California Cuts Tesla

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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

Stuat Turley: [00:00:10] Hello, everybody. Welcome to the Energy News Beat Daily Stand up. My name’s Stu Turley, a president and CEO of the Sandstone Group. Today is November 26th. Buckle up. It’s a wild ride out there. Tesla Excluded from Buyers Credits in California Proposal. Holy smokes. Governor Newsom is at it again. Auto industry EV binge unveils with layoffs and cost cuts. Just when you thought it was safe out there. Germany urged to return to nuclear as wind and solar fail and prices soar. And I’m going to add this one. And de-industrialization is rampant. Next story, how Saudi Arabia turned black back Climate progress at Cop 29. You know, just when you thought that it was about getting rid of oil, they kind of put some brakes on it. And then the BP CEO, who we all know that BP was really into renewable energy, quote unquote, renewable energy. BP CEO, global oil demand keeps exceeding expectations. I got a little bit about Turley’s law on that one. [00:01:24][73.3]

Stuat Turley: [00:01:24] So let’s buckle up and enjoy the ride here. I’ll tell you what. Just when you think Governor Newsom can’t get any scummy or Tesla excluded from EV buyer credit in California proposal, this is out of Bloomberg. Tesla’s electric vehicles would be excluded from consumer rebates proposed by gallon for years. A governor in a decision to spurring greater competition that is likely to draw the ire of Elon Musk. I agree. Governor Newsom, if you haven’t figured out there is going to be only one that was a great Highlander movie and Tesla is going to be the best electric car company out there and you’re trying to not have him in your mix. Governor Newsom Monday unveiled the plans to offer state incentives to EV buyers if U.S. president elect reveals the federal subsidy after he takes office. Newsom, a prominent Demcrat who fashioned himself a climate leader in a statement on the program, said Phased out California, phased out in 2023, would rebooted in order to provide car buyers relief in lieu of a 7500 tax credit targeted by Trump. So he is going to put a California incentive in except to exclude Teslas. Absolutely stupid. The move would be a cut in market leading Tesla out of the key incentive program. I’ll tell you what, Governor Newsom, please do us all a favor. Do not go take a bath in the bay. An oil spill would be called. [00:03:07][102.8]

Stuat Turley: [00:03:07] Now let’s go to the next story here. Auto industry ev binge unravels with layoffs and cost cuts. This one is just unbelievable. Automakers from Detroit to Japan and Germany are entering into lower cost and reduced expenses amid economic concerns. Billions of dollars wasted on self-driving cars and prolonged, if not uncertain, return on investment EVs amid slower than expected adoption. General Motors and Ford are cutting billions in fixed costs, including laying off thousands of workers. And other automakers, such as Nissan, Volkswagen and Chrysler are taking more drastic measures to reduce head gowns and trim spending. If anybody is not aware, Tesla will be the main survivor because of their auto drive capabilities and their leading technology for features that customers actually want, like call your car. So if you’re at a restaurant and you want to have your car meet you at the door, if it’s raining, that’s cool technology. That’s why I want one. I don’t want one. If the government tells me that I have to have one or I will buy one just to spite Governor Newsom. But you got to sit back and take a look. They are not efficient. I don’t know if whoever makes the hybrid the truck, a hybrid combination that can tow a boat and get a great gas mileage will be the winner. So buckle up on that one. [00:04:44][96.2]

Stuat Turley: [00:04:44] Germany urged to return to nuclear as wind and solar fail. You can’t buy this kind of entertainment when you go green. You absolutely and you go to renewable energies, which you’ve heard if you’ve been listening to this podcast, you know that renewable energy is not renewable. It is absolutely a waste. Islam, which was very much. Joined on a podcast is a true thing. The last four years we’ve been tracking the more money that is spent in renewable energy, the more fossil fuels will be used in in Germany. They had phased out their entire fleet of nuclear reactors over the last several years and hope to rely on renewable energy, claiming they were cheaper and cleaner. And that is not the case at the UN Climate Change conference in Moscow, Rafael Grossi, head of the International Atomic Agency. The IEA, had warned that Germany can no longer turn its back on nuclear power and needs a reorientation of energy policy is necessary. The government must reopen its debate on nuclear power. I mean, that is an absolute wonderful statement. They’ve got reactors that they have not dismantled yet that they could fire back up. The timing of this comment and say, ah, no, it is no coincidence Germany’s economic economy is suffering from energy problems while the government is consumed in internal disputes. I’ll tell you what, you can go green or go walk if you would, and be industrialized. If you want to be industrialized, then you’re going to be voted out of office. Green equals voted out. So let’s take a look at the more money that is spent on renewable energy. The more fossil fuels are going to be used. Let’s focus our energy on reducing the methane gases, if you would, in better natural gas plants. The only way that air is going to take off with unlimited power is with natural gas and nuclear. I hate to tell you this. We’re firing up a lot of coal plants around the world just to keep the lights on. [00:07:04][139.8]

Stuat Turley: [00:07:04] So let’s go to Saudi Arabia then. Tags right along into this one How Saudi Arabia turned Back Climate Progress at Cop 29. Saudi Arabia and its allies have two words they didn’t want to see separated at Cop 29 deal fossil fuels. The faction got their way after two weeks of bitter negotiations in Azerbaijan, revising gains made in earlier climate talks and helping knock this proceedings off track. The Gulf States surprised the world at Cop 28 when it joined nearly 200 nations in agreeing to transition transition away from fossil fuels. But it’s trying to walk that historic moment back. Ever since, the Arab group will not accept any texts that target specific sectors, including fossil fuels. You can’t do this. You’ve heard me also talk on this podcast. You have to applaud the Saudi government for taking a balanced all the above approach. They’re funding their government with fossil fuels, their funding, their green hydrogen projects and everything else from the profits of the fossil fuels. That makes sense. They’re they are not. And you’ve heard Michael on the podcast, I believe he said it yesterday, The U.S. delivers the cleanest molecules in energy in the planet. We absolutely have it down to a science. Why don’t we export that technology to Africa and really teach people and build the equipment here, teach them how to do that, and then let them run all their natural gas that they can using our clean air technology in our clean power plants. It seems like a really big win because all of a sudden then as in in work and we say is the African head of the energy chamber there, he said, let’s build it that way so that we have great trading partners and we eliminate energy poverty. So anyway, I thought it was pretty funny. One crucial tactic the Saudis deployed this year was starting from the debate over Cop 29. Agenda itself was to try to take the fossil fuel discussion off the table by arguing that talks in Baku were supposed to focus on a finance deal. Well, the finance deal has turned out to be just absolutely a wealth transfer is all that finance deal is. Let’s totally throw all that crap out on the side. Let’s get everybody the lowest cost kilowatt per hour with the least amount of impact on the environment. And that means running a coal, natural gas, nuclear and wind and solar when it makes sense. If they are fiscally responsible, let’s run them. If not, let’s run the others, but do it appropriately. So if you’re an energy expert and you want to come on this podcast, please, I would love to visit with you about your insights on this. We’ve got some great podcasts coming out around the. Here. [00:10:09][185.1]

Stuat Turley: [00:10:10] Last story for today. BP CEO. Global oil demand keeps exceeding expectations. You can’t buy this kind of entertainment. And as I was on the phone or the podcast this year, you sit back and take a look. The more money that is spent on renewable energy, the more fossil fuels will be used. Sorry. It is now almost a law. And when you sit back, global oil demand continues to surprise the upside. BP chief executive Murray Claus told the Energy Intelligence Forum in London Monday, saying oil demand kept rising on average by more or less 1% every year, with BP predicting robust oil consumption for the next 5 to 10 years. Hey, if we’ve got some great technology coming around the corner, I’m all in. I’m not married to fossil fuels. I am enjoying my investments into oil and gas and making 32%. I do like those. Now, if I could invest in Tesla and make 32%, I’d probably be just as happy there, too. So let’s talk about managing your investments and managing the entire process as opposed to just putting money into wind turbines or solar and then having a wealth transfer because it ain’t going to work. Hats off for him for saying stating the obvious. And we’re seeing that trend around the world that people are starting to wake up and saying, I want lower cost energy prices. [00:11:45][95.5]

Stuat Turley: [00:11:46] So with that, like subscribe, subscribe to the energy news beat Substack It is at the energy news Beat.substack.com. Go to energy news beat.co. Fill out the form on there if you want information on how I’m making 32% if you want to make 32% is let me I’ll let you know how we’re doing it. Hey, thanks and have an absolutely wonderful day. We will talk to you soon. [00:11:46][0.0][692.6]

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