Hat’s off to Shell for taking on the Renewable Natural Gas space. (RNG). The new acquisition of Nature Energy has many locations and already proven technology. Great story.
The Biden administration’s new offshore lease has yet to determine whether it is good and whether the accompanying oil and gas leases are worth bidding on. The more significant issue is the offshore electrical wind production goals. The data shows some key missing numbers for prices in their calculations. These will significantly increase consumer costs as the additional grid costs are not calculated in the projects. Check out the ENB Podcast with Donn Dears HERE.
Daily Standup Top Stories
Rationing: A fairer way to fight climate change?
Shell Finalizes Nature Energy Acquisition
The Netherlands: energy infrastructure is “vulnerable” to Russian sabotage
Morgan Stanley Boosts Global Oil Demand Forecast
How China Became Saudi Arabia’s Largest Trading Partner
Highlights of this Podcast
00:00 – Intro
01:38 – Is rationing a fair way to fight climate change?
04:08 – Shell finalizes its nature energy acquisition
06:06 – Biden Interior proposes a first offshore wind lease sale in the Gulf of Mexico.
08:30 – Netherlands energy infrastructure is vulnerable to Russian sabotage
11:59 – How china Became saudi Arabia’s largest trading Partner
14:17 – 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] Hey, everybody. Welcome to the Energy News Beat Standup Daily Edition. I’ll tell you. What, today is going to be a great day. Today is thursday the 23rd. It is Thursday. We are almost to the weekend. My name’s Stuart Turley, President and CEO of the Sandstone Group and Michael’s on assignment.
I think he’s lounging, but we won’t tell him that. I’m going to have a lot of fun with you guys today, and we’re going to have a very nice discussion. We’re going to go from Renewable energy rationing a fair way to climate change. Shell finances natures energy Acquisition. It’s pretty cool story there. Biden Administration Interior Proposes First offshore wind lease sale on the Gulf of mexico.
I’ll cover that here in a sec. Netherlands is now a little bit worried that energy infrastructure’s vulnerable to Russian sabotage. That’s not good. Morgan Stanley comes out and says global oil demand forecast and then how China is becoming Saudi arabia’s largest trading partner.
A lot of things going on here. So the first three stories are going to be around renewables. And how Important they are. If they’re done the right way. I had a great interview this morning with Irina Slav, Energy writer out of Bulgaria. And we actually talked about this one is rationing a fair way to fight climate change? This was an excellent article and I really have to respect Irina for her sense of humor and her opinions on this.
The article is it says The World War Two style rationing could be an effective way to reduce carbon emissions according to a new research from the University Of Leeds. I’m not Sure our discussion was pretty interesting on this. I really don’t Think the Royals and I don’t think anybody that thinks they’re a somebody will put themselves into a way will they will have the same restrictions put on them. I don’t think that we will learn anything from in lessons learned in the past.
I think it’s always The NIMBY is not in my backyard. Well, we got to come up with a new word because I don’t think the rich will like being rationed on their energy but here’s what equitable rationing could look like. The article does say initially Governments could regulate the biggest polluters such as oil, gas, petrol, long haul flights, intensive farming, creating scarcity in those products that harm the planet and rationing could then be introduced gradually to manage the resulting scarcity with aim of meeting everyone’s basic needs.
This sounds like a recipe for a complete disaster. So it is The researchers hope the paper will inspire policymakers to consider rationing as a serious option for fighting climate change. My comment, you first And I doubt that they’ll take us up on it so rationing in World War Two was a whole different time. Winston Churchill the Wonderful English People actually Had something to fight for and in this case, rash energy rationing would be the wealthy The haves and then everyone else and right now, everyone else is paying the bill for higher energy prices so I cannot agree with that one. And that was the same thing that Irina said as well, too The next story is actually pretty cool.
I got to hand it to Shell. Shell finalizes its Nature energy Acquisition and It’s for orange or renewable Natural gas. And I applaud this Everyone knows that. My belief is that we need to get The lowest cost Kilowatt per hour To all citizens of the world with the least Amount of impact on the environment. Now, that being said, that you cannot print money in order to Fund Things that won’t Work Here’s what Shell is doing The agreement Is to Acquire Nature Energy Unveiled by Shell at the end of November last year.
The company was founded in 1979 as a natural gas distributor, and then It started its Own biogas plant in Denmark. The company has Built a portfolio Of 14 Operating Plants with a 2022 Production Meeting of 6.5 million MBT You ask pretty good So renewable and And if you take a Look at renewable our Energy Or it Is It can be made in a Couple of different Ways you can make it by pulling off of methane I really Like the way of pulling fumes Off of oil tanks And there are some great ways To do that as well, too
But in the renewable natural gas Everything makes Like Your City waste Your farms capturing Those. Absolutely wonderful. And I applaud Shell For looking At This as A Renewable natural Gas. Natural gas as needed, offset it Bring it In. And I think it’s a phenomenal Way to take a look at things So well done, Shell Love going to renewable natural gas.
Take advantage of everything We got the next Article coming around the corner. Biden Interior proposes a first offshore Wind lease sale in the Gulf of Mexico. Now the Infrastructure Bill And it has the wind sections in There, but It also tied oil to Any of the leases That are out there This Leases in the Gulf of Mexico. And let me give you A couple stats In here.
The proposed Lease sale is For the Interior Department’s Plan to deploy 30 Gigawatts of offshore Wind Energy Capacity In the end of the decade, enough to Power 10 Million homes. Okay. We need to get a Crayon And dissect those 10 million homes and the Price per Kilowatt Hour in That And you’re really going to probably have a heart attack When you see that Dollar amount per kilowatt hour.
Nuclear would be a Lot Cheaper and a Lot cleaner. In order to get there But that’s got a Whole different other animal in their Discussion This sale includes 102,000 acre offshore Lake Charles Louisiana With two Offshore Galveston Another 100 To 120 480 acres In 96,000 In the other one. Now, I have not had A chance to look to see where the oil Rigs existing rigs are in Relation to these Places In the map I’m going to Have to go take a look at that they’re not Calculating into this into the article into Storage Into Energy storage or Any of the Other carbon Emissions. They’re saying if the.
Towers are put in there and they’re Being used all the time. It’s you cannot put that one for one. And in. The show notes, I will have those stats in there On The additional Power you have To put On the gridIt is out of the book Clean Energy Crisis Room Don Diers And I have A graphic That we will put in the show notes Talking about the additional Grid requirements.
That you have to have the moment you put Renewable Energy Onto a grid. The Additional requirements And that’ll help us calculate that out. Okay. This one is An incredibly short article. Even I could read. It being the ocean Grid netherlands energy infrastructure. Is vulnerable to Russian sabotage. All right pipelines in The water are Like Open for frogmen To blow up So Russia Is in a war and those are pipelines in the Ocean So the warning comes on the Heels of Saturday by the Dutch Government After accusing Moscow of using Diplomatic Cover for Espionage okay.
Stuff happens In war And get ready I didn’t understand total sense of that. And I’ll go into that later In another show Morgan Stanley came out today and. Said they boost global oil Demand Forecast. They brought it up. There’s some really big numbers in hereMorgan Stanley Has raised the Global oil demand Forecast for 2023 by 36%. An Increase of 1.9 million Barrels per day That’s huge China’s economic rebound and increasing Demand for air travel were cited As the two Big reasons And there was another article that Also came out today saying that South Korea is really having to ramp up for
The amount Of airline traffic Coming In for People vacationing out of China. Mobility indicators for China Such as congestion Have been rising Steadily so jet fuel Demand is going to be going up Very, very high. Oil markets are about to swing Into a Shortage in the Second half of the year, pushing brant prices Between 90 and 100 This is a downward revision. You know, the forecast that said they Could have been at 110, 100 to 110Russia said earlier this Month it would cutOil production By half a million in January and levels in March in response to western price caps.
Here’s a little Bit about that. Russia has lost the brain trust. We’ve we’ve talked about that they’re losing the ability to create New EMP Operations. The real problem coming around the corner. Is the Nuclear sanctions The EU is talking about right now. And if they Do put that in place, I believe The Number is 50% of the world’s enriched uranium In Inventory is with Russia. So it’s really going To be kind of Sanctions don’t Work And the Consumer Pay the bills.
So what’s It going to mean For nuclear? It’s probably give me Another delay in More delays And more delays. I believe That there Is Nuclear is the Way to go And there Are companies out there Like Copenhagen Atomics using The thorium reactors. We’re going to be Following them Because they should Have their thorium reactor this year ready for Testing And I’m going to reach back Out To them and see how the testing is going and when we can find out how that’s Going.
They are supposed To, within two Years Have it Running In A assembly Line And they’re off and Running. They can use Thorium Out Of existing Nuclear waste That is Where we need To go. All right. Last oil StoryToday. Over the last two decades The Economic presence Of China has Been growing Significantly Around the World. Title of the article is How China Became Saudi Arabia’s largest trading Partner. This is really an excellent article When you talk About the chess match Going on right now. You have Biden going Over to Ukraine and in Ukraine They’re Walking down the street and they have A air raid sirens going Off and there hasn’t been any Plans for a week or two And then Biden tells Russia
That They’re going to be There Then you Have Putin With President Jersey on the Same day cooking pancakes Together Okay So they’re really getting along And then in this Picture, you see President and the Crown prince Shaking hands So you’ve got the triad of Saudi Arabia China And Russia And then you also have India BRICS is rolling through BRICS Plus, which is a Consortium is Going to end up with Half The world’s Population on one Side, half the world’s population On the Other Side.
And the United States is probably going to be Sitting on the Other side. So we’ve got to watch what’s going to happen to the dollar Saudi Arabia And China Are Doing Long term contracts that are amazing China did sign with Qatar, I believe it was Qatar For 27 Years for LNG. They’re not Messing around and They’re locking These things in for the long term so anyway Would everybody reach out Ask us a question? Michael And I love getting the feedback
That we and From all of our fans. Ask us questions Subscribe questions at EnergyNewsbeat.com and we will answer them. We are getting lots of requests We have lots of Questions on actually On the real estate market as Well to What’s going to go on what 1031 exchanges, what is going on in Real estate? That’s a Whole separate issue but how does that play into oil and gas. Investing as well? Anyway, I sureHope you had fun today. Michael will Be back Tomorrow and we Look forward to hearing from Then until then Have a great day. We’ll see you soon.
