Korean boxship loses containers overboard in stormy Bering Strait

Energy News Beat

AsiaContainers

The 4,228 teu SM Portland hit stormy weather in the Bering Strait on a voyage from Asia to Vancouver and reported 115 containers had either been damaged or lost. The Korean-flagged vessel is making for Canada where the coast guard will inspect the ship with vessel tracking data placing it off Alaska today. 

High winds and stormy sees saw the SM Line-owned ship to tilt dramatically on its voyage from Busan resulting in the container losses. 

“We will endeavor our best effort to deliver your valuable cargo safely,” stated SM Line in an alert to customers.

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CMA CGM’s Saadé vows to invest $20bn into the US over the next four years

Energy News Beat

Rodolphe Saadé was in the White House yesterday, unveiling a $20bn planned investment into the US. 

The huge investment over the next four years would create 10,000 jobs, CMA CGM said, and include expanding container terminals, building an air cargo hub in Chicago, buying five new Boeing 777 freighters, as well as tripling the number of US-flagged ships subsidiary American President Lines (APL) operates, while Saadé told president Donald Trump an announcement on building ships in the US would be made in the coming weeks, as the new American government gears up to revive domestic shipbuilding capabilities.

Saadé, chairman and CEO of CMA CGM, said: “I am proud to build on our long-standing relationship with the United States through this commitment of $20bn to the country’s maritime future and logistics capabilities.”

“It’s so important because it’s about shipping,” Trump said. “You know, we lost our way for many years. We haven’t done anything. We used to build a ship a day.”

The president added that he planned to announce a new government program for shipbuilding next week, something that is likely to penalise Chinese-built tonnage and cause considerable supply chain headaches.

“If the USTR’s proposal moves forward, it is likely to create significant disruptions in the global shipping market, particularly in the tanker and container vessel segments, by leading to higher freight rates, which could fuel inflation and raise logistical costs for US businesses,” Xclusiv Shipbrokers suggested in a recent report, adding: “Moreover, many shipowners may avoid US ports altogether to bypass the added costs, potentially leading to an imbalance in vessel supply and demand. This could strain global shipping capacity and result in higher costs for US trade, undermining the US government’s goals of boosting domestic production and strengthening exports.”

https://twitter.com/RapidResponse47/status/1897736053504565716/video/1

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Congress repeals Biden offshore oil and gas rule

Energy News Beat

AmericasOffshore
Legislation to repeal a rule adding costs to offshore drilling imposed by the Biden administration has been repealed after a vote in Congress.

Representatives from the Republican party used the Congressional Review Act to cancel out certain regulations which former US president Joe Biden was able to finalise near the end of his tenure.

During the week, five votes in the House or Senate repealed several energy and financial-related regulations.

The most recent one cleared the House of Representatives on Thursday. It repealed a requirement that new oil and gas leaseholders on the US outer continental shelf submit an archaeological report before they start offshore drilling production. The vote passed the Senate last week meaning that it will be soon heading to president Trump’s table for signing.

“This is a major step towards unleashing American energy, lowering costs, and undoing the damage of the Biden-Harris administration,” said House Republican Conference Chairwoman Lisa McClain.

The vote was 221-202 to repeal the rule. Even nine representatives from the Democratic party joined the Republican majority with just one Republican voting against and one abstaining.

This is the second vote that will help the oil and gas industry following the scrapping of an Environmental Protection Agency regulation charging oil and gas producers a fee on methane emission leaks. The vote passed both chambers of Congress last week.

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DNO buys Sval Energi for $450m in cash

Energy News Beat

EuropeOffshore

Norwegian oil and gas player DNO has reached an agreement to acquire all of the shares of Sval Energi from private equity firm HitecVision for a cash consideration of $450m.

DNO said in an Oslo Bors filing that the value of the firm is based on an enterprise value of $1.6bn. The acquisition will be financed from existing liquidity including available credit facilities. In yearend 2024, the company held $900m in cash and a further $100m liquidity under its reserve-based lending facility.

Additional funding sources include new bonds and RBL debt as well as offtake-based financing. The effective date of the transaction is January 1, 2025, with expected completion mid-year 2025. Previous news reports showed that HitecVision was planning to sell Sval Energi since January last year.

According to the Norwegian firm, Sval Energi’s assets are complementary to DNO’s North Sea portfolio and will boost the company’s global net production by two-thirds to around 140,000 boepd. Proven and probable (2P) reserves will also increase by 50% to 423m boe.

North Sea production and reserves will also increase. The former will quadruple to around 80,000 boepd while the latter will skyrocket from 48m boe to 189m boe (2P) and from 144m boe to 246m boe (2C).

“Given low unit production costs and limited near-term investment requirements, the Sval Energi portfolio is highly cash generative and will help underpin the development of the numerous discoveries we have made in Norway recently,” said DNO’s executive chairman Bijan Mossavar-Rahmani.

This transaction will also strengthen DNO’s presence in core areas on the NCS where the company already has 14 discoveries.

Sval Energi will bring with it non-operated interest in 16 producing fields offshore Norway, 141m boe in net 2P reserves and 102m boe of net 2C resources as well as a team of 93 employees to be integrated into the DNO organization. Its cash flow from operations totalled $565m in 2024 with a production cost of just $14 per boe.

The MLK wind farm will be the only asset carved out before closing and is not considered part of the transaction.

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Explosion of Imports Causes Trade Deficit to Spike by 96% in January YoY on Tariff Front-Running

Energy News BeatPrice

Surge of imports not a sign of weak demand, on the contrary, but imports deduct from GDP.

By Wolf Richter for WOLF STREET.

The tariff chaos continues with a constant barrage of announcements of new tariffs followed by announcements of pauses, exclusions, etc. Just this morning, Trump announced that tariffs on Mexican goods will be paused until April “for anything that falls under USMCA” (the NAFTA replacement). Yesterday, they announced that tariffs on autos from Canada and Mexico will be paused for one month. In addition, implementation of tariffs takes some time. And uncertainty and chaos reigns.

But months of tariff-talk has set off a huge wave of imports to front-run any tariffs, starting in December with a 15% year-over-year spike, before Trump was even President, and accelerated in January with a 25% year-over-year spike to an all-time record of $319 billion not seasonally adjusted, and $330 billion seasonally adjusted, according to the Census Bureau today.

Exploding imports are not a sign of a weak economy, or weak demand – on the contrary, normally. But in this case, they’re a sign of front-running the tariffs. Imports are subtracted from GDP in the GDP formula and therefor push down GDP growth. Exports are added to GDP and push up GDP growth. And this explosion of imports is going to weigh on GDP growth. But it will be followed by a drop in imports when the front-running ends, as imported goods fill warehouses in the US to the rafters.

Nearly half of the year-over-year increase of $63 billion of goods imports was driven by finished metal shapes. Computers, telecom equipment, and pharmaceutical products accounted for another third of the increase:

  • Finished metal shapes: +1,030% YoY, +$31 billion YoY, to $34 billion. Accounted for 46% of the spike.
  • Computers, computer accessories, telecom equipment: +54% YoY, +$11 billion YoY to $32 billion. Accounted for 17% of the spike.
  • Pharmaceutical preparations: +55% YoY, +$10 billion YoY, to $28 billion. Accounted for 15% of the spike.
  • Imports of gold: +293% YoY, +$2.7 billion YoY, to $3.8 billion. Accounted for 4% of total spike.
  • Cellphones and other household goods: +26% YoY, +$2.2 billion YoY, to $10.8 billion. Accounted for 3% of total spike.

But motor vehicles and parts imports dropped. Lead times for motor vehicles are long, with long and global supply chains, and they cannot suddenly be produced and shipped in larger quantities. And so automakers were not able to front-run any tariffs, and imports in January fell by 6% year-over-year, or by $1 billion, to $38 billion.

Explosion of imports caused Goods & Services trade deficit to spike by 96% YoY.

Goods trade deficit worsened by 64% year-over-year, to a record worst level of $155 billion, not seasonally adjusted (blue in the chart below).

The goods and services trade deficit, which is what drags down GDP, nearly doubled, to $131 billion in January, from $67 billion a year ago.

In early 2022, imports also exploded as the supply chain chaos was getting resolved and backed-up goods started arriving in the US after the shortages. In March 2022, the trade deficit exploded to $102 billion, contributing to a negative GDP reading in Q1.

It also shows the scary dependence of the US economy on imports, after decades of rampant and reckless one-way globalization by Corporate America in search of cheap labor to fatten up their profit margins, and why this issue needs to be addressed with tariffs to change the math of producing in the US.

It’s not like no one is manufacturing cars in the US. All Teslas sold in the US are made in the US. Teslas are on top of the list of vehicles with the most US content. Hondas are right behind. Most Honda’s sold in the US are made in the US. Honda has already responded to the tariffs by announcing that it would also shift production of its next generation Civic Hybrid from Mexico to the US. All Japanese automakers have plants in the US, as do European automakers. Most Toyotas sold in the US are made in the US. Ford, GM, and Stellantis – with their US-sold brands relying more and more on production in Mexico – will likely also rethink some of their options. And that’s the purpose of tariffs. Or else they can pay.

But what they cannot do without watching their sales collapse is pass on the cost of the tariffs by raising prices on models that compete with vehicles that have a lot of US content and don’t face those costs. That’s why Ford is in such a panic – because it will have to eat most of those tariffs, if they’re ever implemented, and given the current chaos and lobbying, they may not get fully implemented.

Enjoy reading WOLF STREET and want to support it? You can donate. I appreciate it immensely. Click on the mug to find out how:

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US ‘energy dominance’: Wright, Burgum visit Louisiana liquefied natural gas facility amid $18B expansion

Energy News Beat

FIRST ON FOX: Energy Secretary Chris Wright and Interior Secretary Doug Burgum are traveling to a Louisiana-based liquefied natural gas exporter Thursday, as the company announces a massive $18 billion expansion of its existing facility — a move the Trump administration says sends a “signal to the rest of the world that American energy dominance is back.”

Wright and Burgum will tour U.S. liquefied natural gas exporter Venture Global on Thursday as it announces its investment in expanding its Plaquemines Parish export facility. Louisiana Gov. Jeff Landry will join the Cabinet secretaries.

The facility was approved by President Donald Trump in 2019 during his first term, along with the company’s first facility, Calcasieu Pass. Both facilities have started liquefied natural gas production in just five years.

President Donald Trump speaking at Cameron LNG Export Terminal in Hackberry, Louisiana, in 2019. (Scott Clause/USA Today)

President Donald Trump speaking at Cameron LNG Export Terminal in Hackberry, Louisiana in 2019. (Scott Clause/USA Today)

U.S. liquefied natural gas exports were able to replace a substantial amount of gas supply to Europe after Russia invaded Ukraine in 2022.

Trump lifted former President Joe Biden’s pause on new liquefied natural gas export permits. The National Association of Manufacturers conducted a study on the Biden ban that found nearly 1 million jobs would be threatened by the liquefied natural gas pause over the next two decades if the restriction remained in place.

The Plaquemines, Louisiana, liquefied natural gas facility is expected to produce approximately 27 million tonnes per annum (MTPA) of liquefied natural gas, but with the additional investment, it is expected to provide a total production capacity of more than 45 MTPA at Plaquemines.

Interior Secretary Doug Burgum during a Senate Energy and Natural Resources Committee confirmation hearing in Washington, D.C., on Jan. 16, 2025.

Interior Secretary Doug Burgum during a Senate Energy and Natural Resources Committee confirmation hearing in Washington, D.C., on Jan. 16, 2025. (Al Drago/Getty Images)

“President Trump’s vision to unleash our energy potential, drive down inflation, and sell energy to our allies is signaling to the world that America is back,” Burgum told Fox News Digital. “By investing in American Energy Dominance, the administration is empowering companies like Venture Global and their hardworking employees to Make America Great Again.”

Burgum told Fox News Digital that the success of facilities like Plaquemines Parish’s liquefied natural gas export operation “is proof that America’s next ‘Golden Age’ is underway.”

Additionally, Wright told Fox News Digital that on day one of Trump’s second term, he and the Department of Energy “ended the Biden-Harris administration’s failed ban” on liquefied natural gas export permits.

Energy Secretary Chris Wright, pictured here, and Interior Secretary Doug Burgum are traveling to a Louisiana-based liquefied natural gas exporter on March 6, 2025.

Energy Secretary Chris Wright, pictured here, and Interior Secretary Doug Burgum are traveling to a Louisiana-based liquefied natural gas exporter on March 6, 2025. (Al Drago/Getty Images)

“Thanks to President Trump’s leadership, companies are investing in America again,” Wright said. “Just 50 days in, the American people are already seeing the impacts of the energy dominance agenda — and this is just the beginning.”

The planned Plaquemines expansion is expected to consist of 24 trains and would represent an approximately $18 billion additional investment in Louisiana, bringing Venture Global’s total investment in U.S. projects to more than $75 billion.

Venture Global CEO Mike Sabel told Fox News Digital that the expansion makes Plaquemines “the largest” liquefied natural gas “export facility built in North America,” and said supplying liquefied natural gas to U.S. allies will have a “substantial impact on the U.S. balance of trade.”

“We believe this flexible incremental capacity will position us to respond rapidly to market growth signals,” Sabel said. “In a capital-intensive commodity industry, capital will always flow to the most competitive projects, and we believe that an expansion of Plaquemines is one of the most economically efficient opportunities available to meet growing” liquefied natural gas demands.

President Donald Trump, center, with, from left to right, EPA Administrator Lee Zeldin, Secretary of Energy Chris Wright, Secretary of the Interior Doug Burgum and Secretary of Transportation Sean Duffy.

President Donald Trump, center, with, from left to right, EPA Administrator Lee Zeldin, Secretary of Energy Chris Wright, Secretary of the Interior Doug Burgum and Secretary of Transportation Sean Duffy. (Demetrius Freeman/The Washington Post via Getty Images)

Sabel also touted the Trump administration for creating “the best regulatory environment in decades.”

The expansion is also expected to support hundreds of new, permanent Louisiana jobs and tens of thousands of indirect subcontractor, part-time and full-time jobs throughout the state, and more than 30 other states across the nation.

“Today’s announcement is a result of President Trump’s dedication to strengthening our energy infrastructure,” Louisiana Gov. Jeff Landry told Fox News Digital. “Under President Trump, Louisiana is now at the forefront of supplying LNG to our allies, and bringing America to energy independence once again.”

The Q-LNG4000, a tanker carrying liquid natural gas (LNG) that will be used for fuel on the next generation of cruise ships, is seen in Port Canaveral. (Malcom Denemark, Florida Today)

A liquefied natural gas tanker is seen in Port Canaveral, Florida. (Malcom Denemark/Florida Today)

The visit and the massive investment come just days after Trump’s first address of his second term to a joint session of Congress. The president vowed to “make America affordable again” by reducing the cost of energy.

A major focus of our fight to defeat inflation is rapidly reducing the cost of energy,” the president said during his speech. “We have more liquid gold under our feet than any nation on earth, and by far. … And now I fully authorize the most talented team ever assembled to go and get it.”

Slashing energy prices was one of Trump’s many campaign promises before he was elected in November 2024. At a rally in State College, Pennsylvania, Trump vowed to lift the U.S. pause on U.S. liquefied natural gas export terminals.

Source: Fox

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Torm ships out three oldest tankers

Energy News Beat

EuropeTankers

Danish product tanker owner Torm has continued its sell-off of older tonnage with three ships set to exit the fleet.

The New York and Copenhagen Nasdaq-listed firm is shipping out 2005-built MR tankers the 46,200 dwt Torm Ragnhild, 50,000 dwt Torm Resilience and 47,000 dwt Torm Thames, with deliveries to new owners expected during the first quarter of this year.

Buyers of Torm’s currently three oldest vessels in the fleet have not been disclosed. The trio is estimated by VesselsValue at about $47m.

Since early 2024, the Jacob Meldgaard-led company has grown and modernised the fleet by taking delivery of 19 vessels and completing sales of seven older ones. Once the latest transactions are closed, Torm will have 91 tankers in the LR2, LR1, and MR segments, with the oldest vessels built in 2007.

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UK plans to overhaul windfall oil and gas tax

Energy News BeatNorth Sea oil and gas

Britain plans to overhaul its windfall tax regime on oil and gas producers once current levies run out in 2030, it said on Wednesday as it vowed to transform the North Sea into a renewables hub.

The government is asking industry players and others to provide feedback until May 28 on policy options including taxing what it calls “excess revenue”.

This plan would not be applied to oil and gas market prices but rather the actual price producers receive after the use of financial products commonly employed to shield them from price fluctuations, according to the consultation document.

In October, Britain’s Labour government upped its windfall tax on North Sea oil and gas producers to 38% from 35% and extended the levy by a year to March 2030, bringing the headline tax rate on the sector to 78%, among the highest in the world.

A 25% windfall tax was first introduced by the previous Conservative government in May 2022 in the wake of soaring energy prices following Russia’s invasion of Ukraine. The tax was subsequently increased to 35% in November 2022, and extended by one year in March 2024.

Oil and gas producers have argued that the windfall levy has hit profits and brought uncertainty over investments, hastening an already advanced decline of oil and gas output in the British North Sea.

Energy minister Ed Miliband said that oil and gas production would continue to play an important role in the energy mix, and the government was committed to maintaining existing fields for their lifetime.

Wednesday’s plans reiterate the government’s intention not to allow any new oil and gas licenses.

Alongside oil and gas production, the government also wants to ensure that clean energy sources such as hydrogen, carbon capture and wind start to thrive, creating new jobs.

Source: Reuters

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Trump’s Energy Focus

Energy News Beat

Daily Standup Top Stories

DAVID BLACKMON: Trump Zeroes In On American Energy In Congressional Speech

Unlike his predecessors, President Donald Trump always seems to have energy and its impacts to the lives of all Americans at the top of his mind. Following his stemwinding acceptance speech at the Republican National […]

What Europe Can Do If Trump Drops Russia Sanctions

Europe has much more economic leverage on the Kremlin than Washington. ​By Agathe Demarais, a columnist at Foreign Policy and a senior policy fellow on geoeconomics at the European Council on Foreign Relations. Trump’s Second […]

Texas Seeks to Balance AI Growth and Grid Security

Texas is projected to need the equivalent of 30 nuclear power plants by 2030 to meet the electricity demands of new data centers. The Electric Reliability Council of Texas (ERCOT) has received requests for new […]

Is Net Zero Worth the Price?

The UK’s Net Zero efforts have coincided with a decline in electricity availability and a rise in energy prices, impacting both businesses and consumers. Analysis suggests that while the UK has reduced its own emissions […]

U.S. Crude Stockpiles Climb as Oil Prices Tumble Below $70

Crude oil inventories in the United States saw an increase of 3.6 million barrels during the week ending February 28, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil […]

Highlights of the Podcast

00:00 – Intro

01:17 – DAVID BLACKMON: Trump Zeroes In On American Energy In Congressional Speech

03-16 – What Europe Can Do If Trump Drops Russia Sanctions

05:28 – Texas Seeks to Balance AI Growth and Grid Security

07:44 – Is Net Zero Worth the Price?

09:14 – U.S. Crude Stockpiles Climb as Oil Prices Tumble Below $70

11:56 – Outro


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– 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: [00:00:09] Hello, everybody. Welcome to the Energy News Beat Daily Standup. My name’s Stu Turley, president of the Sandstone Group. It is just absolutely crazy out there. And I hope you really enjoyed last night’s presidential speech to the joint session of the House and Senate. I know I enjoyed watching the Democrats fall apart and sit on their hands. You cannot buy that kind of entertainment. Let’s go ahead and go to our first story here. David Blackmon, Trump zeroes in on American energy and congressional speech. We’re going to be covering that here in just a minute. Next story is what Europe can do if Trump drops sanctions. And following up, Texas seeks a balance of AI growth and grid security. They’re getting ahead of that curve. Here’s one for, is net zero worth the price? I’m not sure if you want to admit to that one or not. And then one of the others coming around the corner, U .S. crude stockpiles climb as oil prices tumble below 70. That’s based off of some things going on around the world and a little bit of shock on Trump’s tariff reform there. [00:01:16][66.9]

Stuart Turley: [00:01:17] Let’s start with David Blackmon. Trump zeros in on the American Energy Congressional speech last night. I, for one, really liked it. Here’s a quote out of it. And this article from David Blackmon was in the Daily Caller, an outstanding article. Upon taking office, I imposed immediate freeze on all federal hiring, a freeze on the new federal regulations Trump set early on, and I terminated the religious new green scam. I withdraw from the unfair Paris Climate Accord, which is costing us trillions of dollars in other countries we’re not paying. We ended all of Biden’s environmental restrictions that were making our country far less safe and totally unaffordable. And importantly, we ended the last administration’s insane electric vehicle mandate, saving our auto workers and companies from economic destruction. I think people need to also realize that he’s encouraging building machines here. So he’s actually encouraging us to build electronic cars. So you’d actually make a choice. Do you want an electric car? buy a Tesla. I’m all in. And so I think that it is absolutely doing a wonderful on that. It was kind of funny. He also said last night, I have a message for the wonderful people of Greenland. We strongly support your right to determine your own future. And if you choose, we welcome you into the United States. That’s right about the time when he said, oh, by the way, we’re now taking control of the Panama Canal. And sure enough, It looks like BlackRock and a few others have bought those ports on each end of the Panama Canal that China had gotten control of. And I think President Trump is delivering on his word that should have never been given away for a dollar. And it should be a win -win for Panama people as well as the American people. But we’ll see how that rolls out. [00:03:15][118.4]

Stuart Turley: [00:03:16] Let’s go to what can Europe do if Trump drops sanctions. In Trump’s second term, U .S. Donald Trump doubles down on plans to ink a deal with Russian Vladimir Putin over Ukraine. The Western sanctions lie in the ability of Western and Washington and Europe to leverage the prominence of the U .S. dollar. But as we get into later down into this article, Europe’s trade leverage over Russia is perhaps greater when it comes to Moscow exports, mostly hydrocarbons. And this is not true in this article. In this field, the Kremlin shot itself in the foot by curbing gas shipments to the block in 2022. That’s not necessarily how it came out as well either. Europe’s energy leverage over Russia also extends to oil shipments. This article is missing some key points. And this author, let’s see who the author is, it’s by Agatha Demetrius, a columnist at Foreign Policy. And she’s really not understanding that Russia has actually gained 4 % in their last year, even with sanctions, because President Putin has gone out and found new markets in Asia, India, Asia. He’s still selling all the oil that he can produce and all the natural gas. And Europe is buying his LNG, though, and they’re also buying his natural gas via the Turkstream pipeline. Now, what happens if President Trump does fire up the Nord Stream? I’ve said this for a while, there’s rumors running around out there. Don’t know if any of them are true or not. I’d find it interesting if President Trump did buy Nord Stream or if an American company and he helped broker the deal, because then he could help get Germany back on its feet without the low cost natural gas. Germany is really handicapped in the business world and you’re going to see a lot of businesses in Germany fail if the end of this war does not happen soon. [00:05:27][131.5]

Stuart Turley: [00:05:28] Let’s go to Texas. Texas seeks a balance of AI growth and grid security. Texas is projected to need the equivalent of 30 nuclear reactor plants by 2030 to meet the electricity demands of new data centers. The Electric Reliability Council of Texas, ERCOT, has received requests for new grid connections that far exceed current capacity, posting reliability risk. Concerns are about the total cost of infrastructure expansion and how it will be distributed among different consumers. This is very interesting, especially when you consider that the new Stargate AI data center in Abilene, Texas has its own natural gas power plant. Now I’ve been going through the numbers and as of last week, I was looking at the numbers and it looked like Texas was capable of meeting its demand with its budgets in natural gas. Now would it need some nuclear after five years from now? Absolutely, but it’s going to be a lot longer than five years to get some nuclear power plants onto the grid. So fortunately they have the capability and the budget right now for throwing up a lot of natural gas power plants. So Urquhart said it’s gotten requests to 99 gigawatts for new connections from the gear from big power users, including data centers, Bitcoin miners and hydrogen producers. According to an internal grid presentation, that’s up from 40 .8 gigawatts last March. Holy smokes. People want to go to Texas. Why do people want to go to Texas? It’s not just cowboy hat, even though I look pretty good in mine. But when you sit back and take a look, it’s the overall business environment is good there. And we do have a problem with a lot of Texas politicians in the Texas House, as well as in the US Congress from Texas, having left leaning people in Congress, we need to start voting them out. They’re not Texacans, they don’t act like it. That’s just my personal opinion. But well,. [00:07:44][136.2]

Stuart Turley: [00:07:44] Let’s go on to the next story here. Is net zero worth the price? The UK’s net zero efforts have conceded with a decline in electricity availability and a rise in energy prices. Hmm. Isn’t that a shock impacting both businesses and consumers? They are D industrializing right now. Starmer is leading them off of a cliff like a lemming. The energy secretary, Ed Milbrand repeats a mantra every opportunity, clean energy and net zero equals good job and economic growth. And I don’t know what he’s smoking, but it is not tobacco. He is echoed in this article by faith, by an entire industry, and the people in private spheres have thrown their lot in with clean energy drive, whether through opportunism or conviction. But what if they’re all wrong? He concludes that the UK’s decarbonization effort so far resulted in weak economic growth and high energy prices, stagnant productivity, and no significant impact on global emissions. That sounds like somebody’s been listening to our podcast, or maybe not. But it’s kind of fun when you sit back and take a look at it. Net zero in its current technological state is not going to happen. Now, is it going to happen someday? It might, but we’ve got to have some new technology. [00:09:13][88.6]

Stuart Turley: [00:09:14] US crude stockpiles, our last story today, stockpiles climb as oil prices tumble below $70. I just want to give Steve Reese and his folks a shout out. Steve has sent me a note and they’ve got some fantastic things going on going on out there and it is incredible. If you are a data center, if you are in the business of looking for a power plant, I would contact Reese Consulting, Steve Reese or reeseenergy Go out and check them out now. They can do cradle to grave solutions and consulting, and they are very important in the United States energy markets right now. In fact, I’m so thrilled to have gotten to talk to Steve about even his Germany endeavor where he can guarantee LNG from the field all the way to Germany. It’s pretty darn cool. But this story, U .S. crude stockpiles climb as oil prices tumble below 70 bucks. This is off of oil price by Julian Geiger over at Oil Price. Crude oil inventories in the United States saw an increase of 36 .3 .6 million barrels during the week ending February 28 from the United States Information Administration, the EIA. crude oil prices were down considerably. And for middle distillates, the EIA estimates inventory decrease of 1 .3 million barrel for the last week, production averaging 5 .2 million barrels daily. This compares to the inventory increase of 3 .9 million barrels for the week prior. Total product supplied over the last four weeks decreased to an average of 20 .2 million barrels per day, excuse me, a 3 .4 increase over this time last year. So I think that we are going to be seeing some really, I wouldn’t want to bet on things right now because we don’t know how the markets are going to play out because as President Trump weeds through the tariff, or right sizing, I’m calling them tariff right sizing because the rest of the world has been tariffing the United States and we’re just now starting to tariff them. This is called right sizing. And I really respect President Trump for what he said. Bear with me, it could be a little bumpy. I’ll deal with a little bit of bump to get some right sizing. And with everything that he’s got going on, I’ll tell you what, I couldn’t be happier. This is exactly what I voted for. [00:11:55][161.3]

Stuart Turley: [00:11:56] We do appreciate all of our great listeners. If you want to find out more information, go to the energy newsbeat .substack .com, go to energynewsbeat .co or .com. And we really want to hear from you. Check it out. And if you are an industry leader, please reach out. I’d love to interview on the podcast. Just finished out a fun one with about the Land Man episode with a Land Man movie producer and David Blackman. It was a lot of fun. Doug Sandridge and Mark Strandsberry. So Eddie, have a great day. We will talk to you guys soon. [00:11:56][0.0][702.9]

The post Trump’s Energy Focus appeared first on Energy News Beat.

 

Australia’s Green Energy Strategy Is Misguided, Misplaced, And Dangerous

Energy News Beat

Australia’s green energy push puts turbines and solar in the wrong places, ignoring local needs, job creation, and environmental impacts.

cartoon australia green nimbyism
Why are we always putting green energy assets in all the wrong places?

The main electricity demand comes from big cities and their industries, so the electricity generators should be nearby, thus reducing capital costs and transmission losses, and supporting local jobs. [emphasis, links added]

Why put wind turbines, access roads, and power lines in rural and remote areas where there is little demand for electricity, where neighbors hate them, and where they destroy forests, wipe out resident eagles, and start bushfires?

And of course, it is foolish to locate wind turbines anywhere along the cyclone coasts of Queensland, Northern Territory, or the Kimberly coast in Western Australia.

Given the Green/Teals love of wind energy, let’s put turbines on every hill or open space in electorates that support green energy, like Ryan in Brisbane, Warringah in Sydney, Kooyong in Melbourne, and Canberra, Australia’s Federal capital.

Green children will benefit as the turbines clear their green spaces of aggressive magpies and noisy crows instead of de-winging or de-capitating innocent wedge-tail eagles and other bush birds and bats.

And why plaster remote grasslands with solar panels that smother the grass and need long transmission lines that upset the locals? And why try to gild them by calling them wind and solar “farms” – they are totally anti-farming.

Cities should generate green power within their cities from every rooftop, stadium, factory, and railway station. Greens in Canberra would surely support the installation of a big wind turbine atop Parliament House and floating solar panels on the Molonglo River.

(But the problem there is that Canberra has more politically active NIMBYS than real communities with real jobs and real worries.)

And of course, there is the big problem that the solar energy union goes on strike from sundown to sunrise every day and refuses to work in rain, fog, or overcast days.

The wind energy union is far less predictable, and their strikes can last far longer. So to power windless nights or cloudy days, big batteries or stored hydro are essential, preferably located close to the cities that need the power.

But battery fires are not uncommon, and they are very hard to extinguish. So big batteries should be located beside every fire brigade shed, starting in Fairfield (the Sydney electorate of Australia’s Energy Minister Chris “Blackouts” Bowen).

No other economy has demonstrated that [net zero] will work without an established safety net of nuclear, hydro, coal, gas…

Every university should also install a big battery near their Chemistry Department so students can study the chemistry of lithium battery fires.

For ages now politicians have been trying to rush motorists into electric vehicles before there are enough charging stations or green energy to power them.

Some sneaky bureaucrats have a hidden agenda here – use smart metering to enable them to drain the batteries of electric vehicles to support the grid when wind and solar are on strike.

So instead of their car battery being charged overnight, morning commuters may find their batteries drained overnight to keep lifts, hospitals, trains, and street lights working.

The universities are great supporters of green energy so let’s make sure there is a big wind turbine outside every physics department – their PhD students can study seasonal and daily variations in wind speeds and the effects on electricity generated.

They can also study the harmonics of turbine noise and its effect on humans, whales, and other animals.

As the panels and turbines have a limited life, economics undergrads can study the feasibility of recycling wind turbine blades and solar panels. They can also study the green jobs created by using non-polluting crowbars and shovels to dig big holes to bury them.

But the biggest problem with green energy is that we have ignored the sage advice given by President Xi Jinping in 2024:

“Make sure to establish the new before abolishing the old.”Source

Our green politicians are forever demolishing coal-fired power before demonstrating that our cities and economy can survive on wind, solar, and big batteries.

No other economy has demonstrated that this will work without an established safety net of nuclear, hydro, coal, gas, or accommodating neighbors with long extension cords.

For Australia, “net zero” is a negative sum game – an economic suicide pact.

PS: Australia’s first wind-powered generator is closing down. It will leave ruined farmland behind it.


Viv Forbes is a scientist and economic analyst who understands the importance of well-located cheap reliable energy for consumers, factories, smelters, and refineries.

 

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