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Oh Canada

What is going on with Canada and Energy? There are so many things facing Canadians that it is a podcast worthy of discussion from the Energy Realities Team. You do not want to miss Tammy Nemeth, Irina Slav, David Blackmon, and Stu Turley as we have fun talking about the global energy market. We are live Monday Morning at 8:00 Central from Texas, Bulgaria, Canada, and or the UK.

Highlights of the Podcast

00:11 – Episode Introduction

02:01 – U.S.-Canada Trade Relationship

07:23 – Internal Canadian Trade Barriers

10:01 – U.S. Dependence on Canadian Oil

16:08 – U.S. Tariffs & Global Trade Realignment

23:16 – Security Concerns at Canadian Ports

32:00 – Norway’s Government Collapses Over EU Net-Zero Energy Policies Dispute.

35:00 – Tenth of farmland to be axed for net zero

38:34 – Ballyhooed California Solar Plant Bankrupt After Just 11 Years

40:46 – Energy Lawfare is the Last Arrow in the Democrat Quiver

41:47 – The Offshore Wind Industry is Dying a Painful, Long-Overdue Death

44:55 – Exxon foe Engine No. 1 to build fossil fuel plants with Chevron

46:56 – Global Investment in the Energy Transition Exceeded $2 Trillion for the First Time in 2024, According to BloombergNEF Report

49:57 – Panama to scrap infrastructure deal with China

51:35 – Zelensky has no idea where most of $200 billion in US aid went

52:05 – USAID tried to block DOGE audit

58:49 – Trump’s Strategy & Future of Global Trade

Irina Slav

International Author writing about energy, mining, and geopolitical issues. Bulgaria

David Blackmon

Principal at DB Energy Advisors, energy author, and podcast host.Principal at DB Energy Advisors, energy author, and podcast host.

Tammy Nemeth

Energy Consulting Specialist

Stuart Turley

President, and CEO, Sandstone Group, Podcast Host

Oh Canada

Stuart Turley [00:00:11] Hello, everybody. Welcome to the Energy Realities Podcast. Oh Canada Edition. I’ll tell you what. This is an exciting day. We are joined with the David Blackmon. David Blackmon is a substack author, contributing author for Forbes The Daily Caller. He’s all over the planet. His arms are very tired. He’s in Texas. How are you today, David?

David Blackmon [00:00:38] I’m great. I’m great. It’s a beautiful day in Mansfield, Texas. I can’t get couldn’t be happier.

Stuart Turley [00:00:46] Well. Okay. Thanks for that. Very nice, Texas. And next, we have Irina Slav from Bulgaria. And she is one of the greatest energy authors is out there. Author assists. Is that a word or is that the right word?

Irina Slav [00:01:03] You made it up Stu.

Stuart Turley [00:01:07] Anyway, how are you today in Bulgaria?

Irina Slav [00:01:10] I’m great, thank you Stu. Spring it on. I’m really happy. Just like David

Stuart Turley [00:01:17] My goodness. As you guys set me up for a hosting extraordinary today. And then we have Tammy Nemeth from Canada, and our show is Oh Canada. Tammy how are you today?

Tammy Nemeth [00:01:32] I’m doing great. Thank you. And I’m surviving the subzero temperatures because I’m visiting Canada right now and I’m all bundled up and I’m trying to keep warm.

David Blackmon [00:01:43] And wonders how cold it is in Calgary today. Tammy.

Tammy Nemeth [00:01:48] I heard it was -28, -30. So it’s it’s cold.

Irina Slav [00:01:56] That’s Celsius, right?

Tammy Nemeth [00:01:58] That’s Celsius. Sorry. Yeah, that’s Celsius.

Stuart Turley [00:02:01] Wow. But there’s a bunch of talk going on right now between President Trump, Trudeau in Mexico and the rest of the world in in tariffs and what’s going on. And most Americans are quite honestly stupid. And I’m going to say that very on honestly about what we get from the rest of the world and our place in the world. And quite honestly, I think one of the greatest Canadian exports is the McKenzie Brothers, the Great White North. And how many people remember this? I just want to go ahead and kick this off and start.

Video Speaker 1 [00:02:49] As you can tell by my brother doing both parts of our theme. We got our old show back. Yeah. Two minutes, beauty. So very. Yeah. And.

Video Speaker 2 [00:02:59] Perhaps the time. Let’s give him a minute to go to the fridge and get some refreshments.

Video Speaker 1 [00:03:05] Okay. Go away.

Video Speaker 2 [00:03:06] Yeah, we’ll be right here. Okay, well, in fact, we’ll just like.

Video Speaker 1 [00:03:09] Zoom off.

Stuart Turley [00:03:10] Zoom off.

Video Speaker 1 [00:03:12] get away. Okay. We’re not on. So go to the fridge. Yeah, go to the fridge.

Video Speaker 2 [00:03:17] Okay, stop. Okay. If you have to go upstairs, use the ladder.

Stuart Turley [00:03:23] Okay. Those guys are classics. I absolutely love that. But I don’t think people really understand how important Canada’s trade is for the US. And you take a look at. I thought I had it here and I didn’t bring in bring in the slide. I apologize, but we have a lot of things that we trade with. But when you take a look at GDP in trade for Canada, the trade with the US is what, 2% of the GDP. And Canada has less than our GDP in the US, but it’s up to 20% in Canada, if I understand that correctly.

Tammy Nemeth [00:04:07] I don’t know the precise numbers, but it’s against I mean, that over 70% of our trade takes place with the United States. And over the past, I would say 40 years, since they did the first free trade agreement, it was all about integrating the North American market and integrating the Canadian US economy a lot for geographic reasons. Stuff actually, it’s easier to transport stuff south from, say, Saskatchewan, Alberta, British Columbia or even Ontario down to the Eastern seaboard than it is to go across Canada. And so the trade naturally has sort of developed that way. And then it’s been encouraged over the past 40 years to have that level of integration. And, you know, I understand Trump’s concern with respect to border issues. Fentanyl, I would say over the past ten years or so, there’s really been a diminishment of Canadian security with respect to the ports in particular. And I would say an increase of Chinese gang activity and other sort of cartels operating within Canada, that is a concern. And yes, Canada has not been doing all its part, especially with respect to protecting the border, protecting the ports and keeping its defense up to speed. I would say for the past 50 years, Canada has been relying overwhelmingly on the defense umbrella of the United States. So there was a time when we were a real partner, a real good neighbor. We were well respected in the defense field. And I don’t think that’s the case anymore. Our equipment is old when we participate in an international sort of coalition, like even the first Gulf War in Afghanistan and so on. It’s it’s almost an embarrassment. And the troops feel really awful because they’re quite well-trained, but they have really terrible equipment. From what I understand, there’s only two operational Hercules aircraft for search and rescue in Canada for the whole country, two aircraft. And they’re cannibalizing other aircraft because those two are always breaking down. So, you know, there there’s all of these different issues. And I understand Trump’s frustration, however, when he keeps talking about this trade disparity. Actually, if you remove oil out of the equation, we we import way more from the United States than we export. So it’s actually a huge trade deficit the other way. But part of the reason why so much oil goes out to the United States is because the Midwest refiners are designed specifically to take Canadian crude, which has built up over the past 50, 60 years in that in that trade trade system. So it I don’t agree with his economic position as much as I agree with what he his criticisms about the border and our terrible defense commitments.

Irina Slav [00:07:23] You know. You read I watched the video by Canadian guy explaining the potential impact of the tariffs on Canada. And he said that trade with the US is makes up a really, really big chunk of GDP. But more importantly, what I find really interesting is that each province of Canada trades more with the U.S. than the other.

Tammy Nemeth [00:07:51] Yeah. Whereas there there, there’s all these internal trade barriers in Canada, and it’s almost like each province has walls. And the Supreme Court has ruled in favor of killing those trade barriers. It’s ridiculous. So, for example, there was a case where I think it was someone in New Brunswick or somewhere in the Maritimes bought beer where it was cheaper in another province and tried to cross the border, got arrested because they were moving alcohol from one province to the other. And the Supreme Court ruled that that was wrong because it was undermining the the reduced or the higher alcohol prices in this other province. So when you have this collective ridiculousness and I’m sure it was the beer, you know, trying to get cheaper beer from a different jurisdiction and Well, and the Supreme Court ruled, you can’t do that. So this is a problem.

Irina Slav [00:08:50] And and it sounds like and.

Tammy Nemeth [00:08:53] I don’t know. Yeah, I don’t know how they fix anything. Pierre Polya has just come out with a proposal to try and lower those internal trade barriers.

Irina Slav [00:09:03] That sounds like a good idea. It sounds like an idea. Does that make sense?

Stuart Turley [00:09:08] Yes. Your your comment Irina is is fantastic. The U.S. imports oil from 15% from OPEC, 7.1% from Mexico, 5.9 from others, 10.9 from South America. But 61% of our oil comes in from Canada. The heavy oil sands, which is the Canadians, do a phenomenal job of clean energy production. And I have to give all the NPR operators in Canada a shout out because they are phenomenal. And I’m sorry, I don’t mean to be too huggy on them right now, but boy, they are fantastic. I love all my operators up there.

Tammy Nemeth [00:10:01] Yeah, you know, I think there’s a bit of frustration that, you know, on the one hand, we were encouraged and we encouraged ourselves to to go into the American market, to have this integrated sort of North American energy corridor. And then now it’s like the door being slammed shut on this. And and they hit us with even more penalties because that oil is already delivered to the Midwest at a discount. And now it’s another 25% or 10%.

Stuart Turley [00:10:26] And now this. I have to give in. And I asked a shout out from X, These these are his slides and his information. This is Canadian X imports. They they bring in 52.9% from the United States. Nigeria is 11.2, Netherlands 4.4, Angola, 3.7, the U.K. 3.5 Egypt. I didn’t see this on my bingo card, so I’m glad I got it.

David Blackmon [00:11:02] They’re importing oil from the UK.

Stuart Turley [00:11:05] Yeah, go figure that out. Sure. There’s there’s two oil.

Irina Slav [00:11:12] Probably.

Stuart Turley [00:11:13] In Sherwood Forest that we had to go do in World War Two. It’s still operating. It’s here is each trading partners

Tammy Nemeth [00:11:26] Trading partner. Yeah.

Irina Slav [00:11:29] Whoa.

David Blackmon [00:11:31] Yeah.

Tammy Nemeth [00:11:32] Yeah.

Stuart Turley [00:11:33] This is interesting. Take a look at Texas, Mexico, Arizona, all of the all the four down southern. You know, Texas and California are huge in our GDP. But then go take a look at China is the biggest trading partner up in Washington and Oregon.

Irina Slav [00:11:57] And it’s not so much.

Stuart Turley [00:11:59] Being that would be Las Vegas. So they must be doing a lot of money laundering, I’m guessing.

Tammy Nemeth [00:12:08] My gosh.

David Blackmon [00:12:10] That’s fascinating. Switzerland.

Stuart Turley [00:12:13] Switzerland and in the US, we from Nevada in Las Vegas in money laundering. So I don’t know. And then Hong Kong for that. But take a look. Canada is significant to a gigantic chunk of the U.S. and we’ll look at China and Louisiana down there. Yeah, they just do things differently in Louisiana

Tammy Nemeth [00:12:41] And Brazil. and Florida. That’s interesting.

Irina Slav [00:12:43] Very.

Stuart Turley [00:12:45] This was some pretty this is from the US, the biggest trading partners. And I thought it was very interesting. And then look at Canadian and France up there, Belgium and Canada. And you take a look up. This is an unbelievable mindset change in who is actually who are we trading with?

Tammy Nemeth [00:13:07] Yeah. Yeah, a lot of Americans don’t understand how much they trade with Canada and receive things from Canada. I mean, it’s it’s it’s really interesting. I put into our chat there, Stu, the list of products that Canada has put tariffs, retaliatory tariffs on, which will kick in tomorrow. Okay. But you know, a lot of it’s food because we import a lot of food from the United States. And so it’s like Justin Trudeau. Food prices are really high, but let’s put some tariffs on.

Irina Slav [00:13:42] let’s make them higher.

Tammy Nemeth [00:13:44] Let’s make them higher. But he says he’s going to give all that money back to the people or something.

Irina Slav [00:13:49] Yeah.

Stuart Turley [00:13:50] Now, I.

Irina Slav [00:13:51] Believe the carbon tax is right.

Tammy Nemeth [00:13:53] Right. Right.

Stuart Turley [00:13:54] I do want to say this. Most people think that President Trump is coming out and saying that we’re going to start all this tariff war and that it’s not a it’s a one sided thing. When you take a look at what Canada tariffs, the United States and what the U. What the U.K., I mean, excuse me, the UK and the EU tariff. The United States. And they don’t import. This is called rightsizing. And what President Trump, in my opinion, is doing. But this is exacerbated by the problem of our own federal government. And I’m going to talk about a little bit in one of the discussions later, and that is what DOJ’s found out about our financial system. And it is absolutely horrific. Now, there are there’s 270% tariffs on dairy products from Canada to the from the U.S. to Canada. So it is an unbelievable amount of tariffs that Canada already has on our products. And this is not a by the way, President Trump woke up one morning, did his hair. I’m just jealous because he has hair and, you know, and then all of a sudden he did his hair and goes, wait a minute, I’m going to put tariffs everywhere. He’s also created the external ire, the External Revenue Service, and he’s looking at getting rid of tax on seniors and he’s getting looking at resizing everything. But when you look at how much money was stolen out of the Fed and then out of the Treasury, the two different organizations, this is a huge amount of money that was stolen from the American people.

Irina Slav [00:15:51] I mentioned this that I’m really, really grateful to this administration for shutting down U.S.. It was the media outlets are in full freak out mode and so, so happy.

David Blackmon [00:16:08] And that that outrage in the media shows you exactly how extensive the CIA’s influence in our media really is. Because USA is a front for the CIA, it’s all it is. And it’s $50 billion of the federal budget. And I hope they shut it down. They haven’t shut it down yet. They’re just talking about moving it under direct supervision of the State Department. And I’m not sure what that solves.

Irina Slav [00:16:34] Yeah, but they do this 90 days or so.

David Blackmon [00:16:37] Of the CIA to.

Stuart Turley [00:16:39] The way this is. This is me realizing I need to share this one right here. I may get to this point if you sit back and realize, wait a minute, how bad was the theft? Let’s say Burisma and the US aid actually funded oil wells and Ukraine and all the deals for Hunter Biden was out of this. This is me waking up in the morning.

Stuart Turley [00:17:07] Okay. You’re sitting there and the little girls that I don’t sleep in. Okay, Now watch this. This is the media waking up this morning and realizing that we’re finding out what a crime scene our government is. And this is the same crime scene that we found in X when Elon bought X, all of a sudden there’s another crime scene. Now we’re realizing that our own government is a worse crime scene going on.

David Blackmon [00:17:43] Yeah. So I want everybody to understand that this is not some sideshow for for the Trump administration. The tariffs, the rebalancing of tariffs policy with with not just Canada and Mexico and China, but Europe as well, goes all the way back to the post-World War two agreements that set the United States up as the. Global policeman to ensure the free flow of trade in our sea lanes, which the United States agreed to under the Marshall Plan, as well as the chief funder of the recovery efforts in Europe from the war and Europe and Japan both. I mean, they have been completely ravaged by the World War in a way that the United States did not suffer because it was never invaded and our economy had grown so large at that point that it was thought internationally that United States consumers could basically, you know, bear the cost of all this. And and they have and it has. It’s actually been a very successful thing. But that was 75 years ago now. And Trump’s goal is going to be to rebalance trade tariff policy with every country. And so this is not something there’s a lot of speculation right now. And I hear very smart people like Mark Halperin saying that, you know, Trump doesn’t really mean this. These tariffs are just temporary. As soon as these governments, you know, make some token gesture, he’s going to back off and pull them. I don’t think that’s the case. I don’t think that’s the case. I mean, as is Tammi pointed out, over the weekend, Justin Trudeau’s already made a token gesture, $1.5 billion of increased border security spending that, you know, I mean, it’s out there that offers out there. Haven’t seen a lot of action yet, but it’s only been a few weeks. You know, that’s that’s not going to cause Trump to wake up tomorrow after the Dow crashes a thousand points today or whatever’s going to happen. He’s not going to wake up tomorrow and say, well, you know, I’m going to take this tariff off of Canada because Trudeau committed this extra billion and a half dollars. This is going to be. An ongoing thing throughout the next four years. And so people in the United States need to get ready. For incurring a lot of bad will and all these other countries over the rebalancing of these tariffs. NATO, which Canada is a part of the United States is a part of. And, you know, there’s going to be a complete rejiggering of the agreements with NATO and all these international alliances that the U.S. is the chief funder of and has been for a long time. Trump is very intent on rebalancing All that doesn’t mean the United States is necessarily going to pull out. But we’re not going to fund 70% of NATO’s anymore.

Irina Slav [00:20:52] you say? Because is calling for war again. We have 3 to 5 years to prepare for war. Really?

Tammy Nemeth [00:21:01] No. With you now?

David Blackmon [00:21:03] With whom?

David Blackmon [00:21:05] Reason. You know, if we weren’t funding this proxy war with Russia, there would be zero reason for NATO’s to even exist. Okay. No reason.

Irina Slav [00:21:15] Zero reason. For example, the whole Trump will deal with that, too.

David Blackmon [00:21:20] Because that would create a lot of bad will. And yes, Tammy knows we’re causing a revitalization of Liberal Party in Canada. And it means the likelihood the Canadian elections are just probably going to end up reinforcing the Liberal Party for another five years or whatever it is. And so it’s there’s going to be a lot of unintended consequences to all this. But this is not some deal where Trump woke up Saturday morning and said, yeah, I’m going to impose these tariffs for a few days, see what happens. This is a long term strategy and people had better still themselves for for what’s to come because there’s going to be, you know, impacts in the stock market as we’re going to see today. So.

Stuart Turley [00:22:05] You know, we also have to remember that Canada is very important to the Nord Stream pipelines, that the turbines that were made in Canada because the Mackenzie brothers were very important when they said that Russia can Canadian space arm was very important, you know, so that you could drink a beer in space, you know. But the Canadians and you know honestly that I didn’t like that Canadian whiskey. But the Canadians importance to Nord Stream was very important in those turbines that they have. The Canadian technology and exports around the world are very important as well too. So, you know, as we’re talking about this, we’re also talking about the end of the Ukraine war coming up. This is from Gail Campbell. Anders, Fentanyl is a problem and candidacy willful blindness by investigative journalist Sam Cooper. His work is supported by Mark Code’s code is previously a short selling hedge fund manager. She also subject the bureau. Well done.

Tammy Nemeth [00:23:16] He’s the only one as an investigative journalist in Canada, exposing the Chinese links to the fentanyl. And and we just had this inquiry in the Canadian parliament about foreign interference, particularly China, in their interference with at least 50 sitting employees and how they go in and throw their influence around in different ridings and stuff like that. And he’s the only one who’s really been digging into that. And what are those networks and what’s that influence? And and I have to say the outcome of that inquiry is rather a joke. And and I’m not surprised. But like I said, there’s there are significant issues with our port. I heard the other day from a reputable source that Canada hasn’t had a a dedicated port security force in Vancouver since 1997. They’ve been relying upon the Canadian border agency to be monitoring all this stuff. And there’s some indication CCS has been that’s our security services has been warning that some of those agents have been significantly compromised. And in a year, they they inspect less than 1% of the Canadian containers going into the Vancouver port. So there’s serious issues there. And and a lot of the fact that’s where the fentanyl is coming in, especially through the Vancouver port, and then it gets filtered through different jurisdictions in Canada. Alberta has been trying to crack down on the different fentanyl houses or where they’re making it and whatnot. And they found, I think it was last week at a really large a large stash, I suppose, of the different chemicals that they use to make the fentanyl. So it’s a it’s a problem. And you know, maybe this is a bit of a kick in the pants for the. Some forms of Canadian government to step in and try to get a grip on this. But I agree with David that this is a long term thing.

Irina Slav [00:25:32] Do you think, however, that David lays out well, laid out one scenario for the next elections, but do you think it’s possible that all these the Tories defense and the crisis and what you’re talking about, Tommy, could galvanize people to not vote for Trudeau and McCartney, but rather vote for the others who did not screw up everything in a matter of years. Because people do live in Canada, they see who is responsible for the state the country is in. Do you think that’s a

Tammy Nemeth [00:26:08] I don’t know. It all depends on how that campaign unfolds, because, you know, whenever there’s a leadership review of a party in Canada, that leader will get a bump. And so right now, all eyes are on Mark Carney. He’s getting coverage like you wouldn’t believe. Like everything he says that the media reports it. The other contenders never get covered. Chrystia Freeland, who is still an MP, he’s jetting around doing stuff and she barely gets a mention. But, you know, on Friday, Mark Carney released his climate plan, which is the same as the current plan, but faster. So, you know, he wants a carbon border adjustment mechanism for Canada. He wants mandatory climate disclosures for all businesses starting like yesterday. And instead of a carbon tax, they’re going to increase the tax on corporations and then tell them, please don’t pass this on to consumers. Yeah. You know, I mean, yeah, we have, you know, this if I could read Gail’s comment here, this is absolutely right. Canada has a proud history of pulling our weight and more with our military, which has been so respected at many pivotal point in history. And many Canadians are dismayed at the way Canada has not contributed more to Naito. And if I could add to that. Or Canada’s clergy. We should be contributing about 44 billion to defense. And Canada’s defense budget is 26 billion. To put that into context, Trudeau says, We don’t have enough money, and by 2032, we might get up to that 2% threshold. A rough estimate suggests that Canada has put forward over 200 200 billion towards climate initiatives. So what’s your priority? You’re being told you should do more for Naito. You need to pull your weight. You need to have equipment that actually works and can communicate with other native equipment when you’re on a on a maneuver, which we can’t do because our stuff is so old. But instead of investing in that, they’re throwing money left, right and center to all these different climate initiatives. So our government, the Canadian government, has the most bizarre priorities. Our priority is climate, climate, climate. And then at the bottom are Canadian citizens and and defense.

Stuart Turley [00:28:45] You know, that’s the same same thing that we’d been facing in the United States. And I’m not sure about the U.S is there. And I feel like when I’m talking on our podcast, all of our podcasts and substack are incredibly successful and I want to give a shout out to all of our substack. But when I’m speaking to folks and this is what I think, either it’s me talking in my wife is this is it. But I think this is us talking to liberals in this absolutely resonates like you would not believe.

Stuart Turley [00:29:52] That. There’s a perfect example of what’s going on around the world right now. When you said, as you mentioned, energy policies to a left leaning government. You know, and that’s exactly what you’re hearing. And it’s like, wait a minute. Whoa, whoa, whoa. You know, and when President Trump called out China and said, is that China, the Great Wall of China that we’ve laughed about before have a magical barrier to keep coal pollution in, since they have more coal plants than the rest of the world combined. There’s nothing that we can do as a United States on net zero. Net zero means absolutely nothing that we can do. Now, Lee Zeldin did get approved by the U.S. Senate. And if we if he can and President Trump, I’m trying to get the executive order, he said for every one new regulation, he wants ten removed. Holy smokes. That is that’s how you govern, because the amount of damage that the Democrat machine and the rhino machine has done to the United States citizens is in the trillions. And I still say and I will go on record and keep saying this. And Tammy, your point is very valid. The more we spend in green, renewable wind and solar and hydrogen, the more fossil fuels we will use. And that is exactly what’s been going on. And I call it Turley’s law, if you want, but it’s what’s going to happen on this.

David Blackmon [00:31:40] It’s an immutable law. There’s no doubt about it.

Stuart Turley [00:31:43] It’s a what?

David Blackmon [00:31:44] An immutable law.

Stuart Turley [00:31:46] Oh cool.

David Blackmon [00:31:47] Baked into the cake.

Stuart Turley [00:31:50] All right. Let’s go to the next one here and let’s see. Tammy, you’re up.

Tammy Nemeth [00:31:58] Okay. So my first story is about Norway’s government collapses over EU net zero energy policies dispute. That was a bit of a shock last week. And I would love to get your take on this. Serena Davids do. What do you make of the Norwegian government collapsing?

Irina Slav [00:32:19] I had no idea that no way was in such a submissive position his relationship with the EU. But apparently it is because the I the members of the European Economic Area or want to be a full member of this European economic area. So the EU is in a position to dictate to Norway. What to do with its energy system. I was stunned to learn this. I had no idea about this. And apparently the Norwegians themselves don’t want this. Of course, the political class wants it. And we have the rightwing, probably far right wing party leaving the coalition. Yeah, which is good. It’s a it’s a positive development. Now they can, you know, the next elections are in September and then. And if they go the right way in the sense of the word, the EU will have one gas supply problem. One more gas supply problem.

Tammy Nemeth [00:33:30] So guess all the electricity that they put on to the grid because there’s all these interconnections have been built.

Irina Slav [00:33:37] Yeah. The UK might have a problem with these interconnectors too. Yeah. It’s great to connect. Great. Let’s build more as the EU. Yeah.

Tammy Nemeth [00:33:49] So this this actually is is sort of similar to what’s happening with with Canada and the U.S.. Because now there’s all this encouragement for integration and we’re going to have this rationalized trade. It’s more efficient and all this kind of thing. Same thing with the interconnections in the EU. We’ll have all these interconnections and so it’ll all be really efficient and rational. And then what happens when one of the parties gets angry about something and they use that as leverage? Now, when you when you encourage that kind of interdependence and then you yank one of the members, Yanks the carpet out from underneath, then that’s that becomes a real big problem. And you have to wonder about what that means for the future when all this interdependence has been encouraged and everybody retreats back to their old borders to be self-reliant and all this sort of thing.

Irina Slav [00:34:43] And that is why they hate the independent thinkers in the European Union. That’s why they hate Orban. That’s why their head hates the vehicle and that’s why they canceled the elections in Romania. Well, in part, at least.

Tammy Nemeth [00:34:56] Yeah. Yeah, for sure.

Stuart Turley [00:34:59] Wow.

Tammy Nemeth [00:35:00] So the the other article I have here is an absolute shock, but not a shock. So in the UK, The Daily Telegraph writes that there’s going to be LSC issued, I think this week sometime it was suggested it’ll be on Friday that they’re going to take 10% of the UK farmland out of food production in order to put either solar projects on their plant, more trees and create set aside habitat for birds and whatnot. 10%. The UK right now, I think only produces 52% of its own food. And they’re going to take 10% of that farmland out of production. And then related to that, here’s Starmer. The Prime Minister is in Brussels today trying to get into the European Green Deal. And the the people in Britain are like, what are you doing that he’s doing all of these little steps to undo Brexit. And this is just the latest you said. I want to be part of the carbon border adjustment mechanism. And they want to be part of the European emissions trading system. So he’s like all these baby steps back into the EU, which is linked to, you know, the Green Deal with all of their farm to fork strategy. And all of that is is about taking good farmland out of production. And the UK is doing the same thing. So this is related to the inheritance tax on the farmers in Britain. And and to take this land out of production is just unreal.

Stuart Turley [00:36:48] Do you think the UK is going to survive?

Tammy Nemeth [00:36:52] I don’t know. We got four and a half more years of this, so I don’t know. I agree with Brian’s and Chuck here. He says taking land out of food production is borderline suicidal. But all of these policies technically are suicidal suicide. So this is just one more. One more there.

Irina Slav [00:37:11] It’s like they are trying to to see how far they can push this madness. And there’s not that much distance.

Stuart Turley [00:37:22] It brands got a great point. And it’s the same thing with United States. We’ve had over 250 food processing plants self combust in the last 3 or 4 years. You cannot sustain food productivity. Gayle’s usually right on things. I don’t mean to be nice, Gayle.

David Blackmon [00:37:43] I am worried about something. That’s great. Thank you, Gayle.

Stuart Turley [00:37:46] Appreciate it. Well. Boy. Gayle’s just being really nice here. We’re Brad in a group therapy hug here on all of these terms.

David Blackmon [00:37:57] That you and I’m right about.

Stuart Turley [00:37:58] All right. Let’s go to the next one here. And Tammy, your Nemeth, the Nemeth report. Substack is very good.

David Blackmon [00:38:09] Wonderful.

Tammy Nemeth [00:38:09] So go check that out, everybody. I try to post regularly, but I’m away from home this past week, so I haven’t been putting too much out there, but I will return to it this week.

David Blackmon [00:38:21] Article Content when you’re on the road, folks. Yeah, really? It’s. Here’s me. So. And so. The first one is about the Ivan path. Solar project, which hundreds of thousands of tourists flying into and out of Las Vegas have viewed from their aircraft since 2014 when it went live. My wife and I happened to be flying into Vegas the day it went into production. And that beacon, that central collecting tower and that solar array is so bright, you can see it from 100 miles away. It’s amazing. It went out of business, of course, because it’s not a viable business plan, just like most renewable energy projects. And after just 11 years, 14 years before its advertised retirement date. So that’s that’s the state of. And there’s another one called the Tonopah Project. That’s north of Las Vegas, about 100 miles north of Las Vegas that went went bankrupt in 2019 and has just been sitting there riding, rotting in the desert for for the last six years.

Stuart Turley [00:39:35] David, I don’t want to interrupt, but who’s going to pay for all the land reclamation and the disposal? Because I know they’re.

David Blackmon [00:39:41] Just going to sit there and rot. No, actually, this one, the Ivan Park project is being repurposed. They’re going to turn it into a standard solar project, not a concentrated solar project like this one was. So they’re going to take all those panels out. They’re going to put in a standard solar array out there, a ton of power projects just still sitting there rotting. I don’t know if anything’s ever going to be done.

Stuart Turley [00:40:08] And that’s toxic.

David Blackmon [00:40:09] And it’s toxic here and there, But there’s no regulations requiring the proper dismantling and and disposal of these renewable energy projects, just like a wind project. You’re going to get to the end of the useful life of these wind projects and you’re going to have the third or fourth generation operator of it declare bankruptcy. And those towers and their foundations are just going to sit there and rot into perpetuity because there’s no regulations requiring the proper retirement of these renewable energy industrial projects. The second one is energy lawfare. This is the Democrats have no political power now in Washington, DC. So what they’re going to do is sue the Trump administration over everything. This is what they did in the first term with very little success. But, you know, it has the impact of delaying some of these moves that the president is going to have to make over the next four years. And we’ll see. You know, the Biden administration made a habit of just responding to any inconvenient court decisions by ignoring them over the previous four years. So we’ll see if the Trump administration tries to take the same posture when some left wing Biden appointee judge, as happened last week, issues a nationwide injunction over one of his policy priorities, which, you know, is something that shouldn’t even be allowed to happen. But it does. And we’ll just see how. I don’t know how Trump’s Justice Department is going to respond to these things this time. The offshore wind industry is dying a long time, long overdue, painful death, thank goodness, in the United States and really kind of elsewhere. I mean, what was it? Denmark held its largest ever offering of offshore wind leases last week and got zero bids and then announced it would hold no further, further lease sales in the future. So, you know, it’s dying and Denmark is dying in the United States. Trump has invoked this pause in any permitting or construction of new wind farms offshore. The US shale pulled out of $1 billion project last week and took a $250 Million write down here just to get out of it. And Orsted, one of the biggest wind developers on the face of the earth last week, had to change out its CEO. No more Mads Nipper.

Irina Slav [00:42:44] Yeah.

David Blackmon [00:42:45] Darn it. He was one of my favorite targets. But we all . Yeah.

Irina Slav [00:42:51] So.

David Blackmon [00:42:54] So. You know, the problem with offshore wind is this.

Tammy Nemeth [00:42:57] If I’m thinking of shall. Well, speaking of Shell, they’ve they’ve sold all of their oil sands assets to see in RL Canadian Natural Resources.

David Blackmon [00:43:10] Yeah. Yeah. So they’re real. Shell’s undergoing a big reorganization. Yeah. Doing a lot of stuff. And so you’re going to see a lot more big announcements out of Shell in the coming months. But the problem with offshore wind is it’s a it’s a unsustainable business model that requires constant injections of new subsidies and tax breaks every 2 to 3 years in order to be sustained. That’s not going to happen in the United States and it’s not going to happen. A lot of different clubs, probably not going to continue happening in the UK because it’s all going to collapse because the government’s going to collapse eventually the way they’re going. It’s it’s a non-viable, unsustainable industry and it’s going to go away ultimately. And that’s my stuff.

Stuart Turley [00:43:59] Cool. And your substack is.

David Blackmon [00:44:03] It is energy transition absurdities. The address is very simple. It’s my last name. Blackmon. BLACKMON.substack.com. Come see me.

Stuart Turley [00:44:15] All right. Then we have the Irina Slav. Here we go.

Irina Slav [00:44:19] Yeah. Thanks. But could you please pull up the last comment? Because I really like it.

Stuart Turley [00:44:25] From Jason. Here we go.

David Blackmon [00:44:28] Jasona.

Stuart Turley [00:44:30] Jason. Sorry. As an Albertan, I get new front row seats to the destruction of renewable brings. Landowners need to help fight against wind, solar and batteries. And also, I’m here helping as much as I can. Great show. Thank you, Jasona.

Tammy Nemeth [00:44:45] Thank you.

Irina Slav [00:44:46] You’re doing the right thing. Okay. Where do we begin? Let’s start with my favorite. I like them so much. So engine number one was that hedge fund that managed to lose three boards of directors. Three directors on the board of Exxon a few years ago for climate fraud transition because the transition was so important that Exxon was misleading its investors and it was destroying value for the investors by not planning for the transition and instead focusing on oil. Yes, that was then. Wow. Engine number one is building gas fired power plants with Chevron.

David Blackmon [00:45:34] How about that?

Irina Slav [00:45:35] I mean, this is this is a really good headline. It tells you the whole story without the background, which we all remember. Because you see, it was never about climate change. It was never about renewables. Instead, it was always about investor value, you know, keeping preserving value for investors and increasing it possibly. And apparently Exxon wasn’t doing this by focusing on oil and gas. But Chevron is now doing it by building more gas fired power plants with engine number one.

Tammy Nemeth [00:46:15] Interesting.

David Blackmon [00:46:16] My favorite saying is that if if renewables advocates didn’t have double standards, they would have no standards at all.

Stuart Turley [00:46:26] I really do find this interesting. This is coming on the heels of Bill Gates as well as Larry Fink, both of them saying at Davos that we need natural gas power plants in abundance in order to get a. Isn’t that amazing?

Irina Slav [00:46:47] How else?

Tammy Nemeth [00:46:49] Coincidence. I’m sure it’s just a coincidence.

Irina Slav [00:46:54] Yeah. And then the other stories about global investment in the energy transition, which exceeded $2 trillion for the first time last year. Yes. Where most of this investment was made in China.

David Blackmon [00:47:08] Yeah, of course.

Irina Slav [00:47:08] And guess what happened to investments elsewhere, namely in the US, in Europe and the UK, It fell. Which is then not apparently. And that’s a good thing they’re not. Well, leaving the US aside, because you have a new government and you’re safe. But apparently our regimes in the EU and the UK are not Italian enough yet. They cannot keep forcing these on us. All the way they wanted. Which is what China is doing, where we have not reached this stage of a centrally planned economy. At which China currently is. And it can keep doing this. Investing hundreds of billions into the transition. We’re not there yet, and we probably never will be. Which is great news. Even though Bloomberg and E.F. is really concerned about this, that I’m happy.

David Blackmon [00:48:05] Hey, Stu, before you move on, can you put Brian? Yeah, There you go. Trump’s ultimate goal is to weaken Canada until it succumbs and joins the United States. He wants to double the size of the United States. It’s not about drugs, Trump. If that’s really his goal, have better be very careful because overall, Canada tends to vote in about the same way as New York State does. And so what you’re going to do is create a permanent Democrat majority in the US Senate with two new Democrat senators. I just don’t think that’s a wise idea. If Trump wants to negotiate with Justin Trudeau to annex Alberta, God, I’m all for it. But it’s for the country. I don’t think so. We can’t afford to have another democratic state in our U.

Stuart Turley [00:48:54] I would totally agree with that. I do not. And trading population control from green. Renewable, sustainable to artificial intelligence. Yep. Yeah. I think Patrick is right on there.

David Blackmon [00:49:07] Yeah. Yeah.

Stuart Turley [00:49:09] All right. And Irina, your substack is.

Irina Slav [00:49:16] Irina Slav On energy.

Stuart Turley [00:49:18] Yep. It’s absolutely wonderful. And everybody needs to subscribe. If you do not subscribe, we will come on your doorstep and just start pounding on your ring camera and start yelling at you. That was a big problem. This needs to be addressed. I would agree. It would add eight blue states and I agree. And to red. And we do not need that.

Tammy Nemeth [00:49:45] No, no, no, you don’t.

Irina Slav [00:49:48] No.

Stuart Turley [00:49:50] Well, I’ll tell you what, you cannot buy this kind of entertainment this morning. And Panama to scrap infrastructure, deal with China this morning. So when really Secretary of State Rubio goes down to Panama and President Trump, Michael Yon is a war correspondent and is down in Panama, I talked to him on Saturday and he asked me to go down to Panama to do some interviews down there. And I couldn’t make the trip because I’m going to be in Houston this week. But this is very important when you take a look at Panama to scrap infrastructure. Michael Yon was showing how many pictures of Chinese signs in Panama. You know, remember, the Chinese owned a port at each end. The infrastructure and the Belt and Road Initiative is ongoing right now in Panama. Yeah. United States, for the last 40 years since Reagan has ignored our own backyard. I applaud President Trump whether or not he takes it back by force or not. It is in the treaty we can now. And he did say that the Panamanian president did say, it’s only till the threat is gone. Now, once our military is there, it’s just going to get bigger and we’re going to do it now. And so I call this well done, President Trump. The next one, Zelensky, has no idea where the 200 billion of aid went.

David Blackmon [00:51:40] Nobody could have seen that coming.

Irina Slav [00:51:42] No, no.

Stuart Turley [00:51:44] The Ukraine is a crime scene. Twitter was a crime scene. The U.S. Treasury is a crime scene. The Fed is a crime scene. I cannot tell you how bad all of this is. And when we wake up in the morning now, USAID trying to block the Doge audit. Holy smokes, Batman. And now people don’t realize who is at Doge sleeping at the financial offices. There are 27 year, 20 year old kids that Elon has got hired that are autistic and are now going through this process. They are brilliant people. So buckle up. It’s about to get entertaining and

Tammy Nemeth [00:52:42] And they’re super focused. They’re super focused on finding what’s going on with all those different transactions. Not distracted at all.

Stuart Turley [00:52:51] Can you believe the U.S. actually, that they tried to block us from being able to stop funding? There have been no questions asked from the US State Department in any of our outgoing money. And this is now absolutely. I am now a cat. I guarantee you I am more of an attitude of a cat. The US corruption is like an iceberg. What we see now is only the tip and people are going to start realizing that it’s going to get a lot worse. There’s dogs and there’s cats. I love dogs. I’m a dog guy, but I’m becoming a cat. And here’s the difference between a cat and a dog.

Video Speaker 3 [00:53:43] Cats and dogs. A dog can learn up to 250 words and gestures count up to five and even perform simple math. Equivalent Human Age three. A cat doesn’t give up and is sick of your shit. Equivalent humans age. 42.

Stuart Turley [00:54:09] I am a cat. And if you’re a liberal left wing nut job, I am a cat. I am sick of you. And I don’t give up. Now, here’s what’s going to happen. You’re going to see every Republican and Rino primaried out as this information comes out. I’ve started a new series on my podcast where I’m interviewing anyone that’s going to primary out a rhino, you know, energy news, be against rhinos. I guess I don’t know the name of this, but I’ve got some folks that are lined up and I’ve got about 15 of them lined up in this new series that’s coming around. This is I’m tired of it. I am a cat. Meow. And then you can find me on the energy news being as well as the energy news beat dot co.

David Blackmon [00:55:11] So I want to point people to just first of all, say that when when Doge begins making public all of the illegal, patently illegal and unconstitutional things U.S. has been funding and involved in since its creation, it’s going to be one of the most major scandals in American history. And anyone who wants to get just a taste of what they’re trying to hide can go find a clip of Rand Paul. Fact, I just retweeted it on my Twitter. Rand Paul. Questioning former U.S. administrator Samantha Power, who you may remember was our U.N. ambassador under Obama. This was in 2023. It’s a six minute clip. You can watch Rand Paul just ripped to shreds and her refuse to answer a single question. And it’s revealed that USA refuses to provide any documentation of its activities to any congressional committee on the Hill. And that’s all going to change. When it changes, it’s all going to become public. So this is going you’re going to be horrified by the kinds of things the U.S. has been doing under the auspices of the federal government. And it is one of the most evil things our government has ever created and needs to be shut down. So anyway, that’s my that’s my $0.02 on that.

Stuart Turley [00:56:40] And I agree. And I think we’re about to see an end to the Russia Ukraine war. And I really am pleased to hear it to see this. Because when you sit back and take a look at the green energy policies and you take a look at them where the money was funneling in the EU, Putin has to do nothing and he has won. If Putin does nothing, there is nothing that President Trump has a stick. He’s not negotiating in strength now with with President Putin. President Trump is now in a by the way, how do I get President Putin to the table? Zelensky is a useless person. Now what is happening? Germany has been de industrialized. Why? Tammy, we all talked about this and it’s the green energy policies. It is the total left wing deindustrialization. It’s the shutting down of their nuclear. It’s the firing back up of their coal. It’s by the way, we got a stripped down a wind farm and then just so we can reopen a coal mine. I mean, good. You can’t buy this kind of entertainment now. And then you have Chancellor Schultz is now facing a election again and his primary opponent is saying we need to rebuild the Nord Stream pipeline. And my recommendation to President Trump is buy that pipeline because it does have one of the three. There’s four pipelines and Nord Stream one and two. One of them is still capable. All you have to do is call up old Canada and then get the Mackenzie brothers to load up two turbines on there. And there’s actually six turbines in each location. So we need all 12 to get them from Canada. We’ve got cash flow immediately going in because without Germany re industrializing, the EU will fail, Naco will fail. This is a big spending project that’s going on around the world right now.

Irina Slav [00:58:49] Don’t get the ideas Stu, we want the EU to end and we want NATO to die.

Stuart Turley [00:58:58] Irina.

Irina Slav [00:59:00] Please.

Stuart Turley [00:59:01] President Trump is already ahead of you because he said he’s not dealing with the EU. He’s only dealing with countries

Irina Slav [00:59:08] And that he’s great in that group. He’s dumb. Yes. This is not just good, sensible. It’s it’s wonderful.

David Blackmon [00:59:16] It’s the right thing to do.

Tammy Nemeth [00:59:18] Trump Well, Trump say at the G7 that the EU is not welcome. That because the EU is technically not a member of the G7.

Irina Slav [00:59:27] It’s not a country.

Tammy Nemeth [00:59:28] And they and they always show up, you know, the four or the elites from the EU there.

David Blackmon [00:59:35] I’m sure.

Tammy Nemeth [00:59:36] Sorry you guys I have to run

Stuart Turley [00:59:38] Or I don’t think you’re going to see a G7 again or a G20 with the United States not on the front. And you’re not going to see you’re actually going to see what that one video clip of President Putin pushing people aside to go shake President Trump’s hand. That. Do what?

Irina Slav [01:00:04] Push people aside.

Stuart Turley [01:00:06] Want to ignore is everybody goes up and shakes President Trump. And I absolutely loved it. And I think the world of now, remember, I’m going to say this one last thing before I get us all kicked off of our own YouTube channel.

David Blackmon [01:00:21] We’re probably already banned anyway.

Stuart Turley [01:00:23] Or we’re banned. But the whole thing is. President Putin was was pushed into this by Naito. Naito kept expanding. Let’s this is not talked about and this is not something President Putin was pushed. Now, is he going to keep the land that he’s got? Yes, he’s now got a land bridge. He’s now got the Black Sea. And I think that they are going to see that come around. We’re going to see the end of the war. We’re going to see the end of the death, and we’re going to see natural gas flowing back into into Europe. That’s my prediction. I could be wrong. Okay. And on that note.

David Blackmon [01:01:09] I think you’re going to be nice to me anyway.

Tammy Nemeth [01:01:13] Bye Everybody. See you next week. Thank you, everybody.

Irina Slav [01:01:20] Yeah. Bye.