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Daily Standup Top Stories
China Targets Critical Metals in Tit-for-Tat Response to US
Beijing bans exports of germanium, gallium to American market Move is a swift reply to Biden’s escalation of tech curbs China announced an outright ban on exports of several materials with high-tech and […]
OPEC+ Is Firming Up Deal for Three-Month Delay to Output Hike
Delegates say no opposition has emerged so far to the proposal Ministers will meet online on Dec. 5 to seek formal agreement OPEC+ is making progress toward an agreement to delay its oil-production revival by […]
Europe Depletes Gas Inventories At Fastest Rate in Six Years Ahead of Winter
Europe is depleting its natural gas reserves at the fastest rate in six years. Kemp: since the start of the official winter season—October 1—gas in storage levels in the EU and the UK have declined […]
Brits Shell Out $1.26 Billion To Shut Off Wind Farms As Grid Struggles
British billpayers have spent an “absurd” £1bn [$1.26bn] to temporarily switch off wind turbines so far this year as the grid struggles to cope with their power. [emphasis, links added] The amount of wind power “curtailed” in […]
For Net Zero, UK Climate Advisers Urge Brits To Eat Less Meat, Take Fewer Flights, And Buy EVs
Brits were told to fly less, eat less meat and buy EVs to hit Net Zero goals, despite the PM saying he wouldn’t tell people how to live their lives. Britons will have to fly […]
Highlights of the Podcast
00:00 – Intro
01:06 – China Targets Critical Metals in Tit-for-Tat Response to US
02:56 – OPEC+ Is Firming Up Deal for Three-Month Delay to Output Hike
5:20 – Europe Depletes Gas Inventories At Fastest Rate in Six Years Ahead of Winter
07:09 – Brits Shell Out $1.26 Billion To Shut Off Wind Farms As Grid Struggles
09:22 – For Net Zero, UK Climate Advisers Urge Brits To Eat Less Meat, Take Fewer Flights, And Buy EVs
12:35 – 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 daily. Stand up. My name’s Stu Turley President and CEO of the Sandstone Group. Michael’s out making money today in the field, so you got to love it. I’ll tell you what, this is a crazy news day. China targets critical metals in tit for tat response to the USA. OPEC plus firming up deal for a three month delay in output outlook. Europe depletes gas inventories at fastest rate in six years ahead of winter. Retro Brits shell out $1.26 billion to shut off wind farms as grid struggles. Holy smokes, you can’t buy this kind of entertainment. Now try this last story on for net zero. UK climate advisers urge Brits to eat less meat, take fewer flights and buy EVs. [00:01:06][55.1]
Stuart Turley: [00:01:06] China targets critical metals in tit for tat response to the USA. This gets critical metals into uranium gallium to American market. This is very critical because it is super hard materials that are no longer allowed to be shipped to America, the Ministry of Commerce said in a statement Tuesday. Beijing will also place tighter controls on the sale of graphite. All of those are needed to keep the industrialization moving. Well, the US has generalized the concept of national security and politicized a weaponized economic trade and tech issue, said a ministry spokesperson in a separate statement. It has abused export control measures and unreasonably restricted certain products export to China. I have mixed emotions on this, and I know that when you take a look at the on energy news Biko, this story and the link will be in the notes sources of gallium and uranium imported into the US. China is 50% of those critical minerals and this is going to be a big deal. It’s been a while. And I’ll tell you, President Biden did not do the United States any favors by his very bad foreign policies. And now President Trump is coming in and having to clean it up. The consumers will be paying for this. And in fact, tariffs are not all that bad. And when you are used correctly and I’m all in on how President Trump is managing this process,. [00:02:55][108.7]
Stuart Turley: [00:02:56] Let’s go to the next story here. OPEC is firming up a deal for a three month delay to output hike. Delegates say no opposition has emerged so far to the proposal. Ministers will meet online on December 5th to seek formal agreement. OPEC is making progress toward an agreement to delay its oil production revival by another three months. We saw a little bit of a spike in the energy in the oil prices today, but in it’s been forced to delay the restart twice as faltering demand growth in China and swelling supply from the Americas weigh on the Americans. On the crude prices, Brant futures have retreated 17% since early July and traded near $73 a barrel in London. Here’s where we have a little bit of a miss information going on between the supply and demand. You have some of the largest amount of Dart fleet shipping going on in the world between I Iran and China. It’s in the South China Sea. We talked to Michael and I talked about this on Monday’s podcast. And when you take a look how much of that dark fleet shipping is being reported in the OPEC plus number. I don’t know. And I don’t think OPEC actually knows. So when I say they’re going to come in and bring in their production numbers, I don’t think they actually know what everybody is producing because of the Dart fleet. The Biden-Harris administration, weaponization of the U.S. dollar has caused OPEC and OPEC plus some huge issues in trying to maintain the balance of power around the world in the oil prices. I think it’s a bit of a problem. So I personally think we will see some of the folks I follow on X. They think that we are really going to be at that $70 range for oil for quite a while. I don’t think so. I think we’re going to be in that 80 to 85 range because there is not enough money being put into investment and there’s not enough drilling going on. [00:05:20][143.8]
Stuart Turley: [00:05:20] So let’s go to the next story. Europe depletes gas inventories at a fastest rate in six years ahead of winter. Holy smokes. This article is from Irina Slav and she is van tastic. I had the opportunity of visiting with her on Monday on the Energy Reality podcast, and she and David Blackmon and Tami Nemeth are rock stars. Europe is depleting its natural gas reserves at the fastest rate in six years as still a winter and low temperatures combined to challenge the content continent’s transition away from hydrocarbon hydrocarbons and delayed the EU. Total gas storage stands at 85.47%. Withdrawals at at sea year and withdrawals happening. A cold snap across the Atlantic has intensified and market tightness. We’re seeing that the green energy policies in the EU and in Germany, especially in Germany, avid industrialized and in the UK, green energy policies equals deindustrialization. Deindustrialization equals bad economies. Bad economies get you whole new election cycle. So you would think that the leaders in charge of the green new Germany would figure out, I got to reopen all my nuclear reactors and try to save my job. But no. Anyway, this one is all very well fun. And Europe is facing a gas reckoning that was initially predicted for the 2023 as luck and possibly climate change would have it. The reckoning reckoning was delayed by two heating seasons. Well done. Irina again follow her also. This was out of oil price, but follow her on her substack I arena slav.substack.com I believe. [00:07:18][118.0]
Stuart Turley: [00:07:19] Let’s go to Brits shell out $1.26 billion to shut off wind farms as grid struggles. Holy smokes Batman. The British bill payers have spent an absurd $1.26 billion. That’s 1.8 billion pounds in a temporary switch off of wind turbines this year. The grid struggles to cope with their power. The amount of wind power curtailed the first 11 months stood at 6.6GW hours, according to official figures, up from 3.8GW hours in the whole last year. A curtailment is when wind turbines are paid to switch off at times of high winds to to stop a surge in power and overwhelming the grid. Households and businesses pay for the cost of this policy through their bills. I’ll tell you what, I would not want to be a grid balancing authority or a person trying to manage renewable energy. And I’m using for my podcast listeners renewable with air quotes because they’re not renewable, nor are they sustainable. It’s absurd. This is a quote. It’s absurd that Britain pays Scottish wind farms to turn off when it’s windy while simultaneously paying gas power stations in the south. The turn on this is the total hypocrisy of the green energy machine. The green energy grid does not work without fossil fuels. You’ve heard me say this on the podcast before. I think it’s maybe called Turley’s Law Now. The more we put in the money we put into renewable energy, the more fossil fuels we will use. Kind of like the more money that you put into fossil fuels, the more deindustrialization you will be as a country. And the failure happened. So anyway, pretty good story. [00:09:22][123.5]
Stuart Turley: [00:09:22] There is another one the poor UK for net zero. UK climate advisers urge Brits to eat less meat, take fewer flights and buy EVs. Brits will have to fly less, eat leaves and use public transportation. More often they hit net zero goals. Net zero is actually nothing more than a wealth transfer proposition. And keeping a Kerry and all is climatologists panicking in money in terms AB asked at the Commons Environmental Audit Committee To what extent will individual behaviors be needed? James Richardson, director of analyst at the c, c, c said In terms of the analysts we’ve done. About 10% of emissions of reduction to 2035 comes from what we behavior change. That’s predominantly around diets flying and modal shift to public transport. This is exactly why the World Economic Forum wants you to be in the 15 minutes cities and why they’re trying to control you. The e these I believe firmly that Elon and Tesla will be a survivor. They are going to be a very profitable country company. And I love Elon. I love the fact that he is not taking subsidies for his EVs. Why? Because he has all of the features and all of the other things that are needed. But the average bear is not going to be able to afford a Tesla yet. But as far as the other cars, then they’re not there yet and they’re not that affordable. They don’t have the lifecycle of an ice car of an internal combustion car. So our very top recommendation, he also said, Piers Foster, interim chairman, said our very top recommendation is to reduce the cost of electricity. If you reduce the cost of electricity. You make a more compelling buy of an electric car. Here’s the paradigm shift. Where do you get your lower cost energy? You burn coal. Coal is not as clean as natural gas. Why? How did the United States lower all of its CO2 output? It replaced coal power plants with natural gas. How did China increase its by 200% over the last several years? It started opening up all forms of energy, including wind. Solar. What’s the coal plants? So net zero is nothing more than a scam. And it’s going to be a problem for folks. There is going to be more revolts against net zero coming around the corner, low cost energy. And we can do this. We can do low cost energy with the least amount of impact on everyone on the planet. And let’s end energy poverty, but let’s do it through proper use of deployment of a good solid grid. And we would be able to have low cost power for everyone. [00:12:35][192.5]
Stuart Turley: [00:12:35] So with that, hey, like subscribe if it is tax season is coming up into the end of the season. And if you are like me, I don’t like paying taxes. I’m getting about 32% on my investments in oil and gas and I have partnered with a firm as just an investor and they do a phenomenal job. Fill out the form. On energy News Beat.co is your portfolio okay? It’s on the top menu bar. Check it out. Send us a note. We’ll hook you up with them and say, Hey, is this the right investment for you? As always, I do not give investment advice. Check with your CPA and see if it’s right for you. Have an absolutely wonderful day and I look forward to seeing you next time. [00:12:35][0.0][741.6]
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