Daily Standup Top Stories
Greta Thunberg Has Embraced Nuclear Power: Will The Greens Follow?
The Russian invasion of Ukraine forced a much overdue re-examination of Europe’s energy grand vision. Without the ability to access cheap Russian natural gas, Europe must reevaluate tactics and priorities. The strategy of relying on […]
DAVID BLACKMON: Saudi Arabia Could Cash In On Democrats’ Climate Cash
As the ongoing “energy transition” progresses, hydrogen has once again become a trendy topic of conversation in the energy space as a fuel with high potential in both the transportation and power generation sectors. The […]
BRICS Alliance Working To Create Its Own Currency, Says Russian Official
Moscow has found itself reeling under an avalanche of sanctions and restrictions as the Ukraine Russia war rages. Against this backdrop, President Vladimir Putin adopted a new foreign policy this week, identifying China and India […]
The Energy Transition Is a Delusion Indeed
The “energy transition” continues to receive thunderous applause from all the usual Beltway suspects, an exercise in groupthink fantasy amazing to behold. For those with actual lives to live and thus uninterested in silliness: The “energy transition” […]
India Eyes Major Expansion of Nuclear Power
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California lawmakers ‘stand up to Big Oil’ by passing bill that allows fines for price gouging at the pump
California lawmakers on Monday approved the nation’s first penalty for price gouging at the pump, voting to give regulators the power to punish oil companies for profiting from the type of gas price spikes that […]
Highlights of the Podcast
00:00 – Intro
01:53 – California lawmakers stand up to big oil by passing a bill that start allows fines for price gouging at the pump
04:32 – David Blackman, Saudi Arabia could cash in on. Democrats Climate cash.
08:34 – BRICS alliance working to create its own currency, says a Russian. Official
10:24 – 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] Hey, Everybody, Welcome to the Energy News Beat Daily Stand Up. My name’s Stuart Turley. Present CEO of the Sandstone Group. And today is April 5th, and Michael’s on assignment so we’re going to get started right away. [00:00:29][14.8]
Stuart Turley: [00:00:30] We’re going off over here to the First story coming around the block California lawmakers stand up for big oil by passing a bill that allows fines for price gouging at the pump. Sounds good. There are some underlying things in there. [00:00:46][15.8]
Stuart Turley: [00:00:47] Next one, David Blackmon, one of our podcast hosts for 3 Podcasters Walk into a Bar as well as the Energy Question. David Blackmon writes Saudi Arabia could cash in on Democrats climate cash. He’s got some fantastic points in here. [00:01:05][18.4]
Stuart Turley: [00:01:06] Next one is coming around the corner The energy transition is a delusion indeed there is a lot to this in this. Article and it. Is really causing some problems in Washington as well as. Everything. Else so let’s take a look at the next one. India eyes, major expansion of nuclear power that’s pretty important. [00:01:31][25.5]
Stuart Turley: [00:01:32] And then that BRICS alliance working to create its own currency, says a Russian official. Yesterday’s podcast we have some more information on Mexico being potentially brought into the BRICS so lots of things going on there. [00:01:49][17.3]
Stuart Turley: [00:01:50] Let’s start with a California story. California lawmakers stand up to big oil by passing a bill that start allows fines for price gouging at the pump. There are some critical. Points in. Here. Democratic Governor. Gavin Newsom used his political muscle to pass the bill, which grew out of his call last. December for. Special legislative session to pass a new tax on oil company profits after the average price in California hit a record high of. 644 per. Gallon. Taking on the oil. Industry has been a major priority for. Newsom, who is widely viewed as a. Future presidential candidate. [00:02:34][43.9]
Stuart Turley: [00:02:35] When you take on big oil, they usually roll you That’s exactly what we’ve been doing too Customers for years and years, Newsom told. Reporters after the vote. The legislature had the courage and conviction and backbone to stand up to big oil. Here’s where this legislation comes in. It is going. After the. Profits, not through a profits tax but rather being able to phrase it as a price gouging. So it is not a tax, but it. Is a referendum against price gouging. [00:03:13][38.7]
Stuart Turley: [00:03:14] Here’s the problem, there is no price gouging from the oil companies perspective. And I would invite anyone to come on to the show and explain it any way different than that. You have the oil companies at the pump those individual owners are paying they are making very little on a gallon of gas. [00:03:38][23.7]
Stuart Turley: [00:03:38] It is not them. So when they sit back and say it’s going to be profits, another quote in the article is we’re not like Texas, we’re not like Louisiana. We’re not like the Northeast, Garcia says. We do not have a fungible fuel supply and we’ve chosen to do that we’ve set ourselves up with 30 years of public policy. [00:04:01][22.5]
Stuart Turley: [00:04:02] This sends a clear message don’t invest in California. They have the third largest gasoline. Market. But yet, like Mike Ambrow out in California has been saying, they’re killing the oil and gas market, but yet they’re importing it in from everywhere else. Bad management, bad numbers and the consumers are going to end. Up paying for this. [00:04:30][28.2]
Stuart Turley: [00:04:31] So let’s go to the next story David Blackman, Saudi Arabia could cash in on Democrats Climate cash. Okay, this article is interesting. On the. Energy transition process, hydrogen has again become a trendy topic of conversation. In the energy space as fuel with high potential both in the transportation and power, energy power generation sectors. [00:04:59][28.3]
Stuart Turley: [00:05:00] Here’s a couple of things Saudi Arabia last year really set themselves up to be a world leader in hydrogen production. With that hydrogen production they are taking the entire to the next level. They want to be exporting it and really being a world supplier for this. [00:05:22][21.9]
Stuart Turley: [00:05:23] However. In California, this city is, it’s widely seen been seeing an impossible goal and now we’re on the precipice of seeing it there. Los Angeles City Council voted. Early February to approve $800. Million proposal to convert one of the city’s largest natural gas power plant to green hydrogen to great fanfare from the local press. [00:05:50][26.9]
Stuart Turley: [00:05:50] Here’s the problem that’s where Craig Orian. Was saying that it’s widely seen as impossible goal. They’re going to be. Importing this from Saudi Arabia. Saudi Arabia. Is going to be making money hand over fist on this again. [00:06:07][16.4]
Stuart Turley: [00:06:08] Why don’t we build to make the Hydrogen in the U.S rather than importing it from Saudi Arabia? So the legislation through the infrastructure Reduction act or the other bills are going to go to Saudi Arabia. Saudi Arabia has already been funding all of this by their oil. Profits but yet California is going to be funding Saudi Arabia. Just doesn’t make much sense. Go ahead and check out on EnergyNewsBeat.com the total article they’re. [00:06:44][36.1]
Stuart Turley: [00:06:45] Coming around the corner is the next story India Eyes major expansion of Nuclear power for the Energy Transition to happen to carbon neutral we’ve got to have nuclear. We just cannot even think about getting there without Natural gas and without nuclear, wind, solar. Yay! Those are great but we have to have the others to even get there. [00:07:09][24.4]
Stuart Turley: [00:07:10] In fact. Gretta Thornburg. Who’s the climate activist, has just come out in. Favor of nuclear that story was ran yesterday. But in India, I did not know this before. Reading this article. The U.S. and India in 2019 signed a deal in which the U.S. pledged to support construction of at least six nuclear plants in India. Wow that’s really, really cool. [00:07:37][27.2]
Stuart Turley: [00:07:37] However, the additional reactors are coming from Russia and Canada and. France. So we really need to start working on the ability for us to export our nuclear technology around the world and. Really help out on that process. [00:07:59][21.2]
Stuart Turley: [00:07:59] They’re really. Speeding up the fast additions needs to require changes to the India’s historical Construction timelines. For new reactors, very much like the U.S.. There’s permitting. There’s things that the actual. Construction does not take that long permitting is a horrible 14 years in India. So we’ve got to get that speeded up in the U.S. as well as India in order to help the climate goals. [00:08:31][32.0]
Stuart Turley: [00:08:32] Last story coming around the corner here is BRICS alliance working to create its own currency, says a Russian. Official. With all the stories that I’ve read on BRICS which is. Brazil, Russia. China, India and South africa when you take a look at creating your own currency is going to be a total elimination of any ability for the United States to impose sanctions on anyone in the world. [00:09:06][34.4]
Stuart Turley: [00:09:07] The Russian law, according to Russian reports, the Russian lawmaker, Alexander barkov. The BRICS nations are now in the process of creating a new medium for payments established in the strategy that does not defend the dollar or the euro. [00:09:22][15.5]
Stuart Turley: [00:09:24] The currency would be secured by gold and other commodities such as rare earth elements. So they’re moving to almost a gold standard, but they’re including also other rare earth minerals to support that standard. I have to applaud them for moving away from the swift banking system Russia and Iran for years have had to get around. U.S. sanctions. U.S. sanctions are now no longer even relative. [00:09:55][30.5]
Stuart Turley: [00:09:56] Anyway so with that, let’s go ahead and let you get back to work it’s been great talking to you. Reach out to me. EnergyNewsBeat.com fill out the form we want to hear from you. And thank you to all of our great listeners our shows are just going through the roof. Thank you and talk to you soon. [00:09:56][0.0]
