Daily Standup Top Stories
Leftists Beg Feds To Cut Interest Rates To Revive Green New Deal Projects
Leftists are desperately hoping the Federal Reserve cuts interest rates, believing higher rates are hampering the ‘country’s ability to combat the climate crisis.’ Leftists are desperate to have the Federal Reserve cut interest rates, […]
Global Power Demand Is Soaring, IEA Expects 4% Growth in ’24 & ‘25
ENB Pub Note: We recommend following and subscribing to Robert Bryce’s Substack. I have thoroughly enjoyed my conversations with him on my podcasts. Electricity is the world’s most important and fastest-growing form of energy. […]
India issued vesting orders for 10 coal mines
These are projected to generate $19.96m annually. Coal Minister Shri G Kishan Reddy, has announced vesting orders for ten key coal mines across Jharkhand, Chhattisgarh, West Bengal, and Madhya Pradesh. This includes one fully explored […]
Chevron Taking Its Headquarters To Texas
U.S. oil and gas giant Chevron announced Friday it will relocate its corporate headquarters from its long-time location in San Ramon, hashtag#California to Houston, hashtag#Texas in the coming months. In a release, the company said […]
DAVID BLACKMON: Continuing EV Bloodbath Leaves Harris With A Lot To Answer For
Once the ongoing effort by the legacy media to reinvent presumptive Democratic nominee Kamala Harris as a dynamic leader and competent campaigner passes, we will presumably enter the part of the presidential race in which […]
Shell Initiates £2 Billion Share Buyback Program
Shell reported adjusted earnings of $6.3bn for the second quarter, beating analyst consensus. The company initiated a $3.5bn share buyback program, to be completed by the third quarter results. Shell’s focus on value under CEO […]
Highlights of the Podcast
01:42 – Leftists Beg Feds To Cut Interest Rates To Revive Green New Deal Projects
03:19 – Global Power Demand Is Soaring, IEA Expects 4% Growth in ’24 & ‘25
05:11 – India issued vesting orders for 10 coal mines
06:04 – Chevron Taking Its Headquarters To Texas
08:25 – DAVID BLACKMON: Continuing EV Bloodbath Leaves Harris With A Lot To Answer For
10:05 – Shell Initiates £2 Billion Share Buyback Program
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:14] Hello, everybody. Welcome to Energy News beat daily stand up. My name Stu Turley, president and CEO of the sandstone Group. Today is August 5th and it is a wild week. We are only 90 some odd days away from the election, so buckle up and hang on. Michaels out on vacation today. So let’s take a look at our top stories today. Leftists beg the feds to cut interest rates to revive Green New Deal projects. Wow. Didn’t see that one coming. Global power demand is soaring. The IEA expects 4% growth in energy in 2024 and 2025. India has issued vesting orders for ten coal mines. This is coal mines, not power stations. This is coal mines. This is huge. Chevron is taking its headquarters to Texas. I’ll tell you what. Deindustrialization is happening in California and they are encouraging it. Oh David Blackmon continuing EV bloodbath for it leaves Harris with a lot to answer for energy policies and deindustrialization go hand in hand. Let’s go to the last one here. Shell initiates a $2 billion buyback program. Holy smokes. Great for shell investors. Were happy to see that. [00:01:42][88.2]
Stuart Turley: [00:01:42] Let’s go to the Leftists begs feds to cut interest rates to revive Green New Deal projects. This is an amazing story. When we sit back and take a look at this. This is from Brett Bart. And let’s take a look at this symphonies Tim McDonald wrote. But interest rates touch on a particularly sore spot for the industry, its ability to turn a profit in the volatile, cutthroat power market. Cheaper borrowing means better margins and gives the industry a buffer, even though it’s a small against the political risk to the energy transition from Donald Trump presidential campaign. Renewables started to go mainstream in the 2000, and in a period where interest rates were close to zero, a kind of training wheels for the environment with cheap borrowing made it easier for project developers to deliver on their investors profit expectations. Jen Harris, the director of the Economy and Society Initiative at the William and Flora Hewlett Foundation, wrote about how the Federal Reserve raising interest rates to fight inflation is slowing our fight against climate change. It’s going to happen, folks. Renewable energy has to be sustainable, and if you cannot sustain it on its own merit, then it’s truly not sustainable. So physics and fiscal responsibility matter in the grid. So let’s go to our next one here. It’s not going to be lighting up anytime soon. Or lightning up I should say. [00:03:19][96.9]
Stuart Turley: [00:03:19] GLobal power demand is soaring IEA expects 4% growth in 2024. In 2020, farm electricity is the most important and fastest growing form of energy. More proof that assertion came a few days ago when the IEA released its electricity mid-year update. The Paris based agency expects global power demand to grow by 4% this year. That’s the fastest growth since 2007. This is just crazy. This is from a great Substack article by Robert Bryce. Absolutely love, Robert Bryce. You must go follow his podcast, follow him on his Substack. Follow him on his LinkedIn. He is just a national treasure. Over the last three years, China has been adding an average of roughly one Germany each year in terms of electricity demand. Holy smokes, that is amazing, especially when you consider the deindustrialization of Germany is happening because of the left leaning policy to green energy. And green energy is not sustainable in its current technology. You cannot support it. Listen to this. China dominates the global market for coal at a much greater degree than any other fuel, accounting for 58% of world demand. Wow. It’s going to flatten. It’s beginning to flatten in China. But coal still accounted for 60% of the energy supply in electrical generation. Wow. China’s coal investment in 2023, or about 110 billion. Dollars. Wow. [00:05:10][110.9]
Stuart Turley: [00:05:11] Let’s roll over to India. India issued vesting orders for ten coal mines. These mine, with a combined reserve of 2395 million tons, are expected to boost the country’s energy security and economic growth. They’re projected to generate 19 million or an extract. And I believe this is Indian currency, so I’ll try to get that in the show, notes Reddy and called on successful bidders to focus on increasing production and cutting imports, while emphasizing environmental and sustainability. You can do coal cleaner than just throwing it out there. You can do it properly. There are proper technology that you can use. Hats off to India. Go forth and use coal and do it right. [00:06:04][52.4]
Stuart Turley: [00:06:04] Chevron taking its headquarters to Texas. This is an amazing story when you take a look at Elon. I love Elon Musk and his purchasing of X, his rockets and everything else he’s picked up and he’s left. We’re watching the deindustrialization of New York and California following, just like the deindustrialization of Germany. And that is left wing. Woke energy policies and woke policies will cause companies to leave. And that is billions of tax revenue that Chevron’s taking with it. Chevron and its predecessor companies have a long history in the state, tracing back to 1879 the founding of the Coast Oil Company, and in 1900, Pacific Coast was bought by John D Rockefeller’s Standard Oil, what they now call create Chevron was created in 1911 under the Standard Oil of California, and then with the breaking up with the Standard Oil monopoly. Chevron grew in great spurts in the past 40 years with big company mergers, and most recently, Chevron paid 13 billion to be an independent producer in noble energy during the depths of the 2020 pandemic, and then in October entered into a 53 billion all stock deal to merge with Hess. California’s leaders made it increasingly clear they no longer value oil and gas. And what’s funny, and it’s really sad that California is doing more harm to the the world’s environment by buying all of the oil that they can from China, from the rainforest. California is 70% responsible for the death of the rainforest in the oil that they purchased. This is absolutely hypocrisy at its finest. You can’t buy that kind of hats off to Chevron. Hats off to the investors and well done. Go to Texas. Leave your air, your and all your thousands of high paying jobs that you’re bringing to Texas to please leave your voting policies in California. [00:08:24][140.1]
Stuart Turley: [00:08:25] Here’s a great article from David Blackmon. You want to follow David Blackmon on his Substack. Blackmon.substack.com continuing EV bloodbath for Harris with a lot to answer for. The pollution from vehicles powered by fossil fuels has long harm the health of communities, says Harris. Around our country. But there is a solution to the problem. It’s parked right behind me electric cars, trucks and busses. They don’t produce tailpipe emissions like they irritate the nose in the eyes that decreased lung function, Harris added. This means manufacturing millions of electric cars and busses right here in our country, and that means outfitting thousands of EV vehicles and repair garages just like this one. And it means installing national network of EV chargers. This is the same woman that has put out $7.2 billion for, I believe, six, six, 60 Chargers. You cannot do this. It is economically malfeasance. In order to curry continue this charade. They had 60 busses created with $7.3 billion. Unbelievable. Waste of money. Unbelievable. Excellent article from David Blackmon. There’s some new information coming about the Inflation Reduction Act and how it’s being used to go after voting blocks. I’ll have more on that story later. But that is supposed to be an inflation reduction act. And there’s a lot of talking less information that was in that. [00:10:05][99.4]
Stuart Turley: [00:10:05] Let’s go to shell. Shell initiates a 2 billion. Share back $2 billion share back. Wow. Shell is adjusting earnings of 6.3 billion for the second quarter. It’s a 3.5 billion share buyback program completed by the third quarter. And Shell’s in a buyback program, as it’s posted, is in better than expected numbers for the second quarter. Announced a 2 billion in in Q2, an impairment of 1.6 billion impairment in slide revenue. Here’s some rumblings that are going on between shell and BP. We just heard me talk. Chevron moving to Texas. BP is really considering leaving the UK. And so when you consider leaving the UK and you have shell looking to get listed on the New York Stock Exchange and you have other things going on, people are going to go where they can do friendly business. Just try to have a modern society without oil and gas. You can’t make products from wind and solar. You have to use oil and gas. So you’re not going to have a modern society without oil and gas. You need to have a balanced diet of all form of energy. [00:11:31][85.8]
Stuart Turley: [00:11:32] So with that, would you please subscribe? Like if you’re in the market for LNG, oil and gas go to energy news be.co/um trading desk and it’ll be in the show notes. And I just want to give a shout out to my neighbor. I was wearing my Trump hat out there the other day. And he’s been voting a Democrat all of his life, and he’s now voting for Trump said he can’t afford their policy. So anyway, have a great day, hug your neighbor and try to make sure you’re ready to vote in November. Have a great day! Talk to you all soon. [00:11:32][0.0][673.8]
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Chevron Moves to Texas