Daily Energy Standup Episode #341 – From Wind to Solar Waste, Oil Phasing Out, and Bridge Collapse Fallout

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Mounting Losses Mean Sweden’s Wind Industry Faces Total Financial Collapse

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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 Energy News Beat daily stand up. Today is actually April 1st, so welcome to April Fool’s Day. Yes, this is the daily energy stand up with Stewart Early. Michaels had on assignment for Easter. So hope you have a fantastic Easter weekend. Let’s get ready to rumble. We got us some stories that are unbelievable. Mounting losses means Sweden’s wind industry faces total financial collapse. DeSantis office quietly back Florida ban on wind energy. It’s kind of interesting coming around the corner here we have solar panel waste reach crisis levels in the next 2 to 3 years, Australian experts warn. I want to give you a little inside baseball. It’s already here. Let’s go to the next one. Here. It’s time to abandon. Is it time to abandon the idea of phasing out oil and gas? I’m not sure, but let’s have a talk about it. Let’s sit back and take a look at this one. Tax expert warns ripple effects of Baltimore Bridge collapse. Economic damage is hard to comprehend. I didn’t realize how bad it was, but this is pretty important. And then, I guess, or get high pressure gas pipeline halt. Salvage of Embry Dudley, which is, the Baltimore Bridge, collapse. This is a, big, big deal going on right there. And again, our hearts and prayers go out to all the folks that are impacted there. [00:01:51][96.1]

Stuart Turley: [00:01:51] So let’s start out with our first story here. Mounting losses means Sweden’s wind industry faces total financial collapse. I’ll tell you. This one is pretty, amazing when you sit back and take a look at the total loss for the years 2017 through 2022 amounted to 13.5 billion, just in losses in, the Swedish corner, which is 1.2 billion in U.S, 13.5 billion Swedish corner, 1.2 billion in euros, which is a net loss margin of 39%. You can’t operate a business for that long, by any stretch of the imagination for being, 39%, negative money since The Economist’s, initial findings, Sweden’s largest wind farm insulation of 179 turbines is now facing bankruptcy. With millions of krona in debt. Unbelievable. The losses are simply because the industry cannot produce electricity at a cost below market price. Despite extensive subsidies. This would put any other industry out of business if this was not mandated by, government and the forced to, quote unquote, renewable energy. No, this is not market friendly at all. And when you take a look at the fact that these wind turbines are not recyclable, this is really devastating for the economy and the environment. Let me know what you think. Let us know. It share in the comment sections. Let us know. Reach out to us if, you see this, this trend happening around the world as we are,. [00:04:04][133.0]

Stuart Turley: [00:04:05] Let’s go to the next, story here. DeSantis office quietly back Florida ban on wind energy. I am not totally, behind that governor DeSantis as a run for, president, but he has been an outstanding governor, and I really applaud them for this one. A version of the bill that is now awaiting DeSantis signature to become law will ban offshore wind turbines in state waters, also proposes to delay the majority of references to climate change found in the state law. It’s pretty amazing when you sit back and take a look, as discussed with Representative Altman and Senator Collins, this, referred the alternative to the bills is banning wind energy, wrote Farrell in one email address to the lawmakers. The construction, operation or expansion of a wind energy facility or an offshore wind energy facility in in this state. They don’t. Florida currently does not utilize offshore wind because they just don’t have nearly as much wind as is deemed. Good. I applaud this because wind energy is technologically not sustainable and is fiscally irresponsible, but is also damaging to the wildlife if the technology changes. I’m all in. So hats off to governor DeSantis for, following through on this. And, we’ll see how it plays out. [00:05:49][104.0]

Stuart Turley: [00:05:50] The next story here. Solar panel ways to reach crisis levels in the next 2 to 3 years. And Australian experts warn 12 year industry roadmap has been unveiled to address the rising amount of solar panel waste headed up for the trip. The solar panel is quickly approaching its tipping point. I’ll tell you what it already has the amount of waste that they are. Solar panels are not recyclable. They are filled with hazardous materials, and they are being improperly disposed and just put in land waste or put on ships and shipped to other countries. So the energy hypocrisy of the United States needs to not buy solar panels from child, abused systems, or wait until we can actually use solar panels that can be recycled. This is critical. How about the, 3300 acres of Texas wind farm solar panels that just got destroyed in a, a hail storm? Those are now headed to a landfill. And all of those 3003 800 acres are not even usable until reclamation can happen. Here is a quote. If we get this right, we can close this loop in a way that will underpin the Australian life for generations with the recovery and recycling of these precious metals and rare earth inside discarded end of life panels. I applaud this. Let’s take a look at it. The federal government announced Friday and a $1 billion funding boost aimed at increasing the number of Australian made solar panels, which may increase the number of solar panels designed in a manner that makes recycling easier. Currently, 90% of the Australia panels used in Australia are imported from China. Okay, you take a look at the $1 billion fund. They are going to be using. It is not going to be, technologically. This is again not solving the problem. Building solar panels that from materials that can be recycled is critical. And then being able to sustain power at market rates is unbelievably critical. So keep an eye on this. But again, the only thing that we’ve seen from the renewable industry is the wealth distribution and transfer of wealth. This has not been anything other than, taxing and then taxing from the taxpayers and going to the rich. And that’s all this has been. And this may be something similar. I am all in on solar if it can be recycled. And, hopefully we’re going to follow this to see if it does happen. [00:09:23][213.2]

Stuart Turley: [00:09:25] Let’s go to the next one here. Is it time to abandon the idea of phasing out oil and gas? This article has several different key points in here. And that is, the green side of the equation is really upset that Saudi Arabia, Saudi Aramco’s CEO, Amir and Nasser came out and said that the energy transition is not happening and called for policies to make the, abandon the fantasy of phasing out, oiling, coal and, oil and gas. Here’s where Saudi Arabia and you’ve heard me say this before. Saudi Arabia has done this right. They are using the prophet. That’s from oil and gas, and then paying for research and implementation into clean energy there and putting in clean energy technology and the hydrogen. They’re working on the technology. And so they’re actually trying to go to, renewable or sustainable energy, but they’re using the profits from oil and gas in order to do that. I think that makes sense. Where this article also brings up is that there are green campaigns that are criticizing Big Oil for undermining the importance of the green transition and global efforts to tackle climate change. However, they’re more than the people at the UAE and other big, oil countries have stepped to the forefront of Cop 28 and in the front, saying that we are not going to migrate away from, oil and gas, as fast as they would like. I agree with them. Let’s fund the energy transition through the use of proper use. And going through and taking a look at how to best deploy the money and then actually put in technology that works for an energy trans transition. Until then, you’re not going to have an energy transition. It’s a pretty interesting article. [00:11:48][143.7]

[00:11:49] So let’s come over to this article from Fox News. Tax expert warm expert warns ripple effects from Baltimore Bridge collapse. Economic damage. Hard to comprehend. This was a pretty amazing Nico. Sponge Andrews, CEO of auto agent. They have, I believe, $1 billion or more in tax, that they, of, tax, people submitting taxes and that they follow through. They are very well versed on the tax implications of this disaster. And, this was pretty good article going on. And here the auto agent CEO described how bad is that? One of the U.S. largest seaports came to a screeching halt. It’s hard to comprehend how this will, and, impact things not for the city, but for the state and east of the United States, but possibly the rest of the country. This was the one of the biggest, import facilities for cars, but also export for coal. India has already, is the biggest impact of the exports to coal on this. So property taxes, they fund all the local agencies, municipalities, city services, essential services, police department, school districts and noting how in the state of Maryland taxes are collected on twice a year, this is going to be dramatic. A professor of economics and department chair, said the impact of Baltimore economy is likely to be substantial. I think he could use the bigger word like, Holy cow, Batman, but I’m not really sure. [00:13:34][104.9]

Stuart Turley: [00:13:34] And then the other story on this, on energynewsbeat.com, is high pressure price, pipeline halts salvage of the MV Dolly, which is the cargo ship that hit the bridge in Baltimore. The salvage master we interviewed said sections of the bids had cut through the deck, causing serious structural weakness. Merging a steel bar, putting a metal, powerful metal vice. He says now lift and drop that other, end the tide you’re lifting and dropping on that bar. Each time you do the vice, it gets deeper and deeper into the steel. And then there is a pipe, underneath it. Miss producer, if you can bring that, you can, there is high pressure gas line. You can bring that out and show our, viewers it shows for Carol. Is right there where the bridge was impacted is the actual natural gas pipeline. So, they have depressurized it right now, so it is not in any danger, but they want to make sure that they don’t damage it in order to try to, get the ship off of it, as well as start directly to, and get the, salvaging and the channels open. [00:15:04][89.6]

Stuart Turley: [00:15:05] So with that, like, subscribe, share. And, we truly a. All of our grateful listeners and, have an absolutely wonderful, April Fool’s Day. Hope you have some kind of fun, prank in store for you. Have a great day. [00:15:05][0.0][884.6]

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