EU Admits Russian Gas

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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’s Stu Turley, a president and CEO of the Sandstone Group. This is a daily stand for January 21st. It is inauguration that day after inauguration, and I couldn’t be happier. We’ve got a great line up for you today. Oil prices fall ahead of Trump’s inauguration. This was as of yesterday. UK nuclear power ambitions hampered by delays and Soaring costs. U.S. Approves 2.4 New watt offshore wind project just before the inauguration. Retro should have waited a few minutes. Norway’s Equinor’s restarts Hammerfest LNG export plant. Pretty cool. EU makes admission about Russian gas. Imagine that. And now after this we’ve got prices going through the roof and six LNG cargo. We’re going to Asia. We’re just diverted for the higher prices. You got to love it. [00:01:12][61.4]

Stuart Turley: [00:01:12] Let’s go to this first story here. Oil prices fall ahead of Trump’s inauguration. This was banks are gearing up for oil prices to fall below $60 a barrel by the middle of Trump’s term. I don’t know about that. I’m going to say I don’t know all my beer yet. Oil prices fell in Monday morning session as traders await President Trump’s inauguration. Hope some clarity of his policy. Brant crude Mar was down 1.5 to trade at 7966 per barrel. At 11:20 p.m.. Here’s here’s where I’m saying that. I’ve said this a few times. You’ve heard me say this. It is drill, baby, drill is the campaign promise from President Trump. I’m all in. But the great oil and gas operators, exploration companies and producing production companies are going to be drill baby when fiscally responsible because they’re going to be giving money back to their investors. And by the way, I love my oil and gas investments. So just thought I’d throw that out there. So I think President Trump is going to do an absolutely phenomenal job with his three picks that are going to be responsible for helping out with this. They are going to be able to help reduce costs, which is going to get the cost to the consumers. Down with Chris, Right. Doug Burgum for the interior and Lee Zeldin, cost is critical to reduce and just the regulatory over Bering an overreach. So he is going to be able to keep his commitments and I think it’s going to be fantastic. [00:02:46][94.2]

Stuart Turley: [00:02:47] Let’s go to the UK. UK is in trouble. Nuclear power ambitions hampered by delays and soaring costs. The construction of Hinkley Point C in Sizewell C nuclear power plant is facing significant delays and cost overruns, jeopardizing the UK’s energy security. This is not just the only things doing the UK energy security. It’s called all of their mad green energy policies. They’re not doing all forms of energy. They are absolutely horrific in their energy policies. They’re following the German model. The UK government and EDF currently plan to fund 40% of Sizewell C, which is expected to power as many as 6 million homes once operational again. The problem is they let this go too long and they need the baseload trying to put the renewable energy in there. And now they don’t have the natural gas coming out of it. And then you have natural gas shortages in other areas. So energy security needs to be thought out more like the Saudi Arabian Arabia. Folks, when you take a look at energy policies over a ten, 20 year plan, you cannot do what the United States has been live, just live through four years of bad energy policies and then trying to do it. Don’t do what the U.S. and the UK you’re doing. [00:04:17][90.4]

Stuart Turley: [00:04:18] The US approves 2.4GW offshore wind project before the Trump inauguration. And President Trump is signing a ban and a moratorium on offshore wind farms as soon as possible. I’ll have more on that as soon as I can get some details. This follows the U.S. Department of Interior approving south coast wind in late December. It is the 11th commercial scale offshore project with a capacity of 2.4GW, enough to power more than 84,000 homes in Massachusetts and Rhode Island. The project covers nearly 515mi² and 48 miles south of Martha’s Vineyard. Here’s a problem. The executive order that President Trump is signing is for national security and windmills and offshore in. Impede radar and we are having some serious drone issues. We’re having all these other things and drones coming in our food through the wind farms. That’s a problem for military. And I applaud President Trump for doing this. So. Just kind of hang on to your ear, your sandwich there, folks. Don’t spend that check yet. [00:05:29][70.8]

Stuart Turley: [00:05:29] Let’s go to Norway’s Equinor restarts Hammerfest LNG export plant. Gas go. Data showed Monday that the planned shutdown event ended on Sunday. The gas go data shows that Equinor plant conduct maintenance and the feasibility until July 10th decided to stop production on January 2nd for ten days due to an issue with a compressor there. All good gas reaches Hammerfest via a 116 kilometer pipeline which began operation in the autumn of 2007. So we’re glad to see that that is back online and the UK and and Norway is very doing everything they can to totally provide natural gas. They’re a big provider for natural gas for the EU. [00:06:13][44.2]

Stuart Turley: [00:06:14] The EU makes admission about Russian gas spokesperson is acknowledge the sanctioned country energy is still flowing into the block. Russian energy continues to flow to the EU. Particularly glass is still present in the EU. The E.C. Spokesperson for Climate Action and Energy, Ines Anna Kizer I’m sorry, I’m going to butcher your name in, Token told a briefing on Monday. She noted the commission plans to issue a road map in late February or mid-March aimed at completely ending Russian energy imports. Here’s where it is absolutely going to be a little tricky. Germany Chancellor Schulze has lost the vote of confidence and now they’re having a runoff or another election in Germany. And so what you’re going to see is his opponent now is calling for Russian cheap Russian natural gas. So Germany has totally been industrial advised because they cannot get enough natural gas. I just had an interview with Steve Reese, who is, in my opinion, one of the foremost knowledgeable men in the United States about natural gas, the auditing, and he has talked to Harold Hamm. This this podcast is going to come out and it’s absolutely phenomenal. He’s also talked to Toby Rice about things. They’ve got a cradle to grave solution where they are going to be supplying LNG to the German markets. And and so that he is but is still a lot more costly in order to get it there. But it is secure and he did make that point home big with me. So you’ve got to have energy security if you’re going to have businesses and industrialization. [00:08:01][107.1]

Stuart Turley: [00:08:02] So with that like subscribe share and it is even though it’s not taxes and if you like having mailbox money like I do, I love my oil and gas investment and go to Energy News Beat.com and take a look at the top menu bar and you’ll see that questionnaire is your portfolio. Okay. If you want to, we’ll let you know who we’re we’ve invested in and I’ve been averaging about 32% returns on my money. I like mailbox money dope with that. Have fun and we look forward to seeing everybody. This is going to be a. A nominal 22. [00:08:02][0.0][468.0]

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