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Daily Standup Top Stories
Dutch government scales back offshore wind to preserve fisheries
ENB Pub Note: Focusing on Fishing rather than offshore wind is a good thing. The country is realizing that offshore wind is crippling their fishing industry and not providing the electrical generation that was promised. […]
EU’s Green Dream Ignores U.S. Warnings And Falls Into China’s Geopolitical Grip
ENB Pub Note: This article only scratches the surface of the changes in the financial and trading blocks underway. The UK and EU are losing their leadership in the global trading blocs, and the center […]
Saipem wins $590m deal for work on Eni’s UK CCS project
ENB Pub Note: Net Zero is an energy policy tool promoted by the left, and the UK has spent billions on this initiative to control the population and the electrical system. Examining the grid failures […]
Republicans Are Scrapping Biden’s Green Agenda To Cut Energy And Consumer Costs
GOP Congress repeals 7 Biden energy rules in the first 100 days, targeting methane fees, drilling reports, and appliance regs with more to come. Republicans, in their first 100 days with a bicameral majority in […]
Study Blames Oil Companies For Trillions In Damages To Bolster Climate Lawsuits
ENB Pub Note: The only winners in this Lawfare are the attorneys and the consumers, “who will get it in the drive-through”, to use the Joe Pesci phrase from Lethal Weapon. Dartmouth study claims fossil […]
Solar Power’s Overreliance Likely Culprit In Spain And Portugal Blackouts
ENB Pub Note: The grid interdependence and interconnects in the EU and UK are absolutely a disaster waiting to happen. The grid is country border agnostic and relies on physics and fiscal responsibility. Without sufficient […]
Highlights of the Podcast
00:00 – Intro
02:48 – Dutch government scales back offshore wind to preserve fisheries
04:33 – EU’s Green Dream Ignores U.S. Warnings And Falls Into China’s Geopolitical Grip
08:19 – Saipem wins $590m deal for work on Eni’s UK CCS project
10:05 – Republicans Are Scrapping Biden’s Green Agenda To Cut Energy And Consumer Costs
12:46 – Study Blames Oil Companies For Trillions In Damages To Bolster Climate Lawsuits
13:51 – Solar Power’s Overreliance Likely Culprit In Spain And Portugal Blackouts
16:45 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter
Stuart Turley: [00:00:00] The European officials are seemingly not very concerned about the possibility that the continent’s green energy agenda may be vulnerable to Chinese aggression in the future. I, for one, would not want Chinese, you’re just offloading your solar and your wind to be manufactured by Chinese equipment and there is lots of gear that they can control. There’s a reason. Yah way. Should not be in your phone system. There is a very big reason for this. [00:00:33][33.7]
[00:00:41] Hello, everybody. Welcome to the Energy Newsbeat podcast. My name’s Stu Turley, president and CEO of the Sandstone Group. This is the daily standup for April 30th. I hope you guys buckle up. We’ve got a lot of stories for you today. Let’s start with our first one. Dutch government scales back offshore wind to preserve fisheries. Sounds like a pretty good idea to me. The EU’s green dream ignores US warnings and falls into China’s geopolitical grip. This story actually has an underlying story to it that I’ve been talking to George McMillan about this. There’s a lot going on in that story. Next story. SAIPEM wins a $590 million deal for work on ENI’s UK CCS project. I mean, their net zero and carbon capture in storage is absolutely unbelievable. Republicans are scrapping Biden’s green agenda to cut energy and consumer costs. Pretty amazing there. And then when you take a look at a study blames oil for trillions and damages to bolster climate lawsuit the only people making money out of these climate lawsuits and lawfare are the attorneys i hate to tell you this really it might upset you folks that are putting these lawsuits out there but the consumers are going to get it in the drive thru is joe pesci would say. And the last one is the solar power over, uh, reliance likely culprit in Spain and Portugal, Portugal, uh blackouts and in even into France. This story is a huge story. Mike and I talked about it on yesterday’s show. I’m interviewing Robert Bryce and David Blackman, uh together on this on Thursday live on X as well as it’s just going to be a lot of fun. So that’ll be on the. Um, Thursday, the May 1st, we’re going to be going through this one, but I just want to give you a brief update on that. [00:02:48][126.8]
Stuart Turley: [00:02:48] So let’s start with a Dutch government scales back offshore wind to preserve fisheries. Uh, this is a pretty good story out of splash 24 seven.com. Uh, the Dutch government has reduced its offshore wind targets and remove one of the zones for offshore wind development to give more room to the the fishing sector. They’ve reduced it from 50 gigawatts to 21 gigawattes. Now, what is their energy mix here in the Dutch government and what they’ve got? 28% of their total electricity is in renewables. 28% wind, 19% solar. Biomass is 4.3. We’re not in an energy transition. We’re still burning wood. Uh, or dung in many parts of the world, billions of people still don’t have electricity, fossil fuels, which is natural gas, coal, and oil, which is, uh, oil and other fossil fuels is 1.2% coal is still 6.4% and natural gas is 35%. So when you take a look at their energy mix, They need to beef up their, they have nuclear at 2.8% they need to really beef up their nuclear and natural gas a little bit in order to maintain what, uh, don’t do what is going on in Spain and in the rest of the world, you’ve got to have the dispatchable or spinning power so that the turbines can spin up in order, to avoid a blackout. But anyway, I thought that was pretty interesting article. [00:04:33][104.8]
Stuart Turley: [00:04:34] Let’s go to the EU’s green dream ignores the US warnings and falls into China’s geopolitical grip. This story has an underlying story. That’s not talked about it. This is written at the daily caller. And when you take a look, it’s the article talks and says, uh, the European officials are seemingly not very concerned about the possibility that the continent’s green energy agenda may be vulnerable to Chinese aggression in the I for one would not want Chinese, you’re just offloading your solar and your wind to be manufactured by Chinese equipment and there is lots of gear that they can control. There’s a reason you should not be in your phone system. There is a very big reason for this. Um, it’s really not a surprise that Europe has a hard time understanding the need to pivot on energy and security and serious approach to sustainability. Steven Yates, a senior fellow for China and national security policy at the heritage foundation told the daily, uh, caller news foundation, how does increased dependency on the world’s leading polluting nation do anything for the planet, much less for their goals, whether we agree with them or not, what a great. I mean, they’re putting out more coal and the great wall of China does absolutely nothing for keeping all of their coal fumes and pollutants in China’s green energy giants. Meanwhile, been accused of engaging in unfair or predatory trade practices as well as benefiting from slave labor. You know, the green new deal is really coming to light and you’re finding out that the green New Deal is not sustainable. And the grid requires two things, physics and fiscal stability in order to run. Those two things cannot be, um, falsified or short change. If you falsify or shortchange the physics or fiscal responsibility, you will end up like what just happened in Spain, and we are going to see more of that around the world. What this is underlying is the EU as a trading block is losing power. The green new deal, the green new energy policies equals deindustrialization. And we are seeing that play out in real time. China gets wealthier, the rich get richer, and then the poor and the middle class get wiped out. And this is almost all about and could be all about control. So the EU is trying to control the population in the EU and the UK and Canada, I’m lumping all three of these groups in the same. What is gonna happen is the trading group and importance is going to slide to Asia more and more and India is the number one trading block in the world right now you’re gonna have India you’re going to have other areas of importance to trade with the EU is really should be waking up and going the green new deal. Regimes change when high prices and energy prices happen. We’re about to see not only regimes change, you’re going to see trading blocks lose their viability. [00:08:18][224.0]
Stuart Turley: [00:08:19] Let’s go here to Saipem wins $590 million deal work for ENI UK CCSCC project, carbon capture and storage project. The amount of money that the UK is spending in their energy policies to have the most expensive energy in Europe, second only to, I believe, Germany and a few others. The Italian offshore engineering and consulting giant SIPAM has won a contract for ENI for work in the Liverpool Bay CCS project in the UK. The value of the contract is about 520 pounds. Uh or 592 million over three years to put in a carbon capture pipeline this comes in the last after less than a week than after eni reached the financial clause with the uk government department of energy security and net zero net zero and uh the illegal imports are going to be just some of the key downfalls for the uk and i am really sorry for all of the Great UK folks that are out there. You’ve got some real problems coming around the corner. This is just another example of, uh, carbon capture. Why you really don’t need to look at the carbon capture per se. It is the particulate matter that is put out by the energy plants. Look to commute to control that. Canada is one of the biggest natural green areas on the planet and look at the forest they’re actually net zero without having to do anything but I guess people can’t recognize that. [00:10:05][105.7]
Stuart Turley: [00:10:05] But before I get into these next two couple stories I want to give a shout out to Steve Reese and the gang over there at Reese Energy Consulting. Steve is just an absolutely class act and when you’re Looking at oil and gas. If you’re looking at a data center and you’re saying, Hey, so where do I build a data center? You need to reach out to a Reese energy consulting.com and make sure that you say, wait a minute, where’s my natural gas? How do I put in a micro grid? Where am I going to put it? How am I gonna power this thing? Or do I have natural gas to sell? Do I have oil to sell, do I need to buy? Natural gas. Do I need to buy LNG? Steve can actually get the molecules from the Hanesville all the way to Germany and he knows everybody in between. So with that, like, subscribe and share, but also reach out to Steve Reese on LinkedIn. And I’ve got so many more great podcasts coming up with him and other CEOs, energy CEOs. [00:11:09][64.2]
Stuart Turley: [00:11:10] Republicans are scaping Biden’s green energy agenda to cut energy and consumer costs. I have to hand it. We have Doug Burgum, Chris Wright, and Lee Zeldin, and I applaud President Trump for letting these guys just run and run after this. The next rules include an environmental protection agency rule. Imposing a methane emission fee on oil and gas facilities that Republicans say is stymied domestic energy production. Yes, it has. Requirement that new oil and gas leaseholders on the outer continental shelf submit an archeological geological report before they can begin offshore drilling production. And again, the Biden administration is hypocritical when it comes to taking care of the environment versus their green policy. Two energy department rules requiring a higher efficiency standards for gas-fired water heaters and walk-in coolers and freezers. They were about to absolutely take all of your choice of whether or not you want to be a cook with natural gas or do you want a cook on a stove, do you wanna have access to low-cost eat or do you want to use a high-end coal? Or heating oil. You need to be able to let the markets decide. Anyway, this is an outstanding article and this was from the Washington Times. [00:12:46][95.8]
Stuart Turley: [00:12:47] The law fair that’s going on this next story study blames oil companies for trillions of dollars in damages to bolster climate lawsuits. A Dartmouth study claims fossil fuels cost $28 trillion in damages. Supporters say attribution science, uh, serves only climate climate lawsuit agendas, which I agree a CBS news report makes no mention of the DC court recently sanctioned man in his liable suit against two bloggers saying he acted in bad faith when they presented erroneous evidence and made false representations to the jury and the court. You know, we’ve got to be factual. A, when you’re in a lawsuit against somebody, be factual, but when you’ve got costing people their jobs, their lives, the only people in all of this lawfare that are making money are the attorneys. It’s just absolutely pathetic and we’ve seen unbelievable litigation going on around the world. [00:13:51][64.1]
Stuart Turley: [00:13:52] The last story here is still just an power over reliant. Likely culprit in Spain and Portugal’s blackout. I got to give Heavy Arblas, he is one cool cat Bloomberg author and in his ex post in press conference now, Spain’s prime minister says the country lost 15 gigawatts of power supply in five seconds Madrid time. He says the government doesn’t know why so much electricity was peeled off. 60% of the lost so suddenly. But Mark Nelson on X, Spain blackouts an anonymous expert view from a deep group chat last night translated from Spanish. What’s happened on April 28th was a well-located origin corridor was also hinting that as this spun off it may have been, may have been and we’ll find out soon, a cyber attack on some of the SCADA equipment causing these trips. Now, when you take a look at this, Javier was also on this as well, that about, uh, 60% of the power grid was in jeopardy because they did not have enough spinning or inertia based, uh power, which is spinning from coal, natural gas, uh heat and those kinds of things. So when you put one windmill on a grid. The grid needs to, I’ve said this a long time, the grid requires two things. It requires stability through physics. It has to obey the law of physics and have fiscal responsibility. If it doesn’t have physics and apply to the law physics and it has a fiscal responsibility grid. Failure will happen. You can’t print money and just keep putting in subsidies. It means your energy is going to be too high priced. If physics don’t apply, the load balancing authority in Spain And Belgium actually failed because of the way that they were trying to balance this out and this is becoming a huge wake up call if you’re in New York, Delaware, uh, California, and you’re, and some of the other areas where you’re don’t have a balancing authority or you have, uh coal, natural gas, nuclear base load capacities, you are going to have some And so this is a very, very big deal. And I’m thrilled to be interviewing David Blackman, as well as Robert Bryce, this Thursday live on LinkedIn and YouTube. [00:16:44][172.0]
Stuart Turley: [00:16:45] So with that, like subscribe, reach out to Steve Reese and the gang over there at Reese energy consulting.com. And again, thank you all very much. We are so appreciative for just the huge amount of volume reading on energy newsbeat.com as well as the energy news, beat.substack.com. Also, if you want to know, uh, you know, what are you, how does your portfolio look like, are you investing in things, fill out our investment survey. And, uh we’ll send you over to the team there and let them let you visit with them as well to at least let you know how we’re doing it. Like, subscribe, share, and look forward to speaking to you all soon. Have an absolutely wonderful day. [00:16:45][0.0][991.1]
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