Daily Standup Top Stories
Ghost Factories Are a Warning Sign for Green Manufacturing’s Future
The promise of a green manufacturing boom, fueled by generous subsidies and ambitious climate policies, is unraveling across the United States and beyond. So-called “ghost factories”—abandoned or stalled clean-energy projects—are becoming a stark symbol of […]
Iraq Lifts Oil Output by 80,000 bpd Across Three Key Fields
Iraq’s Dhi Qar Oil Company has raised oil production by a combined 80,000 barrels per day across three strategic southern fields, Nasiriyah, Gharraf, and Saba, IraqiNews reported on Monday, marking one of the country’s most significant boosts […]
Highlights of the Podcast
00:00 – Intro
01:03 – Ghost Factories Are a Warning Sign for Green Manufacturing’s Future
06:30 – Markets Update
08:17 – Iraq Lifts Oil Output by 80,000 bpd Across Three Key Fields
Follow Stuart On LinkedIn and Twitter
Follow Michael On LinkedIn and Twitter
Need Power For Your Data Center, Hospital, or Business?
Is Oil and Gas An Investment for You?
– 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: [00:00:00] Oil prices up off bad tariff news next on the energy news beat daily stand up. [00:00:06][6.3]
Michael Tanner: [00:00:14] What’s going on, everybody? Welcome into the Tuesday, June 8th, 2025 edition of the Daily Energy Newsbeat Standup. Here are today’s top headlines. First up, Ghost factories are a warning sign for green manufacturing’s future. A really interesting followup to some of this one big, beautiful bill stuff. We’ll then jump over and quickly cover what happened in the oil and gas markets today. Price is actually rising on some specific trade. Tariff agreements. And finally, Iraq lifts oil output by 80,000 barrels across three key fields. I saw this was super interesting because we usually don’t get a lot of this type of granular production data out of Iraq. And we will cover all that in a bag of chips. Guys, as always, I am Michael Tanner. Stu is again out on assignment. So quick solo show for me. We’ll be back in the chair at you tomorrow. Where do we wanna begin? [00:01:02][48.1]
Michael Tanner: [00:01:03] All right, ghost factories are a warning sign for green manufacturing’s future. I mean, this is really interesting because as we’ve been talking about recently, obviously the one big beautiful bill phases out energy subsidy or wind and solar subsidies that were in the Inflation Reduction Act or as we like to call it the Porky’s bill. And but what they did at the last minute was if you watched yesterday’s show, they switched the language a little bit and it’s now well it doesn’t phase out by 2027 as long as your project is quote in construction and I’m using quotes for those podcast listeners in completion or in construction you will now be able to get the tax benefit for the full life of the project. So this is only going so that one big beautiful bill is only going to enhance what we’ve sort of already seen, which is the so called ghost factories or abandoned and stalled clean energy projects. It’s pretty unbelievable. So to give you guys an idea, here’s here’s the impact of these and here’s what’s going on, you’ve basically got all of these projects, which were started, but have now stalled because they don’t quite have the capital, but they needed to in order to get the tax subbies. Something we’re gonna see a lot more of because of the one big beautiful bill. So first up, Buckeye, Arizona. Core power, one billion dollar battery factory basically leaving a 214 acre lot empty after doing initial ground work. Oh, but it’s in construction. The company’s CEO has stepped down. That seems interesting, very interesting. So there’s also a wind turbine factory in Massachusetts that was scrapped. We’ve got a Georgia EV battery component facility was suspended mid construction, you know, Colorado lithium battery plant was also put on hold in the middle of construction. According to, this is a stat for you right here, according to Atlas public policy, 9% or about 10% of the $261 billion in green factory investments announced as 2021 has been shelved or canceled during the middle of the construction, and most of that has occurred Since Trump came into office 2025. So what does that mean? They’re souring on this and this is only going to get more again Why did they abandon it? Well, they didn’t abandon it. They abandoned it because it doesn’t make economic sense why did they start it will be started because you’re handing out free money it goes back to incentives and i i’d bang my fist on the table and it’s not just because i studied economics that i scream about incentives Show me the money and I will show you an incentive. Meaning if you just give people free money, you are going to change behavior. Now that can be a good thing. It can also be a bad thing. And that’s where I come down on this. It doesn’t really matter the efficacy of these solar projects. But what we’re seeing, and these wind projects, what we are seeing is that if they had to go dollar for dollar up against other alternative energy sources, they’re going to lose. On a dollar-for-dollar investment ROI basis? Or why would they not be building? Why wouldn’t everybody be building this? Why wouldn’t Chevron be trying to take over the wind farm business? I mean, if anyone has the capital. To build massive wind farms. It’s Chevron, I’ve never figured this out. People say, oh well, big oil hates wind and solar. They’re probably actually the best companies set up in order to manufacture and deploy large scale wind. But why aren’t they in it? Well, because they don’t want a dollar for dollar basis. It doesn’t make fiscal sense. It doesn’ stack up to what they currently do. So I think you’re only going to see these ghost factories get a lot better. It’s bleak for wind and solar, or a good thing if you’re on our side of the screen, where we’re not a big green subsidy people, so I think it’s super, super fascinating, and this will definitely be one to watch. [00:04:47][224.4]
Michael Tanner: [00:04:48] Let’s jump over, quickly touch on finance stuff, guys, before we do that, let’s quickly pay the bills, as always. Check us out at www.energynewsbeat.com, the best place for all your energy and oil and gas news. Stu and the team do a tremendous job making sure that website stays up to speed, everything you need to know to be at the tip of the spear when it comes to the energy and the oil and gas business. Hit that description below for all links to the timestamps, links to all the articles. Check us on Substack, www.theenergynewspeat.substack.com. The best place if you want to support the show, subscribe, subscribe to our Substack. If you do feel so inclined, go ahead and sign up for a paid subscription. It allows us to keep. Doing what we’re doing. Shout out to friends of the show, Reese Energy Consulting. Guys, go to ReeseEnergyConsulting.com for all your midstream needs. Guys, they have clients ranging all the way from two guys in a garage, all the up to the largest publicly traded companies in the world. So if you’re wondering if you are a fit or not for Reese Energy, you are fit because you have needs, you have problems that you’re dealing with in the midstream space, and they can solve it. ReeseEenergyConsulting.com. Tell them Energy Newsbeat sent you and they’ll give you $2,000 discount. That’s a joke, but they might, but they will enjoy the fact that we sent you there. ReeceEnergyConsulting.com. And finally, guys, InvestInOil.Energynewsbeat.com If you are wondering if energy or oil and gas investments is right for your portfolio, go ahead and go to InvestIn Oil.EneryNewsbeat.Com. Fill out our oil and gasoline portfolio survey. It will tell you. And give us an idea where you stand from an energy and oil and gas inclusion in your portfolio. And based on your responses, we will send you information and possibly point you in the right direction when it comes to oil and gas investing. That’s InvestInOil.Energy, news beat. [00:06:29][101.0]
Michael Tanner: [00:06:30] Let’s just quickly run through top line indices. Markets a little soft today. S&P down about eight tenths of a percentage point. NASDAQ down about eight tenth of a percentage point, two and ten year yields up about two-eighths of a percentage points, eight tenth’s of a percentage point dollar index rebounds a little bit today up about six tenths of a percent point. We saw Bitcoin drop about $1,200 today down to $107, $108 basically trading at that low point right now. Crude oil jumped to about $68, $67.95 that’s up 1.5 percentage points. Brent oil up about five tenths of a percentage point up to 69.33. Nat gas basically flat three dollars and 40 cents on the nose. XOP was our EMP securities contract down about one point one percentage points down to one twenty seven seventy five. I mean, really, you know, there’s two things. Obviously we talked yesterday about OPEX raising their oil production by five hundred and forty eight thousand barrels relative to what was supposed to just be. A 411. We also are expected to see some, some demand, you know, there is some, some tariff stuff coming on. So there’s really two things on the bull side or on the bear side that’s holding prices back the whole China, you now that deal, you know, we’re not, we are not a tariff podcast here, but the noise that’s coming out of what’s going on with those trade negotiations is not looking good from a Chinese standpoint. But what we are seeing is that a demand could come back. We did see a record number of Americans traveling. For July 4th, so that’s a strong indicator of demand. I think there’s some other things that I think we’re seeing specifically going on with what’s going on in the Middle East. Prime Minister Benjamin Yahoo will be at the White House today actually as we record this, so depending on what goes on in the Middle east could be spicy, but lots of interesting things going on there. [00:08:16][106.0]
Michael Tanner: [00:08:17] I think the only other thing I saw today was Iraq lifts oil production by 80,000 barrels across three key fields. The only thing I want to point out here is normally we don’t get a lot of this granular production data, okay? But according to Iraqi news, seven new wells were drilled in the Niseryaf field alone, lifting oil production from 52,000 barrels to 70,000. 18,000 a day divided by seven. That’s a big number. That’s over, that’s a nice big number, I mean, it’s unbelievable. That goes, and these are vertical wells guys, you got to remember these are vertical wells. 18,000 barrels a day out of seven wells you’re talking like three thousand little less than three thousand, you know, two thousand barrels a Day, twenty five hundred barrels a, day unbelievable what they can do with just vertical wells. It goes to show you why OPEC does really control the keys to the kingdom when it comes to supply. They can just, boop, oh, we need 20,000 barrels a day. Let’s go drill some wells. Unbelievable, I always love looking at this stuff. 2,500 barrels a days from a vertical well. We don’t got that over here, trust me, I promise you that. [00:09:20][63.8]
Michael Tanner: [00:09:21] That’s really all I saw, guys. Quick, quick news day today. Stu is last day of travel, and so we’re holding down the fort for him. He will be back in the chair with me tomorrow. And we will keep you up to speed with everything you need to know. Otherwise, guys, I’m gonna let you get out of here. Quick show for me. Thanks for checking us out, energynewsbeat.com. We’ll see you tomorrow. [00:09:21][0.0][549.6]
Share this post