Daily Standup Top Stories
It truly is eye-opening to see how the world is sucking the U.S. dry through the Inflation Reduction Act. After seeing the Green Energy spike in Europe after the Not So tough Big Beautiful Bill got its teeth removed like the Bumble on Rudolf the Red Nosed Reindeer, it caused me to go and look up how much we lost to other countries.
The corruption in our government runs deep.
Europe’s Green Energy Stocks Spike on Weakened U.S. Big Beautiful Bill
This is a validation that the Inflation Reduction Act was giving money to other countries.
Iraq Power Grid Suffers as Iran Cuts Gas by Half – U.S. company bidding on LNG import facility
Iraq’s electricity grid is reeling from a severe energy shock after Iran slashed its natural gas exports by more than half, exposing the country’s fragile dependence on its neighbor’s energy supplies. The reduction, which dropped […]
What Is Going On with Syria’s Oil Restart, and Who Is in the Background?
Syria’s oil sector, long crippled by civil war and international sanctions, is showing signs of revival following the dramatic ousting of President Bashar al-Assad in December 2024. The restart of the Banias oil refinery, one […]
Dallas Fed Energy Survey
Current Report Oil and gas activity contracts slightly as uncertainty remains elevated What’s New This Quarter Special questions this quarter focus on changes to 2025 drilling plans, the impact of import tariffs on drilling plans […]
The Tariff War: U.S. Revenue Surges, Inflation Cools, and Consumers Dodge Predicted Pain
The United States is riding a wave of economic transformation fueled by an aggressive tariff strategy under President Donald Trump’s trade policies. Far from the dire predictions of mainstream media, which warned of consumer price […]
Highlights of the Podcast
00:00 – Intro
01:24 – Europe’s Green Energy Stocks Spike on Weakened U.S. Big Beautiful Bill
04:56 – Iraq Power Grid Suffers as Iran Cuts Gas by Half – U.S. company bidding on LNG import facility
08:31 – What Is Going On with Syria’s Oil Restart, and Who Is in the Background?
10:44 – Dallas Fed Energy Survey
14:39 – The Tariff War: U.S. Revenue Surges, Inflation Cools, and Consumers Dodge Predicted Pain
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:00] The big beautiful bill is a validation that the Inflation Reduction Act was giving money away to other countries. That and more on the Energy Newsbeat Daily Standup. [00:00:09][9.1]
Stuart Turley: [00:00:16] Hello everybody, welcome to the Energy Newsbeat Podcast. My name’s Stu Turley, President and CEO and Sandstone Group Today is July 3rd, right before the July 4th holiday. Buckle up, got some news stories for you. First one around the corner, Europe’s green energy stocks spike on the weakened U.S. Big beautiful bill. If you don’t like why is the Inflation Reduction Act really there, it’s a scam. Iraq power grid suffers as Iran cuts gas by half. Iraq power grid suffers as Iran cuts gas by half, US company is bidding on a LNG import facility. What is going on with Syria’s oil restart and who’s the geopolitical player in the background? We’ve got the Dallas Fed survey out. It’s got a lot of information out here and an update on the tariff war. US revenue surges, inflation cools, and consumers dodge predicted pain. You can’t buy this kind of entertainment. With that,. [00:01:24][67.4]
Stuart Turley: [00:01:24] Let’s start with our first story here. Europe’s green energy stocks spike on weakened US big beautiful bill. This is a validation that the Inflation Reduction Act was giving away money to other countries. Just when you thought it was safe, European green energy stock surged Following the U.S. Senate passage of President Donald Trump’s big, beautiful bill on July 1st, the legislation initially feared to be a death kneel for the renewable energy emerged with softened provisions that alleviated concerns for the global clean energy sector. It was watered down. While the bill phases out renewable energy tax credits after 26 for projects not meeting these timelines, the softened provisions were reliefed for the renewable sector, but people do not understand how much this will still increase their energy prices. There is something you’ve heard on the Energy Newsbeat Podcast. Renewable energy, renewable of wind, solar, and hydrogen. The more you spend in these, the more fossil fuels will be used. And a converse of that is the more wind and solar on your grid, the more expensive your electricity is. These are hard and fast rules that are going on here. Alex Epstein was absolutely wonderful. He was on top of it. I’ve got a nice chart in here that he had put out where the house bill BBB was and where the Senate bill was. We’re still waiting to find out at the time of this recording what is gonna happen if they’re gonna give take what if there’s gonna be anything else to it. But European green energy stocks went, yay. The news triggered a sharp rally in European stocks with several major players seeing significant gains. US wind turbine supply VETRUS, a strong foothold in the US applying turbines for major onshore and offshore wind projects, global offshore expansion Vestas is scaling up production in projects in Europe. So they’re excited that they’re going to be able to siphon in on this. US wind or stead is developing several high stead offshore wind projects on the US coast. So they’re happy. Implications for the global energy transition. The rally in European green energy stocks reflects a broader sigh of relief in the renewables sector, but challenges remain. The US bill, while less punitive than initially proposed, still accelerates the phase out of credits, which would leave. Thousands of unprepared to meet their 2026 deadlines. But as Alex pointed out, they have really softened the way entry points and you can go put a quarter on the ground. I’m exaggerating, but you can start the project and go, we’ve started the project. And I’m going, right. So be careful on what you consider starting a project. If you pay a consultant to sit there in a glat hut or a mobile home, is that starting a wind farm? I don’t know. [00:04:56][211.3]
Stuart Turley: [00:04:56] Let’s go to the next story here. Iraq power grid suffers as Iran cuts gas by half, but a U.S. Company, as I reported before, is bidding on an LNG import facility. Iraq’s alleged electricity grid is reeling from a severe energy shock after Iran slashed natural gas exports more than half, exposing the country’s fragile dependence on its neighbor’s energy supplies. The reduction, which dropped deliveries 25 million cubic meters per day from agreed 55 million, has shut down several gas-fired power plants. This brings up huge issue and that is despite holding the world’s fifth largest crude oil reserves, 145 billion and ranking 12th globally in natural gas, Iraq remains heavily reliant on Iranian gas and electricity exports because of their management and their leadership. Bad energy leadership equals high prices. Guess what? Get new leadership. I know that’s oversimplification, but high energy prices result in regimes changing. This is important. The timing of Iran’s gas cut coincides with heightened regional tensions in the U.S. Policy shifts. Iraq’s pivot and the path ahead in response to the crisis. Iraq is scrambling for alternatives and the Ministry of Oil is exploring LNG imports. From Qatar and Oman and the United States company, US or Accelerate Energy is putting in a bid for this and I’ll be tracking that. I have previously reached out to the CEO of Acceler8 to interview them. I think they’re doing a phenomenal job and I think that it’s interesting that energy security starts at home. And if you’ve got all these natural gas fields, invite in US based oil and gas operators and say, help us take advantage of our own natural resources. If you can’t do that, get a US based LNG import facility moving to get you hold you over. That’s not a bad thing either. [00:07:20][144.0]
[00:07:21] Steve Reese has said it best. Steve Reese, sponsor of the Daily Energy Newsbeat show. Want to give them a shout out, go to energy newsbeat, or excuse me, go to energynewsbeat.co or .com and, but go to Steve Reese, energyconsulting.com Reese energy consulting.com. If you’re in the midstream space, if you’re a AI data center and you’re looking to go out and say, wait a minute, where do I build my data center? They can find you. They can source you all the natural gas you need or all the power you need. They are the great ones. They can take molecules from the Haynesville all the way to Poland to Germany. And we’ve had some great conversations. I’m looking forward to meeting with this co-company there that he has got working with, and I’m look forward to doing some interviews with them. They are wonderful people. [00:08:12][51.4]
Stuart Turley: [00:08:13] Let’s go to the next story here. What is going on with Syria’s oil restart and who’s in the background? I had fun writing this one. This is Syria’s Oil Sector, a glimmer of recovery before the civil war erupted in 2011, Syria was a modest, but self-sufficient oil producer pumping around 400,000 barrels per day. From proven reserves of 2.5 billion barrels. Natural gas production was equally significant. But why does there a regime change in Syria? It’s because he did not want pipelines going through his country to go to Europe in the U.S. Petrodollar. I’ll let you take it from where there, but it was actually going to be good for the country to make money off of it, but he didn’t want it. So he was ousted out. The geopolitical players now, everybody’s circling the wagon. And if you go to the article on energy newsbeat.co, you can see by that map where Syria is, it is right in the middle, north of Saudi Arabia in that area. You could go from Iran over to Iran and Iraq over to Turkey. And Turkey has been actually wanting to be. The hub for natural gas for a long time. They’re also wanting to put in extra railroads and geopolitical leverage being this land bridge. My interviews with George McMillan have been phenomenal and he’s taught me a lot about the sea strategy and land strategy. And this is an important land bridge that is going on. A new chapter in the great game, make no mistake, prior leadership in Syria was taken down because they refused to put in pipelines and where energy meets politics, regimes will change with the wrong choices. You heard me right. Syria’s oil restart is more than a local energy story. It’s a chapter in The Great Game of geopolitics where energy infrastructure and power coverage. The land bridge through Syria with its potential of pipelines and railroads is a prize that Russia, China, Iran, and the U S and Turkey are all contesting she’s the new bride at the ball or beauty queen at the ball, I guess I don’t know how to say that it’s been so long since I’ve been to a beauty queen pageant. Just kidding. [00:10:43][150.1]
Stuart Turley: [00:10:44] Let’s go to the next story here. Dallas Fed Energy Survey. This is something that comes out quarterly and what’s new this quarter changes on the 2025 drilling plan. It plans the of import tariffs on drilling pans and well costs. There is a lot to impact out of this. Go read it on energynewsbeat.co for overall demand for employees fell slightly and those on the job tended to work fewer hours. The aggregate employment index decline from zero to minus 0.66. In the second. Additionally, the aggregate employee index decreased from 0.07 to 0.51. But when we take a look, the next release will come out September 24th. We’ll be on it as well when that comes through. Let’s take a look at the survey. The survey says, what is West Texas intermediate crude price going to be at? We can see that most people felt that it was going to be in the 77 range in the next five years. I think that’s a pretty good bet. And especially when you consider why, where do you expect prices, WTI prices between the 65 and 75 range again, rock solid on their, their predictions or their survey. Again, these are surveys of top oil and gas executive. That’s why it’s so important. You take a look at Henry Hub, you can see that it ranges from $3.66 to $4.50. And I agree with this, especially when you consider the molecule demand is changing in the industry and the molecule demand. What I mean by that. And you’ve heard me say it. If you’ve listened to the show before molecules, natural gas will be more in demand for the long haul for LNG exports, LNG trucks are going to be coming on the scene soon. They’re all over the rest of the world. You’re gonna see more ships being done in LNG. You’re going to be seeing more LNG and more natural gas. And then the special questions, how is the number of wells you’re firm to expect to drill changed? This looks like a kind of an even map. The biggest one, no change. As for the big boys, the decreased significantly was only a few. And I need to dig into this because I believe that the folks that the big boys are going to just carry on. The smaller ones that we do business with both big and small, but we’re, we’re evaluating wells. It’s about well economics. As we look at the wells, it makes a significant difference. Is it a standard well? Is it just, or is it a horizontal fracking? There is a significant. Difference in how much it’s going to take. What are the offsetting wells? There are too many questions to ask. And I have a feeling that I know who some of these folks are and how they answered after talking to some of them. But let’s go to executive at large EMP were most likely to pick no impact relative to executives, small EMP firms. Thought that was very interesting. How would you estimate the tariffs have increased your firm’s cost? This is all over the board. The most selected response was increase of four. To 6%, 26% of the respondents followed by no change. So I believe that the consumers have not been hit by that, but I do know that there are some areas that costs have been increased because of steel. Steel is a, is a huge issue. So that has really come through. But again, hats off to the Dallas fed for getting the survey out there. Lots of data. Michael and I will go through this again later. [00:14:38][234.4]
Stuart Turley: [00:14:39] Let’s go to the last story here, the tariff war, US revenue surges, the inflation cools and consumers dodge predicted pain. Right on the front, a picture of this article for our podcast listeners, you can see a picture of President Trump holding up a sign going, I was right. Of course, I asked Grook to create that picture, but it still looks pretty good. President Trump was right all along and everybody that was fearful and saying that tariffs are bad don’t understand. Financial impact of what is going on. I just want to give President Trump a shout out and say, well done. When looming in July deadline for new trade negotiations and reported deal with Vietnam, the U.S. Is reshaping global trade. We’re hearing that India is about to sign right now. The U.S. Treasury has put in 95 billion in tariff revenue right now as of June 24th. Staggering 134.9% increase over the same time. I talked to a few folks and I’m going to call them up and go, hey, do you remember our podcast recording when you said you thought tariffs were going to take the country down? Here’s a phone call about ready to happen for you there. Anyway, 2025 surge reflects expanding tariffs including high rates is 30% on Chinese. This is also exposing how precarious the Chinese economy is right now, folks. If you haven’t been paying attention… China’s economy is now potentially facing, the leader is potentially facing a change. And when a wolf is in the corner, they bite. Either they go to war, careful hint there, or they have a regime change and they take a look. We need to find out who the next later is going to be. Watch China. This is going to be very, very important. So as we go through this, I just want to give a shout out to our team with Trump and the energy team there, they’re doing a phenomenal job. And I just wanna give a shot out to Jennifer Granholm for not being in the news. You will not be missed. [00:16:55][136.1]
Stuart Turley: [00:16:56] Thanks and have a great day. Like, subscribe, share. Read this to your pets, read this to your kids, and if you want to have your kids take a look at energy news, beat.com and realize that there are wonderful jobs out there. And if you’re out there using AI for your homework, don’t learn something instead. Have a great day and look forward to speaking to you all soon. [00:16:56][0.0][1003.8]
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