Week Recap: Energy Shifts, Energy Debates, and Global Oil Challenges

Source: ENB

Weekly Daily Standup Top Stories

Oil Majors and Traders Vye for Shell’s South African Assets

Shell is divesting from its downstream operations in South Africa, attracting interest from major oil traders and national oil companies. Saudi Aramco, ADNOC, Trafigura, and other major players are in the race to acquire Shell’s […]

It’s Spreading: America’s Top Oil Field Terrorized By Armed Venezuelan Gangs

It’s only going to get worse from here, as the Biden-Harris administration’s disastrous open border policies have now come to a ‘neighborhood near you’ (for some of you). In the past week, we saw armed Venezuelan prison gang Tren de […]

An ESG Backlash Erupts in Europe on World’s Strictest Rules

(Bloomberg) — For TotalEnergies SE Chief Executive Officer Patrick Pouyanne, the difference in the performance of his company’s stock and that of Exxon Mobil Corp., the largest US producer of oil and gas, is in […]

The Golden state of California is turning Brown without continuous electricity

California focuses on intermittent electricity generation from wind and solar as demand for continuously generated electricity continues to rise. Ronald Stein  is an engineer, senior policy advisor on energy literacy for the Heartland Institute and […]

In Germany, The Green Energy Transition Is Only Getting Worse

Germany is running faster and faster to stay in place. In the meantime, it is destroying its economy. ​Plenty of virtuous places (New York, California, UK, Australia) want to compete for the mantle of “climate […]

Layoffs Loom as Volkswagen Fights for Survival

Volkswagen has canceled three-decade-old job security agreements, setting the stage for potential layoffs. The move is part of Volkswagen’s efforts to reduce costs amidst a struggling German economy and a challenging transition to electric vehicles. […]

Highlights of the Podcast

00:00 – Intro

01:31 – Oil Majors and Traders Vye for Shell’s South African Assets

04:13 – It’s Spreading: America’s Top Oil Field Terrorized By Armed Venezuelan Gangs

09:05 – An ESG Backlash Erupts in Europe on World’s Strictest Rules

11:15 – The Golden state of California is turning Brown without continuous electricity

14:14 – In Germany, The Green Energy Transition Is Only Getting Worse

16:35 – 2024 Election Debate Impact on Energy – Michael and Stu cover the top issues of the debate with special guest Rey ‘RT’ Trevino

18:39  – Kamala Harris’ Position on Fracking (Clip)

19:22 – R.T. Trevino’s Initial Reaction

21:01 – Stuart Turley’s Response to Kamala’s Statements

22:28 – Michael Tanner’s Analysis of Fracking and Foreign Oil

23:24 – Biden Administration’s Energy Policies

26:01 – Inflation and Oil Production Under Biden

34:16 – Security Concerns in Oil Fields

35:00 – Final Thoughts on the Debate

34:46 – Layoffs Loom as Volkswagen Fights for Survival

36:35 – Outro


Follow Stuart On LinkedIn and Twitter

Follow Michael On LinkedIn and Twitter

ENB Top News

Energy Dashboard

ENB Podcast

ENB Substack

ENB Trading Desk

Oil & Gas Investing In 2024


– Get in Contact With The Show –


Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.


Michael Tanner: [00:00:10] What’s going on, everybody? Welcome into a special edition. Saturday, September 14th, 2024, edition of the Daily Energy News. Beat Stand up Management A long week, too. Holy smokes. [00:00:21][11.1]

Stuart Turley: [00:00:21] Always makes me made it by another 911. Holy smokes. [00:00:25][3.4]

Michael Tanner: [00:00:25] Yes, we did. We did. We made it. All is good. I mean, busy week. We saw a debate. We had a great well, you know, hopefully that segment gets cut in a year. I’m going to demand the team cuts that me in here. So you’ll definitely hear our thoughts on the debate. We bring on the great Artie Trevino to talk all of the debate. We talk a bunch of other super fascinating stuff. These are pretty busy weeks to us. So we’re just going to go ahead and leave it kick it up to the team. As always, guys, the news and analysis that you’re about to hear is brought to you by energy news. Become the best place for all your energy and oil and gas and news. Doing the team do a tremendous job making sure that website stays up to speed. Everything you need to know to be at that tip of the spear when it comes to the energy and the oil and gas business. Check us out. The energy news me.substack.com. Also hit us up invest in oil dot energy newsbeat.com. If you’re interested in finding more about our direct working interest program that we are running in partnership with our friends over at Paco’s country operating. But Stu adds about enough said, let’s kick it over the team. Have a great weekend, guys. We’ll see you Monday. [00:01:30][64.5]

Stuart Turley: [00:01:31] Oil Majors Trainers Vie for Shell’s South African Assets. Michael, do you remember when the Shell and BP started selling off all their oil stuff and they started going to renewables? Yep. I’m not sure that they’re done being stupid yet. Shell is divesting from its downstream operations in South Africa, attracting interest from major oil traders. Saudi Aramco, D, n o. C, Trafigura and many other are looking to play in this ball game. Michael, let’s take a look here. Shell said earlier this year it’s preparing to divest from downstream operations in South Africa as a result of their internal portfolio review. So this is really looking at the gas stations downstream and taking a look in that total area. [00:02:20][49.5]

Michael Tanner: [00:02:21] Yeah, I mean, I think I wouldn’t read too much into this as they’re trying to move into renewables, they clearly came out and said that they’re going to continue to hold a majority interest in the or they’re going to retain all of their upstream assets, which include even planning on drilling an ultra deepwater well there. So that’s big bucks there. You know, Shell and BP have come out recently and sort of got a 180 on the whole renewables thing. I think this is what you’re seeing is it’s becoming harder and harder to be as vertically integrated Exxon’s of the world to Chevron. It’s hard to own upstream, downstream and midstream and make them all profitable because they all see run on different stuff. You know, technical expertise becomes a thing if you can’t do upstream, right? Why are you trying to do downstream? So I think this is a little bit this I’ll take add a little bit more face value of what they’re saying is a little bit of a rightsizing. I think it’s interesting, the companies who are interested in purchasing in Saudi Aramco being one of them, are really concerned. [00:03:14][53.4]

Stuart Turley: [00:03:15] About your opinion on that. [00:03:16][1.2]

Michael Tanner: [00:03:16] And I’ll be Oman trading and then also Trafigura. We know Trafigura is big in the south in in South Africa, specifically with their Puma Energy organization there. Also, we did see that the largest gas station network, Aegean, was sold last year to Vito Energy, which is a subsidiary of one of the world’s largest oil traders. Vital. So there is a little bit of precedent here for some of these larger oil traders to come in. We’ve seen a lot of these independent traders been trying to snap up all of these different refineries, mainly so that they can, you know, as part of what this article would say is a, quote, strategic portfolio realignment. Basically, if you can gain direct access relative to your market, you have an easier chance of going and setting up and shipping your crude and have an ability to kind of make those margins look better. So I think it’s in their best. These traders best interests, though, I think when you’re bidding, you get Saudi Aramco. It’s tough. [00:04:12][55.4]

Stuart Turley: [00:04:12] Yeah. Retro is spreading to America’s top oil field, terrorized by armed Venezuelans and gangs over in a place that you and I and like the Aurora Venezuelans taking over that apartment complex, it’s only going to get worse from here is the Biden-Harris administration’s disastrous open border policies now come to a neighborhood near you said we saw armed Venezuelan gangs from trend day. Our good one members terrorize Northern Denver Summer Aurora. According to the libs of Tech Talk, Texas based oil and company issued a memo to employees informing them that the police and the FBI have armed Cuba and Venezuelan migrants are committing thefts in the Permian Basin. Here’s the memo. Organized crime activity, even as a picture. One of the tattoos on there. [00:05:01][49.4]

Michael Tanner: [00:05:02] Yeah, I mean, it’s it’s it’s pretty unbelievable what’s going on there. I will say it is funny. Now we’re getting our news from libs of Tik tok from Twitter. [00:05:09][7.5]

Stuart Turley: [00:05:10] Which is a I’ll tell you what, I love me from Twitter on on the news front. [00:05:14][4.4]

Michael Tanner: [00:05:15] Well, trust me, anybody who follows you on Twitter knows you love Twitter. Holy smoke. But no, this is pretty unbelievable. This bulletin that was put out is is pretty unbelievable in terms of, you know, do we know what oil company this was by chance? [00:05:28][13.4]

Stuart Turley: [00:05:29] Yeah. I mean you know not to you WTI. [00:05:31][2.3]

Michael Tanner: [00:05:32] The okay that’s okay Well that stands for West Texas. Is that really the name of the oil company? [00:05:35][3.5]

Stuart Turley: [00:05:36] I thought it was my my bad. [00:05:37][1.4]

Michael Tanner: [00:05:38] She’s just wondering. I’m not sure. [00:05:39][1.4]

Stuart Turley: [00:05:39] Yeah, it’s West Texas operational areas. [00:05:41][1.9]

Michael Tanner: [00:05:42] Okay. Okay, cool. The West. I mean, hey, this is what happens all around the globe. I mean, we know ISIS was making a lot of money by stealing oil from pipelines. It’s only a matter of time before this was going to happen here. I mean, it’s it’s pretty unbelievable. And you know what’s nice is here in Texas, they’re going to do something about it. And people are armed to be able to do something about it. [00:06:02][20.3]

Stuart Turley: [00:06:03] Right. Well, here’s the problem with oilfield oilfield guys. If you’re operating as an oil field, hand on a on a big rig, Afghans are not allowed on on facilities or on on drilling sites. However, many carry them in their gun, in their trucks. So it would be after hours. [00:06:21][18.3]

Michael Tanner: [00:06:22] Yeah. I mean, still in Texas, trust me, they ain’t going to let that happen. I promise you that. [00:06:25][3.8]

Stuart Turley: [00:06:26] You’re not going to wait for the Hells Angels to possibly show up and try to evict them. No, absolutely. [00:06:32][5.7]

Michael Tanner: [00:06:32] Not. Absolutely not. [00:06:34][1.4]

Stuart Turley: [00:06:34] All right. We. Hey, Michael, are you going to watch this? The the thing. Tuesday night. [00:06:39][4.8]

Michael Tanner: [00:06:39] Tomorrow night? The debate. Yeah, I’ll be watching. [00:06:41][1.8]

Stuart Turley: [00:06:42] That’s going to be. [00:06:42][0.5]

Michael Tanner: [00:06:43] Yeah, I mean, it’ll be interesting. I don’t know how much we’re going to we’re going to learn about either one. I think it’s going to be a lot of bickering back and forth. It’ll probably be more lively considering at least Tom was alive as a bull. But it’ll be interesting to see what happens on both sides again. I think it’ll be interesting to see what they talk about in terms of energy politics. I think that’s one of the big things that she hit on. [00:07:03][20.0]

Stuart Turley: [00:07:03] I’m not sure. I’m not sure who I’m going to be rooting for over there. [00:07:06][2.6]

Michael Tanner: [00:07:07] You know, No, I do you. But I think it’ll be interesting to see how much time they spend on energy policy because Kamala Harris is really flip flop on where she stands on fracking. And I think a lot of people in the oil business are wanting. I mean, that that I mean, again, the funny part is you can’t ban fracking on private land. You can only ban it on federal lands. And if you actually do ban fracking, prices actually go through the roof. So part of me wonders, maybe be nice for six months, have three row all oil, we all decent amount of money and then it end up getting repealed because they realize, this is a horrible idea. I think the difference is cheap. They’re not going to ban fracking, right? One, because there’s people aren’t that stupid. They’re not. [00:07:45][37.3]

Stuart Turley: [00:07:45] Yeah, they are. The Biden administration banned the LNG export. And then they had the Chevron deference and then they appealed when they lost against it so that they can go back and then they ban more fracking in Alaska on federal lands. So no, they are that stupid. [00:08:02][17.4]

Michael Tanner: [00:08:03] To still man the I don’t want to be you all get into finance but the steel man the LNG export facility the case for the ban I think it’s I don’t agree with it but if I were to steel man and I would say why were we shipping our LNG overseas and we should use it here? [00:08:18][15.4]

Stuart Turley: [00:08:19] Well, the Jones Act Jones. [00:08:20][1.2]

Michael Tanner: [00:08:20] Act just has to do with not using ships. So I. [00:08:22][1.9]

Stuart Turley: [00:08:23] Agree LNG. [00:08:23][0.2]

Michael Tanner: [00:08:24] Let the free market decide what’s going on. But from a national security perspective, if we’re sitting here banging the table saying energy is national security, energy is national security, why are we shipping what what is our biggest national security thing is just a thought. [00:08:39][14.8]

Stuart Turley: [00:08:40] Two reasons pipelines and Jones act. [00:08:42][2.2]

Michael Tanner: [00:08:42] Well, I completely agree. [00:08:43][0.7]

Stuart Turley: [00:08:43] If we had pipelines, we wouldn’t have to worry about the Jones Act. But because we don’t have pipelines and they won’t put in pipelines, we can’t even sell our own LNG to Boston. [00:08:52][9.0]

Michael Tanner: [00:08:52] No, I mean, again, that’s where again, I’m just trying to steal me on the other side of the argument of like, you know, in theory it’s not a horrible idea. The problem is the implementation. And at the end of the day, you have to let the free market do what it does. [00:09:05][12.4]

Stuart Turley: [00:09:05] Not easy backlash erupts in Europe on the world street is rules. My goodness. This is actually from Bloomberg. And when you sit back and take a look, Michael, ESG investing in oil and gas has actually done a great thing. You and I have talked about that a few times on the show in this article. It really covers some good things over the past five years, a period of which Europe started formulating the world’s most ambitious ESG regulatory framework. The US’s S&P index has soared more than twice as much as Europe benchmark over the strong 600 index. Wow. So the U.S. guys did it right and did it better than their counterparts in the EU? [00:09:52][47.1]

Michael Tanner: [00:09:53] No, I mean hate the all the free market. I sound like a broken record. The free market ultimately. [00:09:59][6.6]

Stuart Turley: [00:10:00] Just. [00:10:00][0.0]

Michael Tanner: [00:10:02] Is everywhere. I would watch it on YouTube, which I recommend you do. Free market will decide this whole stuff. [00:10:07][5.1]

Stuart Turley: [00:10:07] So really. [00:10:07][0.2]

Michael Tanner: [00:10:08] We saw this coming from. A mile away. And I love the fact that total energy is energy. They’re getting all mad that that Exxon’s valued higher. Well, one big loss, of course. [00:10:20][11.8]

Stuart Turley: [00:10:21] And then you know what? More power to are greater. [00:10:23][2.6]

Michael Tanner: [00:10:24] And the thing I also don’t like these ESG regulations. I mean, these ESG scores, I should say, cigaret companies have higher ESG scores than Tesla. I mean, come on. [00:10:35][11.6]

Stuart Turley: [00:10:37] Who’s smoking? What? Right. That’s a good pun. That was a pun. In case you are paying attention, the biggest risk of European approach is that the energy invested industry at it put the whole energy intensive industry at a significant competitive disadvantage, said Dimitri Papadopoulos, chairman of Greece’s Titan Cement International and the European Roundtable’s Committee. If Europe share of these global sectors is lost, others from elsewhere will simply pick it up and prosperity will go. Their really. [00:11:14][36.9]

Michael Tanner: [00:11:14] Wild. [00:11:14][0.0]

Stuart Turley: [00:11:15] Golden state of California is turning brown without continuous electricity. This was from our buddy Ronald Stein. I love me some Ronald Stein. California focuses on intermittent electricity generation from wind and solar as demand continuously is generated for electricity continues to rise. Michael, I was on this morning with the energy realities, and there was a video from a lady that we played in in Australia and where Australia really went into the Green energy fund in the and the real money issue is, is that turbines still require electricity. So you may have a windmill sitting there, but it requires money and power from the grid until it gets enough spin so that it can then put back in. Well, guess what? The Green New Deal and net zero policies in California, supported by Governor Newsom and the Democratic presidential candidate Kamala Harris, has led to the state’s most expensive electricity and fuel prices in America. Increasingly high cost of living houses, transportation coupled with an increase in crime, smash and grab robberies, homelessness, pollution and congestion that many taxpayer residents are leaving the state. I got one favor, please. As you leave California. Deposit your voting practice there. Do not bring them new taxes in Florida. Yeah. [00:12:51][95.7]

Michael Tanner: [00:12:51] Please don’t. Do. I think what we need to do is we need to do a live show from San Francisco in the Castro and see how long we can make it before one of us get stabbed by cast listeners. That’s. That’s a that’s a machete. One of my favorite line. You know, I always think of this and somebody pulls out a knife. It’s that scene from Crocodile Dundee three and this is a knife. This is a knife, right? Yeah. [00:13:13][22.0]

Stuart Turley: [00:13:13] Dude, it’s my house. I mean, I’m. [00:13:15][1.9]

Michael Tanner: [00:13:15] Having this great article from Ronald Stein. You know, it’s it’s clear that the net zero policies going on in California, it’s completely. It’s completely drowned them in in electricity debt. I mean, they’ll be never able to get out of it. You know, the fact that they’re still threatening to shut down Diablo Candy just goes to show it’s turned into a political nightmare. But, you know, it’ll be interesting to see as what happens in 2024. I think if Kamala Harris wins, you’ll see California continue to go insanely left because Gavin Newsom’s got nothing to run for in 2028. I think if Trump wins, you’re my prediction. The zig where everyone else is zagging is I think you’ll see Newsom come a little bit to the center to set himself up for 2028. So if you’re in California and you want things to calm down, maybe vote Trump y. [00:14:03][47.5]

Stuart Turley: [00:14:06] That’s some kidneys up there, man. [00:14:07][1.4]

Michael Tanner: [00:14:08] He’s going to be thrown out, throwing out highly in-depth analysis. This whole is why you guys tune in. [00:14:13][5.5]

Stuart Turley: [00:14:13] So the green energy transition is only getting worse. What’s happened is the green energy policies are just absolutely making it miserable for you have green energy policies, high energy prices go around. And there is a wonderful chart. Ms.. Producer, if you could bring this chart up, you could see Europe versus US states one through 88. And you take a look at this list in the top, the highest, most expensive energy is Hawaii, Belgium, Germany, Ireland, like Ashton, Italy, Cyprus and California comes in at number eight, Rhode Island at number ten and number nine, Massachusetts at number ten, Connecticut at number 11. Number 12. Maine. Amazing. And then New York is in the top 22. Alaska is 20. Portland, Vermont is 24. Start taking a look at there is a 100% correlation between green energy, the Green New Deal and high energy prices in deindustrialization. Let’s go through this here in some numbers. Renewable power sources covered about 57% of Germany’s gross electrical consumption in the first half 2024. However, generation from renewables reached 147 terawatts. But at what cost? And it is been considerably more than you’d have to pay. They took down to their last two nuclear reactors that were already running, adding to the baseline cost. So Volkswagen is now considering closing factories in Germany for the first time and a move that shows that a mounting price in Europe’s car maker faces from Asian rivals. VW considers one large vehicle plant and one component factory in Germany to be obsolete and said it works. Council vowed to fierce resistance to the executive board plan. I’ll tell you, they’re having some serious problems, and de-industrialization is the direct result of green energy policies. [00:16:34][140.7]

Michael Tanner: [00:16:35] We just got done watching the debate. Wow. A lot to get into. We’re going to try to stick to energy, but I’m sure if you follow Stew in his Twitter account, we’re going to very far off the reservation. But so it is that stew. But what Who goes first? We’ve got a guest appeared. This is the first guest we’ve ever had on the energy news beat. [00:16:54][18.6]

Stuart Turley: [00:16:55] R.D. Trevino. I am honored to have you as our Your honor. [00:17:01][5.6]

Michael Tanner: [00:17:01] To have you on, man. [00:17:02][0.7]

Speaker 3: [00:17:02] I can’t believe I’m here. This is fabulous. You know, thank you guys so much. We’re even asking me to come do this because this is a show that has new guest, new guys, your listeners. Wow. Just thank you all so much for the opportunity. And what a show it was. I had my popcorn out. [00:17:20][17.9]

Stuart Turley: [00:17:21] My goodness. [00:17:21][0.2]

Michael Tanner: [00:17:21] Yeah. I mean, we will get to it all in a bit. But I want to go to the tape here. We’re going to we got to start and pretty much focus the entire segment on the two frack or not to frack, whatever it’s called. I’m pretty sure that’s what Shakespeare said not to be. But let’s go to the tape here real quick and see what had to be said. [00:17:39][17.2]

Video Clip: [00:17:39] I made that very clear in 2020. I will not ban fracking. I have not banned fracking as vice president United States. And in fact, I was the tie breaking vote on the Inflation Reduction Act, which opened new leases for fracking. My position is that we have got to invest in diverse sources of energy so we reduce our reliance on foreign oil. We have had the largest increase in domestic oil production in history because of an approach that recognizes that we cannot over rely on foreign oil. You know, my family lives in western Pennsylvania, where fracked gas wells have become a common site. Yet the toxic impacts of fracking on the community are immense, from contaminated ground water to poisonous emissions. Will you commit to implementing a federal ban on fracking your first day in office? Adding the United States The list of countries who have banned this devastating practice? There’s no question I’m in favor of banning fracking. Say yes and starting and starting with what we can do on day. One around public lands. Right. And and then there has to be legislation. But yes, and this is something I’ve taken on in California. I have a history of working on this issue. And to your point and, you know, we have to just acknowledge that the residual impact of fracking is enormous in terms of the impact on the health and safety of communities. So thank you. So would you ban offshore drilling? Yes, And I’ve again worked on that. [00:19:08][88.7]

Michael Tanner: [00:19:10] All right. I’ve got my thought on that on and specifically Pamela’s thoughts about I want to kick it to you. You’re the guest. What did you think first of that segment? And then you can you can taper off to do whatever else you want. [00:19:22][12.3]

Rey “RT” Trevino III: [00:19:23] I could tell there before you played the segment that you really want to keep us on track here. And this isn’t a three podcasters walking to a bar where we let Stu kind of go off into his own place. You know what? Here’s my thoughts. President Biden said a lot of things during the campaign trail and did the exact opposite when he became president. The only reason why we do not have inflation as high as we do, as high as we did or didn’t go higher is that they backed off killing the oil and gas industry. Okay. So I wouldn’t put it past them that I’m sorry, this administration would only continue to wage war, gives the oil and gas industry and the hundreds and thousands of Americans out there that have jobs in that industry or that are affected by the oil and gas industry. I understand the to frack, not to frack. The flip flop of this, that and I’ll say this I get a chance to do interviews on one of those shows. Not quite as awesome as energy news. Me, but I usually answer a question I give every now they tell me, You know what? If you can not answer the question. And while both candidates did a pretty good job of that tonight not answering some questions. And Kamala definitely, on the other hand, answered none of them. But from an actual 36 second clip right there, the best I can say is we need to have affordable energy, oil, and more importantly, natural gas can get us there. So we need to definitely be pro oil and gas, then continue to work towards alternatives because it’s an energy addition, not an energy transition. And that’s really the best thing that I can say, as our good friends do. Turley is chomping at the bit there. [00:21:01][98.7]

Stuart Turley: [00:21:02] I’m going to be quite honest with you. I thought Kamala did a very good job. I thought I was very surprised. I did not hear the actual cackling that I was expecting. And she lied about 19 times. Boldfaced lied. Ms.. Kamala, if you want to come on this podcast, you’re more than welcome to defend your lies. Because when she said that she wasn’t going to frack or she’s not going to ban fracking, they have. The Biden administration has banned fracking in Alaska several times. She signed it. She was the signing bill of the Inflation Reduction Act, the single largest reason we have inflation. My dad just bought 20 gallons of paint and it was a hundred times more than it was a previous three years ago for the same pain that inflation. She’s also lied about not going after fracking and ruining the environment. They have also filed an appeal on the LNG ban because the Chevron deference, is it being kicked in. They filed another appeal. They want to ban fracking. Excuse me, LNG going out and you got to have fracking in order to get our LNG exports out. So she is lying and she would kill the entire industry. [00:22:27][85.4]

Michael Tanner: [00:22:28] Well, I yes, I clearly that she’s not going to say I think what she really thinks, which who knows what she thinks. She says at one point she was going to ban fracking. Now she says she won’t. You know, everybody seems to drift to the center in an election. I think practically it’s going to be hard for them to for them to actually pull off like I like to think things have tactically, like how do you actually tactically go about banning fracking? Well, you only have to start with federal leases. The problem is it’s what, like 70% of all oil and gas production is on federal leases. So you’re doing you’d actually skyrocket. [00:22:57][29.3]

Stuart Turley: [00:22:58] And I want to jump on this one. Why? Why we’re here. I’m going to I’m going to take this this right now. She bragged about signing in those leases in those go for oil leases. Guess what? Not one of those leases has been approved. I just talked to the API, Gifford Briggs today. And now one of those with the API have been signed or drilled of the new leases because of the regulatory policies that she put in. Her administration has shut down drilling so she can ban fracking by not approving the leases. [00:23:33][35.2]

Michael Tanner: [00:23:34] Yes. So I think I don’t know where she stands on any of this. We we we know where Trump stands on a lot of stuff. I want to get to him in a second. I do think to Steelman the argument whoever’s coaching her did a great job because her point on what she kept bringing it back to was we want to get off foreign oil. I can’t disagree with that. I’d love to get off foreign oil. Do so. But but you can’t do that. Banning fracking is not going to get us off foreign oil. You want to get off foreign oil, you got to turn the taps on, baby. So there is a little bit of like, okay, well, you want to ban fracking and that’s going to get us off foreign oil. No, that’s going to get us importing a whole lot more. So there’s a little bit of a catch 22. [00:24:11][36.6]

Stuart Turley: [00:24:11] Now, Artie, I got tickled when he said that Biden killed the Keystone pipeline. But then he approved the Nord Stream, and he then that bragged about blowing it up. Yeah. [00:24:22][10.4]

Rey “RT” Trevino III: [00:24:22] You know what? What are your thoughts on, like, how many individuals out there tonight that watched that debate truly were swayed one way or the other? You know, I jokes and I got my popcorn ready, you know, because it’s obvious, you know, as you just mentioned, that should be something right there alone that millions of Americans would look at and go, man, that’s anti-American to kill American jobs, but then promote a Russian pipeline. Okay. Whether or not whoever blew it up, getting that out of it, you know, take that out of the equation. The fact that somebody killed American jobs and Russia, you know, is one thing. Not to mention the fact that this administration sold hundreds of thousands of barrels of oil from the Strategic Petroleum Reserve to China. When all they do is preach that China is bad. [00:25:09][46.5]

Stuart Turley: [00:25:09] And guess whose company was that? [00:25:12][2.8]

Rey “RT” Trevino III: [00:25:13] Well, we can get into that, too, later on another episode. That was the Hunter Biden’s, if I’m correct, right? [00:25:18][5.2]

Stuart Turley: [00:25:18] That is correct. Yeah. [00:25:19][0.8]

Rey “RT” Trevino III: [00:25:19] But you know, Michael, you also go up the great point about, my God, the banning the fracking. Production that you know what? We are still producing more oil today than we were during the Trump administration. So can you imagine where production would be at today if we were at just 50 more rigs than we were a year ago today? I mean, wow. Can you imagine how higher production would be and how much of a fight we would be having Egypt’s OPEC right now? You know, I’ve said this once or twice before. Before you go. We’re fighting right now, especially here in the great state of Texas. We’re fighting OPEC with what are behind our backs. And we’re still keeping the price where it is. [00:26:00][40.8]

Michael Tanner: [00:26:01] I mean, I look at it this way, Artie, you’re an operator. You’re about to pick up a rig. Next week, we turn in the bid to the right next week. If oil was $150 right now, you’d be running three rigs. You might have four out there. So she’s when she says, we’ve done the best for oil and gas production, it’s like, well, yeah, because prices have gone through the roof. Of course we’re going to drill because I want some of that $100 oil. [00:26:23][21.9]

Rey “RT” Trevino III: [00:26:23] Absolutely. I hope we don’t see $150 for the economy. Okay. We have the economy. The economy will crash. And as an operator and more importantly, as an empty company exploration production company, those are numbers that just as a as an American, I don’t want to see. But absolutely, when we get back to $100 oil because it’s going to happen, you will see us as an industry drill, baby, drill again and pick up at least another 50 more rigs and only increase our production, increase our supply. That’s two. You will talk to me all the time and filling back up our strategic petroleum reserves and also find OPEC even more as they continue now to flirt with adding more barrels to the world. [00:27:03][40.2]

Stuart Turley: [00:27:04] The Biden-Harris administration just several months ago, four months ago, eliminated the Northeastern strategic gasoline reserves. And they’ve been pouring that into the system and it’s lowered the gasoline prices for this election. So guess what’s going to happen on the next storm or the next time they try to borrow it? The prices are going to go through the roof exponentially the other way. So what the Biden-Harris team have done right now is destroyed. The Strategic Gasoline Reserve, the Strategic oil reserve will not be able to be refilled, period. The Biden administration that Biden-Harris administration lied about filling the SPR just recently, they said, we filled it up. No. They put an order out for 1.8 million barrels and then they came back through and, no, we’re going to no. And so it was a false number, just like their jobs numbers were, they had to recount a million jobs. Yeah. [00:28:12][67.5]

Michael Tanner: [00:28:12] I think it all boils down to it’s we’re not, you know, basically, you know, VP Harris’s position is, trust me, I’ve got it right now. It’s like, wow, I don’t know if I’m necessary. [00:28:22][9.5]

Stuart Turley: [00:28:22] Know that now. I bowl fell out of a chair when President Trump started and he says all those people in Springfield and Aurora and I thought, don’t mention the cats because I know they’re going to be ready for it. And they he did. He goes, they’re eating their pets. And I mean, they that was a set up. You know, you can tell me this. [00:28:44][21.4]

Rey “RT” Trevino III: [00:28:44] Yeah. And he was debating three people tonight. [00:28:47][2.6]

Stuart Turley: [00:28:48] that that’s what I mean. [00:28:49][1.4]

Rey “RT” Trevino III: [00:28:50] They what they did they did these fact checks out of nowhere like. no Mr. President, that didn’t happen, you know. Right. Right away they had that ready to go. Not to mention. Yep. The question and I’m going to say this, a question on the race and the debate and the campaign campaign. That was a purely planned. Good question that Carmelo was 110% prepared for the statement. I don’t know. You mean oil? As long as it’s green, baby, I’m happy. You know what I mean? You know. [00:29:19][29.5]

Stuart Turley: [00:29:20] I used to go, Yeah, I was there. [00:29:22][1.8]

Rey “RT” Trevino III: [00:29:22] I said it. I hope I took care of the energy, knew how. [00:29:25][2.5]

Stuart Turley: [00:29:25] Absolutely. I was watching body like that. [00:29:27][2.1]

Rey “RT” Trevino III: [00:29:27] Out if we need to. But I know everybody tonight you know and for for Michael Tanner who’s very even keel to even kind of go. Absolutely. Obviously, that was something there. [00:29:38][10.9]

Michael Tanner: [00:29:39] I mean, considering, you know, if you if you compare me to Stooge Twitter for I’m a left, I’m a Marxist. But here’s here’s what I think. Here’s another thing I found interesting was he was fighting all three moderators. It was, you know, there I mean, I know I wouldn’t call it a fact check in real time, but it might necessarily be that. I do find it interesting that, Stu, you talked about this and we talk about this a lot on the on on on the show is, you know, natural gas is becoming a transition fuel. And tonight, we heard a Democratic candidate tout natural gas production when it comes to being renewable. So if you’re if you haven’t been vindicated up until for the last four years for saying that now, tonight, you can find it really key because you’ve got the Democratic candidate admitting that natural gas is a transition fuel. [00:30:29][50.9]

Stuart Turley: [00:30:30] And I read it in the legislation three years ago and I said, this is coming. This is finally coming. They’re going to have to admit this is a renewable saw. Yeah. Yes. What? And it’s because that’s how they’re getting their new power plants put in because they’re making them hydrogen ready. They’ll never run hydrogen in those at all. [00:30:52][22.3]

Michael Tanner: [00:30:53] I’m going to put hydrogen nukes in our cars. Yeah, that’ll be fine. That’ll be real fun. I asked you what else you got in this debate. Anything interesting that you else you saw? [00:31:00][6.7]

Rey “RT” Trevino III: [00:31:00] Do you know what? No. I mean, other than the fact that, like I said, nothing swayed my vote left or right, I just kind of again, wonder how many people actually watched that debate tonight that were like, this is going to be what makes my decision for me. She was prepared, I tell he switched it on her when he goes, excuse me, I’m talking. I’m talking excuse me. During the Pence debate, then, you know, intense did a darn good job during that debate. I think I’ve been on the air three podcasters before to say they did a good job. I don’t know what happens in the White House. Right. Stays in the White House. But he definitely did a good job there. And he he debated against her back in 2020 very well. But she was prepared. I definitely feel like there was a little bit of a production that was going on on the team here side of things. They mentioned a lot about the Hollywood people being there and giving her tips. Maybe just because I heard that stuff, I saw it, but she was prepared. But again, no subsidy. No policy was really shared. She basically reinvigorated that everything she was against in 2019. She’s now four. And I’m sorry if your values are still the same. That’s that’s hogwash. [00:32:11][70.9]

Stuart Turley: [00:32:12] That’s a warning this morning. I want to give a shout out to Tyra. I love Tyra’s on the Gutfeld show. He was out there rolling around. If he followed me this morning. So shout out to him. I’ve been interacting with him during this. I also want to give Gunther a shout out. I saw him on there and shout him a note. He’s another big he’s in the room out there. And Trump tagged in right into the influencer room there in at the debate and he was talking to him. So it was kind of cool. I x I love me some x and interaction here, you. [00:32:48][36.7]

Michael Tanner: [00:32:49] Know, tell me that you he you see we could we could go on and on. I don’t really have anything else other than to say, you know I think we know where Trump stands. He wants to drill, baby, drill. You know, it’s he wants lower oil prices, whether that’s good or bad for the industry versus the economy, that remains for each person to decide for themselves. But I will say this. The $55 oil or $50 oil can be profitable if you deal with inflation. You know, we thought we were at our good friend JP Warren’s Connection caravan and that was an extremely hot topic being talked about. Was that one of the big reasons profitability in the oil and gas business has gone down is not because prices have really gone crazy. They’ve actually been fairly range bound from, you know, said, you know, 65 to 80. What’s gone up is the insane cost of equipment. The labor has gone through the roof. And so if you can bring down inflation, you can actually improve and maintain profitability, Lower oil prices. [00:33:51][62.0]

Stuart Turley: [00:33:51] Yeah, right. But we got to have security because of the like the article that we just ran with the Venezuelan gang stealing and meddling in the field that is affecting the supply line and security is going to be a huge security. We love our. Operators out there on the field. You’ve got to keep them safe. Get out. We got to you got to keep them from eating cats. Good grief. [00:34:16][25.3]

Michael Tanner: [00:34:17] All right, Art. We’ll give you the last word. [00:34:18][1.1]

Rey “RT” Trevino III: [00:34:19] I just want to say thank you very much to both of you all for giving me the opportunity to be here. Stuart Turley, Michael Tanner, we listen to you here at the office every morning. Y’all keep it up. Those articles, which we’re doing, is just amazing. So great job. Just so much opportunity to be a guest. And the first guest on the energy news meet and for years. And I hope I didn’t ruin it for others. [00:34:40][21.0]

Stuart Turley: [00:34:41] To. [00:34:41][0.0]

Michael Tanner: [00:34:41] Know that now we do and I ruin it every single day. So we need to just change it up a little bit. [00:34:46][4.8]

Stuart Turley: [00:34:46] Layoffs Loom as Volkswagen Fights for Survival. Volkswagen has canceled a three decade old job security agreements. How would you like to be their manager? That contract retro. [00:35:00][13.5]

Michael Tanner: [00:35:01] Big retro. [00:35:02][0.3]

Stuart Turley: [00:35:02] Setting the potential for a layoffs. It’s the part of the Volkswagen’s efforts to reduce cost among struggling Germany economy and challenging transition to electric vehicles. Their main target is underperforming namesake passenger car brand, whose profit margins are getting squeezed amid sputtering transition to image and consumer spending slowdown. There’s that recession kind of thing in there. Carmakers in Europe are also struggling to compete with Tesla and new entrants from China by by day and also selling cars at dumping price. So it’s a tough market out there and they brought it on themselves in a lot of ways. [00:35:44][41.9]

Michael Tanner: [00:35:44] They did. I mean, they’ve had troubles going back years now, especially with the stuff they got in trouble with the faking of the emission standards. I mean, come on, you just can’t get caught doing that. I think, you know, unfortunately VW has it was once an iconic brand I don’t think is the same thing. I mean, they’re having a tough time. I doubt there can be able to pull through on this one. [00:36:04][19.8]

Stuart Turley: [00:36:05] I don’t know if they’re going to survive as a company. I mean, look at HP. HP is a fraction of what they used to be, but they’re not going to be the CW either way. It sets the standard for Toyota. Toyota is going places with their hybrid hybrid technology. I would be but in truck hybrid technology, the first one with a diesel hybrid truck when I guarantee it. [00:36:34][29.0]

Michael Tanner: [00:36:34] Yeah. No kidding. I. [00:36:34][0.0][2122.4]