Weekly Daily Standup Top Stories
Biden’s DoD Doubles Down On Climate Action As Trump Promises Military Reset
December 14, 2024 Andy Del Prado
The DoD’s focus on climate change over national security reflects Biden’s top policies. Trump pledges to refocus on defense priorities. Given the state of affairs in Ukraine and the Middle East and the rise […]
Trump is a nightmare for the EU in more ways than one
December 15, 2024 Andy Del Prado
ENB Pub Note: This article from RT has some interesting points. While I do not agree with everything, it is worth noting that President Trump is looking at the U.S. / EU relationship on an […]
Germany Is An Economic Model For What Not To Do
December 16, 2024 Clark Savage
Many Germans liked to see their country as a global leader in the fight against climate change. Despite Germany being responsible for only 1.5 percent of man-made CO2 emissions worldwide, advocates for climate action argued that Germany […]
Forget Short-Term Noise: Oil Prices Are All About the Long-Term Trend
December 16, 2024 Clark Savage
Well, it is year end 2024, time for all respectable pundits to earn their keep by making predictions or by bloviating on the latest topic somebody has latched onto. So, we approached our favorite pundit, […]
Trump expected to annihilate California’s ‘green mandates’ – the most radical in the world.
December 17, 2024 Clark Savage
ENB Pub Note: I have enjoyed reading Ronald Stine’s books and having several great interviews and conversations about energy. I highly recommend signing up for his newsletter and reading his books. He is truly a […]
DR Congo sues Apple over ‘blood minerals’
December 18, 2024 Mariel Alumit
The African state’s lawyers see it as a step toward holding the US tech giant accountable for its policy of “endless enrichment” The Democratic Republic of Congo (DR Congo) has filed criminal complaints in […]
eded. They have produced a report which identifies opportunities to optimise interconnector benefits and challenges current […]
Highlights of the Podcast
01.50 – Biden’s DoD Doubles Down On Climate Action As Trump Promises Military Reset
04:18 – Trump is a nightmare for the EU in more ways than one
07:17 – Germany Is An Economic Model For What Not To Do
09:58 – Forget Short-Term Noise: Oil Prices Are All About the Long-Term Trend
12:03 – Trump expected to annihilate California’s ‘green mandates’ – the most radical in the world.
15:10 – DR Congo sues Apple over ‘blood minerals’
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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 of the Daily Energy News Beat Stand up here on this gorgeous Saturday, December 21st, 2024. Holy smokes, Stu. It is the last week, full week of 2024. We made it. [00:00:28][17.3]
Stuart Turley: [00:00:28] Barely. [00:00:28][0.0]
Michael Tanner: [00:00:30] We barely made it. And it’s it’s pretty, pretty intense. But we appreciate everybody. Stand it. Here’s our weekly recaps. Doing the team kind of bring together as much of the top stories from the week as we can. Stu held the fort down for about two solo shows this week, so thank you there, But we got a lot of great stories will be kind of in and out the next two weeks, kind of being Christmas on this weird day. We’re going to get you a lot of yearly recaps, so there’s plenty of content. We’re kind of going to empty the drawer for 2024 and get us rolling into 2025. I’m guys, as always before quickly we throw it over to the team. Thank you for checking out energy use Bitcoin.com Description below All links to the Times text. Thank you to all of our premium Substack subscribers. The Energy News Be that Substack AKAM. If you want to get access to our premium subscriber list, I’m go ahead. We have some great plans for some upcoming promotional offers to God of giving our premium subscribers access to new things. There’s a lot of cool stuff, so get in now while prices are this low. If you do want access to our premium subscription on Substack, we appreciate everybody who has done that. And as always, guys, invest in oil dot Energy newsweek.com. If you need help solving taxes towards the end of the year, trust me, we’re getting close. We will do that. But I’m going to go ahead. Stu tossed over the team for the weekly recap. We’ll see you Monday. [00:01:48][77.6]
Stuart Turley: [00:01:48] Biden Dodd Doubles Down on Climate Action as Trump Promises Military Reset. Michael You can’t buy this kind of stupid Climate change does not constitute a current threat to U.S. national security. But the DOD leaders think otherwise. Quote, In fact, the DOD believes the climate crisis is a national security priority. On December 11th, the DOD announced its concern with climate change in Africa. What climate stressed areas are recruiting areas for terrorist groups? What is got to do with that is just unbelievable. Here’s another horrible quote. The Department of Defense has identified climate change as a national security issue and threat multiplier and top management challenge and must take bold steps to accelerate adaptation to reduce adverse impacts of climate change. This is the dumbest thing I’ve ever heard. Do you remember, Michael, when we talked about them putting solar panels on tanks? [00:02:50][61.3]
Michael Tanner: [00:02:50] Yeah. I mean, though that that’s not going to work. Again, this is not the Department of Defense’s job to worry about climate change. Let’s say. Let’s just play this out. Even even if I was full board climate change, you know, again, remember climate change, they’ve done a sleight of hand here. When I was, you know, when I was growing up, it was global warming. And they’ve done a little sleight of hand to say climate change to account for the fact that if it happened to get colder, they’d be covered as well. So it’s sleight of hand, but let’s just say climate change, as sold by the corporate media was correct. Let’s assume that alternate universe, let’s assume climate change is the corporate media says it is is true. It’s still not the Department of Defense’s job to worry about climate change. It should be the Department of Energy. It should be any one of the other two parts, the Department of Interior or any other of these departments that actually deal with the environment, the Bureau of Ocean Management or whatever, not the D.O.D.. And hopefully this is stuff that Doe is able to come in and clean up. Yes. Do we need it? Just got the Department of Defense? No. Are they spending a lot more money than they should? Yeah, they probably should. They probably should take a little bit of a budget hit and we’d probably be just fine from a defense standpoint. So again, this is classic government, just idiotic, you know, idiocy thinking the D.O.D. should be the ones worried about climate change. [00:04:10][79.9]
Stuart Turley: [00:04:10] Absolutely. And well said, Michael. Outstanding. You should take me. [00:04:15][4.6]
Michael Tanner: [00:04:15] I’ve got a week off. I’ve got a lot of pent up stuff. [00:04:17][1.8]
Stuart Turley: [00:04:18] Trump is a nightmare for the EU and more of the ways. And one this actually came in and I thought it was from is from R.T. which is the Russian your. [00:04:28][10.0]
Michael Tanner: [00:04:28] Favorite news source? Russia Times. [00:04:29][1.2]
Stuart Turley: [00:04:30] Yeah, Russia Times maybe. But it was interesting. I don’t agree with everything in it, but it has some great points. Well, first, there’s Russia. Regarding Moscow, Trump seems ready to talk in a substantial manner, which we’ve not seen since since the Cold War. Trump is realizing he would rather do business with Russia, then rather try to have a Cold War. I applaud Trump’s methodology there, but he’s also put out that challenge to Russia and saying, Wait a minute, BRICs hold off on trying to have another thing. So I actually like what President Trump is doing. [00:05:06][36.1]
Michael Tanner: [00:05:07] Shocker. You like what Trump’s doing. I do think it’s. It is. It is. I would have never guessed it might. Trump is a nightmare for the EU in the standpoint of I think what he does is he does what Elon Musk does and he’s got Elon Musk in his ear. They think from first principles. He was back in 2017 when he was talking about, hey, you guys, you are two a you’re addicted to Russian gas. That may cause a conflict at some point. What he was he was thinking from first principles. Hey, if you do see Russia as this threat, if you do see Russia as somebody who’s going to be aggressive, maybe think about getting your gas from alternative sources, sneaking from first principles. That’s what I think he’s going to do here. I think that’s what he’s doing specifically with going to be reversing a lot of the the green energy policies here. Specifically, I think there’s, you know, the LNG export ban, that alone is going to be a huge boon for the EU and it would play them and it would do them well to understand that, that if we at home can get LNG export facilities approved, all that gas is going overseas. Why? Because there’s a huge arbitrage of pricing. We’ve got enough natural gas here. We’ve got so much natural gas here. There are companies in the specifically the Delaware Basin, so we’re talking about the Permian Basin. But on the New Mexico side, who can’t produce their wells because there’s not enough capacity in the pipelines to put the natural gas and you can’t flare because it’s on federal land. So you have to shut the well in. We’ve got so much natural gas that it would behoove them to do it. Yeah. What I fear is going to happen is exactly what this article talks about, is there’s going to end up being a budding of heads because Europe’s got to show that they’re, you know, smart, they’re wiser. It’s like, guys understand what we’re trying to do here. [00:06:46][99.7]
Stuart Turley: [00:06:47] And it’s the Germany green energy policies. As Germany’s economy goes, so does the EU. Well, they’ve killed the great Germany manufacturing machine through their green policies. And now Chancellor Scholz is begging for Russian oil again. I mean. [00:07:04][17.8]
Michael Tanner: [00:07:05] I got to say it. He sees nothing. I see nothing. [00:07:07][2.7]
Stuart Turley: [00:07:09] I see nothing. We’ve got to do that on a mean man. That would be a great meme. I see no Russian gas. In fact. [00:07:15][6.2]
Michael Tanner: [00:07:15] We got to put that in a mug. [00:07:16][0.8]
Stuart Turley: [00:07:17] Germany is an economic model for what not to do. Do you all remember? Take a moment and think over the last ten years. Germany was always the poster child. They were the one that were out there just going gangbusters for renewable energy. They were leading the charge and their economy has totally been around the bar. There’s a word out there, I’m afraid I’m going to butcher it and I don’t want to do that. So. So take the sleeping bag and off the side. They’re from Germany and it is gone. VW is closing down. The BASF has closed down the steel mills. Many Germans like to see their country’s a global leader in the fight against climate change, despite Germany being responsible for only 1.5% man CO2 emissions worldwide. Advocates for climate action argue that Germany could serve as a role model for other nations. And I’m going to add in how to industrialize. Germany’s economy is critical to the EU. If the Germany deindustrialization and it has the EU will fail. So fiscal irresponsibility is at play in the states that are behind it and the other countries, the UK, we have New York, New Jersey and California. Those are the ones that are following this path. It is just absolutely the automotive industry wants a global leader around the world looked up with has become a basket case. That is a quote. I love that Germany’s the lead at the least world champion in climate protection. No, Germany holds respectable third place in the Environmental Performance Index. But that category of climate protection of all things only comes in seventh place. Great Britain is in fifth. So all the money that they have done in including closing all of their nuclear facilities, they’re now having to renegotiate how much they’re buying from France. And guess what France is doing? France is beefing up their 54 nuclear reactors, of which only 20, 50% of those were running because they let their maintenance go to waste. So now they are getting to fund the maintenance to bring their nuclear fleet back up on line. And they’re charging the Germans, you can’t buy this kind of entertainment. So the green energy policies of the Green New Deal are equal to fiscal irresponsibility. Forget long term, not noise. Oil prices are about the long term trend. I like this one. This one is a article from Leonard Hyman. And William Styles, and they’ve got a couple of really good points in here. The question is, what’s the direction of oil prices? Does it matter? You remember the comment by John Glenn Galbraith about economists making projections. He said that their only value is to make astrologers look good. However, I will answer. Oil prices will wobble around the trend line as they’ve been doing for the past half century. That’s called reversion to the mean. And it does matter, or at least it’s mattered for the last 50 years. And in this figure one, you can see that it is constantly going up to about the spot price of $70 WTI versus the spot price over time. And then you see a real price of oil used by price as it’s going across real time. I thought this was absolutely a very good article on this. Those investments have properly made for decades. We can say what’s best about the future with any certainty that the rate of population growth is falling faster than previously expected, and that a huge amount of money is poured into the development of electric and hybrid vehicles, which will eat into the oil industry’s biggest market transportation. Beyond that, whatever goes in the economic metric model is about highly paid guesswork. Well, guess what? The electric vehicles are not taking off and they are not eroding. We’ve kind of joked about it for a bit, and that is around here. The more money that is spent in renewable energy, the more fossil fuels will be used. Or you want to call it Turley’s law if you want or Turley’s rule, it’s happening. We’re going to see it again for this next year and for the foreseeable future. [00:12:02][285.3]
Stuart Turley: [00:12:03] Trump is expected to annihilate California’s green mandates, the most radical in the world. This story is from Ronald Stein. He is a friend of the show. And we’ve got in the show notes in the article on this a link to his sign up for energy literacy. For Ronald Stein, Ronald’s got several great books out. He’s been on the podcast a couple of times. And absolutely, I love my discussions with Ronald. He is, as I affectionately call, a national treasure. California Governor Gavin Newsom represents a population of 40 million. The state’s residents are a minuscule point 4% of the 8 billion people on this planet. But he has California acting like an independent country with environmental laws, regulations and mandates unmatched on this planet. Now, Governor Newsom is saying he’s going to trump proof California, which is absolutely stupid. Wind turbines for the generation of electricity under favorable winter conditions would be nonexistent if it weren’t for the government subsidies and mandates behind them. Today, we have towering engines of mass destruction marching across the countryside, killing birds and barns and laying waste, do farmlands and forced. Ronald is dead on right there to meet the goal. Listen to this. Ronald points out the goal of 85,000 gigawatt hours of power would require 2500 floating ten megawatt wind turbines 20 miles offshore, each 1000ft tall, anchored in water, 4000ft with high voltage undersea transmission lines connecting to each one of them on land based substations. If they were, it would be $300 billion. The California is already in debt up to their ear holes. And when you sit back and take a look at this in, not only are you going to need that amount of power, but you’re going to need standby power or what’s called baseline power. You’re not going to be able to even get this thing off the ground partially. Not only are you going to kill all wildlife out there, it is fiscally beyond irresponsible. A Facebook trailer illustrates for the New Land Man Drama, a television series created by Taylor Sheridan and Christian Wallace. Newsom is oblivious to the fact that every product in our society that did not exist 200 years ago is made from oil. So he’s got a war on our lifestyle and anything that is convenient. And yet he is above the law again, as opposed to Ronald Stein. This is a great article and also a hats off to grow. I love the picture that is there. You’ve got Trump closing the door on Newsom generated by Rock On. [00:15:08][185.4]
[00:15:10] D.R. Congo Sues Apple Over Blood Minerals. This is really disgusting when you sit back and take a look at the energy transition is failing and critical minerals. Michael, you you being a School of mines alumni, a two time alumni and a very smart cat. This is an amazing story. When you sit back and think, well, you’re not a cat. [00:15:34][23.8]
Michael Tanner: [00:15:34] I would say I’m a cat. Maybe not a smart cat, but I’ll we’ll let that one slide. [00:15:38][3.8]
Stuart Turley: [00:15:38] Okay. In a press release, the legal team claim that the tech company manufactures its gadgets with ten thallium tungsten collected from the DRC and laundered through international supply chains. No. Say it isn’t so. They they accused Apple of being deceptive in commercial practices. No way to. No way. Schumer’s supply chains are clean. They’re not. They’re dirty. They’re blood, blood, minerals. I love it. We recognize the situation in the region is challenging. We’ve increased our support to organizations that will do vital work in helping these communities, said Apple’s, according to Reuters. Here’s the thing. Do you know how much minerals are in the United States? [00:16:21][42.8]
Michael Tanner: [00:16:22] There’s a decent amount. Not that much, but there is a decent amount. [00:16:25][3.2]
Stuart Turley: [00:16:25] There is. And we could get what we could get here and not have to rely on a large chunk of blood diamond, but a mineral. If we had proper permitting, I would rather. Michael, let me ask you this question. The United States exploration and production produces the cleanest oil and gas on the planet. Is that a fair statement? [00:16:46][20.6]
Michael Tanner: [00:16:46] It’s 100% true. [00:16:47][0.8]
Stuart Turley: [00:16:47] And would the same apply to the same thing? We would not have children being abused in mines in U.S.. [00:16:54][6.5]
Michael Tanner: [00:16:55] Absolutely. But it comes back to the point it’s more expensive to mine minerals here. So a company like Apple says, Yo, I want the cheapest possible mineral, so I’m going to go find it to where I’m going to look the other way and say, I know they’re. [00:17:13][18.1]
Stuart Turley: [00:17:13] Going to do that Chancellor show. [00:17:14][1.1]
Michael Tanner: [00:17:14] But yeah, but it’s not my fault. And this is where this is a this is a much, a, much longer, you know, soapbox that I could go off. But this is there are very few cases to where capitalism and the incentives of capitalism break down. And this, you could argue, is one of those is one of those sets. It’s why always it’s one reason why outsourcing has become the move for all of these companies because in the United States, we have capitalism, but we have controlled capitalism. There are rules. There are things you can’t do. There are things you can do. There are child labor laws. There are securities laws. There are an immense amount of regulations that if you abide by those regulations and we can argue about whether or not big corporations have to abide by them, whether small ones, we can have that other argument. But by and large, it’s what I would call controlled capitalism. But you go over to the Congo, they no control. All it takes is a couple hundred thousand dollars, slipped underneath some minister’s door. And guess what? I see nothing nastier here. Companies take advantage of the unfettered capitalism and unfettered access. Outsource the problem to a third party so that when it comes around to them, say, Well, we were just buying our minerals from Congolese mine. Okay, well, who’s at fault? Congo. The Congolese mineral companies or the people that buy the minerals? It’s kind of like the drug dealer who’s who’s in charge. Who’s really at fault? The individual street drug dealer or the cartel? In this case, the cartels. [00:18:47][92.3]
Stuart Turley: [00:18:47] Apple Right. Or are you saying that we are for buying Apple phones now? [00:18:52][4.8]
Michael Tanner: [00:18:53] Now you’re back to an extremely, extremely touchy subject. You know, everybody else is but me. My my. Not my iPhone. [00:19:00][7.4]
Stuart Turley: [00:19:01] Not my iPhone. I want to buy I want to make sure that when Eli comes out with his phone, we’re moving our company to Elan phone and we’re moving over. [00:19:09][8.2]
Michael Tanner: [00:19:09] To X Mail when he rolls out. [00:19:10][1.4]
Stuart Turley: [00:19:11] Absolutely, baby. I’m all in on that. [00:19:11][0.0][1122.5]
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