Russian Gas Peaks

ENB Pub Note: Lee Zeldin is critical in President Trump’s commitment to lower energy costs. Lee has to cut the regulatory process, and he has an agency full of activists that he also has to […]

Highlights of the Podcast

00:00 – Intro

01:38 – Musk gains ‘full access’ to US Treasury system

03:34 – China to sue US over Trump’s new tariffs

04:55 – Canada strikes back with tariffs

07:16 – Russian gas exports via key Black Sea pipeline hit historic high – Reuters

10:50 – Senate Confirms Lee Zeldin To Head EPA As Trump Vows To Trim Climate Regs

11:34 – Outro

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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

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Stuart Turley: [00:00:10] Hello, everybody. Welcome to the Energy News Beat Daily Standup. My name’s Stu Turley president and CEO of the Sandstone Group. Today is Monday, February 3rd. Hold on to your seats. Holy smokes. Batman Musk gain full access to the US Treasury system. And if you didn’t hate your government enough, now all you’re going to do when you find out how bad it’s been, let’s go to the next story here. China to Sue over U.S. Trump’s New Tariffs. This is funny. When just when you think people are really waking up to the fact that President Trump kind of means a few things, Canada strikes back with tariffs. Not exactly what you think. I got some ideas rolling around on this one. Russian gas exports via a key Black Sea pipeline hits historic high. This is really bringing to light that the EU needs cheap Russian natural gas in order to stop the de-industrialisation. That’s actually a good thing for President Trump in negotiating Senate Confirms Lee Zeldin to Head EPA As Trump Vows to Trim Climate Regs. I got to hand it to President Trump. He put out another order saying for every new regulation he wants ten destroyed. I kind of like the way he thinks on this, but let’s start out with our first story here. [00:01:37][87.7]

[00:01:38] Musk gained full access to U.S. Treasury system. This is amazing to me that we would have to sit here and fight to get control of the U.S. Treasury system. The DOJ’s team discovered, among other things, that payment approval officers at Treasury were instructed to always approve payments even to known or fraudulent terrorist groups. Elon Musk says the government and Department of Government Efficiency doge established by President Trump, led by Musk, aims to identify and eliminate wasteful government spending that would result in a $1 trillion deficit. But economic growth would be able to match that number, which means no inflation in 2026. Musk wrote this. Absolutely. Let’s let you know that over the last 40 years, the Uni party in the United States, both Republican and Democrat under the Treasury, were committing treason. I’m going to say it right now. You can absolutely be a school or excuse me, you cannot sit there and even pretend to think the United States Treasury was doing their job. They were funneling money out the door to terrorists, to people that did not have the US government and the US citizens invested hard. Well done Doge. Well done, President Trump. And it is despicable. The rhinos as well as the Democrats, the let the Treasury go on. Quite honestly, if it comes around to it and if the Treasury does get replaced, if the Fed gets totally replaced, I would not be totally upset. But it appears there’s a lot of corruption going on. [00:03:34][115.9]

Stuart Turley: [00:03:34] China to Sue U.S. over Trump’s New Tariffs. The president has placed restrictions on Chinese goods. What he was retaliation for failing to stem the flow of migrants and drugs into America. Quite honestly, I find this refreshing. China’s Commerce Ministry said Beijing is strongly dissatisfied with Washington’s actions and firmly oppose it. I’ll tell you what the United States has been played for a very long time. China’s position is firm and consistent. Trade tariff wars have no winners. This cannot move and solve the US problems at home and more importantly, does not benefit either side. It is still less, the World Ministry said in a statement late Saturday. It also warned the new tariffs will harm the counter-narcotics cooperation between the two sides and the future. I call hogwash. And quite honestly, we are going to have a little bit of pain while we get under control of the Treasury, while we get under control of our borders. And you cannot expect the eggs. We have got to get control of the EPA. And I’m going to talk about that here in a minute. We have got to get control of things so that we are not taking advantage of or being tried to be made not alive. I mean, you get us take a look at what’s going on around here. [00:04:55][80.7]

Stuart Turley: [00:04:55] Canada Strikes buy Back with tariffs. Let’s take a look at this one. Prime Minister Justin Trudeau, who’s on the way out, thank goodness I said in Canada, that must stand up for itself and protect its national interest in trade restraint. Tonight I’m announcing Canada will be responding to the U.S. trade action with 25 trade tariffs against $155 billion worth of American goods, Trudeau said. Let’s go through a couple of numbers here. Canada imports oil from OPEC members. They import 15.4 Canada U.S. Imports. Excuse me. This is U.S.. Imports. So we’re going to pay when we import oil from Canada, we import 61.6% of our oil is imported from Canada. So we’re going to add 10% on top of that. I’m okay with that if it starts balancing out things and everything else. 15% of our oil imports come from OPEC countries. Some of those are sanctioned and Mexico is 7.1% and then 10% is from South America. And some of those are also not good. And so actually, we want to take a look at who in the United States is importing, and most of it’s from California. But we’ll leave that alone. But let’s also take a look at the historic tariffs that Canada has already had on the United States. And he is not even talking about it. Milk, 270%. Cheese 245%. Butter to 98. Chicken, 238. Sausages 69.9%. Barley seed 57% bovine or meat to 26.25%. So when you sit back and take a look at tariffs, this is called rate siding. And if we take a look at what President Trump is doing, and that is the external revenue source and he’s going to eliminate tax on Social Security, eliminate tax on tips. He’s going to then start taking a look at right sizing, manufacturing and everything else. I think this is all phenomenal and people do not understand how tariffs already work around the world. So we’re about to find out. [00:07:16][141.2]

Stuart Turley: [00:07:16] Let’s get ready to rumble. Russia gas exports via a key Black Sea pipeline hit a historic high. And according to Reuters, deliveries of the Russian natural gas pipeline via the Turkstream pipeline reached a historic high, according to data analyzed by Reuters. When it occurred, when Kiev shut down transit to the fuel, the EU countries via the Ukraine, Kiev decided at the end of 2024 to terminate its five year gas transit contract with Russia. Energy giant Gazprom cutting off Russian pipeline. What you’re seeing is a geopolitical equation that is going to help people in the war in Russia. I’m all for General Kellogg going out and really trying to work with President Putin and President Trump and let’s end this war. There’s a couple different ways that you can talk about how to do this. Germany has had the left wing green energy policies going on with the green energy policies. They have gone through a total deindustrialization of Germany. In so goes Germany’s economy, goes the EU. Now you start having to see that there is a call for Chancellor Schulz’s new person who is going to be trying to run against him coming up in the I believe that’s in the March elections is that they want Nord Stream pipeline to come back online. If President Trump is listening to this, it might be beneficial to see about buying the Nord Stream that is still capable because then you can negotiate with Canada to go ahead and say, hey, wait a minute, I’ll get the two turbines to go on each end of that because there’s a problem between Russia and Canada. And then President Trump would have cash flow coming in from the Nordic Stream pipeline that you could turn on from Gazprom. Russia would get cheaper natural gas, but then you could plan out when to have these other ones come back online and then you could sit there and and really be involved. You would help Russia. Russia has done a great job in securing their economy. Even with the sanctions that were put on by the Biden administration because they were not enforced. And you sit back and take a look. President Putin invaded, would not have invaded Ukraine because President Trump was not was not going to do what Nato did. Nato encroached on Russia. Do not forget this. So when you sit back and take a look, I am hopeful that General Kellogg, who is working with President Trump to negotiate a. On this. This is a complicated process that’s now going on, and I am quite pleased that there may be some things come forward and President Putin needs to have an encouragement to do business in the EU to come back to the table. Right now, he does not need to do anything and he can go off and sell his natural gas to Asia, and Ukraine can just sit there and keep losing. The way to end the war is to encourage natural gas sales in the EU and let’s end the war. Anyway, just a personal point. [00:10:50][213.3]

Stuart Turley: [00:10:50] Let’s sit here and go back to this last story here. Senate confirms Lee Zeldin to head the EPA as Trump vows to trim climate regulations. This is absolutely phenomenal. The vote was 56 to 42. And Lee Zeldin favor three Democrats Ruben Gallego, Mark Kelly of Arizona, and John Fetterman of Pen. Avanza supported Zeldin, along with all 53 Republicans. John Fetterman, my hat’s off to you. A well done. I’m glad that you did a Zeldin Lee. If you’re listening, I’d love to interview you on the podcast about energy regulations at any time. Get your story out there. We’d love to be able to do that for you. [00:11:34][43.8]

Stuart Turley: [00:11:34] So with that, like subscribe share. We want to give you an announcement that we are getting a new sponsor for The Daily Show, Reese Consulting. Steve Reese We just released his podcast, his interview, Steve Reese and the Whole Gang is a phenomenal energy knowledge base in training as well as in all of their activities that they do in the United States and world. They have tremendous contacts and we are so thrilled to have Steve Reese Reese Consulting and Reese training as a new sponsor for The Daily Show. Thank you all. Talk to you all soon and I’ll be heading up today. Have a great day. I feel so. [00:11:34][0.0][682.5]