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Daily Standup Top Stories
It’s time to follow the Navy’s 50-year safety record of nuclear power generation
Delivery of affordable, abundant, reliable, clean, and emissions-free electricity to customers is very important to modern quality of life. Achieving this is threatened by a vulnerable grid and the intermittency of wind and solar electricity […]
Chevron CEO Attacks Biden LNG Export Pause on Costs, Carbon
Energy Department enacted gas terminal moratorium in January Shale boom transformed US into world’s biggest LNG exporter The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas […]
OPEC Claims Taxation Is a Severely Underrated Driver of Gasoline Prices
OPEC argues that taxes on gasoline are a more significant factor in pump prices than the cost of crude oil. The organization claims developed nations earn more from gas taxes than OPEC does from oil […]
French Grid Boss Says Renewables Must Help Balance Power Network
Surplus output during peak hours is turning prices negative That’s straining other generators key to balancing supply France’s power-grid boss said wind and solar farms will have to fully participate in balancing the electricity network […]
Report Raises Alarm Over Chinese Electric Vehicle Data Collection
A new report warns that Chinese electric vehicle manufacturers could pose a national security risk to the UK due to data privacy concerns and potential ties to China’s military-industrial complex. The report claims that Chinese-made […]
Highlights of the Podcast
00:00 – Intro
01:16 – It’s time to follow the Navy’s 50-year safety record of nuclear power generation
04:04 – Chevron CEO Attacks Biden LNG Export Pause on Costs, Carbon
06:13 – OPEC Claims Taxation Is a Severely Underrated Driver of Gasoline Prices
07:37 – French Grid Boss Says Renewables Must Help Balance Power Network
09:20 – Report Raises Alarm Over Chinese Electric Vehicle Data Collection
11:09 – 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 Beat podcast. My name is Stu Turley president and CEO of the Sandstone Group. Today is 18th and I’ve got an action packed show for you. Michael’s out on assignment. Let’s go to the first story. It is. It’s time to follow the Navy’s 50 year safety record of nuclear power generation. Coming around the corner, Chevron CEO attacks Biden LNG export pause on costs and carbon. I’ll tell you what, you’ve got to pay attention to this one because this does impact Kamala’s. It is her administration. OPEC claims taxation is severely underrated. Driver of gasoline prices. He had a lot of it. French boss says renewables must Help Balance Power Network. I got to learn to speak French and understand this article. Report Rises Alarm over Chinese Electric Data Collection. Holy smokes, Batman. Do you think I’m going to get into a Chinese electric car? I don’t think so. [00:01:16][66.0]
Stuart Turley: [00:01:16] Let’s start out with it’s time to follow the Navy’s 50 year record of power generation. This is an outstanding article by Ronald Stein. He is a friend of the show. He is an author. And I have had the pleasure of talking to Ronald several times on the podcast and on other podcasts as well, too. Let’s go through the numbers. Today, about 440 nuclear reactors are in operation around 32 countries and Taiwan, with 62 reactors under construction as of August 1st, 2023. The United States has 54 nuclear plants, with 93 Operation Kirn nuclear reactors and 28 states. These plants operate and generate 20% of our electricity in the United States. That is impressive. 93 commercial nuclear reactors in 28 states for 20%. That’s a big number. As of May 2024, there are 214 nuclear permanently shut down nuclear reactors around the world. The United States recorded the largest number of shutdown with 41 units. Holy smokes. Another seven reactor retirements have been announced through 2025 with total generating capacity of B. These being shut down is 7109MW, equal to 7% of the net nuclear fleet. Holy smokes. Consistent and reliable power delivery is a national security issue and a quality of life issue. People and economics have grown to depend on electricity so much they can no longer have alternative methods to place and replace heat, light, food preservation, air conditioning in the event of a power outage. So economic electricity must be delivered to people 100% of the time or serious disruptions in their lives and economy will be apparent, including a loss of life. This is not recycling. Slightly used nuclear fuel and fast breeder reactors will solve these problems. And I love it. I think that we need to look at these kind of solutions. This is an outstanding article. And for the Electrician, there’s a one hour video with Chris Powers and Robert Bryce Power hungry as they discuss energy powered nuclear and fossil fuels. Outstanding job. Well done. And this is great. The links are in the show notes. [00:04:04][167.4]
Stuart Turley: [00:04:04] So let’s roll the next story here. Chevron’s CEO attacks Biden’s LNG export paths, costs and carbon. This is really important. The Energy Department enacted a gas terminal moratorium in January, the shale boom. And, you know, we all know that the it turned the U.S. into the world’s largest LNG exporter. Chevron Corp CEO Mike Waters called on the administration to reverse the pause, labeling the policy as failure of elevated politics over progress. Permitting, which went into effect earlier this year, will raise energy costs, threaten supplies for America’s European allies and increase emissions by slowing the transition from coal to gas. We have to remember that we were energy independent under President Trump. We actually reduced our output and our methane by 7% by reducing the coal plants and going into. True gas under President Trump. That was incredibly huge. This is a great article. We hope cooler heads do prevail and maybe she’s sincere on her support for fracking, said Jack Fusco, chief executive officer of Cheniere and LNG. I have to trust until until then, I don’t. I’m with him. She has been banning fracking her entire career. Why is within a month of a election and she’s going to say that she’s going to become a a an oil fan? I doubt it. So this is absolutely proof positive that the long affair that she has incorporated, a judge ruled against this and then they have filed an appeal on that. So they are still in the process of manning it. This is not a good thing. This is a good example of be careful what you vote for. [00:06:13][128.5]
Stuart Turley: [00:06:13] Let’s roll over to OPEC. OPEC claims taxation is severely underrated. Driver of gasoline prices. I don’t agree with OPEC a lot. This one I might, especially when you look at California. California has got the highest gasoline prices in the United States, and it’s because of taxation. OPEC argues that the taxes on gasoline are more significant factor in pump prices rather than the cost of the crude oil. That’s almost a fair statement. OPEC suggests governments explore alternative tax sources if they plan to phase out oil while maintaining current revenues. This is a brilliant statement, especially from the standpoint that you have to wonder what is going to take place on the road tax that states have gotten used to by taxing the gasoline. And all of a sudden the electric cars don’t have it, but the electric cars weigh four times as much as a normal car. They got more wear and tear on the car, but you’re not getting the tax revenue. So get ready. Here’s a quote. Again, as says, the narrative we often hear is that every increase in price raises fuel costs, bringing increasing revenue for oil producers to the detriment of consumers. Well, taxes hurt the consumers. I do agree with him on this one. Okay. [00:07:36][82.7]
Stuart Turley: [00:07:37] Let’s go to the front in the next one here. French grid boss says renewables must help balance the power network. I’ve always said that physics matter to the grid. The grid requires that it is fiscally responsible and it does not discriminate against physics. The laws of physics matter. So a surplus and output during peak hours is turning prices negative. That means when they have all their solar panels going on, they have their nuclear, they have their coal and they have their natural gas. All of a sudden, renewables have become a major player in their electrical, said Xavier Chesky, chief executive officer of Réseau de Transport de Electric, said in a conference tomorrow. They must have the same rights and duties to keep as others to keep growing rapidly. How do you have duties with a solar panel unless you can have storage associated with it? Renewable power producers must also participate in much more maintaining the grid’s voltage and frequency to optimize the cost of clean energy. Growth producers will also have to accept systems that allow the grid operator operators to automatically curtail output, which means you’re also not going to get paid for stand down time. That is where really makes a difference, is when, like in the EU, we ran a story just a few days ago that the EU is paying wind farmers their wind farms to turn down. So we’ve got to get the pricing thing figured out, all that. [00:09:20][103.4]
Stuart Turley: [00:09:20] Here’s my last story for today. Reporter raises alarm over Chinese Electric vehicle data collection. Holy smokes, man. I’ll tell you what, we’re in a whole new world right now. A new report warns that Chinese electric vehicle manufacturers could pose a national security risk to the UK during data privacy concerns and potential ties to Chinese military industrial complex. The report claims that Chinese made EVs could be used to spy on the UK, and that built in technology could allow China to disable these vehicles. This is a very frightening story, especially on the day today when we had Hezbollah’s pagers go off and I don’t know the number. But I believe that there’s about 11 people that have been killed and about 1500 are in the hospital with the Hezbollah Israel attack the pager systems. Now, we all know that phones have bigger batteries and can someone hack in and then override the battery? I don’t know. But I’ll tell you what. I’m not sleeping with my phone next to my head anymore, I’ll tell you that. So this brings up a very, very big point. I don’t want to have an electric car that is tied to the Internet in any possible way. And I don’t want to have any kind of car that can be shut down or locked and taken over, controlled forward. Michael and I talked about this on the show a little while ago, and that was Ford even had a if you missed your payment, it would drive itself to the collection agency. You can have too much technology. [00:11:08][107.5]
Stuart Turley: [00:11:09] So with that, this is a great story. Go to the energy newsbeat.substack.com and check out all of our podcast there. Go to energy news. Meet that Co. Forward slash trading desk. If you are looking for LNG, natural gas jet fuel, we can sure help in getting you in touch with the right people for either buying or selling. So with that like subscribe share. Bring this to your pets and give them a hug. Have a great day. [00:11:09][0.0][655.5]
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