Week Recap: China’s Energy Dominance, Tech’s Nuclear Push, and U.S. Policy Shifts

Not surprisingly, with California having huge costs for electricity and fuels, the recent Public Policy Institute of America survey revealed that California’s “green” Governor Newsom is by far the MOST UNPOPULAR Governor in America ! […]

Google falling short of important climate target, cites electricity needs of AI

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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. Welcome to the Energy News, the daily stand up. This is the weekend edition. It is. A summary of. All of the greatest stories that Michael and I. Covered this. Week. It has been absolutely bonkers. Today is Saturday. I hope everybody had a van tastic July. 4th. Weekend. Sit back and enjoy the best of the stories. We are absolutely living in some wild times. I hate using unprecedented. This is beyond. Unprecedented. And if you are looking. For. Condensate, oil and gas, crude, jet fuel, shoot a note and, go to, energy newsbeat.com forward slash, trading desk. And, we want to jump out and help you out. So with that, enjoy the show. [00:01:02][48.1]

Stuart Turley: [00:01:02] Hey, let’s start with our buddies over in China. You can’t buy this kind of entertainment, Michael. China surpasses Europe in per capita energy consumption. Whoa. This is out of the article. China has changed the. Energy world, but. Now China is changing. The International. Energy. Agency, the IEA, the IEA. Reported in their 2030. Flagship world Outlook, the. Second largest. Economy in.The world is saturated its own market after years of building roads and. Buildings and. Other infrastructure as. Fast as it possibly could. The vast Chinese domestic market is finally about tap. Here’s where it gets really, really crazy. Is the fact that the de-industrialization of the. Europe. Because they have gone. To renewables. Has really impacted this number. So it’s not just a oh, by the way, China is increasing the per capita of energy use. It is. Because Germany. Is indeed industrializing because of. Their energy. Policies. Here’s again a. Line. In here that just really. Will whack you upside the head. Quote. We cannot we should not. Ignore the energy and. Emissions. That the Europeans. Have effectively. Exported. To Chinese manufacturers, Energy Institute Chief Executive officer Nick Wyeth. Recently told Bloomberg. If a decline in energy consumption and emissions. In Europe. Simply boosts. Carbon output somewhere else. Policies to tackle global climate change. Aren’t working. Well. You know what? All of the manufacturing of the pollutants. For. Wind and solar. Are. Made in China. They’re increasing. All of the profits, and then they’re using that to build. Their their standard of living and everything. Else. This is just a scam as the whole thing. [00:02:54][111.6]

Michael Tanner: [00:02:54] Well, I mean, again, as I said, shocker here, China’s starting to use more energy. I mean, when you have population that’s increasing like China has, you know, obviously we know they they’ve dropped a little bit off what they were doing back when they had the one, the one child policy. But relative to what you’re up Europe is flatlining when it comes to policy. So this is just a matter of population. I do think this comes down to, you know, now why China is just getting as much energy as possible, why they’re going back to coal. That’s why they’re diving headfirst into all this stuff. It’s because they know their energy demand is going to be going through the roof. [00:03:27][32.3]

Stuart Turley: [00:03:27] And. They are. Still stockpiling oil and natural gas and natural gas, LNG, and they have new pipeline contracts and all that. Is a precursor to war. Supreme court overturned Chevron decision curtailing federal agencies. And. Major power shift in. The Chevron decision. This is an amazing 80. Years story of overreach by our government. This is a total ability. For. The next administration to clean out the deep state in many ways. How the the chevron the Megan Lamb with sea. Freeze fisheries. Is going to be on David Blackman’s energy question on July. 3rd. And I had the. Chance to interview her. A little while ago as well. The Chevron decision was about the. Overreach of the government. Forcing. Inspectors. On boats, and they were having to pay their. Salaries, their health insurance and everything. Else. And it was coming. Around that. $700 a day on a small boat. That’s a lot of money. For a. Small family boat. That was. Overreaching. So the decision basically says if the law. Is poorly written. Michael, it used the the the decision was when you filed under this defense, you had to say, well, then it all defaults. Or. All ties go to the state. I go to the federal government. And that means that you. Really. Had to go all the way to the. Supreme Court every time. You wanted to fight this. The the government now an appellate court. Can solve the problem. This is huge. For the consumers. Because now the appellate courts can do it. So man, vote. For your. Local judges. [00:05:23][115.7]

Michael Tanner: [00:05:24] Yeah, that’s that’s the big thing I was going to say. I think you guys, David Blackmon did a great, great job on the three podcasters breaking this all down. So I I’ve got really not much to add is yes, local politicians are good. And specifically local judges are going to be critical if you care about this type stuff because it’s it’s exactly it’s what the Supreme Court said. Kick it back down. We don’t have to rule on this stuff now. [00:05:47][22.5]

Stuart Turley: [00:05:47] Oh, absolutely. And and so. We are recording. This on a Sunday evening and we don’t know. You know, the fallout from that debate is still going to be seen. Because if Biden if Joe Biden still wants. To him to run. Is going to be, you know, is he going to be asked to step down? Is she want to even say yes? Who is going to step in? Is it going to be Michelle Obama? Is it going to be Hillary? Is it going to be Gavin Newsom? How are they. Going to pay off? You know, but all that, all of this is just in the in the up in the. Air about energy policies. Michael, this is the biggest impact of. Energy. Policies I have ever seen in an election. [00:06:32][44.4]

Michael Tanner: [00:06:32] Well, because the problem with having government agencies create policy is every four years you get a new agency and every four years you get a new, you get a new direction, you get a new change. And it really is hard to plan it. One thing we’re going to talk about when we get to the Dallas Fed survey. [00:06:47][14.5]

Stuart Turley: [00:06:47] Tech. Industry want. To lock up. Nuclear power for. A Michael. This one is got Amazon. And then the next one is Google. So you can’t beat an Amazon Google tag team. On our stories here. The owners of roughly a third of. The US. Nuclear power plants are in talks. With tech companies to provide electricity. For new data centers needed. to meet the demands. Of artificial. Intelligence. Boom! Amazon. This is amazing. Constellation energy at 2.91 increase. Upcoming triangle Amazon. It’s unbelievable. They in a. Subsidiary purchased a nuclear power plant in. Pennsylvania. We covered for 650 million bucks. And when you sit back and take a look at it, the AI demand is looking at between these two articles. I’ll go into the other one here in a second, pushing out renewables. And they’re going to be. Putting in. Contracts for nuclear power and then. Buying only. The. Renewable when they need the credits. That’s going to destroy. The grid. For the. Consumer. Oh yeah. The grid for that’s the first thing I thought it was like, we’re in trouble than it is. And so you’re. Getting this is the new interest in nuclear is just unbelievable in. This Maryland nuclear power plan. It’s pretty amazing. Share. Let’s see here. The customer has. To come to us with many of the industry says I’ll need as much as. Power as you. Can make available. Said this, this energy chief. [00:08:18][90.8]

Michael Tanner: [00:08:19] He’s going to take over the grid. You’re seeing this. I mean, Amazon wants as much capacity. Just wait till they start buying old rundown. When does a tech company buy Diablo Canyon? Oh, if it’s going to be decommissioned, why would you not buy it as a tech company? Are you allowed to? [00:08:34][14.7]

Stuart Turley: [00:08:34] Well, that’s a. Whole nother. Animal, because if it becomes decommissioned, I. Think we’re going to. See the decommissioned. Start being. Recommissioned. [00:08:46][11.5]

Michael Tanner: [00:08:47] Oh, yeah. Yeah, I don’t think it would actually happen. Just an interesting just an interesting thing. But yes, they’re all big tech. They’re they’re coming for the power and they’re going to get it at all cost. So what’s funny is now we’ll actually see, you know, if if Amazon needs upgrades to the grid well guess what. Amazon’s probably going to get upgrades to the grid. So it could it could be a great thing overall. [00:09:06][19.3]

Stuart Turley: [00:09:06] But they’re only going to get them into microgrids. That they. Can afford for the. right thing. And so let me throw this at you here. The Federal. Regulatory. Commission also Amazon’s deal in Pennsylvania, as much as. $140. Million in additional cost. For the grid. Could go to the. Consumers. The consumers are getting this. Wow. [00:09:28][21.8]

Stuart Turley: [00:09:29] Let’s go to coal. Now I’ll tell you what. Chinese coal. Terminals bursting. At the seams. This import storage is. Bursting at the seams, and it appears unlikely that. Seaborne arrivals. Will be absorbed unless end users begin. Directing. Coal inland. Part of this is because they had. More rain. Than they expected, so their hydro was able to pick in. But they’re still stockpiling oil, natural gas, LNG. Everything that. They can. And they’ve now got several new pipelines that. They are working out with the. Russians. China’s. Top three sources for coal this year. Indonesia. Australia and the Russian Federation. Where they are importing from. [00:10:12][43.3]

Michael Tanner: [00:10:13] Yeah. No, it’s I mean, they’re there. They love their energy. They’ll get it in any form that they want. Yes. [00:10:18][5.6]

Stuart Turley: [00:10:19] Now here’s the funny part, Michael. China is pushing electric cars on its population at tremendous rate, he said, noting how taxes had been skewed to. Favor cars that do not. Rely on imported oil. Possibly this turns Bush’s. Demand for coal fired by higher powered. electric usage. [00:10:37][17.4]

Michael Tanner: [00:10:37] Hey, it’ll be interesting to see they’re going to be smart, you know, and this is going to come up with another issue. If Trump does win in November, there’s going to be a big tariff on China. It’ll be interesting to see if that EV market bleeds into ours. And people are expecting the price of electric vehicles to go down tremendously as China begins to import. But Biden slapped a tariff on it. And if if Trump wins, you’re going to see a whole nother round of tariffs on it. [00:11:00][22.6]

Stuart Turley: [00:11:00] I want to give a shout out to Vance. Yeah, he was a Trump economist and I interviewed him. That should be coming out tomorrow or the next day. One of the key things that he said is he don’t look for all these Trump. Tariffs to kick in nearly as easily. They’re not as. Easy as he is say. And he helped do. The first ones. So I don’t think we’re going to be terrifying anytime soon. [00:11:22][21.5]

Michael Tanner: [00:11:22] No I don’t I don’t think so either. [00:11:24][1.8]

Stuart Turley: [00:11:25] Governor Newsom Governor Newsom’s unpopularity might have something to do with his extreme mandates that make life unaffordable. As I look at this. Article from. Ronald Stein and. I have really enjoyed my conversations. With Ronald, they need to follow. His information will be in the show notes. I’ve read. His books. He is the Pulitzer Prize nominee on clean energy adaptations. He is absolutely a great resource. In California, the economy depends on. Affordable, reliable and cleaner electricity. Fuels. Unfortunately, policymakers. Are driving. Up California’s electric and gas prices, and California now has the highest electricity and fuel prices in the nation. Governor Newsom remains oblivious to the fact that. Mandatory. Emissions just in wealthy countries to achieve net zero is a fuels whose game the governor is also in remains reluctant and incapable. Of. Participating. In conversations. About basic. Energy literacy. Questions. Well said. China, India and Indonesia. Are three of the largest emitting generators, same as. Countries that do not have the financial. Wherewithal or technical capabilities to reduce or capture anything. I’ll tell you what. Ronald just hits. It right. Out of the. Park and there’s a graphic in here. Miss producer, if you. Could bring this up. Regular gasoline and diesel and take a look at that cost difference. California fuel is. $2 more expensive. Than that in Mississippi. And look at the gasoline and the taxes. 14 and 15%. I mean, California just taxes it right on top of it. California’s growing dependency on. Other nations for its crude oil. Is. A serious. National. Security risk for America. Since the state is home to nine. International airports and. 41. Military airports, and three of the largest. Shipping. Ports in America. This is a national security risk. And not only does California buy from China. They’re going to be buying more. Diesel and gasoline. On some rumblings that. i’ve been hearing, don’t. Have the ability to talk about that yet. But this is despicable what Governor Newsom is doing. Just thought I’d share my personal opinion. On that one. [00:13:54][149.3]

Stuart Turley: [00:13:54] So let’s talk about Google. Let’s roll over to Google. I’m not a Google fan, just thought I’d share that with you. Google falling. Short of importance on. Climate. Target. Sites. Electricity needs of I. Google has gone woke. If you’re not aware, three years. Ago, Google set an ambitious plan to address climate change by going to. Net zero, meaning it would release no more. Climate changing gases in the. Year removed by 2030. Here’s where I find them. Very hypocrisy. They said that they were. I remember seeing on Chrome. Where they were carbon. Neutral since. 2003 or whatever the. Day was. On there. And that was lying. So you can be a. Hypocrite and a liar and still. Be big tech. But rather than declining its emissions, emissions. Grew in 13% in 2023 over the year, compared to. The baseline of 2019. Emissions have. Soared 48%. Google cited the artificial. Intelligence in the demand it puts on data. Centers, which requires massive. Amounts of electricity. For last year’s growth. This is a great. Article, and it really. Elevates the fact that the data centers and big tech are going to have microgrids and the. Consumer grids are going. to be left. Bare. We are going to need very good Department of Energy. Management of the. Grid. And not incompetent buffoons. That are running. Our. Department of Energy right now. We need an. Upgrade to the Department of Energy in order to keep the grid rolling. Did I just say that? I was just kidding. No. [00:13:54][0.0][808.9]

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