Energy News Beat
Switzerland’s nuclear power plant operators plan to keep the facilities operational for longer than initially planned, spokespeople for the large Swiss utilities Axpo Holding and Alpiq Holding told Bloomberg on Tuesday. Switzerland has four nuclear reactors, which […]
Rep. Josh Brecheen (R-OK) proposed a bill that would eliminate John Kerry’s position as the U.S. Special Presidential Envoy for Climate, Breitbart News has learned exclusively.Brecheen unveiled the Stop Climate Hysteria in Diplomacy Act, a […]
Delaying export permits for liquefied natural gas , or LNG, from already constructed and permitted LNG facilities on the U.S. Gulf Coast, President Joe Biden is demonstrating that he is more interested in appeasing environmental zealots than he is […]
By about a two-thirds margin, voters in the Lone Star State on Tuesday approved a constitutional amendment authorizing a new $10 billion Texas Energy Fund to provide low-interest loans to build gas-fired power plants, develop […]
Oil Price The Department of Energy has issued an invitation for bids for some 3 million barrels of crude that will go into the strategic petroleum reserve as part of refill efforts. In the announcement, the DoE […]
Highlights of the Podcast
00:00 – Intro
03:05 – Switzerland To Keep Nuclear Plants Operating For Longer Than Planned
04:33 – Exclusive: Rep. Josh Brecheen Proposes to Scrap John Kerry’s Climate Job
07:18 – Biden puts himself before LNG-related economic and national security needs
09:26 – Texas voters approve $10B energy fund, with most going to build gas-fired power plants
11:20 – Department of Energy invites bids for SPR oil refill
13:42 – Markets Update
17:46 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Michael Tanner: [00:00:14] What is going on, everybody? Welcome to another edition of the Daily Energy News Beat Standup here on this gorgeous November 9th, 2023. As always, I’m your humble correspondent, Michael Tanner, coming to you from an undisclosed location here in Dallas, Texas, joined by the executive producer of the show, the purveyor of the show and the director and publisher of the world’s greatest website, Energy News Beat Stuart Turley, my man. How are we doing today? [00:00:36][22.0]
Stuart Turley: [00:00:37] It’s a beautiful day in the neighborhood and it was bonkers today. I think you know how weird it was. [00:00:42][5.5]
Michael Tanner: [00:00:43] Bonkers Day finishes out a bonkers week and we are here to to bring you the news guys first up on the menu. Switzerland to keep nuclear plants operating for longer than planned. Next up exclusive representative it’s Josh breach and proposes to scrap John Kerry’s climate job in a move we’ve been calling for a year now. Looks like the House is finally catching up. Next up, Texas voters approved a $10 billion energy fund with most of it going to build gas fired power plants. Woo woo. We love that. Next up, Biden puts himself before LNG related economic and national security needs. Or as Stew would say, he is once again pooped on the rug. Next up. And finally, Department of Energy invites bids for SPR oil refill A I mean, with oil prices, are they where they’re at now? It actually is lower than their buying price do. So it’s going to be it’s it’s interesting that today’s the day they were they released that but nonetheless great set of stories today still then kick it over to me I quickly cover what happened in the overall markets. Really not much change. Oil prices tumble a little bit. We did not see the EIA data due to system upgrade, so we will get that number next week. I believe I’ll open on an interesting week to do systems upgrade for the. [00:01:55][72.7]
Stuart Turley: [00:01:55] First grade. [00:01:57][1.9]
Michael Tanner: [00:01:59] System copper that finish out with a few oil and gas finance related tidbits and then we’ll let you guys get on out of here, finish up your week. We appreciate everybody who stuck with us here, here on this Thursday. Been with us all week. Before we dive into the show, guys, again, as always, the news and analysis you are about to hear is brought to you by the world’s greatest website, www.energynewsbeat.com The best place for all of your energy news. Stu and the team do a great job of curating that website to make sure it stays up to speed with everything you need to know to be the tip of the spear. When it comes to the energy business, you can email the show [email protected] follow the show, Apple Podcasts, Spotify, wherever you get your podcasts. If I was a 16 year old YouTuber, I’d smash my fist and say, Smash that like button on YouTube at Energy News Beat Hit the subscribe button is, Well, that’s the best place really nowadays. Support the show again. Check us out energynewsbeat.com New data news Combo product [email protected] So good take a look at that. Give us your feedback. I’m going to get those to where we want to begin. [00:02:59][60.5]
Stuart Turley: [00:03:00] All right. Hey, let’s go to Switzerland. I’ll tell you one of my favorite countries in around Switzerland to keep nuclear plants operating for longer than planned. Michael, this is something that we’ve seen even in our beloved third world country of California. They’ve had to do that now in the Swiss voted in 2017 to phase out nuclear power, but they haven’t set a deadline. Now, Switzerland is also exporting a lot of energy and they’re making money on it. So your money seems to be a theme going on around here. And then the energy crisis around the electric supply. There’s several other countries, and this goes along with our story the other day when we heard that 12 countries are applying with the EU for nuclear. So now that they may extend it as many as 80 years, that’s nuts. [00:03:57][57.2]
Michael Tanner: [00:03:58] Yeah, I mean, 80 here. This is the funny I mean, this is what we like about nuclear, though, is the fact that it does last this long. I mean, we know we know you’ve got the back of the napkin math on wind farms. Where do they lasted nine years? Ten years, whatever your math says, 60 years. It will take. [00:04:15][17.0]
Stuart Turley: [00:04:15] It. Oh, yeah. And they’re not profitable from day one. So, you know. Hey, but I’ll tell you what, I think the small modular nukes is going to be the hit parade around here because it’s easier, faster and might get some better regulations. But I will say. [00:04:30][15.2]
Michael Tanner: [00:04:30] All modular reactors, I can’t get enough. All right. We’ve got to talk about John Kerry’s job. Is he about to be on the unemployment line? [00:04:36][5.7]
Stuart Turley: [00:04:36] I hope so. I mean, this is an amazing picture. If we can get Andy, our producer, to fly in the picture, John Kerry. This picture is a classic. He’s getting on to his private jet. [00:04:48][11.3]
Michael Tanner: [00:04:49] No, no, no. It’s not his private jet. It’s his family’s private jet. So you can’t quite nail it to him. [00:04:54][5.8]
Stuart Turley: [00:04:55] Oh, yeah. Right, Right. Okay. [00:04:59][4.2]
Michael Tanner: [00:05:00] What he said before Congress. Well, it’s not my plane. It’s my family’s. [00:05:03][3.4]
Stuart Turley: [00:05:04] Right. It’s my wife’s. I own nothing. I know nothing. He pulled a Schulz on him. Okay. When? When you when you pull the picture up and you take a look at it, Kerry has got his flat head being beat up against the wall unless you look closer and all the doors open. But he’s sitting there, looks like he’s beating his head up against the side of the plane. Now, here’s the funny part. Josh Breech in from Oklahoma, proposed a bill that would eliminate John Kerry’s position as the U.S. special presidential envoy of climate. [00:05:36][32.0]
Michael Tanner: [00:05:38] Thank you. [00:05:39][0.3]
Stuart Turley: [00:05:40] I love this quote. President Biden has used the excuse that climate change is an existential threat to create additional bureaucracy inside the State Department. Climate change support office is nothing more than a pet project for Lurch. I mean, John Kerry to integrate climate change into all aspects of American foreign policy decisions. I got to hand it to him. I didn’t even know who he was, but he’s from Oklahoma. I thought it was pretty cool. [00:06:08][27.8]
Michael Tanner: [00:06:08] I think we’re going to have to have him on the podcast, though. But I mean, this is exactly as he described. This is a leech on the federal government’s budget so that John Kerry can go play politician and attempt to again weave climate change into every single policy. Does he? What’s crazy is in the foreign policy. That’s insane. Why would you want to inject climate change into four balls? Oh, you’re right. Because that’s why the Israel conflict is going on right now. You’re right. It’s climate change. It’s not that Hamas did a terrorist attack in Israel. It’s not because they were concerned at the rate of emissions that Israel was doing. So we figured it out. [00:06:43][35.4]
Stuart Turley: [00:06:44] Oh, yeah. And there’s some more stuff coming around the corner that, yeah, the Biden’s maybe even negotiating with Russia to end the Ukraine war. [00:06:52][8.3]
Michael Tanner: [00:06:54] And what’s even funny? I love this last line. Chinese leader Xi Jinping, not a fan of him, but he did stick it to Kerry by holding a two day climate conference and didn’t even invite him. [00:07:04][10.0]
Stuart Turley: [00:07:05] Well, you know, that’s like inviting Jock to your date. You know, it’s just not something you want to do. All right. Let’s go to the next one here. Okay. [00:07:13][8.4]
Michael Tanner: [00:07:14] Good one. What’s next? [00:07:14][0.8]
Stuart Turley: [00:07:15] That was pretty funny. Excuse me. Biden puts himself before LNG related economic and national security needs. He is such a chowder head. I had to. You know, this is a family show. I had to, like. Be careful there. [00:07:31][16.1]
Michael Tanner: [00:07:31] Family show? [00:07:32][0.5]
Stuart Turley: [00:07:33] Yeah, family. [00:07:34][0.9]
Michael Tanner: [00:07:35] It’s a messed up family. Messed up family. [00:07:38][2.8]
Stuart Turley: [00:07:39] Oh, well, come on over. Will treat you like family, but come on over anyway. Biden’s LNG export policies are another example of his duplicitous incompetence. He does not truly support Ukraine. The Western alliance on denying China advanced semiconductor technology and free market capitalism. Biden is about Biden, not the nation. I love that line. But he’s delaying the export licenses for LNG. China just signed a 27 year contract with Qatar. We talked about that on yesterday’s show and it’s getting the Netherlands could say no LNG, no cooperation, no LNG for, you know, hey, the Seinfeld, LNG Nazi. Remember that soup Nazi? No LNG for you in end, but it can’t ship without final export license. It’s been waiting for a year. This is nuts. I can’t believe I mean. [00:08:41][62.6]
Michael Tanner: [00:08:42] The one thing that could theoretically get the entire world into energy security if you if you were to divide up correctly, is LNG. There’s more than enough to go along, go around. But again, going back to the issue with John Kerry, we want to inject climate change into every single foreign policy decision and use it as a tool to beat down our opponents. [00:09:01][19.2]
Stuart Turley: [00:09:02] Oh, yeah. And then you have our sanctioning going against everybody. We’ve weaponized sanctions and Iran is now they’re weaponizing their sanctions against the US and the West. So buckle up for that one. You asked me always, What am I afraid for? Guess what? When those sanctions kick in, the consumers are going to get it in the drive thru. Let’s go to the last one, my favorite one here. Texas voters approved 10 billion energy fund with most going to gas fired power plants to stabilize the grid. Michael I love me some Texas. I love having Texas license plates. I love sitting here in west Texas by a two thirds margin. Voters in the Lone Star State Tuesday approved a constitutional amendment by authorizing a new 10 billion energy fund to provide the low interest loans to build gas fired power plants. Wow, how awesome is that? There’s another eight 1.8 billion to support the development of microgrids and backup power for critical facilities. This. Smart. This is Texas doing it right again. [00:10:13][71.5]
Michael Tanner: [00:10:14] Yeah, No, it’s absolutely doing it right. And again, when it comes down to it, what is the new electricity that’s being built? Well, it’s gas fired generation and they say through reliable grid improvement can’t do that with wind or solar. [00:10:27][13.3]
Stuart Turley: [00:10:27] Now. [00:10:27][0.0]
Michael Tanner: [00:10:29] We’d be remiss to say if Texas, ironically, isn’t the one who is it one of the more advanced renewable energy states, which I think is fascinating to talk about because wind and solar are a great insurance program when it comes to backup power and grid specifically backup power and what’s known as dispatchable gen ers, what’s not non dispatchable generation, because dispatchable generation would be considered baseload, but it can be great with alongside great baseload energy. So again, Texas, they’re doing it right in my opinion and going gas fired over rolling this out for new wind farms. [00:11:01][32.6]
Stuart Turley: [00:11:02] Oh I agree. And I think this is going to be part of the thing that we’re seeing. Michael, I have never seen this kind of activity with everybody around the world bailing on wind farms. I mean, it’s wind is dead. Long live natural gas. Okay. Let’s go to an Energy Department. This one gets me worked up. I’ll tell you what. Department of Energy invites it. Bids for SPR oil refill. The D.O.D. has already repurchased 4.8 million barrels for SPR on an average of less than $73 per barrel, far lower than the average. About 95 barrel of SPR crude that was sold. Hogwash the barrel and they their cost on what they saw was $24, whatever crayon math. They didn’t even go to OSU. They went to, I think the University of China, their math. I think Hunter was actually grading this paper. He doesn’t even have a crayon. [00:12:04][62.3]
Michael Tanner: [00:12:05] Sorry, sir. Bye. [00:12:06][0.9]
Stuart Turley: [00:12:07] I apologize. Now, you can tell I’m worked up on this one last year. [00:12:10][3.4]
Michael Tanner: [00:12:10] I’m sorry. It’s. It’s ridiculous. The fact that we’ve drained our supply to the point where now we have to go and refill it at a higher price. Now, the interesting part is they might be saves you. Oil’s currently sitting at 75 bucks. This was below the original strike price in which they were going to buy, which is 79, that this article goes out to point. So they may have been saved by okay, luck when it comes to oil prices, but it won’t last for long and they better gobble it up as quickly as they can, because I think the question I’m going to pose and this might be a good leeway to our finance segment, so don’t answer this question. But keep in mind is, is this the cheapest? We will see oil and gas for the next three months because it’s the cheapest it’s been for the last three months. So hold that thought, Stu. I’m going to move over. [00:12:50][40.0]
Stuart Turley: [00:12:51] I’m going to throw this squirrel at you. I think the reason I picked this article is because it ties in to the data being out again at the EIA. And we also talked yesterday about your big conspiracy theory idea, which I’m jealous I didn’t think of from the API about Whoa, whoa, whoa, numbers. Guess what? Today there’s in a big investment house that was scratching their head on these high dollar things and they said we don’t get it. Is somebody playing with the numbers? This is a financial house that I had access to that I can’t put out there. And they all these big time experts were saying, oh, there’s something fishy going on here. Anyway, off to you. [00:13:38][47.2]
Michael Tanner: [00:13:38] And there’s there’s a lot fishy going on. And I think this is a nice Segway, Stu, into our finance segment. S&P 500, NASDAQ both finish up about a 10th of a percentage point. Crude oil tumbles about another two and a half percentage points, all the way down to 7949 off the back of two things. One, again, weakening demand prospects when it comes to what’s happening specifically with the conflict that’s going on right now in Israel, people again tend to see that demand will continue and demand specifically from what’s going on in and around, as I said, the Middle East, but also what’s going on in China. As you guys remember yesterday, the API showed a 12 million barrel build and the EIA comes out today and says our last three days we’re doing maintenance upgrades so we won’t know the actual number until next week. Do I smell a conspiracy theory? Do do I? The problem is the API doesn’t want prices to drop, so it’s hard to say that the American Petroleum Institute was in on a conspiracy to drive prices down. But it’s hilarious that on the one day everybody wants the EIA crude oil storage numbers are system updates. [00:14:41][62.7]
Stuart Turley: [00:14:42] Well, you know what? At 4 a.m., another nine at 730 at night with Trump ing on I and I’m not saying 730 at night Fox News all of a sudden they call it and then all counting is stopped. So is that a conspiracy theory? Is this a conspiracy theory? I don’t know. [00:15:03][21.1]
Michael Tanner: [00:15:04] There’s a reason we’re not gaining subscribers on YouTube, but that’s okay, folks, because we bring you the. Perceptions that you need to know. So we will find out the EIA petroleum crude oil storage numbers next month. Nothing really on the oil and gas finance standpoint. We did see two royalties companies, Phenix Minerals and Zero royalties announced financials. So you can check those out on energy news, BET.com. But it’s the last week of the shows. Do I vote? We finish up a little early. What should people be scared about heading into the weekend? [00:15:31][27.5]
Stuart Turley: [00:15:32] Last week on the show, What are you smoking? [00:15:34][1.7]
Michael Tanner: [00:15:34] Last show of the week. [00:15:36][1.4]
Stuart Turley: [00:15:37] Thank you. [00:15:37][0.3]
Michael Tanner: [00:15:38] That’s what’s new. [00:15:38][0.5]
Stuart Turley: [00:15:39] Oh no, no. Get the. Clear for podcast listeners. I just held up two mice pretending to have a defibrillator on the chest. Don’t leave me. Just kidding. [00:15:50][11.4]
Michael Tanner: [00:15:50] What should we be worried about this weekend? [00:15:51][1.3]
Stuart Turley: [00:15:52] Do you. You quitting? [00:15:53][1.2]
Michael Tanner: [00:15:54] Well, good thing I’m not. So is there anything else we should be worried about? [00:15:57][3.1]
Stuart Turley: [00:15:57] Well, let’s have a great day. And it’s a fantastic weekend. We’re going to have some great podcasts. We have six that we’re kicking out right away. [00:16:06][8.2]
Michael Tanner: [00:16:06] I hate to rattle some of these off for us. [00:16:10][3.4]
Stuart Turley: [00:16:11] Let’s see here. Boy, it depends what stand we just. [00:16:14][2.7]
Michael Tanner: [00:16:14] Released Dan Dan from ComboCurve. We love him. [00:16:17][2.7]
Stuart Turley: [00:16:17] Love Dan at out. We also have I have to give a shout out to Dan Dan was at a very high dollar lunch luncheon and executives were there and everything else. And he was Are you ready? Somebody came up and said, I just saw your podcast, and he said, Dan called me up immediately and said, I didn’t know how far your podcast had reach it only just released out. I mean, that’s it. That’s pretty strong. Okay, let’s go to. [00:16:48][31.0]
Michael Tanner: [00:16:48] Does Dan know that I think we paid that guy to tell him that, so. [00:16:51][3.1]
Stuart Turley: [00:16:52] Oh well, I started out. Dan, Dan, such a classic. Okay. Tucker Perkins, Arena Slav. And then we have Dr. Brooks, another China update. He is really out there. Then we have Kevin Hoke it and Noah Dean, a live one that we did at the Permian. Then we have also Larry Richards. He was the head of the Permian show I’m also interviewing. Are you ready? Mark Masters And he is the guy that started Tucker Limbaugh and all the other folks over there at FOX. We are interviewing him on Friday. I’m also interviewing tomorrow. And this is Steve Reese. I mean, the Steve Reese. We guys. [00:17:40][47.8]
Michael Tanner: [00:17:40] We love ourselves some good Steve Reese. [00:17:42][1.5]
Stuart Turley: [00:17:43] Oh, yeah. We got a bunch of big names coming around the world. [00:17:46][3.1]
Michael Tanner: [00:17:46] Absolutely. Guys, you can check it out all out on the energynewsbeat.com. But for that, guys, we’re going to let you get out of here. Finish up with your week. Happy Thursday, guys. You will hear our podcast interview. I will drop one one of the ones we just listed on Friday, Saturday, usually the weekly recap show Sunday, you get a break from us and on Monday we will be back in it, guys. For Stuart Turley, I’m Michael Tanner. Have a great rest your week. Have a great weekend. We’ll see you Monday. [00:17:46][0.0][1014.2]
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The post Daily Energy Standup Episode #248 – Switzerland’s Nuclear Extension, Rep. Brecheen’s Climate Job Proposal, Biden’s LNG Prioritization, Texas Energy Fund Approval, and DOE Oil Refill Bids appeared first on Energy News Beat.
