Bill Ackman’s Election Insights

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Bill Ackman on Squawk Box has a fantastic interview and perspective on our election.

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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 Beat Daily. Stand up. My name’s Stu Turley President and CEO The Sandstone Group. It is a crazy day out on the news desk. Let’s start with our stories. Bill ackman on squawk box has a van tastic interview and perspective on our election. Billionaire investor bill ackman live on the countdown to 2024 presidential election. It’s pretty van tastic article. We have Korybko to Isaac Toro on the BRICs members. Political differences won’t impede Financial co-op. BRICs is something that you got to pay attention to and I hats off to Andrew agreeable co his Substack Aramco CEOs Global South will drive oil demand for decades. And finally, Goldman Sachs sees limited upside for oil prices in 2025. I’ll tell you what, this is just a barrel of fun around here. You can’t buy this kind of entertainment. [00:01:12][61.6]

Stuart Turley: [00:01:13] First off, I got to hand it to Bill ackman who is a billionaire stepping out on Squawk Box. I do think MSNBC has one of the best shows on squawk box for news. I’m not a particular fan of one of the individuals there who, if you watch the entire video I put in their ex post in the article and you’ll be able to watch and you’ll figure out who I’m talking about there. But let’s go through Bill’s point. Bill has been in the history giving mostly to Democrats, but he said he can’t really back Kamala Harris. And it’s because the 32 different things that the Biden-Harris administration has done and these are 33 gigantic reasons not to vote for Kamala Harris. Let me read you this line. While 33 actions I described below for the Democratic Party and the Biden-Harris administration. They are also the actions and policies. And unfortunately, our most aggressive adversaries would likely implement had they wanted to destroy America from within and had the ability to take control of our leadership. These are the 33. I’m not going to go through all 33, but I am going to go through a few of them here. This is very important. And again, my hat’s off to him, Bill. I know he probably lost a few friends and maybe even a family member over coming out like this. But a year or more than welcome to Stop on the Energy News Beat podcast, I’d love to visit with you. And again, congratulations. I really loved your article. You had pinned it to your X, your contact information or your ex post will be in the show notes. So let’s start with number one. Open the border to millions of immigrants who are not screened for their risk to the country, dumping them into communities where the new immigrants overwhelmingly existing communities and the infrastructure to support the new entrants at the expense of historic residents. I’ll tell you what, it’s not that I’m against immigration. I am all for legal immigration. And I believe that’s what exactly what he was saying as well to the withdraw from Afghanistan. We know how horrible that was introduced economic policies and massively increased spending without regard to their impact on inflation. And I’ll tell you what, I think the real eye opener here is if Manchin had not stumbled, halt stalled or halted some of this stuff, we could have seen even higher inflation on this introduced thousands and new unnecessary regulation in light of the existing regulatory regime that interfere with our businesses ability to compete. We have it has cost the U.S. consumers trillions. And we’ve talked about this before. Promote the ideologies limit or attempt to ban fracking and LNG so that US energy increased substantially and the US is losing energy independence. What this also has done is they’ve also weaponized the U.S. dollar through sanctions. And he goes on and talks about that. I believe in one of these down here as well. And when you talk about take no serious actions, when 45 American citizens are killed by terrorists and 12 taken hostages, I’ll tell you what, if President Trump was in, we would have had those hostages back already. I don’t think we would have been waiting around for a year. Why do the American people about the cognitive health of the president and accused those who provide video evidence of his decline? Cheering. Videos and being a right wing conspirator, he nails it. I mean, Kamala had to have hit that select the Democratic nominee for president and a backroom process by undisclosed party leaders not allowing Americans to choose between candidates in an open primary. Holy smokes. Litigated to make it illegal for states to require a proof of citizen citizenship and voter I.D. and resistance and reside in order to vote. At a time when Americans have lost confidence in the accuracy and trustworthy inverse voting system. Holy smokes, Bill Ackman. My hat is off to you and I would love to have you on the podcast and talk to you about your views and your impact. I’m hoping that you didn’t lose too many friends. And again, thank you very much. [00:06:01][288.2]

Stuart Turley: [00:06:01] Let’s go to Andrew Korybko. BRICs Members Political differences won’t Impede the Financial Coa. This is one of the biggest stories that’s really not being talked about in the mainstream right now. We have BRICs, which is the alliance of Brazil, South Africa, India, Russia and China. And when you sit back and take a look, they have all of the countries that are meeting in Russia right now. President Z has called for the end to the Russian war with Ukraine. And I believe that will happen Now. That will also happen in time so that the EU can start buying Russian natural gas again or keep buying Russian natural gas through the Ukraine pipelines. This is a big deal. Either you buy Russian gas or you’d industrialize the industrialize ice. So when you take the deindustrialization of the EU and Germany and you put in green energy policies, you’ve got to get that low cost Russian, German, low cost natural gas back into Germany and back into the EU, or you will finish the industrialization. So Andrew brings out some great points. Even though Putin previously hinted at the political role that BRICs can play amidst the global systemic transition, this can be interpreted as hindsight. Just an observation about the impact of its members coordinated policies to accelerate financial multipolarity process and not a part of the master plan. And what they’re trying to do is Putin made a very clear statement. The United States made a gigantic mistake by weaponization of the U.S. dollar and sanctions. Like the Biden-Harris administration has done. What else are they supposed to do? Well, BRICs has been around for quite a while now. It’s accelerated and we are going to pay the price. So hats off to Andrew on that. [00:08:04][123.1]

Stuart Turley: [00:08:05] Let’s go to Aramco. Aramco CEO Global sales will drive oil demand for decades. Amir Nasser is optimistic about China’s oil demand, particularly in the chemical and aviation fuel sectors. Nasser believes that the global energy transition is happening slower than anticipated and that oil demand will remain strong for decades, delivered by the driven by the Global South. The Global South is really the in the Asian markets in the growing area there. The South Korea is in in that area, we see demand for jet fuel and naphtha, especially for liquid to chemical projects next year said I’m on the sidelines, adding a lot of it’s happening in China, mainly because of the growth in chemical needs, especially for the transition for the electrical vehicles, for the solar panels. They need more chemicals and that’s huge growth there. You can’t make the solar panels out of a windmill. You can’t make an iPhone out of a windmill or solar panel. You need oil and gas. China is a great market and we’re investing with our partners, he said. The United States has made let me go on record. The United States has made severe geopolitical mistakes, and I hope that we all take note. [00:09:24][78.9]

Stuart Turley: [00:09:24] Goldman Sachs Sees Limited Upside for Oil Prices in 2025. I got mixed emotions about this article. Goldman Sachs predicts an average price of $76 per barrel in 2025 due to sufficient global spare capacity. The forecast sees limited upside potential due to high spare capacity. Now, overall, quote, we see the medium risk around our 70 to 85 barrel range is two sided, but skewed moderately to the downside. Here’s where I am. I’m going to hedge the bet just a little bit on this. There is still a lot of demand. If President Trump is put in and we do not have any democratic and for. Parties or destructive behavior going on and we have a smooth transition of power. I think you’re going to see the economy start to increase again in the United States. The UK is really going to slow down if the war in Ukraine can stop and Germany and the rest of the EU can get low cost Russian natural gas, they can start their emergence. Coming in a little bit sooner. So if that happens, you’ll see oil prices rise around the world. And if you get the sanctions under control and you get trading going on under a Trump administration, you will see prices stabilizing in that. I think they’re in the right range in there. And I think that it does go to the higher side, in my opinion. [00:11:03][99.2]

Stuart Turley: [00:11:04] But with that, like subscribe share and if you have any questions, we’d love to see you. And if you are a energy expert, I’d love to visit with you on the Energy News Beat Podcast. If you have investment advice on where you think the markets are going to go, do you think that BRICs is actually going to dethrone the US dollar? I don’t think it’s going to do total a dethrone, but we are seeing an erosion of the US dollar at a very significant rate. So with that hope, we have a fantastic day. Thank you all. So. [00:11:04][0.0][651.0]

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