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Weekly Daily Standup Top Stories
BRICS Officially Announces Financial System Similar to SWIFT
The BRICS alliance is looking to bypass the Western SWIFT system and replace it with its own financial mechanism. The creation of a new financial messaging system similar to SWIFT will allow BRICS to reshape […]
Vital Energy nearing a deal to buy Point Energy for $1.1 billion, sources say
NEW YORK, July 28 (Reuters) – Vital Energy (VTLE.N), opens new tab is closing in on an all-cash deal to acquire private equity-owned Point Energy Partners for $1.1 billion, people familiar with the matter said on Sunday, […]
Yellen says $3 trillion is needed each year to fund climate transition
Treasury Secretary Janet Yellen said Saturday the world’s transition to a low-carbon economy requires $3 trillion in new investment annually through 2050, and that filling the financing gap to reach that level of funding represents the […]
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 […]
Texas Pipeline Congestion Could Throttle U.S. Oil Exports at Critical Time
Texas crude oil pipelines are nearing capacity, with major pipelines between the Permian Basin and the Port of Corpus Christi currently more than 90% full. Potential export constraints could arise as US crude production continues […]
Highlights of the Podcast
00:00 – Intro
01:19 – BRICS Officially Announces Financial System Similar to SWIFT
05:34 – Vital Energy nearing a deal to buy Point Energy for $1.1 billion, sources say
08:02 – Amazon claims to power all its operations with renewable energy. If only that were true.
10:32 – Yellen says $3 trillion is needed each year to fund climate transition
13:48 – Kamala’s Much-Touted $5B Electric School Bus Program Yielded 60 Buses In 3 Years
15:24 – Kamala Harris is more radical on her energy policies than Joe Biden!
17:17 – Texas Pipeline Congestion Could Throttle U.S. Oil Exports at Critical Time
19:30 – Outro
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– Get in Contact With The Show –
Michael Tanner: [00:00:14] What’s going on, everybody? Special edition of the Daily Energy News beat. Stand up here on this gorgeous. Saturday, August 3rd, 2020 for our weekly recap. Stu, it’s been a long week. [00:00:26][11.7]
Stuart Turley: [00:00:26] Holy smokes Batman. Just when you thought it was safe. [00:00:30][3.1]
Michael Tanner: [00:00:30] Just when you thought it was safe, all of a sudden we get sniped. So unbelievable is long week, lot of earnings, a lot of geopolitical stuff to cover, a lot of politics. It’s everything. Spline oil’s down. Then it’s up. Who knows where it’ll be by the time you listen to this. All we know is the best place for oil and gas and energy. News is right here on the Energy News Beat podcast. Thanks for checking us out. Hit the description below for all the links. Thank you to Stu and the team. Do a tremendous job keeping this website up to speed. Everything you need to know to be the tip of the spear. We’ve also got a great oil and gas investment opportunity. Check out the description below for a link to that. You can sign up, get the pitch deck, and then book some time to sit down and and we’d be happy to walk you through everything. But Stewart, let’s go ahead and dive in. I’m bringing up to the team. Let’s go. [00:01:17][47.3]
Stuart Turley: [00:01:18] Let’s rumble. [00:01:18][0.2]
Michael Tanner: [00:01:19] Bricks officially announces financial system similar to Swift. Unbelievable. I’ll read a few quotes here from the article. The BRICs alliance which who is in BRICs? I think it’s Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates. Okay, so this BRICs, which is kind of like almost like NATO, but not really. There’s no real army associated with it. But these countries they’ve created and are looking to bypass the Western Swift system and replace it with his own financial mechanism. The creation of this new financial messaging system will be similar. Swift will allow BRICs to basically settle trades and settle transactions without incorporating the US dollar. This is under unbelievable. Local currencies will be used for trade settlements, ending the reliance on the US dollar once and for all. The BRICs payment system will be similar to Swift can break the global dominance of the US dollar. We’ve talked about this ad nauseum on this show. Here’s a quote from Deputy Chairman of the Russian State Duma, Alexander Baba. I don’t really know how to pronounce his name, so I’m sorry about that. The financial agenda of BRICs is the main initiative for building a new economic reality. It solves both major cracks creating our own financial messaging system for BRICs countries, similar to Swift, based on state owned banks capable of clearing clearing settlements of counterparties from BRICs countries and the related role of the same bank. He also went ahead and said it is necessary to create new financial institutions. This is where it gets spooky. The new system must be technically compatible with the existing financial infrastructures of the participating countries, which includes integration of national payment system banks and other financial actors. At the same time, systems which ensure a high level of security and data protection, prevent cyber attacks and unauthorized unauthorized access to the financial information. Folks, we’ve been talking about this on the podcast for over a year now. They’re coming for the dollar. And what I mean, coming for the dollar, the petrodollar is, is it may or may not be around here in a while. We’ve known that they want ever since Russia invaded Ukraine and the sanctions that the United States put on Russia specifically, basically getting them off and not giving them access to Swift, which is a payment system that allows countries to do international banking. But things are then settled on the dollar, hence the rely on the dollar. And why the dollar sometimes is the national or is the reserve currency of the world. It also has a little bit to do with the petrodollar, but this strikes at the heart of it. Now these BRICs countries are going to be able to do inter-country commerce without touching the dollar. This is crazy. The reserve status of the dollar is slowly dwindling in this. This is critical because this ties directly into energy again with the Petro dollar. Right now, if you want to trade oil, generally it’s being it’s settled in dollars, but not ever since Russia invaded Ukraine. We placed a bunch of sanctions on them. They’ve been settling trades with China. They’ve been they’ve they’ve not been using the dollar with China. They’ve not been using the dollar with India. They’ve been accepting rubles in return. They’ve been doing some other interesting up. So this is an all out. You can call it an assault. You can call it a swift, but it’s a global realignment of the underlying financial institutions. You’re going it’s again, all of those countries I just mentioned. Let’s go ahead and read them again. Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates. I mean, you’re talking about Russia, India, China, UAE, these huge countries involved with both the buying and selling of oil and gas. Now they can explicitly go around. The US dollar is not good. If you are somebody who is of the mindset that we are coming into a recession here in the United States, this doesn’t bode well because this attacks the heart of the idea that while the dollar will always be around because it’s a global reserve currency, well, how are we sure about that? Are we sure about that? So huge. Worry here. When Stu gets back, we’ll have to talk about. We have been following this one for a while and we’ll continue to follow Brix getting off Swift if you have any. If you have any, I wonder what it’s going to be called in the first place. It’s got to be called something cool, so feel free to leave a comment on YouTube if you if you think you know what it’s going to be called, I don’t know if I have any good comes. I’m guess right now, but it’s got it’s gotta have a good name. So we’ll be interesting to see what it is. [00:05:34][254.7]
Michael Tanner: [00:05:34] Vital energy nearing a deal to buy Point Energy for 1.1 billion. Yeah, super interesting point Energy Partners is a is an exclusive Delaware producer. They’re owned by Fortis Investments and vital is looking at acquiring them with about 1.1 billion according to people who quote according with people familiar with the matter said know blah, blah, blah. What’s also interesting is the is I’ll read now street the article the deal for the Permian basin a focus producer point energy could be announced soon, possibly as early as Sunday, assuming talks do not have a last minute snag, according to sources requesting anonymous a nominee. This is also interesting. Some of Point Energy’s assets will also be sold to a different buyer that is participating in the transaction alongside vital. According to sources, those assets are low growth will produce steady amounts of oil and gas. If you go look on Point Energy Partners website, they’re pretty much an exclusive Delaware producer. They’ve got about 20,000 acres in the Delaware and do about 40,000 barrels a day. So it’s going to be pretty honest. You know, it’s boe. So we I mean, we need to, you know, hard to know what that what that oil and gas split is. You can go check out our friends at well database. They’ll be able to tell you haven’t had necessarily an opportunity to dive in and do that. But I promise you if this thing happened, this may be a great a great nother deal spotlight for us to cover. But yeah, so I think this is the wave of M&A we’re now in. And consolidation is mainly along side. And you’re not going to see these smaller companies. And I think a lot of what these private equity companies are doing are maybe they see the writing on the wall and they feel like $80, $75 oil is going to be as high as price is going. They’re trying to cash out. Maybe you know, a lot some of this stuff just falls along their traditional five year investment cycle. So they need to cash out. But this would be an all cash deal which again obviously we need. So so you know M&A still around here folks we love vital energy there. You know in my you know from what I’ve seen from them the one of the the most technology focused and and make it a point to be it and technology focused. so we love our friends over at Vital Energy. We wish them well. And, you know, again, anybody who takes technology seriously, we are a fan of but it looks like vital energy going to Super point Energy partners from 1.1 billion. Maybe we’ll see if it wraps up. Maybe we’ll hear about this. You hear about this as you listen to this Monday morning. Maybe it’ll take a few more days. Well, I’m interested who this other smaller player is. Obviously, it’s you. You you wonder who it is to be honest with you, if if it’s probably not a big it’s by not a larger company. It’s probably a, you know, a smaller guy depending on where they’ll be. But you know, when this all wraps up, we will definitely come back and bring you all of the details, guys. [00:08:02][148.0]
Stuart Turley: [00:08:02] Amazon claims to power all of its operations with renewable energy. If only that were true. I’ll tell you. Amazon announced that it achieved 100% renewable energy on seven years ahead of schedule. That sounded really good for Virginia. Amazon owns more data centers there than anyone else, and data Center Energy is driving Dominion Energy. Virginia has planned to renege on its climate commitments to keep some of its coal plans online and build expensive new gas plants and transmission lines. So let’s start with the good news. The claim that it had purchased enough renewable energy to match its energy use is likely true. So they bought it from somewhere else, and then they’re still using coal and dirty other forms of energy, but they’re claiming that they’re doing it. And so the consumers that are paying for it in their areas are losing the tax benefits as well as other things. So there’s a lot to this story that’s in here. Amazon keeps its energy demand in Virginia as secret, but it’s pretty sure it’s 110 data centers. You’re use more than that. 2019 Green Peace Report estimated Amazon’s Virginia data center demand at 1700MW in operation or under construction, an amount that would call for 6800MW of solar. Amazon rejected Greenpeace’s estimate. So, hey, I don’t trust people’s numbers anymore. I don’t trust that there are other I lighting out and saying, oh, by the way, we have achieved this. If you say you’re going do something like this, then do it. If Virginia, the bottom line in this article is very important. If Virginia is serious about meeting the climate change, we can’t blindly accept rosy claims from corporations whose central goal is not sustainability, but growth data centers whose energy. Demand isn’t met on a 24 by seven from zero. Carbon sources located in the same grid are not part of the climate solution, they’re part of the problem. Well said. This is from Virginia mercury.com. Link is in the show notes. So that one just really kind of got me worked up a little bit. Well done. Great article. [00:10:32][149.6]
Stuart Turley: [00:10:32] Yellen says 3 trillion is needed each year to fund the climate transition. Listen to these words very carefully. Yellen says $3 trillion is needed each year to fund climate transition. What we are witnessing today is the elimination of climate crisis and the energy transition. The energy transition is over. The energy transition is not going to happen thanks to AI. You heard that with AI with a story a little bit ago. AI is such a power hog, it is driving net zero away. And now Secretary Yellen is saying that the U.S. has to come out. Now it is saying that it has to come from investments in the business and in the government, but it affects the consumer. And it is a going to be in effect of impacting inflation and higher rates for everyone. What you’re going to see is gigantic increases in energy. What happens when that is de-industrialization and your lifestyle changes? This article is incredibly important. Neglecting to address climate change and the loss of nature and biodiversity is not just bad environmental policy, it’s bad economic policy, Yellen said. But yet they’re willing to try to put wind farms in the Gulf of Mexico that will kill millions and millions of migratory birds, and then they’re willing to kill whales off of the coast. In the right, whales are going to be endangered. And they licensed more whales to be killed. And than we actually having right whales. So this hypocrisy is actually disgusting. Wealthy economies around the world provided a record setting $116 Billion in Climate finance for developing countries in 2022. This is a little bit of a misnomer. About 40% of it which came from multilateral development banks m D-Bus, Yellen said. The banks, which include the world Bank, which charges higher interest rates for profit, to go to renewable energy that is more expensive for the consumers than the projects actually put into place into the developing nations. So this goes to the ultimate point. Climate change is a scam. This is now a gigantic money grab. And this is critical. Yellen says 3 trillion is needed each year to fund the climate transition. I have not heard this before. And this frightens me that they’re now just calling it a climate transition. Buckle up. [00:13:48][195.0]
Stuart Turley: [00:13:48] Kamala’s much touted $5 billion is 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 and 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 not. [00:15:23][95.0]
Stuart Turley: [00:15:24] 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 oil only exists 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. [00:17:17][112.6]
Stuart Turley: [00:17:17] Texas pipeline congestion could throttle U.S. exports at a critical time. Retro Texas crude pipelines are nearing capacity, with major pipelines between the Permian and the Port of Corpus Christi. Michael running at 90% for. Holy smokes, Batman, you take a look at that map of pipelines, and you can’t swing a dead cat in Texas without hitting the pipeline they’re running at. [00:17:46][29.1]
Michael Tanner: [00:17:46] No. But we still can’t get our gas to market, which is kind of funny. [00:17:49][3.0]
Stuart Turley: [00:17:50] It is. There’s some big, big holes in there from the Permian to Corpus and getting them out there. But Haynesville does not have that. But they’re expensive. More. It’s a whole different market for drilling over there. [00:18:01][11.3]
Michael Tanner: [00:18:02] Yeah. Shout out to the deal. Spotlight episode number eight that I just did with John Farrow. I’ll be will actually be doing a full marketing blast here early next week on it, but you can go check it out on YouTube right now. We talk a lot about this specifically in the box and that deal that Devon did to go set up Grayson Mill. A lot of what that did was, was get that, you know, Grayson Mill has an extensive midstream capacity that they own their own pipeline infrastructure, which is great. I’m a big fan of turning a cost center into a revenue source. Gotta love that. But the problem is a lot of it’s not connected with where Devon is. So the point of all that is, why is it helpful to own midstream infrastructure? Well, if you can if if you’re not allowed to flare, you got to put your gas somewhere so you can produce the oil. It’s not like you can just produce the oil and not produce the gas. So a gas take away not to make money on it because at $2 natural gas, no one’s making money on it, right? It’s the ability to get your gas to market. And I think that’s what I think. That’s the key thing here. I think it’s what East Daily Analytics, we love them over there is really saying in this in this in the article. [00:19:06][64.2]
Stuart Turley: [00:19:07] Right now, one of the things that I would definitely want to do is take a look at data centers in east in West Texas and put a data center in Midland near the Permian, where you got all the offtake you could ever want sitting out there. I guarantee you, because you’re going to have microgrids popping up for data centers. That would be a big one. [00:19:28][21.5]
Michael Tanner: [00:19:28] Yeah. No, absolutely. [00:19:28][0.0][1146.4]
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