:04:16] You can also check out [00:04:16]Dashboard.EnergyNewsweek.com. [0.0s] It’s our one-stop shop for all data and news. We are hard at work at V2 right now. Make it a little bit of a pivot, but it’s going to be good enough of the pleasantries to kick us off. Which story do you want to go with first?
Stu Turley, ENB Co-Host [00:04:29] Oh, that’s I love me a good conspiracy.
Michael Tanner, ENB Co-Host [00:04:33] Well, we know you do. We know you.
Stu Turley, ENB Co-Host [00:04:34] Do. But, you know, my newsfeed is not set for conspiracy, but this came across as a conspiracy. The title is [00:04:43]Conspiracy Illegal. California’s new solar rules must be ditched, critics say. [6.2s] All right. Newsom’s at it again. I got to applaud. This is a total decision that is part of a [00:04:58]conspiracy that Violates antitrust laws one petition for do-over asserts. [6.1s] Let me get some quotes. We allege that the c p u c, which is Gavin Newsom.
Michael Tanner, ENB Co-Host [00:05:14] California Public Utilities Commission.
Stu Turley, ENB Co-Host [00:05:17] Right. And over the IOUs, [00:05:21]investor-owned utilities by affording the IOUs undue influence and control over the CPP, c deliberations, decisions, and actions. [10.6s] Okay, let’s go into this.
Stu Turley, ENB Co-Host [00:05:36] The solar panels, this has gone into a little bit of, uh, when they had the power. The bottom line is, Michael, what they’re changing is you get $100 off of your bill. If you don’t have batteries, and then they’re going to go to $140 off of your bill. If you put batteries on.
Stu Turley, ENB Co-Host [00:06:00] Now that means they’re trying to get the pole off of the grid at night. Now, here’s the problem. [00:06:10]You don’t get a tax break on those batteries. [2.7s] Now you’re not being. You’re losing money by going in and getting penalized by the people that don’t have it. And they have to rely on power at night.
Stu Turley, ENB Co-Host [00:06:26] But it’s more harm to the dam, to the environment because of the batteries and more fires and more. I mean, you just keep going through the check box and everything else out here and they’re shoving this down. The new rules. Let’s see. Hundred and 36. It will be you.
Stu Turley, ENB Co-Host [00:06:48] [00:06:48]The decision was hated by folks on all sides of the issue. It’s immense. At $4 billion a year, cost shifting to nonsolar backs for inperpetuity. [13.1s] I can’t even say that it’s Sunday.
Michael Tanner, ENB Co-Host [00:07:06] Inperpetuity, but that’s okay. Well, you’re an Oklahoma State grad, so it makes.
Stu Turley, ENB Co-Host [00:07:11] You know, hey, what can I say? [00:07:13]Some said it will result in the destruction of the solar industry in California. [4.5s] Well, you know, you got to hand it to Governor Newsom. He’s going to destroy energy. You know, he’s not.
Michael Tanner, ENB Co-Host [00:07:25] Just destroying all energy. You can’t even have Southern California. You can’t even have a solar panel in California without them taxing the crap out of it.
Stu Turley, ENB Co-Host [00:07:32] Exactly. I mean, old governor news. He’s not what do you call a solar panel racist?
Michael Tanner, ENB Co-Host [00:07:42] Okay, What’s next?
Stu Turley, ENB Co-Host [00:07:44] Okay. Let’s go to the Debt crisis in Nigeria [00:07:48]Debt crisis. Energy security in Nigeria. Slippy, slippery road to net zero. [4.7s] Michael, you know my passion for the disproportionately impacted communities and countries. Okay. I know you’re tired of it and you’re hitting your head against the microphone. But no, you’re airing me out.
Stu Turley, ENB Co-Host [00:08:07] I am tired. I am tired of all of the big corporations going to Africa, going to Nigeria, taking their natural resources, and leaving them with a bill and saying, oh, you need renewables when we all know renewables are higher energy costs.
Stu Turley, ENB Co-Host [00:08:29] In this first paragraph [00:08:29]Nigeria like many Africas is at a crossroads. [2.7s] Although endowed with immense natural resources, energy access and insecurity remain a primary concern, even as the debate for energy transition creates more worries with a [00:08:47]debt of 77 trillion. [1.6s] Nigeria is looking to finance an energy transition and a renewable energy roadmap of [00:08:57]33.2 trillion. [1.1s] Why her wobbly fossil fuel-dependent economy faces a bleak outlook. Okay, here’s where I get really worked up.
Stu Turley, ENB Co-Host [00:09:11] They have contracts where they are not getting top dollar for their natural gas and their services. I mean, they’re their resources. So we hollow it out and then we come in and there are countries around the world, China, Europe , and some of our companies will go in and say,.
Stu Turley, ENB Co-Host [00:09:32] Okay, all right,. I know this sounds like Putin, hey, we’re going to give you a deal. Will finance your renewables at 100%, whatever the number is. And so we get their energy cheap and then they turn around and get hosed in the drive through. [00:09:52]Africa is getting hosed in the drive-through. [2.5s] Anyway, thanks for let me vent.
Michael Tanner, ENB Co-Host [00:09:57] Yeah. And they just seem to have a lot of different projects in limbo. It seems like, you know, you read further down on this article and you see that these announce projects. So you have to give an idea.
Michael Tanner, ENB Co-Host [00:10:07] There are these. [00:10:08]ExxonMobil, Chevron, BP, Total, Chevron, Shell, and ConocoPhillips have already sold 27.5 billion in new assets [8.1s] or, you know, have already sold assets that were worth 27.5 billion to invest in a new region. That was according to our friends over at Rystad.
Michael Tanner, ENB Co-Host [00:10:26] And then there’s I mean, there’s a host. They go on to list all the different projects that are still stuck in the planning phase or bogged down by legal hurdles. So you’ve got the shell’s Bonga Westfield, you’ve got Bonga North and Ise Zabadani, Sudan. You know, you know Nikos, I mean you can’t pronounce,.
Michael Tanner, ENB Co-Host [00:10:44] But Exxon’s got to field these projects are estimated to there’d be spend about if you could get these through there’d be a [00:10:51]hundred billion in new capacity or new spending and the capacity to boost their production as high as 850,000 barrels a day and revenues worth about 1.5 billion. [10.3s]
Michael Tanner, ENB Co-Host [00:11:02] But regulation, you know, taxation through regulation, you know, as you’ve always talked about, also mired in obscurity is there’s a [00:11:10]$20 billion brass LNG facility that could be extremely helpful in the offshore gas pipeline that’s 5000 kilometers between Nigeria and Morocco, which I mean, it would cost an estimated 20 billion. [12.5s]
Michael Tanner, ENB Co-Host [00:11:23] So that’s a lot. And there are all of these different projects that if you were able to roll this out, the whole issue of, you know, they have so much of natural resources, but so few of their population has electricity, you could easily shift that which making with just [00:11:37]increasing the amount of capacity you export and having all of this revenue flow back to the state. [4.2s]
Stu Turley, ENB Co-Host [00:11:42] And natural gas. [00:11:44]Natural gas is cheaper than this. [3.8s] Let me read this one section. Borrowing more to finance the energy transition. This is what I was talking about just a second ago.
Stu Turley, ENB Co-Host [00:11:56] There is a global understanding that 2050 is a moving target because the transition speed differs across the globe for Nigeria since transportation fuels are the biggest source of carbon emissions.
Stu Turley, ENB Co-Host [00:12:10] Okay, this is book [00:12:12]debt is unjustifiable unless it’s for infrastructure development, for sustainable development, [6.6s] Hogwash. [00:12:22]They’re putting Africans into debt to get them in there. [6.0s] Yeah, we can’t buy natural gas.
Michael Tanner, ENB Co-Host [00:12:32] It’s a crime.
Stu Turley, ENB Co-Host [00:12:33] It’s a crime. I mean, it’s terrible. All right, let’s move on to the next one here. [00:12:39]Oil rebounds. [0.5s] You got to love this one. [00:12:42]OPEC is in the driver’s seat. And I think that the Saudi minister has an offer around his desk now by Goldman Sachs. [7.1s] I’m not sure if this is like, yeah, it was it.
Michael Tanner, ENB Co-Host [00:12:57] OPEC’s having dinner with Jeff Currie. He’s thes man Sachs head oil, analyst. They’re having dinner night because, you know, clearly they’re of, couoffe, I mean, of course, OPEC wants oil to be $100. So let’s break this down.
Michael Tanner, ENB Co-Host [00:13:10] Here’s the title of the article, [00:13:11]Oil Rebound More likely this year, $100 a barrel possible, according to OPEC sources. [5.4s] You know, you know, basically oil you know, it’sana od Reuters article. So, you know, of course, take it with a grain of salt. [00:13:26]Oil may resume its rally in 2023 as Chinese demand recovers after COVID curbs were scrapped and lack of investment limited growth in supply. OPEC country officials told Reuters of the growing numbers being possible turn to $to 100 a barrel. [12.1s]
Michael Tanner, ENB Co-Host [00:13:38] You have to remember West Texas Intermediate is trading currently at $79, Brent’s at 87. So, you know, if you’re talking about Brant oil price, you’re probably talking about an 85 to $88 West Texas intermediate price. To put that kind of into perspective, maybe a little high. You’re talking maybe 88 to 92,.
Michael Tanner, ENB Co-Host [00:13:59] A move back to 100 for a prolonged period would earn even more revenue for OPEC numbers. Adore I mean it’s like they right this like thinking they’re like geniuses it’s like the person sat down to write this is like oh wait. $100 per barrel of oil means OPEC will make more money. Well, the understatement of the century, whose economies mostly depend on oil income. I mean, it just it worse. And a setback for industrialized economies trying to control inflation and interest rates. Well, whose fault is that?
Michael Tanner, ENB Co-Host [00:14:26] To support this market, the Organization of Petroleum Exporting Countries and its allies include RuRussia includings Opec+, agreed to cut production by 2 million barrels a day, or about 2% of world demand. I bet you if oil comes to 100 bucks, do they? Will you think they cut? So here’s the real question.
Michael Tanner, ENB Co-Host [00:14:42] So do I buy any of this? No, I don’t. They’re a maybe. I mean, we’ll see. I think it’ll be I think if we don’t see $200 in 2020, I’ll make that steak. Steak bet wiI ssteak I don’t think we see $100 for a sustain. Okay, We have to go a sustained period here. Let’s go for the.
Stu Turley, ENB Co-Host [00:15:01] Fine sustaining period defines.
Michael Tanner, ENB Co-Host [00:15:04] We’ll go home. We’ll go a three three weeks
Stu Turley, ENB Co-Host [00:15:07] Three week stretch over 100.
Michael Tanner, ENB Co-Host [00:15:11] I will. I will. I will take a steak dinner.
Stu Turley, ENB Co-Host [00:15:13] Steak dinner. Here we go, baby. I think we’re going to average for the year. Let’s write this down. 85 to 90 for the years, what we’re going to average. Okay. And I used one.
Michael Tanner, ENB Co-Host [00:15:26] And now I’m loading this dinner up. I’m. Oh.
Stu Turley, ENB Co-Host [00:15:30] Do you bet Don inner. ?nd, you know, we bet.
Michael Tanner, ENB Co-Host [00:15:33] We better have a good year, saw, because I’m going to rack this tab up.
Stu Turley, ENB Co-Host [00:15:36] Okay, here’s the thing. We’ve got three. We got four shot down, aliens shot down this weekend. I mean, all it’s going to take is one alien outbreak, not illegal aliens over the border like you were talking about. No, this is an alien outbreak.
Stu Turley, ENB Co-Host [00:15:57] This is not an alien coming over to a wall. This is a alien out of space. They’re going to blow them up and we’re going and they’re going to sit there and go, Hey, wait a minute, we’ve got us in 100. We know Stu’s going to go get a big stake. We’re going to go ahead and do this.
Michael Tanner, ENB Co-Host [00:16:15] Your analysis hinges on the fact that we’re going to fight aliens. That’s what it’s come to. $400 oil. That’s what it’s come to. People listen to the words coming out of Stues mouth. Hundred dollar oil is only possible when aliens show up. So if you’re betting on 100, all or aliens will show. I mean, great. It’s Independence Day. Well, it’s going to be $500 a barrel. I know. You know me. Yeah.
Michael Tanner, ENB Co-Host [00:16:39] Yeah.
Michael Tanner, ENB Co-Host [00:16:39] I’m going to be recruited into the middle. You know, I’m going to end up getting drafted.
Michael Tanner, ENB Co-Host [00:16:43] Oh, yeah. But you know, it’s going to be me more. I’m going to be. Was it randy r. Yeah, ?andy Quaor ?who was it?
Michael Tanner, ENB Co-Host [00:16:51] Quaid?
Michael Tanner, ENB Co-Host [00:16:51] I think it’s Dennis Quaid. Yeah, I’m going to be. I’ll be back.
Michael Tanner, ENB Co-Host [00:16:58] All right, We got one more story.
Michael Tanner, ENB Co-Host [00:17:00] What’s up? Okay, This one. Kill us. Yeah. Oh, okay. Biden, this is from [00:17:06]Alex Epstein. [0.4s] I love me some. Alex Epstein. I got to talk to him last month. [00:17:11]Biden has been a significant cause of the global energy crisis. Talking Points on Biden’s State of the Union. Alex Epstein [9.7s] Before we go any further, you didn’t watch the. State of the Union digit.
Michael Tanner, ENB Co-Host [00:17:28] No, I figured. I figured probably not watching it. I’d learn more.
Michael Tanner, ENB Co-Host [00:17:33] I didn’t either. I went to the garage and hit my foot with a hammer sledgehammer about six times. And I realized it would be less painful than watching that numb nut. Okay, here we go.
Michael Tanner, ENB Co-Host [00:17:46] I wonder. I wonder. Tell me how you really feel
Stu Turley, ENB Co-Host [00:17:49] Oh, I think he’s a name that I’d rather hit his numb net with a sled than my foot. Okay. I have documented extensively had Biden and the other Democrats. There’s a whole bunch here, but we’re just going to pick about a couple of them.
Stu Turley, ENB Co-Host [00:18:07] [00:18:07]Biden’s role in the global energy Crisis. In his State of the Union speech, Joe Biden portrayed the global energy crisis as a problem he was solving. [11.4s] In fact It’s a problem he has helped cause with anti-fuel policies and is making it worse with every new anti-fossil policy.
[00:18:31] Biden’s sole explanation for the global energy crisis was, quote, [00:18:38]Putin’s war. [0.5s] But the root cause is global anti-fossil fuel policies supported by Biden, which made fossil fuel prices artificially high and prewar prevented the free world from quickly increasing production to the response.
Stu Turley, ENB Co-Host [00:18:58] This is critical because Biden not only falsely kept prices down by stealing money out of the strategic reserve, it’s going to bounce back by the falsely held numbers that are accusingly or allegedly out of the EPA to keep the numbers down.
Stu Turley, ENB Co-Host [00:19:20] And then how about the falsely related numbers that did come out that they went, oops, sorry, we didn’t have the jobs claim numbers, right, to make it look better. Okay. I’m getting even more worked up over this than over even in Africa to justify his past and present fossil fuel policies.
Stu Turley, ENB Co-Host [00:19:46] [00:19:46]Biden claimed with no evidence that there is a climate crisis and it’s an existential threat. [7.1s] Where is that? Where’s the reality? There’s a climate change, but thanks to increasing resilience, wew of a rapid decline in climate disaster deaths. You gotta be a chowderhead I’m sorry. This is just a bunch of horse hooey anyway. I better stop because of my blood pressure, my ear just shot off across the room.
Michael Tanner, ENB Co-Host [00:20:17] There they are. A firm doctor just emailed us and said Stu’s had a spike in his blood. The chip we got installed in you is freaking out right now. It’s just going crazy. So when he says he’s not chipped up guys, he. He is. Trust me. Yeah. I mean, I saw the clips. I saw. I saw the oil and gas clips that came out of that.
Stu Turley, ENB Co-Host [00:20:41] Yeah, the State of. the Union needed ten more years. And then within 15 minutes after that, within.
Michael Tanner, ENB Co-Host [00:20:46] 15 minutes was crushing us. So that’s where I am. I have zero sympathy the those quote-unquote crisis that we’re in. And I think, you know, we’re not necessarily in an energy crisis. I think we’re at more at an energy inflection point with the fact that there’s 2 ways can go. And I think we’ve exited the war with Russia and some of the policies that we’ve had both ending, you know, over the past two years have, you know, crunched us into this.
Michael Tanner, ENB Co-Host [00:21:14] Well, I mean, people don’t want to conveniently fot is that prices were already high before this. All Russian, Ukraine invasion thing, like prices, were already high. We were at like 75. Prices were rising. But, you know, we’re headed on the way to 80 before this before the invasion of Russia.
Michael Tanner, ENB Co-Host [00:21:31] So I think, you know, to think that it’s all, you know, Putin’s price hike, you know, that was always a good sleight of hand. It sounded good, though. It is sounded really nice.
Michael Tanner, ENB Co-Host [00:21:40] So, I mean, it’s clear if you think if you think this administration likes oil and gas, you’ve got to you’re you’re an idiot.
Michael Tanner, ENB Co-Host [00:21:47] So I think the thing what they’re trying to do is manage expectations. You know, they have to I think they understand fundamentally that we can’t just all of a sudden drop solar panels and solve the issue.
Michael Tanner, ENB Co-Host [00:21:56] But I don’t think they can necessarily come out and say that. So I think they’re trying to play to both sides. And it doesn’t you know, that doesn’t help anybody, you know what I mean?
Stu Turley, ENB Co-Host [00:22:06] I’m going to pretend I’m Arnold Schwarzenegger, Schwarzenegger or whatever his name was out of the Leave it to Carter. Whoo hoo! Ooh, I’m going to talk. You don’t even know what that references to.
Michael Tanner, ENB Co-Host [00:22:17] I know, but at least I can. At least I know. His name is Arnold Schwarzenegger.
Stu Turley, ENB Co-Host [00:22:21] Oh, no. Well, then. That’s. like a lit up.
Stu Turley, ENB Co-Host [00:22:23] Like. Look, that’s a whole different guy that I got to imitate. Yeah, I’ll be Bullock. That was baby like. Okay, here’s the thing, dude. We are facing two great awakenings. And I was talking to [00:22:37]Ben Samuel [0.4s] last year, a year ago, and I said, We’re going to have a great awakening coming around the corner. I found the tape a little while ago. Okay, you or Ben beat me up about tapes. I was looking for that other quote.
Stu Turley, ENB Co-Host [00:22:52] Okay, here’s the deal. We have two great awakenings that happened. Right now, ESG Last year you and I had been covering it nauseum. The the whole [00:23:04]ESG fundamentally has busted open and people realize they can’t make money on renewables. [7.8s] We saw this in the last two weeks with BP going retro.
Stu Turley, ENB Co-Host [00:23:17] Everybody’s been saying that everyone’s dumping, ESG investing. It’s expected to be, unfortunately not profitable.
Stu Turley, ENB Co-Host [00:23:23] Oh, it it mean it’s like suddenly. So you’re going to see the whole world come around. I think through this great awakening, you’re going to see more investments. You’re going to see natural gas go through the roof.
Stu Turley, ENB Co-Host [00:23:37] This weekend, I read an article that [00:23:39]Japan has now made it official. They’re turning back on all of their nuclear programs. [5.7s] And so that that is huge because it’s going to be [00:23:49]nuclear and natural gas are the only cheap forms right now of everything out there. [6.5s] So that great awakening is coming around.
Michael Tanner, ENB Co-Host [00:24:00] Yeah, I’m getting back on coal. I’m going coal power and everything. Coal power generators, coal power cars, coal power stoves. It’s you know, we’re going to be backing up. We’re going to be backing up to bring strength.
Stu Turley, ENB Co-Host [00:24:13] Seeing and I think CNG cars which is compressed natural gas cars did not come mine but I had the interview with [00:24:24]Nick from CNN X and he’s got a new thing coming out. They’re working on natural gas at the wellhead. [9.1s] Tell me that would be swag.
Michael Tanner, ENB Co-Host [00:24:38] Wow. You know, not to jump ahead, but I think this is a good segue way. Speaking of senex and natural gas, too, they just announced [00:24:46]9.8 trillion cubic feet of natural gas reserves. That’s up 5%. [6.2s]
Michael Tanner, ENB Co-Host [00:24:55] So, hey, if they want to go that route, they’ve got a lot of it. And if we could figure it out, it would be interesting. But I think the thing with compressed natural gas is it’s it’s a little bit explosive. I think that’s part of the reason. Right. Like if you get smoked.
Stu Turley, ENB Co-Host [00:25:11] Well. Okay. What’s what’s worse, a self-driving Tesla that runs over babies or a battery for an EV that just totally destroys apartment complexes. Self combust while it’s going down the road and then burns up an entire town, which is worse. There were all there were no there were no compressed natural gas disasters.
Michael Tanner, ENB Co-Host [00:25:38] And now I’m with you. I’m with you. I think it’s.
Stu Turley, ENB Co-Host [00:25:42] A hydrogen that scares me because hydrogen peaks out. You know, I’m a big hydrogen fan, but it is less it is easier to escape than natural gas. And a hydrogen in a natural gas pipeline is explosive anyway.
Michael Tanner, ENB Co-Host [00:26:00] Yeah, absolutely.
Stu Turley, ENB Co-Host [00:26:02] As Jeanie would say, it’s all I got.
Michael Tanner, ENB Co-Host [00:26:05] That’s all you’ve got now happened in the markets over the weekend, guys. [00:26:09]Oil and gas. Oil prices look to open down tonight, [3.2s] hopefully, I think, you know, throughout this week. It seems like the bulls seem to be in control a little bit with with demand seeming to to out outpace supply. So I wouldn’t be necessarily shocked if we saw oil up 80 to $83 this week.
Michael Tanner, ENB Co-Host [00:26:27] But I do think eventually it’s going to it’s going to cap out there, I think, 85 for West Texas Intermediate.
Michael Tanner, ENB Co-Host [00:26:32] It’s about as high as we get. And if that happens, yeah, you’re probably 95. BRENNAN Okay, maybe you do zero. I don’t know. I think a sustained move above 100 at this point for we know a little bit more. That’s a little bit crazy. Natural gas does look to open down a little bit to women.
Stu Turley, ENB Co-Host [00:26:48] What? Oh, I saw a balloon go by, man. It was a sober object. It was just flash. Guys, it’s the A.F. f 35 coming in by opening.
Michael Tanner, ENB Co-Host [00:27:00] Aliens are.
Stu Turley, ENB Co-Host [00:27:00] Flying. We got aliens coming in. We’re going to see 100.
Michael Tanner, ENB Co-Host [00:27:04] We better get out of here then, folks. So hopefully you guys stay safe. We appreciate you guys checking us out. We hope you have a good week. Stuart Turley, I’m Michael Tanner. We’ll see you tomorrow.
