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Daily Standup Top Stories
Oil, Natural Gas, and Coal Dominate U.S. Rail Freight
U.S. rail freight transported nearly 1.8 million metric tons of materials in 2023, with energy products, including coal, oil, and natural gas, being the most common. Rail stands out for its safety record and sustainability, […]
UK has world’s highest industrial electricity costs
The UK has the highest electricity prices globally at 25.46 pence per kWh in 2023, significantly exceeding the rates in various European countries. New government data shows that Germany charges 15.64 pence per kWh, while […]
Salt water is making electric cars blow up after Hurricane Helene
Electric vehicles that have been flooded with salt water are being treated as a potential fire hazard in the wake of Hurricane Helene. Officials are urging those who evacuated and left electric vehicles or golf carts […]
Russia Expects Oil Price Volatility to Subside
Russia’s Novak believes oil prices have already incorporated the geopolitical premium from Middle East tensions. Oil prices had spiked early on Monday morning after a weekend of significant escalation of conflict in the Middle East. […]
China Oil Demand Concerns Aren’t Going Away
China’s economic woes and property crisis have been weighing on global oil demand consumption and growth expectations this year. Despite some renewed optimism in the wake of the Fed’s jumbo cut, concerns about China aren’t […]
Highlights of the Podcast
00:00 – Intro
01:10 – Oil, Natural Gas, and Coal Dominate U.S. Rail Freight
02:44 – UK has world’s highest industrial electricity costs
04:06 – Salt water is making electric cars blow up after Hurricane Helene
05:32 – Russia Expects Oil Price Volatility to Subside
06:09 – China Oil Demand Concerns Aren’t Going Away
08:01 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:10] Hello, everybody. Welcome to the Energy News Meet daily. Stand up. My name’s Stu Turley, president CEO of Sandstone Group. Today is October 1st. And are you ready for the October surprise? I hope everybody is staying safe out there. We’ve got an action packed show for you today. Michael’s out running around with clients today. Let’s say oil, natural gas, coal dominates U.S. rail freight. Pretty interesting with the timely but almost assured offshore strike. UK has highest industrial electrical costs. Next up, so water is making electric cars blow up after Hurricane Irene. This is a tragic story all across the United States and it is very, very sad. Russia expects oil price volatility to subside. China oil demand concerns aren’t going away. So with that, let’s go ahead and get rolling over here to this first story. [00:01:09][59.3]
Stuart Turley: [00:01:10] The first story is oil and natural gas, coal dominated U.S. rail freight mist. Producer if you could bring up the Greenbrier companies. Ranked was most moved by rail in 2023 708 metric tons moved of coal and natural gas second and followed by that is natural gas, I mean agricultural project projects and then after that is construction materials. Unbelievable how much energy is absolutely moved by our rail systems. Unbelievable. And why it matters. Rail is critical in supporting all the industries. And this I do not know how this potential strike is going to happen. How this is going to be impacted. Is coal going to be coming in on ship? Is what is going to happen during this whole potential strike for the next ten days. And I am going to put money on it, that it does happen for financial reasons. So anyway, we’ll see how that goes. Rail contributes 1.8% of U.S. transport of greenhouse gases, moving over 40% of all long distance freight rail can do this as highly as fuel fuel efficient. But I’ll tell you what would be even better is if we could use pipelines and get rid of the natural gas going on. Absolutely. On the rail cars instead of LNG. So anyway, just a food for thought there. [00:02:44][94.3]
Stuart Turley: [00:02:44] Let’s go to the UK. UK has world highest industrial electrical costs. You know what? This is really, really sad. And as you get ready to go vote, understand that Germany went out and we’re showing everybody the Green New Deal way to do things. They have fallen on their face in the Green New Deal equals de-industrialisation. They are having some real problems. Governor Newsom has then gone, yeah, I want to do this. He’s now having some Californians all moving to Texas. I wish you’d leave your voter thing there. But Spain offers electricity at 13.31 cents per kilowatt hour. Finland is 6.7 $0.05 per kilowatt, and Sweden charges 7.6%. The new government data shows that Germany charges 15.64% kilowatt, but the UK is rolling in at 25.46kW per hour in 2023. Bad energy policies equals deindustrialization. Vote for Green New Deal. You get a wealth transfer in a poor country. So hats off to them for, you know, really not understanding energy. [00:04:05][80.8]
Stuart Turley: [00:04:06] Let’s go to the next story here. Salt water is making electric cars blow up after Hurricane Helene. At first, our prayers are going out to all the families affected, all through the the South, the United States, through This is is a sad, sad story. And it’s even more sad. The response by the Harris Biden administration is abysmal. And missing in action. Florida, Georgia, North Carolina, South Carolina, Alabama and Virginia have all declared emergencies. Nearly 100 people are believed to have died and millions affected. I think that number may be going up from there. North Carolina was the state most affected by the storm or 25 people were killed. Highest death toll in the state since Hurricane Hugo in 1989. But when you take a look at water and those batteries in heavy use, those are a fire hazard waiting to happen. So be be very careful. Our prayers go out. And I have. Tip to President Trump for going out, bringing supplies and his boots on the ground, checking things out. I believe his comment today when he was with Franklin Graham was pretty funny. And he said, I believe, Sir, have you talked to Biden about his response? And Trump’s response was, I believe he’s asleep. So be careful who you vote for. [00:05:31][85.6]
Stuart Turley: [00:05:32] Russia expects oil price volatility to subside. Russia’s Novak believes that oil prices have already incorporated the geopolitical premium for Middle East tensions. So I don’t know if I agree with Novak on this. Oil prices have already factored in the geopolitical Middle East tensions and a recent price volatility set to ease in coming weeks. I’m just not sure I agree with that. There is so much going on in the Middle East that I don’t even know what to do other than make sure that you’ve got food supplies and our stock. [00:06:09][36.8]
Stuart Turley: [00:06:09] China oil demand is concerned concerns are not going away. China’s economic woes and prosperity crisis have been weighing on global oil demand, consumption and growth expectations this year. Despite some renewed optimism in the wake of the Fed’s jumbo cut, concerns about China aren’t going away. OPEC trimmed up its oil demand growth for 2024, citing concerns in China. Here’s where I’m seeing this. And from the numbers that I’m following. China is still buying everything that they possibly can. China’s fuel consumption has disappointed so far, but they’re buying and putting into storage all the LNG that they can possibly can. And all of the oil that they can. Countries that are going to war fill their tank. I think that people are reading into this too much if they think that it’s because of a slow economy. China is going to be filling everything that they possibly can. I’ll go on record on that. Here’s a quote out of the article. Chinese oil demand is currently firmly in contradiction, falling by 1.7 or 280,000 barrels per year on year. On a marked contrast with a 9.6 average growth in 2023. Accordingly, we expect annual growth of 1.1. Gasoline is expected to peak this year or next year. Not only because nobody’s moving, but simply because the fleet is slowly changing toward electric vehicles. And part of this is because China has got half the cost associated with a battery that the West does. It’s because they own the supply chain on that. So they might have a lower demand because of EVs, but they’re still going to be buying everything that they can for the near term anyway. [00:08:00][110.6]
Stuart Turley: [00:08:01] With that, I hope that you share like subscribe, please go to our the energy news be.substack.com for our substack. Please check out all of our podcasts and also if you’re a looking to invest in the oil and gas based, we have partnered with R.A. Trevino in his and it’s a personal investment. I think it is phenomenal. Reach out and we can hook you up and get you in touch with them. And just to see say, hey, wait a minute, I’m curious about where do I put my money in this crazy world where you do want to return? So with that, like subscribe share, and I’ll see you guys tomorrow. [00:08:01][0.0][467.4]
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