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Daily Standup Top Stories
Moscow calls for joint Russia-US projects in the Arctic
The head of the Russian sovereign wealth fund has called for revival of economic cooperation between Moscow and Washington Russia and the US should work on all areas of economic cooperation, including projects in the […]
Trump’s No-Prisoners Approach to Iran-China Oil Crackdown
The Trump administration is intensifying its crackdown on Iranian oil shipments to China. Unlike his first term, Trump’s second presidency is actively using economic and geopolitical pressure. The Trump administration is targeting tankers, brokers, financiers, […]
Will OPEC Sit Back as Non-OPEC Oil Gains Ground?
The U.S. Energy Information Administration forecasts non-OPEC crude oil production to increase by 1.8 million barrels per day this year. OPEC+ has maintained output cuts for three years, reducing its global market share from 53% […]
Musk’s DOGE claims multi-trillion gap in US government spending
Some $4.7 trillion in federal payments remained untraceable, as the Treasury did not enforce a tracking code Elon Musk’s Department of Government Efficiency (DOGE) claims has uncovered a massive gap of nearly $5 trillion in […]
Biofuels: The Green Energy Hoax Driving Environmental Damage And Rising Food Costs
Biofuels, despite claims of sustainability, cause food inflation, environmental harm, and energy inefficiency, raising concerns over their true impact. There’s nothing new about biofuels, or fuels derived from plants such as trees and corn. They’ve […]
Highlights of the Podcast
00:00 – Intro
01:16 – Are President Trump’s Tariffs A Good Thing? And how does LNG play into his plan?
Moscow calls for joint Russia-US projects in the Arctic
07:03 – Trump’s No-Prisoners Approach to Iran-China Oil Crackdown
09:47 – Will OPEC Sit Back as Non-OPEC Oil Gains Ground?
11:17 – Musk’s DOGE claims multi-trillion gap in US government spending
11:59 – EU targets cheap Chinese biodiesel imports with anti-dumping duties
13:04 – Outro
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– Get in Contact With The Show –
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 of the Sandstone Group. This is just a crazy time we’re living in. Let’s go through. Today is February 19th, and let’s go through the main stories. Are President Trump’s tariffs a good thing? And how does LNG play into his plan? Moscow calls for joint Russia -U .S. project in the Arctic. That’s pretty darn cool. There’s a lot going on around Russia and Saudi Arabia and Ukraine. Trump’s no -prisoner approach to Iran -China crackdown. Will OPEC sit back as non -OPEC oil gains ground? I’m not sure what to think there. Let’s go to the next story. Musk’s Doge claims multi -trillion dollar gap in government spending. I’ll tell you what, if you don’t hate your government enough now, wait 15 minutes. You’ll find out some more stuff. EU targets cheap Chinese biodiesel imports with anti -dumping duties. Yeah, don’t say that one real quick,. [00:01:15][65.5]
Stuart Turley: [00:01:16] But let’s go to the first story here. This one is only on the Energy News Beat substack. It is theenergynewsbeat .substack .com. Are President Trump’s tariffs a good thing? And how does LNG play into his plan pan? There’s a couple things that are going on. A, the mainstream media is just saying tariffs are bad and it’s going to raise our prices. That’s not necessarily true. Let’s go through some of this stuff. A, the United States has got our goods and services being tariffed by the EU and other countries around the world. Let’s go through some of these trade deficits and who tariffs us. And then I’m going to bump into why is that important? First up around the corner is for 2024, the US goods and service trade deficit was $917 billion up $133 .5 billion, 17 % up from 2023’s $784 billion. Some of the countries are like Canada, $45 billion deficit. Mexico, $180 billion deficit. China, $350 deficit. Japan, $70 billion. Germany, $90 billion. None of these countries are helping the US workers. France got a $20 billion. Malaysia, $40 billion. Switzerland, $15 billion. Now here’s a surplus. The Netherlands has a $75 billion exports, $100 billion, but they import $25 billion. That’s in fuels and other things. Now what does the EU tariff? Here’s an example. The EU has a standard tariff on 10 % on vehicle imports. This applies to passenger cars entering the 27 member block of the US. And it’s, while in contrast, US only tariffs 2 .5 % on EU cars. You don’t see any Ford Mustangs running around the EU. So I love what President Trump’s got going on here, but there’s a little bit more to it than that. Pharmaceuticals and medical, a 7 % to 8 % machinery and electronics, 2 % to 4 % textile and apparel, 11 % to 12%. So this is, I think President Trump is onto this. And when you look at the EU slap tariffs of $3 billion of US products, including motorcycles. All right. I think Harley -Davidson needs to be cranking some out for some of them left nut people. Nevermind. We’ll leave that one alone. How can President Trump offset the deficits with LNG? Enter Japan. And he had a great meeting with the leader of Japan over saying, Hey, I want me some of that US LNG. But now let’s take a look at how much does the US actually export, how much can it export and how expensive is it going to be to grow that market? Currently as of 2023, 11 .9 billion cubic feet per day of LNG was available exported. The US can ballpark export at 100 % capacity, about 18 billion cubic feet per day. So we’ve got a little bit of runway, but on that max capacity, that’s like a nameplate on that chart. You got to have downtime for problems and everything else. You cannot count on that. So how much does it cost to actually build a plant? When you take some specifics, Cheniere Energy Sabane Pass LNG Tournament had its initial trains of 4 .5 MTPA cost about 7 to 8 billion per phase in mid 2010s. Venture Global Calais U Pass completed in 2022 came in about 4 .5 to 5 billion for 10 MTPA. I’ll tell you what, this means a lot that we’re going to some really good investment from foreign countries into our LNG and President Trump is not afraid to ask for it. So when you take a look at it, I believe in President Trump. I like what I’m seeing here. And I think that this is actually going to be phenomenal for the US country. I think it’s going to be the easiest thing for President Trump to lower the deficits using LNG, because you’re going to have some higher hurdles when it’s just straight products being exported out to other countries. You can pay a little bit more for LNG and guarantee security. But President Trump, if you listen to this podcast, which probably don’t, but if you did, you need to make sure that you set your sights on the Jones Act and get rid of it and build up our shipbuilding capabilities. Because without our own US flagged LNG carriers, we cannot do cradle to grave guarantees for our great allies. And Steve Reese was on the podcast and I absolutely love Steve Reese, one of the great energy leaders in the United States, who happens to also be a sponsor of the show. But he is very adamant and he has got one of the few secure lines for LNG coming from the United States to Germany and long term contracts. So Reese Consulting, a shout out to Reese Consulting for being a sponsor of the show and also actually knowing what you’re doing. [00:07:03][347.0]
Stuart Turley: [00:07:03] Let’s go to the next story here. Moscow calls for joint Russia US projects in the Arctic. This is actually kind of cool because as we sit back and today, we see that Russia, Lavrov and our team Rubio are in Saudi Arabia. And this is actually an epic time because the adults are at the dinner table and the children are in the EU and not invited to the table and neither is Zelensky. So the adults are making the decision and Russia and the US could work on all areas of economic cooperation, including projects in the Arctic region. CEO of the Russian Direct Investment Fund said, this is exciting to me from a standpoint that we do not need war in the world. And I also like the fact that if we get the US -Russian relations taken care of, you have to understand that General Kellogg did not have all the information that he needed in order to get where we are now. And I’m very, very proud that we are at the fact that they are now having conversations and things are moving forward. And if we eliminate these sanctions on Russia, which I hope we do, you will see oil prices, I believe, fall around the world to somewhat. I think we’re going to be in that $70 to $80 range because that seems to be the sweet spot for Saudi Arabia. And you’re not going to see a oil price war kicking in. And I think that that is actually a price that everybody can live with in the $70 to $80 range and maybe even $85 range. So I think all these things are doing absolutely wonderful. [00:08:52][108.9]
Stuart Turley: [00:08:53] Trump’s no -prisoner approach to Iran -China oil crackdown. This is the next story here. The Trump administration is intensifying its crackdown on Iranian oil shipments to China. This is huge because I think Iran is one of the biggest troublemakers in the entire world and shutting them down will help save Israel and the rest of the world when you sit back and say, let’s cut them out so they’re not funding terrorists around the world. Specifically, the United States in recent days has been targeting tankers and ports that have been instrumental in enabling the continued flow of Iranian oil around the world. And when you sit back and take a look, the United States under the Biden administration was funding both sides of the war in Hamas and also both sides of every other Ukraine war and everything else. And it just makes me tired. [00:09:46][52.8]
Stuart Turley: [00:09:47] Let’s go to the next story here. Will OPEC sit back as non -OPEC oil gains ground? The US IEA, EIA administration forecast non -OPEC crude oil production to increase by 1 .8 million barrels per day this year. OPEC plus has maintained output cuts for three years, reducing global market share from 53 % to 47 % in global current inventories are shrinking with OPEC stocks falling below the five -year average. What we’re seeing also is that there has been a long -term downplay in investment in exploration and production. And so that you’re going to see oil prices may dip for just a little bit if Russian sanctions are reduced, in my opinion. But you will see them continually around that, like I said, around that area, the $80 range, because it makes good business sense. You used to be able to make money at $20 oil. In fact, my dad was a pilot for Schumacher, and he would not do an oil deal unless he could do it for less than $7. He knew that he could get $7 profitable oil. It tells you how long ago that was, but that’s not that way anymore. So you’ve got higher costs because of a supply chain and all of those kinds of other issues. So I think that we are not going to be seeing the $40 oil again. [00:11:17][89.9]
Stuart Turley: [00:11:17] But let’s go to the next article here. Musk’s Doge claims multi -trillion dollar gap in U .S. government spending. Some $4 .7 trillion in federal payments remained untraceable as the Treasury did not enforce a tracking code. This is absolutely treasonous. This is absolutely treasonous and there is a penalty for treason. And I sure hope that we make Gitmo great again and let’s go after these treasonous Democrats and rhinos that are in power that allowed this to continue on. This was intentional. [00:11:58][40.6]
Stuart Turley: [00:11:59] Let’s go to the next story before I lose a blood vein. EU targets cheap Chinese biodiesel imports with anti -dumping duties. The European Commission has imposed anti -dumping duties with biodiesel on imports on China to help protect the industry. Anti -dumping investigation revealed that dump biodiesel imports were harming the EU biodiesel sector, which faced unfair competition and impossible plant closures. It ate more power to them. They got to protect their own markets and I hope that they do. There is a lot to be said for biodiesel if it is done correctly. I’m all in and trash to energy that kind of biodiesel if it is done correctly. But when you start using ethanol like in the United States and it costs more energy and more and waste food, I think that it needs to be just totally eliminated. So we’ll just go on to that on another day. [00:13:03][64.3]
Stuart Turley: [00:13:04] So with that, like, subscribe, go out to Reese Consulting. We have ads all over energynewsbeat .co and check them out. If you’re in the United States natural gas, if you want to buy crude, if you want to buy or sell a crude oil, give them a call. Tell them Stu sent you and let’s have a great day. Thanks. [00:13:04][0.0][769.2]
The post Trump’s Tariff Gamble appeared first on Energy News Beat.
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