[[{“value”:”
Daily Standup Top Stories
UAE Raises Capacity at Offshore Oilfield as It Aims for 5 Million Bpd by 2027
Abu Dhabi’s national oil company ADNOC has raised the production capacity at one of its offshore oilfields by 25% using AI technology as the United Arab Emirates looks to boost its total crude oil production […]
Why Citi Thinks Trump Is Bearish for Oil
U.S. oil and gas industry thrived under Biden, with major oil companies doubling profits and energy shares up 117%. Harris likely to continue Biden’s policies, while Trump may push for deregulation and increased production, potentially […]
Russia’s Crude Oil Shipments Plunge to 11-Month Low
Russian seaborne crude oil exports have dropped to their lowest level since August 2023, as Russia’s refinery runs are rising and Moscow is working to comply with its OPEC+ production quota, tanker-tracking data monitored by […]
Why Don’t They Turn the Wind Turbines Up?
“Why don’t they turn the wind turbines up?” -Inquiring minds want to know There is a truism among wind and solar advocates that these resources are never to blame for anything bad that happens on […]
Kamala’s Much-Touted $5B Electric School Bus Program Yielded 60 Buses In 3 Years
One California superintendent says electric buses would take the district back to the ‘Pony Express days’. One of Kamala Harris’s highest-profile responsibilities as vice president has been spearheading the federal government’s billion-dollar efforts to deploy […]
Kamala Harris is more radical on her energy policies than Joe Biden!
Kamala Harris is oblivious to humanity’s addiction to oil as she is to these two basic facts: (1) No one uses crude oil in its raw form. “Big Oil” only exists because of humanity’s addiction to the […]
Highlights of the Podcast
00:00 – Intro
01:26 – UAE Raises Capacity at Offshore Oilfield as It Aims for 5 Million Bpd by 2027
02:52 – Why Citi Thinks Trump Is Bearish for Oil
04:47 – Russia’s Crude Oil Shipments Plunge to 11-Month Low
05:54 – Why Don’t They Turn the Wind Turbines Up?
07:59 – Kamala’s Much-Touted $5B Electric School Bus Program Yielded 60 Buses In 3 Years
09:36 – Kamala Harris is more radical on her energy policies than Joe Biden!
11:13 – Outro
Follow Stuart On LinkedIn and Twitter
Follow Michael On LinkedIn and Twitter
– Get in Contact With The Show –
Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:14] Hello, everybody. Welcome to the Energy News Beat Daily stand up. My name’s Stu Turley, President & CEO of the sandstone Group. Michael’s got the night off. But I’ll tell you what. It is busy year around here. Let’s start off with our stories today. UAE raises capacity at offshore oilfield as it aims for 5 million barrels per day by 2027. Second story out of the blocks why city thinks Trump is bearish for oil. Russia’s crude oil shipments plunge 11 month low. Wow. Why don’t they turn up the wind turbines up from the energy? Bad boys. I love that Isaac or and the gang over there. Great job. Camilla’s much touted 5 billion electric school bus program yielded 60 busses in three years. Wow. What’s a few billion between friends? And then Kamala Harris is more radical than her energy powered season. Than Joe Biden from a friend of the show. We absolutely love Ronald Stein. He has a great article there. And let’s get rolling with our first story here. [00:01:25][71.0]
Stuart Turley: [00:01:26] UAE raises capacity of offshore oil as it aims for 5 million barrels per day by 2027. Adnoc, or Adnoc offshore settle on Robert Field as may have seen a 25% jump in production capacity to 140,000 barrels per day through the implementation of Advanced Digital Technologies. The state Company of the UAE, once OPEC’s largest producer, said this is pretty exciting. This is enabled the accelerated growth in the field, the capacity with reduced cost and emissions. The fields digitalization will enable the deployment of additional AI solutions to further enhance and optimize operations, said Adnoc, which has been betting on digital and AI enabled operations to boost operations management and cut emissions and cost. Pretty cool. Hats off to them. Quote unquote. We will responsibly grow our oil production capacity to 5 million barrels per day by 2027 from our low carbon reservoirs, drive estimated you our solutions and explore new resources to meet the growing energy needs of our customers while keeping emissions to the minimum. Absolutely. Hats off to them in the UAE. [00:02:51][85.0]
Stuart Turley: [00:02:52] Hey, let’s roll over to why Citi thinks Trump is bearish for oil. This is kind of funny. U.S. oil and gas industry thrived under Biden, even while being hit in the back of the head with a shovel. With all major oil companies doubling profits in energy shares up 170%. Harris likely to continue Biden’s policies While Trump may push for deregulation and increased production, potentially lowering oil prices, a renewables could set pace. Setbacks under Trump, which increased carbon emissions and delayed peak fossil fuel demand. But natural gas might benefit a very interesting paradigm shift in there. And so if you’re an investor in oil and gas and you want money, vote for Biden or vote for Harris. That doesn’t make sense, because the way the policies under the Biden administration, Harris, Biden administration have destroyed the economy. Now, if you’re going to have the destruction in demand, which would lower volume as well to lower demand. Oil and gas investors have handsomely rewarded under the Biden administration, with energy shares jumping up 117% since Biden took over the Oval Office. This is leftover, actually, from the ESG movement, which was put in in the oil and gas. Executives listened, and they did give back more to their investors. And this is very, very important. What has cost so much was the supply chain issues, the cost of pipe, the cost of drilling, the cost of supply and everything else has been passed on to the consumers. [00:04:46][113.9]
Stuart Turley: [00:04:47] So let’s go to the next story here. Russia’s crude oil shipments plunge to 11 month low. Russian seaborne grew. Exports dropped their lowest level since August of 2023 as Russia’s. Refinery runs are rising and Moscow is working to comply with its OPEC plus production quota. Tanker tracking monitored by Bloomberg showed on Tuesday. I gotta hand it to him that they are they’re doing that. The cumulative overproduction in these six months was 1.18, 1184 million barrels per day for Iraq and 620,000 for Kazakhstan and 480,000 barrels per day for Russia. Russia’s plan mostly for its overproduction, Russia’s energy minister said last Wednesday the country remains fully committed to the OPEC plus agreements. I think what you can see here from this is that there most of the countries produce what they need to produce to cash the checks, but hats off for them for at least trying. [00:05:53][66.5]
Stuart Turley: [00:05:54] Why don’t they turn the wind turbines up? You got to subscribe to the Energy Bad Boys Substack. This is an absolute wonderful article. When you sit back and take a look at what grid operators have to go through, and especially in Texas, Ercot, they have a very good couple. The points in here. Inevitably, wind and solar advocates will point to problems with every other resource, arguing that coal piles can freeze right? Natural gas pipelines can malfunction in interrupting supply, causing gas units to go down, and nuclear units can unexpectedly drift off line. No, that’s not why it works that way. Let’s take a look at this slide. Miss producer, if you could bring up Ercot wind capacity factors during 2021 blackouts versus combined wind capacity accreditation, you’ll notice that the line of accreditation is just a solid black line leaning or all the way across the chart. But then you take a look at the wind capacity and its availability. It drives grid operators nuts having to plan for wind. Either are they turning up or are they coming on line? Is there no wind? You cannot plan on one or the other. And so when you sit back and take a look, this is a very good articulated story in in why don’t they turn up the wind rather than whole wind and solar, accountable for the inherent intermittent energy they produce? Wind and solar advocates want you to believe they’re not planning for thermal outages as the real culprit. They’re trying to throw blame around on here. And hats off to Isaac and the team over there. Great job guys. It is a national concern on this. And they break it out into Mismo and the other regions and Ercot. And then you take a look at peak demand. Great job. [00:07:58][123.8]
Stuart Turley: [00:07:59] And let’s roll over here to Kamala’s much touted $5 billion spent in electric school bus program yielded 60 busses in three years. This is some federal spending at its finest. A first tranche of the clean school bus programs. Two years ago, Harris and the EPA administrator, Michael Reagan, unleashed nearly 1 billion of that money and federal rebates for 389 school districts across all 50 states to help deliver a total of 2463 electric school busses. Just 27 of those districts have proven to the EPA their busses were delivered and that their diesel fuel busses were replaced had been discarded. Collectively, those districts deployed a total of 60 battery electric, a low emission or low emission propane fuel busses. Low emission propane. As a first time I’d seen that roll in there makes a lot of sense for rural school districts. Low emission probe brain works EPA anticipates that transitioning to new technology school busses will take time. I’m all in on propane. Let’s go transition to propane for the busses. But let’s not spend $5 billion to the EPA and handed out for 60 school busses. That is nut. [00:09:35][96.4]
Stuart Turley: [00:09:36] Let’s go to the last story here. Kamala Harris is more radical on her energy policies than Joe Biden. So when you want to take a look, I want to give a shout out to Ronald Stein on this. Ronald is one cool cat. He’s got a great book. I’ve had several great discussions with him. Let’s go through some of the key points here. No one uses crude in its raw form. Big will only exist for humanity’s addition to the products and fuels made from oil. Renewables only exist to generate occasional electricity. They can make products or fuels. You cannot make products or fuels from wind or solar. It just makes electricity. So when you go through this, more than 6000 products based on oil are being used for the health and well-being of humanity, pharmaceuticals, fertilizer and everything else. Kamala should know that there’s no need to overregulate the suppliers of fossil fuel when she has no replacements to meet the supply chain demands of our materialistic world. She’s trying to please her base there, if you would. So mandating EVs and like trickle a generation from wind turbines and solar panels and mandating more usage of crude oil, this is a very good validation of my theory that the more we go renewable, the more fossil fuels we will use. I’ve been saying this for years now, and it really is coming to pass. If you consider coal and oil and natural gas, fossil fuels, which I really think that they’re hydrocarbons rather than fossil fuels, you’re going to use more of them the more you go renewable. It’s just the way the numbers are playing out. [00:11:31][114.7]
Stuart Turley: [00:11:31] So with that please like subscribe. If you are buying or selling hydrocarbons, as in jet fuel, as in oil as in LNG. Go to energy news. Be.com/trading desk. Reach out to us. We’ll connect you with the right place to buy and sell your hydrocarbons and get those rolling there for you. Subscribe to the Energy News Beat Substack and look forward to hearing from you guys and have an absolutely wonderful day. Thanks. [00:11:31][0.0][671.1]
– Get in Contact With The Show –
The post UAE Oil Expansion appeared first on Energy News Beat.
“}]]
Energy News Beat