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Daily Standup Top Stories
New York to Force Oil, Gas Companies to Pay Reparations for ‘Climate Change’ Damage
December 27, 2024 Clark Savage
ENB Pub Note: This is true madness. I will get the bill and cover it on my podcast – this will do nothing for the climate but will hurt New York Consumers. She (Gov Hochul) […]
US could buy Nord Stream – Vucic
December 27, 2024 Mariel Alumit
The Serbian president has made the prediction following recent reports about an American investor’s bid for the pipeline The sabotaged Nord Stream 2 gas pipeline could become US property in a year, and gas supplies […]
Ukraine-Russia Gas Transit Deal At Critical Moment of Truth
December 29, 2024 Clark Savage
A deal allowing Russian gas to transit to EU ends on Dec. 31 Slovakia is stepping up pressure for flows to continue The future of gas transit through Ukraine is at a turning point. If […]
Oil Demand Stays Strong Despite EV Surge
December 29, 2024 Clark Savage
Despite record-breaking EV sales in China and Norway, global oil demand remains strong. While China’s EV market surges, its oil demand continues to grow modestly, but India is emerging as the primary driver of global […]
Sanctioned Russian LNG Cargo Stranded at Sea
December 28, 2024 Clark Savage
The LNG carrier Pioneer, carrying sanctioned Russian LNG, was unable to find a buyer after a four-month global search. The ship was forced to return to the Koryak floating storage unit in Kamchatka, where the […]
Gazprom to cut off European state on January 1
December 28, 2024 Mariel Alumit
Russian energy giant Gazprom announced on Saturday it will halt natural gas supplies to Moldova from January 1, citing the country’s refusal to pay debts. Moldova, a former Soviet state that relies heavily on Russian […]
Highlights of the Podcast
00:00 – Intro
01:17 – New York to Force Oil, Gas Companies to Pay Reparations for ‘Climate Change’ Damage
03:53 – US could buy Nord Stream – Vucic
05:47 – Ukraine-Russia Gas Transit Deal At Critical Moment of Truth
07:37 – Oil Demand Stays Strong Despite EV Surge
09:54 – Sanctioned Russian LNG Cargo Stranded at Sea
10:31 – Gazprom to cut off European state on January 1
11:21 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:09] No. Everybody welcome the Energy News Beat Podcast my name’s Stu Turley, president and CEO of Sandstone Group. Today is the daily standard for December 30th. Holy smokes, 2024 is almost out here. Let’s go through the stories for today. New York to force oil, gas companies to pay reparations for climate change damage. This is from Governor Hochul. You can’t buy this kind of stupid use. Good bye, Nord Stream. This is from volcanic. This is kind of interesting. I did not have this one on my bingo card. Ukraine Russia gas transit deal at a critical moment. This is very interesting. Oil demand says strong despite a heavy surge. This is from Irene Aslam on Oilprice.com. Sanctioned Russian LNG cargoes stranded at sea. That plays a part here, Gazprom to cut off European state January 1st. I’ll tell you what, we are in a energy crisis in the EU. [00:01:16][66.8]
Stuart Turley: [00:01:17] But let’s start with our beloved incompetent governor, Governor Hochul, New York to force oil and gas companies to pay reparations for climate change damage. This is absolute madness. The article says large fossil fuel companies will have to hand over punitive reparations to help New York fight the effects of climate change. Under a bill signed Thursday by Governor Kathy Hochul, lawmakers approved the bill earlier this year to force big oil and gas companies to contribute cost of repairs after extreme weather events critics attribute to directly fossil fuel companies in their wares. The Climate Change Superfund Act is now law. New York has fired a shot that will be heard around the world. Yes, it’s going to be heard around the world. How dumb is New York? The planet’s largest climate producer bears a unique responsibility for creating the climate crisis, and they must pay their fair share to help regular New Yorkers deal with the consequences, Krueger further warned. This is absolutely pathetic. I want to go out on record, and if I was an oil and gas company executive and I would just pull all of my products out of New York, if I was ExxonMobil, if I was any gas company, if I was any company in New York, oil and gas, I would pull out. Now, just shut your doors and pull out of the entire state. There is no reason for you to be subjugated this way. Now, what would that do to the patrons in New York? New York would not have transportation. They would not have oil. They would not have gas. Their natural gas could be shut down as well. I guarantee any major oil company I would pull out of New York. This is absolute lunacy. I reached out to several of the folks that were involved with the bill and I want them on the podcast. So far, I have not been heard back to hear their side of it. Let me throw this right now and this is very important from the standpoint that if we are worried about climate change, Governor Holcomb, why don’t you ban canned trails? Why don’t you go take a look at what geo engineering is going on that is more harmful to the environment than is fossil fuels. I’ll go on record and say that. [00:03:53][156.1]
Stuart Turley: [00:03:53] Let’s go to the next one here. You ask could buy Nord Stream. This is a volcano. I absolutely did not have this on my bingo card. I dared to predict in a year the latest Nord Stream in the year at the latest Nord Stream will be owned by an American investor and gas will flow from Russia to Europe through the pipeline, the Serbian leader said. Mark my words, one year until Nord Stream is up and running. Now remember, there are three Nord Stream pipelines that were destroyed. One of them is still there is Nord Stream one and two. Each one has two. Pipeline, one of the four pipelines is still operational. That one could come online very quickly. So if an American company was to buy this, you would immediately be able to turn on with contracts, cheap Russian natural gas to go to Germany at the landing spot on this, to go through the Baltic, you’d have cash flow, you’d be able to get it rolling and then they would be able to fund. It’s not a bad deal. Now, here’s where it gets a little bit dicey. I just interviewed George Macmillan. We’ve got two more episodes canned and they’re in production now. And we talked about this. So. There are very large sediments around the world and about you as citizens don’t really understand what the EU or the rest of the world thinks about the United States play for energy dominance. Well, let me say that clearly the United States citizens do not understand what the rest of the world thinks about our particular moves on this. And I don’t know that I would trust the United States government in its current form as a trading partner. So I cannot wait for the new administration to come in. [00:05:47][113.9]
Stuart Turley: [00:05:47] Ukraine. Russia Gas Transit Deal at a Critical Moment of truth. This one is very critical when you sit back and take a look. If this is going to cost the Ukraine 5% of their GDP by not renewing this, by not renewing this deal, it is also going to subjugate Ukraine into a third and as George Macmillan said, for world energy status. What that means is instead of being able to make money off of natural gas coming through Russian natural gas in its 5% of their GDP, that’s a lot of money. And so now they’re going to have to beg for energy to come in and say, can I please have downside of your natural gas, your imports of your LNG? If it is, let’s take natural gas, it say $3 versus $30. There is a significant price difference between LNG and cheap Russian natural gas. It’s going to devastate the Ukrainian people again. President Zelensky is not watching out for the citizens of Ukraine, which is not surprising. So this deal is absolutely a heartbreaker. I made a mistake in my prediction. I thought that it would have been signed already. So it’s not because people are not asking for it, because now the Slavic countries are now having to figure out how they’re going to either get it or flow back through or it is a real mess. I projected this would be signed already, but we’ll keep you posted on that. [00:07:37][109.6]
[00:07:37] Let’s go to the next story here. This one is from Arina Slob. Over at Oilprice.com. I absolutely love Irene as she is a class act. Oil demand stays strong despite EV surge, despite record breaking EV sales in China and Norway. Global oil demand remains strong, while China in every market surges, its oil demand continues to grow modestly. But India emerges as the primary driver of global oil demand. On the new TV show Hit Man, lead character Tommy Enormous delivers a five minute speech that summarizes our critical modern civilization full of crude oil. Is everything up to including wind turbines Depends on oil. This year, with record EV sales in China continued to build out wind and solar, and Europe has proven just how pertinent that speech is to the rest of the energy translation. About a month ago, the World Bank predicted in a blog post that crude oil demand would hit 103 million barrels by 2024. What the World Bank noted was this number represented a slowing demand. What the World Bank did not mention with the number also represented another all time high for oil demand. Michael and I have been talking about this for years. Just because you put in a wind farm and a solar farm does absolutely nothing or you put any these, it does not affect the demand for oil. The demand for oil has been at an all time high. The demand for coal has been at an all time high. That goes into my theory. The more money we put into wind and solar, the more fossil fuels will be used. We are seeing this play out. Call it Turley’s law, if you will, but we are saying that this is going to roll out even more. Hats off to Irina for a great article and the oil demand shift factor. For years, everyone has been focusing on China, yet now China’s oil demand is slacking off. But now India’s has picked up. So you sit back and take a look. I believe oil will find a way. What could be a play off of the old dinosaur movie Life will find a way. [00:09:53][136.3]
Stuart Turley: [00:09:54] Sanctioned Russian LNG cargoes stranded at sea. The LNG carrier pioneer carrying sanctioned Russian LNG was unable to find a buyer after a four month global search. The shadow fleet. LNG carriers transported, blacklisted and Russian LNG has encountered a major setback though. Just go past this thing and hold it as storage until they sell it. The world needs energy, and I just think it’s kind of funny that this ship has been on a four month cruise or they went on a three hour cruise. This is almost the minnow. And in happening,. [00:10:30][36.3]
Stuart Turley: [00:10:31] Let’s go to the last story here. Gazprom to cut off European state January 1st, Russian energy Gazprom announced Saturday it will halt natural gas supplies to Moldova January 1st, citing the country’s refusal to pay its debt. Moldova, the former Soviet state, relies heavily on Russian gas, has racked up an estimated 709 million in debt in overdue payments, according to Gazprom. This is bad despite its early agreements offering relatively low prices. Tensions began to surface as gas costs increased by 27, Moldova was paying a sharp increase. I sure hope they get this fixed out because we sure don’t want anybody not being able to heat their homes during winter, especially in that in that part of the world. [00:11:21][49.9]
Stuart Turley: [00:11:21] So I’ll tell you what, as we come into this, we’re getting our predictions ready for 2025. If you have any thoughts, let us know if you are looking for ways of investing money and looking for a tax deduction, go to the energy news. Me eco forward slash and that’s at the top of it. Go to the menu is your portfolio. Okay, Fill out that form and we’ll get back to you with what we have found is to be an excellent investing mechanism. We’ve had 98% tax deduction on the investment and it is about a 32% return on my investment. I kind of like it. Thanks and have a great day. Michael will be back more. [00:11:21][0.0]
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