October 19

Daily Energy Standup Episode #233 – Global Energy Challenges: From Wind Power Controversy to Gas Supply Concerns

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Highlights of the Podcast

00:00 – Intro
01:08 – Where does Israel get its 220,000 barrels of oil every day?
03:20 – Farmers rejecting wind power projects to avoid massive cleanup costs
06:07 – Much of the world’s gas comes from Hamas headquarters. This war could affect us all.
06:24 – Shell agrees to buy gas from Qatar for the Netherlands Pass 2050.
08:52 – Outro

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

Stuart Turley: [00:00:14] Hello, everybody, and welcome to Energy News Beat Daily Standup. My name’s Stu Turley, President, CEO of the Sandstone Group. And I’ll tell you what, it’s been a really busy week. Michael’s out on assignment, but I just got back from the Permian, the Permian International Permian Oil and Gas show. And I mean, it was a blast. I got to talk to some great folks, and I’m going to tell you a little bit about it here in just a sec. But today, please, like subscribe, follow us. Tell your family, tell your pets, tell everybody. And we just really appreciate everybody that’s going to energy newsbeat dot com. And we just are enjoying all of the great feedback and thank you so much for everybody’s support And I’ll tell you what it’s really nothing out there right now but I got a Nouriel show for you as well too. Where does Israel get its 220,000 barrels of oil every day? That’s a good question. But it also ties in to several other articles. Farmers are rejecting wind power projects to avoid massive cleanup costs. Got a lot of information on this one. Again, you can have a wind farm. What happens after it’s done? Is it like an orphan? Well, is it an orphan wind farm? Let’s go to the next one here. Much of the world’s gas comes from Hamas headquarters. This war could affect us all. That’s a pretty frightening story as it all ties in together with what’s going on right now. Shell agrees to buy gas from Qatar for Netherlands passed 2050. This is just indicative of what’s going on around the world right now. It is just crazy. So thanks again for everybody. If you have any questions or anything, it’s [email protected]. Michael and I will make sure we answer all of your questions. And if you are a industry thought leader, CEO, we want to talk to you. Let us know. And let’s get started here. I had the pleasure of talking to Cyrus Brooks today and he is from RBAC, He is in Africa right now and he is at a Africa energy conference. And man, it’s enlightening. I thoroughly enjoyed getting to visit with him about everything that he’s got going on over there. And quite honestly, Africa needs to be able to take advantage of their natural resources. Let’s end energy poverty, let’s get, he said. Today, one out of every two people in Africa are energy poor. They are not able to use energy or they don’t have access to full time electricity or they’re cooking on wood or they’re having health concerns like this is a crisis. [00:03:16][182.3]

[00:03:17] Anyway, this story, farmers rejecting wind power projects to avoid massive cleanup costs kind of also ties into that in Africa. This article is pretty amazing. There’s a lot of farmers out there rejecting offers to host wind turbines to avoid being left with a massive cleanup cost after these things grind to a halt. At first blush, being paid an annual license fee of 10 to 25000 per turbine sounds very, very good. I’ll tell you what, the 600,000 plus of demolishing and removing a single turbine all of a sudden goes, Holy smokes, that is a real problem. Who’s going to pay that? At the end of the 25 year contract? Most contracts are around that 25 year mark. It is already coming out on my way to Abilene. I’ve been saying all the time when I’m coming to the office here in Abilene, you see a wind farm and it’s got the smaller turbines on it and I guarantee you it’s been abandoned. It just sits there and all the blades are coming off of it and it’s sitting there and it’s no longer physically capable of sustaining itself. And the electrical companies are not able to go out and increase rates. So they just sit there. Who’s going to pay for those orphaned wind farms? This is despicable because it’s not even planned. Everybody thought, oh, wind farms are going to last 30 years. I’ve been talking about this on the podcast a long time. Without tax subsidies, they’re not fiscally responsible from day one. They are fiscally not even sustainable at about eight years with tax subsidies and. They’re starting to fail right around that point and then rates have to go up. And so they’re lucky if they make ten years. So with that, if anybody has any different information on that, please contact me. So when you take a look at the rest of this story, the Vestas Star Wind Farm project rejected by the landowners, and rightfully so. Now, when you take a look at what Cyrus and I talked about in Africa, they’re concerned that these wind farms are going to come in and it’s even worse than that. It’s because they’re getting loans from the World Financial Bank. The and they sit back and they really higher interest rates renewable only And then who is going to clean these things up? It’s not in the contract. So that’s a huge, huge problem. So anyway, let’s go to the next story. Much of the world’s gas comes from Hamas headquarters. This war could affect us all. The headquarters for Hamas is Qatar. And and so this is really a gigantic problem. [00:06:21][183.6]

[00:06:22] And the next story that we’re going to talk about. Shell agrees to buy gas from Qatar for the Netherlands Pass 2050. So long term contracts are really coming into play. Let me give you a couple of quotes out of this article. Qatar strong ties to both Hamas and Iran give rise to concerns as it could become entangled in the response by Israel and to the U.S. to the terror attacks Qatar’s tied to Iran were a factor in an agreement between the U.S. and Iran to pick Doha banks as repositories for the 6 billion funds released to Iran’s government by the Biden administration. Wow. So when you sit back and take a look at the $6.6 billion did become a flashpoint. Why did we release it? That one we’re going to just now really go into that here on this one. But when you sit back and take us, Secretary Anthony Blinken did not overtly confirm, but he did claim none of the funds have now gone to Qatar, have actually been spent or accessed in any way. Every single dime of that money is still sitting in the Qatari bank. Not a dime has been spent. Money is fungible. It doesn’t matter if you know that you got 6 billion over here, you can use other things. But as we talk, it’s not the that’s not the issue. On how Qatar and Hamas have been paying in Iran, have been paying for their Hamas and subsidies, and that is from Iran’s lack of sanction inputs. There was the war, the bombing of the hospital. Turns out that bombing of the hospital was actually a rocket from a mosque that hit the parking lot. So we’re in a information diffusion of war and propaganda, but this is huge. When you sit back and try to take a look at long term contracts for Shell, for the Netherlands. You take a look at Qatar in holding the money. You have all of that. And how does that playing into the rest of the world? It really plans into the United States needs all of the natural gas it can produce. So I’m hoping people are listening to that, but that is critical. [00:08:52][149.8]

[00:08:52] So stay tuned. Just I’m excited about getting to talk to some folks, more folks in the morning from Africa at their summit, and it’s really exciting because we need to take humanity first. That’s what it’s all about. Let’s elevate everybody out of poverty with that. Hey, thanks, everybody, and I appreciate your time. And have a great day. Hug your dog, hug your wife, hug your kids. Let’s have a great weekend. Thank you very much. [00:08:52][0.0][515.7]

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