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Daily Standup Top Stories
U.S. produces the energy everyone is looking for: 900 MW at the largest plant in the world
It is a common misconception that renewable energy is hidden in large production plants. Instead, it is found in the sun, in the wind or in an unprecedented source that the whole planet is looking for […]
Geopolitics and Inflation Threaten to Derail Booming Stock Market
The S&P 500 index achieved its best first quarterly performance since 2019. Economic data, such as low unemployment and GDP growth, indicates positive conditions for corporate profitability. Geopolitical conflicts and rising bond yields contributed to […]
Biden Aims to Bridge the Decarbonization Divide With $7 Billion Solar Initiative
Wealthy nations and individuals have greater capacity to transition to clean energy, leaving poorer communities more vulnerable to climate change. Within wealthy nations, disparities exist in access to incentives for green technology adoption, such as […]
Global Upstream M&A Market Poised for $150 Billion Injection in 2024
Global upstream M&A deals could reach $150 billion in 2024, surpassing the first quarter’s $64 billion mark. North America, particularly the US shale sector, remains the driving force, with $80 billion of assets on the […]
OPEC’s Oil Production Falls in April
OPEC’s crude oil production fell in April, according to a new Reuters survey, with news of the fall likely to add support to falling oil prices. According to the survey, the results of which were […]
Norway to extend life of mature Brage oil and gas field in North Sea with new Bestla offshore tie-in
(Bloomberg) – Norway will add a new offshore oil and gas development in the North Sea, extending the life of a nearby field that has been in operation for over three decades. Okea ASA will […]
Highlights of the Podcast
00:00 – Intro
01:53 – U.S. produces the energy everyone is looking for: 900 MW at the largest plant in the world
03:56 – Geopolitics and Inflation Threaten to Derail Booming Stock Market
06:15 – Biden Aims to Bridge the Decarbonization Divide With $7 Billion Solar Initiative
07:51 – OPEC’s Oil Production Falls in April
08:59 – Global Upstream M&A Market Poised for $150 Billion Injection in 2024
09:57 – Norway to extend life of mature Brage oil and gas field in North Sea with new Bestla offshore tie-in
10:59 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:15] Hello, everybody. Welcome to the Energy News meet daily stand up. Today is May 1st. And I’ll tell you what. We’ve got an action packed show for you today. Let’s go through our top stories. U.S. produces the energy everyone is looking for. 900MW is the largest plant in the world. Pretty exciting story here. Let’s go to. The geopolitics and inflation are threatening to derail the booming stock market. Are you invested in the stock market? Biden aims to bridge the decarbonization divide with $7 billion solar initiative. Don’t trust the numbers. Let’s go to OPEC’s oil production falls in April. I wouldn’t want to manage OPEC. I’ll tell you what. They’ve got their work cut out for them. Let’s go around the corner here to global upstream M&A market poised for $150 billion injection. People are wanting to invest in oil and gas and it shows. Let’s go to Norway as another way just to say hey, shout out for the North Sea. The bridge, oil and gas field with new Besler, offshore tie in. They are going to be extending some of their, work there in the North Sea, which the UK with the UK interconnect as well as natural gas plants, all in the EU. Are really excited about getting some extra life there. [00:01:52][97.4]
Stuart Turley: [00:01:53] So let’s get started. U.S. producers, produces the energy everyone is looking for. This is a 900 megawatt geothermal power plant. This is pretty cool. Geothermal. And, you know, the potential technology I am seeing a lot of people talking about. Geo power is almost 27 times expansion by, 2050, reaching approximately 100,000,000MW. According to the doe e g e a geothermal energy association, in the form of moderate expansion. But it anticipates broader scale of 21,000MW of geothermal capacity by 2050. The exciting thing about geothermal is geothermal can take advantage of the ENP oilfield service and everything else to try to help get that technology so that we can use some of the abandoned wells so we can use, take advantage of the ESG and get rid of orphan wells and turn them into, geothermal, energy. This one, the newest Geo, is undergoing 900MW in the LA area and the Imperial Valley in California. The only time I’m really, really proud of California, they’re doing something like this. This is pretty darn cool. So geo thermal. I am a huge fan, and I want to give a shout out to Doug Sandridge today. I’m wearing his shirt that he gave me. I signed the oil and gas executives for nuclear. I am a huge nuclear fan and, we have got to have, the low impact, environment and long, low cost, energy to all consumers. [00:03:54][120.9]
Stuart Turley: [00:03:56] Let’s let’s just roll out the nuclear bandwagon. Geopolitical politics and the inflation threaten to derail booming stocks. Let’s just have a little bit of fun here. The S&P is looking at having its best quarterly performance in 2019. I want to take a moment right now and ask a question of our listeners. Send a note to [email protected]. And, I really want to know, do you think the stock market is being falsely manipulated by computer eyes to, sell down and or, short stocks, or do you think this is actually market generation by fundamentals? It’s been years since I had my MBA and my financial formulas. Nothing makes sense anymore. So when you sit back and take a look, are there new fundamentals? They I involved. Is it being falsely manipulated? One of no other factors is GDP growth pointing to the upside remain fertile ground. I want to disagree with this article from the standpoint that the US is at one point. Believe 9% growth, which is absolutely even less than Arafat and and the others. So, Precious Metals is being bought, by China, like you wouldn’t believe in the advent of getting ready for BRICs with Russia. The dollar index for the month of April showed almost bullish, with the price over 106 25. And oil has an inverse relationship with the U.S. dollar. But it held, pretty tough because of the geopolitical situation. So, it is going to be very interesting. The article goes on in to say that, government data could signal a new direction. My problem with government data is they’ve been manipulating the data. So, I got just questions. I would love to know people’s feedback on this. Let us know your thoughts. [00:06:14][137.9]
Stuart Turley: [00:06:15] Let’s go to. The Biden administration aims to bridge the decarbonization divide with a $7 billion solar initiative. I’ll tell you what. I don’t trust the numbers in this article. I thought the article was very good. This is from even. Believe it or not, our buddies over there at, oil price. The $7 billion in down endowment, will most certainly move the climate finance needle in the right direction for solar. Here’s the problem. The new solar for all program means that 900,000 households will have solar on the rooftop for the first time. Millions of families will save, 400,000 per year on their electricity bills. This has been a false number from day one because of the way the grid operators, California, has had some serious problem with rooftop solar trying to get money back because in the middle of the day, solar is then turning energy negative when the grid operators can then use it. And how do they use finance or fund back to the consumers? This is a nightmare. And they this is false numbers the Biden administration is putting out in this grant. It is absolutely despicable management of fiscally horrific responsibility. Or I’m going to start using that fiscal horrific responsibility. You gotta love that one. [00:07:51][95.7]
Stuart Turley: [00:07:51] Let’s go over here to oil OPEC oil production fall in April. This one’s pretty significant. According to the survey which results were released yesterday which is Tuesday. OPEC’s crude oil production fell to 26.49 million barrels per day. That’s 114,000 barrels per day drop from the levels OPEC produced in March. In March, Iraq, Nigeria, Venezuela, the UAE and Libya all saw production decreases, which they were kind of excited about. Saudi Arabia and Rand saw the largest production increases. Saudi Arabia needed to get some money, increasing and everything else. You heard me talk about the Dark Fleet for a long time, and this really impacts OPEC plus members more so. But it does impact, the OPEC members. There are increased ships being assigned into the, Dark Fleet. Dark fleet gets around sanctions. Unbelievable. [00:08:58][66.9]
Stuart Turley: [00:08:59] Let’s go ahead and get to the next story. Global upstream M&A market poised for $150 billion injection in 2024. Global upstream. This is from, our boys over there at Rystad. The Permian has dominated in near future with 41 billion of non Permian opportunities on the market. This includes Vulcan focused Grayson Mills Energy Unite, focused Sea Resources, Exxon’s Balkan portfolio, EQT ts operating Marcellus portfolio and certain Haynesville assets from shell and BP. This is amazing. The M&A is not over with. I think it should, really, keep going. And a shout out to, at over at, vice president of upstream research at Rystad. [00:09:56][56.9]
Stuart Turley: [00:09:57] Let’s also go over to the, Norway story for just a brief moment. It’s kind of exciting to see that Norway to extend mature bridge, oil and gas field in the North Sea with new, best onshore tie in Norway will. Add a new, offshore oil and gas development in the North Sea, extending the life of the nearby field that has been in operation for over three decades. I’ll tell you, this is exciting from the standpoint of, Michael and I had talked about for a very long time on trying to get, discussions about Norway shutting down natural gas. And now Norway is the, Cinderella at the ball. And, they’re pretty excited to be keeping the North Sea open. So when you take a look at the interrelations, the European market, natural gas, electricity. I’m glad to see some positive, things happening, there in the North Sea. [00:10:58][61.0]
Stuart Turley: [00:10:59] Shout out for that. Subscribe. Like. And again, reach out to me. I am so pleased with all of the feedback that I’m getting from around the world, discussions that I get to have with energy, leaders. And we want to know and share the world and have to share the story on how to end energy poverty for everyone in the world, while having the least amount of impact on the environment, being fiscally responsible. Let’s do great for the economy. Let’s do great for, the environment. Let’s do great for people’s pocketbooks and do it in an organized fashion with that. Have a great day and I’ll see you guys tomorrow. [00:10:59][0.0][636.8]
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