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Deindustrialization in Germany

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Germany must act immediately to stop deindustrialisation, union urges

February 5, 2025 Mariel Alumit

  Urgent action is required if Germany, Europe’s former industrial powerhouse, is to overcome its economic turmoil and prevent the deindustrialisation that has already seen thousands of job cuts, the deputy chief of the country’s […]

Making sense of Trump’s tariffs, what should the EU expect?

February 5, 2025 Mariel Alumit

Podcast by Charles Cohen, Giada Santana, Niels de Keukelare After Canada, Mexico, and China, the EU could be the next in the firing line. Donald Trump says EU tariff could be levied on the continent […]

Zelensky admits Ukraine doesn’t control rare-earths Trump wants

February 5, 2025 Mariel Alumit

Kiev should trade its natural resources for further American aid, the US president has recently said Ukraine’s supporters must help push Russian forces out of the mineral-rich former territories of the country before investing in […]

Highlights of the Podcast

00:00 – Intro

01:49 – Two year review exposes Germany’s climate policy fog

02:23 – Germany must act immediately to stop deindustrialisation, union urges

05:26 – Making sense of Trump’s tariffs, what should the EU expect?

07:40 – Zelensky admits Ukraine doesn’t control rare-earths Trump wants

14:56 – Markets Update

15:50 – EIA: Crude Oil Inventory Report

17:52 – Outro

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

Michael Tanner: [00:00:10] What’s going on, everybody? Welcome into the Thursday, February 6th, 2025, edition of the Daily Energy News Beat Standup live from Nape. Here are today’s top headlines. First up, a two year review. Exposes Germany’s climate policy flawed. We’re going to stay over in Germany and talk about how they must act. Immediately. To stop deindustrialization, according. To the. Union. Next up, making sense of Trump tariffs. What should the EU expect? And then a follow up story that we talked about on yesterday’s show. Zelensky admits Ukraine doesn’t control rare earth minerals that Trump wants. That is super interesting. I will then jump over and quickly cover everything in the oil and gas finance space prices kind of fell off a cliff today, mainly due to the fact that the EIA came out and dropped a crazy report. We talked yesterday about what the guesstimate was. Well, it’s a lot worse than we would have expected. I will cover all that and a bag of chips. Guys, we are here live from Nate Guest host. Again, two shows in a row. RT Trevino. He’s not quite sick of us yet, but he might be. [00:01:14][63.8]

Rey Trevino III: [00:01:14] You know, I tell you what. What a day. Again, at the end gear today, as we said yesterday, the energy is just off chain. We’re actually here all the more. So shout out to either genius be to say it’s still near there at this session. The producer of before the things that they’re doing is just unbelievable. So you guys out there, the. Reach that you. Guys have is literally worldwide. And it’s just just great to be back. And what again, a great time to be here in Houston, one of the energy hubs of. [00:01:44][29.6]

Stuart Turley: [00:01:44] All right, well done. Let’s hear for our RT, everybody. [00:01:47][2.6]

Michael Tanner: [00:01:48] Absolutely. [00:01:48][0.0]

Stuart Turley: [00:01:49] Hey, I’ll tell you what. Let’s go to this first story here. This really exemplifies all of the bad things about climate change, climate policies. Wait a minute. Quick. Who’s that over there? It’s a polar bear. No, Kerry, it’s not going to happen to here. Review Exposes Germany’s Climate Policy Fog. If you invest in the climate policy issues, what happens? You go broke. You go broke. And it is right here. And it is absolutely hysterical and it is not happening. Let’s go to the next story here. And it’s really showing that that is truly Germany must now act to stop. The unions are all lined up in the the problem that they’re having. Germany must act immediately to stop deindustrialization. The unions are calling for it. Wait a minute. You’d now have no nuclear. You have they’ve had their fire, their coal back up and now we have no natural gas. Retro. If Scooby Doo was an energy policy, retro would actually be on their policy. [00:02:59][70.4]

Rey Trevino III: [00:03:00] You know, I want to say this. You know, this is two days in a row that you guys. Yeah. I think for your listeners out there, I think it’s very key. If he dies quickly, why exactly? We need to be focused on what you’re doing and how America can be better at that. As I’ll continue this focus on you say you bet it’s been a waterfall effect. [00:03:18][17.8]

Michael Tanner: [00:03:18] Yeah, well, a lot of it’s because Europe is a net importer of of energy. And so if they are a net importer of energy, the question is where are they going to get energy? We talked years ago or last year, the big topic was Qatar. The Middle East was setting up huge import export, you know, 30 year agreements with Europe and now then with Nord Stream. That happened last year with the Ukrainian SEALs coming in and taking them out. It’s a joke. They definitely it was definitely the United States. I was probably U.S. eight. It was probably funded by U.S. But the reason why it’s so important is because it could tar can’t quite in all of these Middle Eastern countries either stop supplying or the supply goes dry if the United States can’t step in. And I think that’s what Trump is counting on and what the United States LNG market is counting on is that Europe is going to be a huge, huge net importer. [00:04:04][45.6]

Stuart Turley: [00:04:05] Absolutely. So the the G medal represents 2.2 million workers from sectors including the car manufacturing, steel, electronics. And your point is very valid. Why does Germany matter? So goes Germany’s economy, so goes the EU. But guess who is imitating Germany, New Jersey, New York, California? All of the green energy policies are following right in line. And so your point is out of the park. Huge for this. The union’s deputy leader told Euro TV that the EU and incoming government can still stop the job losses. The only way and you’re here, they heard this here. Second, the only way they’re going to stop that is if they get low cost natural gas from Russia. Yeah. And that is Now can they get the higher cost LNG from the US? Absolutely. Can we do it at the best possible way? Yes. The risk consulting group have cradle to grave solution going. From LNG all the way to Europe. But can even the Russian natural gas solve their problem? [00:05:16][70.7]

Michael Tanner: [00:05:16] No, no. All right. Let’s move to the next one. Okay. The next one here making sense of Trump tariffs. What should you expect from the EU? What should we expect? [00:05:25][8.9]

Stuart Turley: [00:05:26] Well, they are going to try to ruffle their feathers up and pass up kind of like a little bit of a turkey going and nope, they’re not going to happen. So after Canada, Mexico and China, the EU could be next in the firing line. Donald Trump says EU tariffs could be leveled at the continent any time soon, and they have not been very nice to trading partners to the United States. [00:05:48][22.6]

Michael Tanner: [00:05:49] So they’ve. [00:05:49][0.2]

Stuart Turley: [00:05:49] Gone out. Tariffs are all about bringing equal again. Do you see many forwards driving around Germany? [00:05:56][6.8]

Michael Tanner: [00:05:56] No, I don’t. We see a lot of I mean, not that I’m in Europe that often, so I can’t really say. [00:06:00][4.1]

Stuart Turley: [00:06:01] But here’s the real thing about that is if there was a way for us to ship things. LNG is the number one export that they’re going to want. [00:06:09][8.6]

Michael Tanner: [00:06:10] I agree. I mean, it really is in in in our T. What’s your take on this? You know, we talked a little bit about tariffs yesterday. Do you think you should have a tariff? [00:06:17][7.7]

Rey Trevino III: [00:06:18] Honestly, I feel so bad for the EU right now that now they’re at a point, guys. I mean, I’m not trying to be funny, but again, going back to the policy that it may not be 40 years, not in the 50 year in the last 15 years or less, that you have the European Union, which is a great idea. I understand it. We want the nomination easier here. We have more of Europe. You bet. These policies of getting rid of mutual, getting rid of thing and they are becoming close to a third world country to where it’s not fair to put these tariffs on. Now, that being said, it’s not fair. You got to pay for buckets of it sometimes to finance your, you know. So, yes, I understand. Yeah. You think they probably you. [00:07:03][45.0]

Stuart Turley: [00:07:04] I think you’re spot on. And I think that the EU will fail under their current policy path right now. We’re also looking at NATO’s failings. So when you take a look at NATO’s failing and the EU failing, this is absolutely huge. And President Trump said the other day he’s going to start talking to countries individually and not even talk to the EU. Holy smokes, Batman. [00:07:29][25.6]

Rey Trevino III: [00:07:30] Look at it this way. When you want to do a deal with a lot easier to get a deal, don’t have 30 people in a room. Will have the one decision. [00:07:35][5.2]

Michael Tanner: [00:07:36] You are the one decision maker. Absolutely. [00:07:37][1.6]

Stuart Turley: [00:07:38] You bet. All right. [00:07:39][0.7]

Michael Tanner: [00:07:39] Let’s go to the next one. [00:07:40][0.6]

Stuart Turley: [00:07:40] Zelinski admits Ukraine doesn’t control rare earth minerals. You know what? That guy is absolutely a he’s a quite an actor. Have you seen some of his early acting? [00:07:52][11.6]

Michael Tanner: [00:07:52] I haven’t gotten around to watching. [00:07:53][1.1]

Stuart Turley: [00:07:54] My goodness. He is a friend. Okay. But rare earth minerals, 17 elements valued for their magnetic and electrochemical properties are used for smartphones. EVs. Last week, Trump suspended all U.S. aid programs and U.S. agency fund projects through humanitarian aid. This is a quote. We have enough rare earth minerals, but Russia has our occupied land since 2014, Zelensky said on Tuesday in Kyiv, responding to Trump. We’re open to them being developed by our partners who help us defend the land, push back the enemy with their weapons and presence and sanctions. And this is absolutely fair. It is not going to happen. President Putin again has now what he is going to keep. He is going to keep the land bridge of Crimea that he took under the Obama administration. Why did he take that land bridge? It’s about chokepoints. It’s about land, air, sea power. And he’s now got the pipeline control coming in from Turkstream, the Baltic and everything else. It’s about low cost natural gas. It’s about now he has eight sub bases and other water ports. There is no way he’s giving that land up. He’s going to keep that land now. [00:09:10][75.9]

Michael Tanner: [00:09:10] Absolutely. I think the real question is this quote that he talked about, which was we have enough rare earth minerals, but Russia has occupied our land since 2014. What I thought it was just since the invasion. What’s he talking about? 2014? [00:09:22][11.4]

Stuart Turley: [00:09:23] That was when he took Crimea. [00:09:24][1.8]

Michael Tanner: [00:09:25] The minerals aren’t just in Crimea. They’re everywhere. [00:09:27][2.1]

Stuart Turley: [00:09:28] There. Well, there he is. He’s playing. [00:09:30][2.4]

Michael Tanner: [00:09:31] The you. I know he is. It just it’s so obvious to see if I can see it. Everyone can see you. [00:09:36][5.3]

Stuart Turley: [00:09:36] Look at it. [00:09:36][0.3]

Rey Trevino III: [00:09:37] I wish that. I wish that if you can see it Now, granted. Let’s talk about you. I don’t know how much to talk about you on this show, but you know, you’ve got an undergrad, you’ve got an MFA. You’re not you know, you’re very small doubt for me. On the other hand, you know, so, you know, he’s playing, you know, kind of like what we talked about yesterday, right. Whose game things we have now. His long term. Whoa. Interesting, right? It’s like, hey, you know what? These fights is 2040. Life. And the whole goal here is you look at this entire region, this entire region used to be part of what the. Makes me me like less than 40 years ago. What will all that are? And what was President Bush? One of the best for members out here. You know, I love I love talking about like all the you know. You know, all these things that you go all of your life and waking up do great there. But what he’s really trying to do a my opinion right now is say, hey, you want to draw these, you have to come over here to basically physically get involved in the war and come take my face off yesterday and off the street. You want to work? [00:10:43][66.5]

Stuart Turley: [00:10:44] No, no, no, I didn’t. I did not have guys a largo on my my my bingo card. Guys like. [00:10:53][8.9]

Rey Trevino III: [00:10:53] Trump. We see you know. [00:10:54][1.1]

Stuart Turley: [00:10:55] I never thought that President Trump. And then when you saw him interviewing Netanyahu, Netanyahu’s head was spinning around on that one. I did not see that one coming. [00:11:06][11.0]

Rey Trevino III: [00:11:07] No, it’s pretty crazy. [00:11:08][0.9]

Rey Trevino III: [00:11:08] But it sets the example that Seth told me back to the Ukraine thing. It’s like, all right, we’ll come in and I mean, it’s like. [00:11:15][6.2]

Stuart Turley: [00:11:15] There’s no way President Trump is going to go fight for you know, he’s got Greenland sitting there. And then Germany has even announced yesterday that they’re willing to go to Greenland and defend it against the United States, Germany. You got to protect your jobs first. Don’t be going to Greenland. We’re going to go get the rare earth minerals. We will do it responsibly. [00:11:36][20.7]

Michael Tanner: [00:11:37] Yeah. No, and that’s one thing we talked about in the show all the time, that if you’re going to if you’re going to exploit natural resources, you’d rather the United States do it because we do it the cleanest and the most efficient in the whole world. [00:11:46][9.2]

Rey Trevino III: [00:11:47] Absolutely. Absolutely. You know, Mike, with everything going on with you know, we mentioned with President Trump, he’s doing right now what Ukraine trying to do, where the market’s up. [00:11:55][8.7]

Michael Tanner: [00:11:55] Well, we will get to that. But before we do that, we got to pay the bills. As always, thank you for checking us out here on the world’s greatest website www.energynewsbeat.com. The best place for all your energy and oil and gas news. Stu and the team do a tremendous job keeping that website up to speed everything you need to know to be the tip of the spear when it comes to the energy and the oil and gas business. We’d also like to shout out sponsor of the show Reese Energy Consulting. We mentioned them a little bit during the show. But if you guys if you’re in the oil and gas business, you are getting you’re not making as much in your net back as you think because you’re not using Reese Energy Consulting to go contact your natural gas midstream companies, not go contact your first your oil first purchasers and say, hey, we’re leaving money on the table. Give us a better deal. They’re going to come in. They’re going to completely redo the way you get paid. We love working with them. They’re awesome company guys. They’re actually here at Nate. So go check out that if you’re walking around, listen to this. Go check out them at their booth. They’re going to do everything. As Stu says. They’ll take you on into a large LNG project. Cradle of the Great. We love regenerative consulting. Also, guys, hit that description below for all links to the timestamps links to the article. Also, check us out on substack the energy news Beat that substack.com. Best way to support the show if you are so inclined to go ahead and give us a paid subscription. We really appreciate that. Thank you All our current paid subscribers. You guys are the reason we’re able to come down here today and do this. So we really appreciate that. And guys, we’re here at Nape. If you have been watching Land Man and you’re like, How do I become Billy Bob thought, How do I get into the oil business, guys? I promise you go to invest in oil.Energy News Beat.com. We will show you exactly how to do that. And on top of becoming Billy Bob Thornton from Land Man, here’s what you’re going to be able to do. You’re also going to get a sweet tax deduction for both active and passive income. You’re going to be able to have some sweet dividends. And again, you’re going to get to show up to parties and say, guess what? I’m an oil man. I mean, if it doesn’t get better than that, I don’t know what it is. We have a bunch of resources. If you want to get involved in the oil and gas business, go ahead and go to invest in oil energy. Newsbeat.com. You want to jump in? [00:13:52][116.2]

Stuart Turley: [00:13:52] We have a fact check. Fact check at May. He is true. My investment there is 32%. [00:13:58][6.4]

Michael Tanner: [00:14:00] It’s true we’ve done we’ve done great in our investments. Artie’s done even better on his investments. So trust me. Guys,. [00:14:06][6.3]

Rey Trevino III: [00:14:07] If I may, thank you for that. Yeah. What does that invest at? What? [00:14:10][3.0]

Michael Tanner: [00:14:10] Invest in oil.Energy, News beat.com. I got you can tell you. And I think you also get so what you let me do this but you mentioned Nathan Landman that I just want to let everybody know that Nate is a partner with the APL. The American Petroleum Landed fair for that show on Paramount. What does that say about what that what I’m only for? They don’t support part of this so I’ll support my show and sponsor Jeff They’ve actually had their hand in making sure that at least 10% of the content in that tool and what a great show, but a lot of it being shot here in the great state of Texas. Well, it’s not in the Hollywood, but, you know, if you haven’t, check out the show Land Man. Paxful and APL have also had their hand to get that. [00:14:50][39.9]

Michael Tanner: [00:14:50] So you’ve never been held up by the cartel? No, not yet. At least not yet, at least. [00:14:54][4.0]

Stuart Turley: [00:14:55] Well, yeah. Have you paid taxes? [00:14:56][1.0]

Michael Tanner: [00:14:56] Yes. All right. All right, guys, look, we check in here on the markets. S&P 500 and Nasdaq both basically flat today, up about a 10th of a percentage point on both of those indices. Two and ten year yield. Holy smokes got hammered. Two year yields down one full percentage point, ten year yields down 2.3 percentage points. Outlook on the is not great. Dollar index was down about a half a percentage point. We have see bitcoin fall another 1.2 percentage points to 96,627. Crude oil, two percentage points wiped off the indices, currently trading at 71. Down about $1.63 from yesterday. Brant only got hit about a half a percentage point, down about three $0.30 or a half a percentage point. Natural gas spiked about 1.5 percentage points, $3.33 an hour ago. Our EMP securities contract actually traded fairly flat today, only down about 0.07 percentage points at 130 707. And the big news of the day is that the EIA crude oil inventory report came out and absolutely hammered. So yesterday we ran about a 5.3 million barrel a build estimate by the API. Well, the EIA a little bit ago came out and said, nope, it was actually 8.7. So a net of about 3 million barrels over the estimate. And again, that’s what you guys need to look at. It’s not necessarily what the numbers are. It’s where the numbers are relative to both expectations when the when the API drops its numbers on Tuesday. But then also the spread between what the API thinks and what the EIA dropped. So big, big crude, our big, big drop there. Also, with the tariffs being dropped from Canada, we are kind of shaking some of that out. So that’s really what’s moving markets today. Otherwise, things have been pretty quiet on the M&A front. I think a lot of people are gearing up till after earnings season to make a big move, especially being so close to earnings season. I think we’re seeing a little bit of that, a kill trough. I do think during the summer we will see things kick back up, especially if we see prices drop a little bit more, especially if we see $65 oil. I think you might start seeing a few more deals get made at some of those lower price decks. But really, as I like to say, all quiet on the Western front today. Most everyone’s gearing up for NEP. Even the markets are taking it into account. What am I missing, guys? [00:17:00][124.0]

Stuart Turley: [00:17:01] If you are not ready for a roller coaster, holy smokes. You got Pam Bondi. You got everybody. Looks like Tulsi Gabbard is coming out of the good thing and she’s going to get. I tell you what, we are buckling up. And I did not again have guys a logo on my thing. Who knows what’s going to happen here, man. [00:17:22][21.7]

Rey Trevino III: [00:17:23] Guys, again, thanks for letting me do this again. That was real, Father again, If you haven’t ever checked out the facts, though, this is what happened. I thank you guys very much for having us back this year for our second year in a row. So this is our gift journey for the annual thing. Well, how fun. We’re right here. Just come on in to. I said, you’ll be able to be sit here and I’ll, you know quick shameless plug for three different shows The Crude Truth lineup. It’s a great interview. Absolutely. Yeah. You guys are just ready to go as well. Thank you. Yeah, but thank you. [00:17:52][29.2]

[00:17:52] Absolutely. Guys for RT Trevino. I’m Stuart Turley. I’m Michael Tanner. Guys, we will see you tomorrow at the nape expo. [00:17:52][0.0][1034.8]

 

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New LPG export terminal teed up in Texas

Energy News Beat

AmericasGas
KSOE

Midstream players ONEOK and MPLX will build a new 400,000 barrel per day liquefied petroleum gas (LPG) export terminal in Texas City, on the Gulf Coast which will also feature a pipeline connecting to ONEOK’s storage facility in Mont Belvieu, Texas.

The $1.4bn export terminal will be known as Texas City Logistics and ONEOK and MPLX will each own a 50% interest in the joint venture. MPLX will build and operate the facility, with construction expected to be completed in early 2028. 

“Given our high expectations for future growth and demand for more energy infrastructure, including export capacity, these projects with MPLX complement our disciplined capital allocation strategy,” said ONEOK’s president and CEO, Pierce Norton.

On the new terminal, analysts at Jefferies suggested: “This would provide some excess capacity for US exports where current constraints are impacting pricing across the LPG value chain (including VLGC spot rate potential).” 

The US has averaged 1.9m barrels per day of LPG exports recently against terminal capacity of 2m barrels per day. 

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Natural gas spot prices fell across key regional trading hubs in 2024

Energy News BeatNatural gas spot prices

annual natural gas spot prices at select trading hubs

Data source: Natural Gas Intelligence
Note: Prices are adjusted for inflation based on the December 2024 Consumer Price Index.

Average natural gas spot prices at most major trading hubs in the Lower 48 states declined in 2024 compared with 2023 in real terms, according to data from Natural Gas Intelligence.

Inflation-adjusted natural gas prices in the Northeast at Algonquin Citygate and Eastern Gas South averaged 32 cents per million British thermal units (MMBtu) and 6 cents/MMBtu lower in 2024, respectively, and western prices at Northwest Sumas and SoCal Citygate averaged $2.51/MMBtu and $4.55/MMBtu lower compared with 2023, respectively. In West Texas, prices at the Waha Hub near Permian Basin production activities traded below zero for 42% of trading days in 2024 as natural gas production from the Permian Basin outpaced available pipeline takeaway capacity. The Matterhorn Express Pipeline, capable of carrying 2.5 billion cubic feet per day from the Permian Basin to demand centers on the Texas coast, entered service in October 2024 and helped clear some of the regional production bottleneck. Since mid-November the price at the Waha Hub has been more than zero.

Prices at regional trading hubs decreased last year primarily because of relatively high natural gas inventories in each of the storage regions, sustained U.S. natural gas production, and mild winter temperatures. Because of relatively warm winter temperatures, particularly in the Northeast and Midwest (the largest consumers of natural gas for space heating), regional natural gas storage levels remained above the five year (2019–23) average for most of 2024.

Spot natural gas prices at the Henry Hub in Erath, Louisiana, which serves as the U.S. benchmark, averaged $2.22/MMBtu in 2024, the lowest average annual price in inflation-adjusted dollars ever reported.

Principal contributor: Andrew Iraola

Tags: spot prices, natural gas, map

Source: Eia.gov

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Rarely used oil, coal helped power New England during recent cold snap

Energy News BeatNew England

Hourly electricity generation in the Northeast Independent System operator

Data source: U.S. Energy Information Administration, Hourly Electric Grid Monitor
Note: EST=eastern standard time

Below average temperatures in the eastern United States during the week of January 19, 2025, resulted in high demand for electricity. On January 21 at 6:00 p.m. eastern time, ISO-New England (ISO-NE), the organization operating an integrated grid in Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut, recorded peak hourly demand of 19,600 megawatts (MW). Although demand was elevated, it was lower than the 20,308 MW that ISO-NE forecast peak demand would be in its 2024/2025 winter assessment published on November 7, 2024. Temperatures were more moderate in New England than in the Midwest, which tempered electricity demand somewhat in New England.

Although the grid had sufficient generating capacity to satisfy demand, a significant share of that supply came from sources that rarely operate. The grid required running older thermal generating plants that burn oil and coal. Between the hours of 11:00 a.m. and 4:00 p.m. eastern time on January 20, 2025, and between the hours of 10:00 a.m. and 1:00 p.m. on January 21, 2025, thermal plants that burn oil provided more electricity to the ISO-NE electricity grid than plants that burn natural gas, which is relatively uncommon. On January 21, 2025, the same group of thermal plants in ISO-NE provided more than 4,000 MW of electricity per hour to the grid between 7:00 a.m. and 11:00 p.m. At the same time, one of the two remaining coal-fired plants that burns coal in the region, the Merrimack facility in New Hampshire, supplied close to 300 MW to the grid from the evening of January 19 to the morning of January 25.

Oil and coal offset curtailed generation from natural gas-fired power plants from January 18 to January 22. Prices for natural gas were high, and supplies were short during this period because of more demand for natural gas from other consumers, such as homes and businesses. Later in the week, more natural gas was made available, including supply received from a liquefied natural gas (LNG) import terminal in Everett, Massachusetts. This supply helped boost generation from natural gas-fired power plants beginning on January 22.

Two other major sources of electricity in New England were steady suppliers during the cold snap. The region’s three nuclear reactors steadily provided 3,350 MW of power throughout the period, joined by consistent imports of power from Canada. At 11:00 p.m. on January 18, imports of electricity from Canada surpassed 4,200 MW and averaged 2,886 MW per hour between midnight on January 18 and midnight on January 26.

Principal contributors: Kimberly Peterson, Sue Smith

Tags: oil/petroleum, coal, electric generation, electric power grid, New England, Northeast, ISO (independent system operator)

Source: Eia.gov

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U.S. coal exports reached a six-year record in June 2024

Energy News BeatU.S. coal exports

monthly U.S. gross coal exports

Data source: U.S. Energy Information Administration, Short-Term Energy Outlook

Gross U.S. coal exports in June 2024 totaled 10 million short tons, the most in a month since October 2018, data from our Short-Term Energy Outlook data browser show. Annual average U.S. coal exports were 9.0 million short tons in 2024. U.S. coal exports have increased each year since 2020, when they averaged 5.8 million short tons amid the COVID-19 pandemic.

U.S. coal exports consist of both steam coal and metallurgical coal that are produced in the United States and sent to other countries. Steam coal, also known as thermal coal, is used by coal-fired power plants to generate electricity and by consumers to heat their homes or businesses. Metallurgical coal is used mainly to produce steel, so demand for metallurgical coal closely follows demand for steel.

In our Short-Term Energy Outlook, we forecast that U.S. coal exports will exceed 10.0 million short tons in only two months during 2025 and 2026—in December of each year.

Principal contributors: Kimberly Peterson, Kristen Tsai

Tags: coal, exports/imports

Source: Eia.gov

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U.S. nuclear generators import nearly all the uranium concentrate they use

Energy News Beaturanium

U.S. uranium supply to commercial nuclear reactors

Data source: U.S. Energy Information Administration, Monthly Energy Review, Domestic Uranium Production Report, and Uranium Marketing Annual Report

In 2023, U.S. nuclear generators used 32 million pounds of imported uranium concentrate (U3O8) and only 0.05 million pounds of domestically produced U3O8. Imports accounted for 99% of the U3O8 they used in 2023 to make nuclear fuel. Foreign producers predominantly supply the U.S. front-end nuclear fuel cycle, but federal policies have been implemented recently to build out the domestic U.S. nuclear fuel supply chain. The U.S. Department of Energy (DOE) recently received $2.7 billion in congressional funding to help revive domestic fuel production for commercial nuclear power plants.

U3O8 is chemically extracted from uranium ore that has been mined and milled. The fine powder is packaged in steel drums and later enriched and processed further to prepare it for use as fuel in nuclear reactors. U.S. production of U3O8 in the third quarter of 2024 totaled 121,296 pounds, a 24% increase from production of 97,709 pounds in the second quarter. Production in the third quarter occurred at five U.S. facilities: three in Wyoming (Nichols Ranch ISR Project, Lost Creek Project, and Smith Ranch-Highland Operation) and two in Texas (Alta Mesa Project and Rosita).

In 2023, the United States imported U3O8 and equivalents primarily from Canada, Australia, Russia, Kazakhstan, and Uzbekistan. The origin of U3O8 used in U.S. nuclear reactors could change in the coming years. In May 2024, the United States banned imports of uranium products from Russia beginning in August, although companies may apply for waivers through January 1, 2028.

origin country of uranium purchased for U.S. commercial nuclear reactors

Data source: U.S. Energy Information Administration, Monthly Energy Review, Domestic Uranium Production Report, and Uranium Marketing Annual Report

More information regarding U.S. uranium production and sourcing is available in our Domestic Uranium Production Report and Uranium Marketing Annual Report.

Principal contributor: Slade Johnson
Data visualization: Kristen Tsai

Source: Eia.gov

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Electric power sector has driven rising Pennsylvania natural gas consumption since 2013

Energy News BeatPennsylvania

monthly electricity generation by source in Pennsylvania

Data source: U.S. Energy Information Administration, Form EIA-923, Power Plant Operations Report, Monthly Generation by State

Natural gas-fired electric power generation has increased in Pennsylvania since 2013 as the state has shifted toward natural gas as its main fuel source for electric power generation. In October 2024, natural gas-fired generation accounted for 57% of the electricity generated in Pennsylvania, more than twice the share in October 2013 (26%). Over the past decade, natural gas has become the primary fuel source for electricity generation in the state, surpassing coal-fired generation in 2016 on an annual basis and nuclear-powered generation in 2019. Natural gas-fired generation reached an all-time monthly peak in Pennsylvania of 15.3 million megawatthours (MWh) in July 2024, as hourly electricity demand peaked across multiple regions of the Lower 48 states due to widespread heatwaves.

From 2013 to 2023, fuel consumption for electricity generation in Pennsylvania shifted from mostly coal to natural gas. Pennsylvania sits on top of the Marcellus shale play within the Appalachian Basin where dry natural gas production has more than doubled in the past decade. Dry natural gas production in Pennsylvania increased from 8.9 billion cubic feet per day (Bcf/d) in 2013 to 20.8 Bcf/d in 2023, as the cost of natural gas fell compared with other energy sources. In addition, power generators in the state made investments in new technologies that increased the efficiency of natural gas as a source of power generation such as combined-cycle gas turbines, which use heat from natural gas turbines to run steam turbines to generate power from both.

More power is now generated in Pennsylvania than is consumed, prompting generators to send surplus electricity to other states. In 2023, power companies in Pennsylvania sent more electricity outside state borders than companies in any other state in the country, moving 83.4 million MWh to neighboring states.

annual natural gas consumption in Pennsylvania by end user

Data source: U.S. Energy Information Administration, Natural Gas Monthly

Rising natural gas consumption in the electric power sector was the primary driver of increased use in Pennsylvania over the past decade. In 2013, natural gas consumption for power generation averaged 1.0 Bcf/d. Natural gas use in the electric power sector more than doubled since then, reaching 2.6 Bcf/d in 2023, while use in the residential, commercial, and industrial sectors remained relatively stable. Total natural gas delivered to all consumers in Pennsylvania averaged 4.8 Bcf/d in 2024 through October, up from 2.6 Bcf/d during all of 2013.

annual natural gas consumption, top five consuming states in 2023

Data source: U.S. Energy Information Administration, Natural Gas Monthly
Note: PA=Pennsylvania, FL=Florida, TX=Texas, LA=Louisiana, CA=California

Between 2013 and 2023, natural gas consumption in Pennsylvania increased by 64% (1.7 Bcf/d), the largest percentage increase among the top five natural gas consuming states in the United States in 2023. In 2013, Pennsylvania ranked as the seventh-largest consuming state of natural gas in the United States, behind Illinois, Florida, New York, Louisiana, California, and Texas; in 2019, Pennsylvania ranked as the fifth-largest consuming state and has remained at that rank since then. From 2013 to 2023, natural gas consumption increased in all of the top five consuming states except California, where natural gas as a share of power generation has decreased by 15% since 2013 as the state has increased its share of renewables in its electricity generation mix.

Principal contributors: Grace Wheaton, Andrew Iraola

Source: Eia.gov

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Two year review exposes Germany’s climate policy fog

Energy News Beat

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China Tariffs LNG

Energy News Beat

Daily Standup Top Stories

China to impose tariff on US LNG

February 4, 2025 Mariel Alumit

China’s Ministry of Finance said in a statement on Tuesday that the US government announced on February 1 the imposition of a 10 percent tariff on all Chinese goods exported to the US, citing fentanyl […]

Trump demands rare-earth metals from Ukraine

February 4, 2025 Mariel Alumit

In exchange the US would continue to provide Kiev with support in its conflict with Moscow Kiev will have to supply Washington with rare-earth minerals if it wants to continue receiving American assistance, US President […]

South African minister calls for halt to mineral exports to US

February 4, 2025 Mariel Alumit

  South Africa’s minister of mineral and petroleum resources, Gwede Mantashe, has called on African countries to withhold mineral exports to the US. The comments come after US President Donald Trump announced plans to cut […]

New EPA Chief Lee Zeldin Targets Anti-Trump Bureaucrats, Vows to Fill Key Roles

February 4, 2025 Mariel Alumit

New EPA chief Lee Zeldin vows to cut bureaucrats undermining Trump’s agenda and ensure key agency roles are filled with committed staff. Environmental Protection Agency (EPA) Administrator Lee Zeldin told reporters at agency headquarters Friday […]

Hapag-Lloyd wraps up financing for 24 LNG-powered containerships

February 4, 2025 Mariel Alumit

Hapag-Lloyd said on Tuesday that the financing will be carried out on the basis of its “green financing framework” for the order placed in October last year. Yangzijiang Shipbuilding will build 12 vessels each with a capacity […]

Highlights of the Podcast

00:00 – Intro

02:58 – China to impose tariff on US LNG

06:29 – Trump demands rare-earth metals from Ukraine

07:21 – South African minister calls for halt to mineral exports to US

09:15 – New EPA Chief Lee Zeldin Targets Anti-Trump Bureaucrats, Vows to Fill Key Roles

11:16 – Hapag-Lloyd wraps up financing for 24 LNG-powered containerships

14:59 – Market Updates

17:03 – U.S. API Weekly Crude Oil Stock

20:04 – In win for Trump, oil giant Shell walks away from major New Jersey offshore wind farm

24:19 – 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.

Michael Tanner [00:00:10] What’s going on, everybody? Welcome into the Wednesday, February 5th, 2025, edition of the Daily Energy News Beat Stand up. Here are today’s top headlines. First stop, China to impose tariffs on U.S. LNG. Tariffs are back after Canada and Mexico waive 25 minutes into tariffs. Now, all of a sudden, China’s in order. We will cover it all. Trump then demands rare earth minerals from Ukraine. We got to go get that money. It’s exactly what Lindsey Graham said. Next up, South African minister. Calls for halt.

Michael Tanner [00:00:44] To mineral exports to the US. Guys, it’s getting spicy out there. Next up, new EPA chief Lee Zeldin targets anti-Trump bureaucrats, vows to fill key roles. And then finally, I’m going to mess this name up, Hap Dong Lloyd. LNG powered container ship wraps up financing for 24 of them. Pretty unbelievable tool. Well, then toss it over to me. We will then quickly cover what’s going on in the oil and gas markets mixed today. For oil up it was down kind of mix of tariffs mix of not we also then we’ll quickly cover the API crude oil inventory guesstimate which dropped at about 330 local time. And then finally, in a win for Trump. Oil giant Shell walks away from major New Jersey offshore wind farm in a massive win for the whales and a massive L. For myself, as always, I am Ilhan Omar, joined by Stuart Turley and special guest Ray Trevino. Super excited to have you, man. We’re down here at Nate. Thanks for joining us.

Rey Trevino III [00:01:44] My gosh. Thank you both so much for having me on. A what a world when it’s already been down here at Nabe. I tell you what, the energy here in Houston is just so high. It’s so different than it was just last year. And I think it actually honestly, it has to do with the fact that Donald Trump is president and everybody’s already walking around this town with a pep in their step. I tell you what, it’s just been amazing.

Michael Tanner [00:02:06] No, we’re fired up. We’re fired up.

Rey Trevino III [00:02:08] If I may. Speaking of fired up, you two. My gosh. I enjoyed yesterday’s episode. I mean, for those out there, I hope you all go back and listen to February 4th episode. That was yesterday. You two got into it. I loved it. But I do have to agree with Stu on that, that, hey, you know what? Levy What’s his face? Get in there. The Doge guy.

Michael Tanner [00:02:28] Elon Musk.

Rey Trevino III [00:02:30] Elon Musk. Get in there because I need to know where all this money is going. And I love that one. Senator the other day, that put a real good spin on it, which is yes, but that only constitutes for 1% of the vote. Still, though, $40,000 to somewhere. Give me a break. But anyway, so I recommend to all the listeners out there, if you had not gone back, listen to yesterday’s episode. I can’t believe I got you to sit next to each other the way they did yesterday.

Michael Tanner [00:02:53] Live in person. Baby,.

[00:02:54] You’re in striking.

Michael Tanner [00:02:55] Just absolutely. Go ahead and kick us off to where do you want to begin?

Stuart Turley [00:02:58] Okay, let’s start with China to impose tariff on US LNG. This also went out on your Substack. Yes. Hey, the Chinese Ministry of Finance said in a statement Tuesday. The US government announced that February 1st the imposition of 10% tariff on all Chinese goods exported to the US, citing fentanyl shipments and other things. Guess what their response was. We are going to tariff LNG. Yeah.

Rey Trevino III [00:03:25] I tell you what they imported the most they ever have charged in the last year alone and they’re geared up instead of, mind you, to even buy more in 2025. Let’s see how good this economy really is and see how long. Because as Michael Chandler mentioned in the intro there, you know, Canada, Mexico came pretty darn quick.

Stuart Turley [00:03:43] They did. Yeah.

Michael Tanner [00:03:44] Well, the difference with China is their power demands are you know, here in the States, we produce about 13 million barrels of crude oil and we consume about 21. So we are a net importer and we actually import a lot more relative to what we export due to the different blends. We do get a lot from candidates. Part of the reason why can’t it came so quickly is because we buy a lot of their Canadian oil sands crude China. It’s about double what we are right So they are a huge net importer meaning okay, great, you’re going to tariff off here. They could claim quick. They now they have a little bit an easier job to sustain this. But as we’ve talked about on the show, Stu, a lot their economies not doing great.

Rey Trevino III [00:04:21] No, no. And, you know, I like how you brought up the fact that we’re producing somewhere between 13 to 14 million barrels of oil a day. And here in the great state of Texas, we just got our numbers for the month of October. I know in a few months we finally got I mean, actually, Texas produced 44% of all oil that was produced in America in October alone. So we’re doing a pretty darn good job and we really can’t complain. And don’t forget that Texas is as we go back into the story of the actual liquid natural gas, Saudi Arabia of the world. So I say bring it on. Like, you know, let’s see how long they can last. But I loved how one one individual from the world, from China said this was a violation of the World Trade Organization to put these tariffs on. It was like, give me a break, Stu. That’s not real, is it? No.

Stuart Turley [00:05:06] And in fact, they they how much do they actually buy? From the United States. They tariff anything anyway. So in fact, Canada has tariffs on the US right now on agriculture of 250%. So this is the tariff. All the tariff talk out there is hogwash. What we are seeing is a right sizing on the rest of the world. President Trump go forth and tear, you.

Rey Trevino III [00:05:31] Know, and he’s expected to speak to the president of China here real soon, if I’m correct. So what a.

Michael Tanner [00:05:38] Concept. World leaders talking to each other.

Stuart Turley [00:05:41] But as judging being just had a potential alleged stroke I just heard this Sunday and so that he is had the CCP has removed him from control from the military. So there are some things going on over there.

Rey Trevino III [00:05:55] Interesting, if I may, you’re always enjoy listening to this show. You know, your other shows, you get to watch these at the same time. But when you do your quotations by usually when you say you just go out, say it’s a conspiracy theory, but when you do in quotations, is that also mean? Yes.

Michael Tanner [00:06:09] Unsubstantiated but.

Stuart Turley [00:06:11] Embellished. But it was Maria on Maria Bartiromo So yeah, yeah. In quotation around Maria I had not substantiated. Normally I had people call me from around the world. This was not a direct this was from Maria are.

Rey Trevino III [00:06:25] Interested in my Fox business I’m sure knows a thing, right?

Michael Tanner [00:06:28] Yeah, absolutely. All right.

Stuart Turley [00:06:29] What’s next? Let’s go to Trump demands rare earth minerals from Ukraine. You know you can’t buy this one. You know, Kiev will have to supply Washington with rare earth minerals if it wants to conceive, continue receiving energy if it wants to conceive, go figure that out. U.S. President Donald Trump told journalists on Monday Ukraine will need to enter into a new agreement. I’ll tell you what, President Trump, God bless him and he should back and go, We’ve given everything to Ukraine. And then we have the little short guy, what’s his name as Michael Tanner. Yeah, well, yeah, Michael Tanner Zelinsky doesn’t even know that He said he can’t. A place where he doesn’t know where the money is. We only got a fourth of the money, and that’s ridiculous. It is just absolutely ridiculous. So got to love President Trump. Way to go, President Trump. Go get us some rare earth minerals. [00:07:21]Let’s roll over South Africa. South [2.2s] African minister calls for a halt to mineral Exports to U.S.. This is our leiris. If you’ve thought that first story from our substack was funny, this one is a hoot. Let’s withhold minerals to the US. The minister says they don’t give us any money. It’s not. Let’s not give them minerals. This is because we turned off the U.S. aid corruption. Only 5% of what the billions and billions of dollars that went through USAID went to the other countries. The rest of it was to regime change, to Democrats, to the deep state in it was unbelievable. 600 high paid employees with all these great places around the world. And this guy has the balls to not watch our podcast. You got to be just making my day.

Michael Tanner [00:08:14] It’s You don’t support coups in Yugoslavia?

Stuart Turley [00:08:16] No, I am. I am a and let’s quit spending money around the world.

Michael Tanner [00:08:21] And I don’t know how much minerals we actually get from South America, South Africa. I’d be like, you know, if we’re like, Hey, we’re going to stop importing oil from New Zealand. Great. We shut it all off. We don’t get much from them.

Stuart Turley [00:08:34] No, we just got a whole new supply in Ukraine. And let’s go. Let’s go to Greenland.

Rey Trevino III [00:08:39] You know, I love the Ukraine to go back to that. And absolutely, we’ve been sending them so much money. But yeah, it’s terrible. I’m sorry. Last time I checked, like you’re going to cover my you’re going to cough up something. And what I also thought is hilarious is Lindsey Graham, who I think is a great guy. I do. I support him. He turned real quick going, Hey, yeah, come on. You like to see? Because last time I checked, Lindsey Graham was on Fox News all the time saying we need to support our brothers in Ukraine, send them more money, send them more money. And now he’s flipped real quick on give us your medals.

Stuart Turley [00:09:11] Right. Personally, I think he needs to be primaried out. But with that, just me. [00:09:15]Let’s go to it. New EPA chief Lee Zeldin targets anti Trump bureaucrats. And I’ve got one [6.5s] for you here on this. I got a question for you on this one here. President Trump, the the EPA. I love Lee Zeldin. Lee, if you’re out there, I want to have you and Chris right on a panel. And we want to talk about how we can deliver lowering the cost across the United States to all consumers in the United States. But our team, we’re going to lower costs. President Trump said to Lee, By the way, if you’re going to put out one regulation, you have to eliminate and others, Wow, that is how you do it. It is good regulations. Lowering regulations help an empty operator save money.

Rey Trevino III [00:10:03] Absolutely. Be just in the bureaucracy alone and jumping through the hoops that this is going to be, I will say. Operators money not only in Texas, but more importantly, in other parts of the world where the Bureau of Land Management really manages all the minerals and everything that goes on. And, you know, for anybody out there that’s ever watched Shameless plug or listen to my show, The Crude Truth, I’ve been on there before saying that I support the EPA has done wonderful things in its time. We don’t talk about the acid rain up in the Northeast anymore. You know, the Clean Water Act of the 1970s or early or late 60s. It has done great things, but it has been turned in the last 20 years into a weapon against the oil and gas industry. And so to have somebody like Lee Zeldin in there is very, very exciting, along with Chris Wray getting sworn in and Doug Burgum. I mean, what a team. What a team.

Michael Tanner [00:10:53] Yeah, I love this quote that that comes out from from Secretary Zeldin, who now is officially confirmed 56 to 42. I don’t believe that anybody should be here at the EPA who is not committed to the agency mission and the lawful direction coming from the duly elected president of the United States.

Stuart Turley [00:11:09] I agree he will definitely have his work cut out for him, as this article says, and we know that he can do it. [00:11:16]Hey, my last article for today, [1.5s] The Bag Bag, Lord Bless You wraps up financing for 24 LNG powered container ships. This is an important story when you sit back and take a look at container ships that are being powered by LNG. We’ve also seen Vietnam and about five other power plants come on in the last several months of LNG. Two direct electricity generation power plants come online, all these ships. LNG is here to stay. And this is how we’re going to help rightsize the trade deficit with the EU. The EU is really going to need to be, by and large, the LNG.

Michael Tanner [00:12:01] But, but, but but also, there’s a little tidbit in here that I find hilarious. And this goes back to something you aptly pointed out four years ago when we first started doing this show. The first line of this article, you know how Lloyd said on Tuesday that the financing will be carried out on the basis of its, quote, green financing framework, LNG? It’s the sleight of hand. I remember when it was global warming was going to kill us and they switched it to climate change and they and all of a sudden natural gas couple of years ago was going to kill us all. And now sleight of hand. Natural gas is now green.

Stuart Turley [00:12:33] Whenever you have Bill Gates, who is a one of the greatest days of my life, was when I had that man off, just like I did you the other day. I had this knack for doing that to folks and I made him so mad. He had a blood main come right across his forehead. And if I could do it again, I would do it again. But Bill Gates said we need natural gas to get air. And then Larry Fink, same thing.

Michael Tanner [00:13:00] Good friend of the show.

Stuart Turley [00:13:01] Good friend of the show. So when you do that, you see Larry Fink and Bill Gates saying that it’s time for natural gas is great again.

Michael Tanner [00:13:09] Yeah, it’s it’s it is. It is. You know, it is funny. All right. Let’s go ahead and jump over and talk a little finance, guys. But before we do that, we have to pay the bills. As always, the news and analysis or quote, analysis you just heard is brought to you by the world’s greatest website. ww.Energy news beat.com The best place for all your energy and oil and gas news.

Rey Trevino III [00:13:28] How fast are you going to see the energy news beat.com. For those out there please go to that website. It’s amazing again so that just keeps you in here. That energy news beat that.

Michael Tanner [00:13:39] yeah. Or you can hit the description below for all the links of the timestamps, links to the articles and check us out on our substack The energy news beat substack.com. Probably the best way to support the show and we have a lot of great custom articles that Stu and the team are writing. We had a white paper that we dropped last week specifically on Rare Earth Minerals that that was a big hit. And always you can check out the good old fashioned mines mineral model. We have the link there in the description and we also like to shout out our sponsor of the show, Reese Energy Consulting, and our good friends over there. We’re going to be able to see a lot of them down here at Nape. Guys, if you’re an oil and gas company and you and you and you feel like you’re getting screwed on your margins when it comes to your natural gas contracts or your oil. First purchasers Steve Reese and Reese Energy Consulting is here to help. There’s 20 to $0.30 for every misstep you’re leaving on the table. Don’t leave that up to chance. Call our good friends over at Reese Energy Consulting to get that squared away. Get better deals, save money, make more. It’s awesome. We love them over there. And as always, check out invest in oil, not energy Newsbeat.com. If you are interested in becoming Billy Bob Thornton from Land Man, saving money on taxes and also giving yourself a nice steady distribution, we have some great resources we can send you if you are interested. One of our colleagues wrote a fantastic e-book. We can send you on all of the ins and outs of oil and gas investing again, guys that’s invest in oil, not energy. Use Bitcoin.

Michael Tanner [00:14:59] Let’s check in on top line indices. The S&P 500 is actually up about three quarters of a percentage point. Nasdaq up mostly. I’m actually up about 11.26 percentage points. Mainly due to the fact that a lot it’s a lot of rebound relative to DB. We did see two and ten year yields drop about 8/10 of a percentage point. Dollar index down about 3/10 of a percentage point. Bitcoin falls four percentage points, currently trading just below 89 or 98,000 at about 97,842. Crude oil basically flat day over day. We kind of sagged in the early morning trading session. Hit a big spike up in the morning, mainly due to the engagement of the tariffs. Brant Oil. Three quarters are 3/10 of a percentage point. Our user EMP securities contract actually actually jumped about 2.4 percentage points. As I mentioned, guys, you know, with we oil fell yesterday mainly due to the fact that Canada came out about 20 minutes after the tariffs were announced, went ahead and redneck Trump came out this morning and basically put renewed pressure on Iran. Iran does about 2 to 3 million barrels a day of oil exports. And if you can assume that’s being taken off the market, if things are going to get spicy. So you can kind of see if you’re kind of watching the oil charts there, It was basically a sag down in the early morning at about noon, huge spike up when this was announced. We also did see that this was a you know, this was a presidential memorandum that was signed alongside Benjamin Netanyahu, who’s the prime minister over there. And Israelis basically ordered the U.S. Treasury secretary to impose, quote, maximum economic pressure on Iran, which includes more oil sanctions and enforcement mechanisms. That was basically enough to settle oil down basically flat. And, you know, as we remember, guys, he had basically driven and by he I mean, President Trump has basically driven Iran’s oil exports to near zero. And that was during his first term. So I think a lot of the movement we’re seeing in oil prices right now is due to that expectation. As we know, good friend of the show, Joe Biden, went ahead and bled about 2 to 3 million barrels back onto the market, which is probably a lot of the reason why they were able to do some of the chicanery they’ve been doing out in the Middle East. [00:17:03]We also did see the API crude oil inventory guesstimate. And as you guys listen to this, [4.1s] at about 1030, you’ll hear the actual EIA crude oil stock numbers by API estimating about a 5.0 to 5 million barrel bill in the in the crude oil stocks over there at Cushing. That was a forecast of about one point or 3.17 million barrels. Previously we saw a 2.8 million barrel build. So big build that will be very interesting to see where the EIA comes in at. So all we’ve got to talk tariffs here because I think when it when it comes to where prices are going in our. I’ll start with you then I want to go to stew here what what when it comes to prices and specifically Canada, do you see these tariffs hurting or helping oil prices?

Rey Trevino III [00:17:46] I mean, in the short term, obviously, if the tariffs actually were to come into play, they’re going to they’re going to hurt. I mean, everybody’s going to feel it at the pump. Obviously, the price of oil does go up because it does have to get paid by somewhere. I don’t think we’re even going to get to that point. The point of these tariffs threat is to make sure that we continue to get oil at a fair price and secure the north border just as much as you should the southern border. I know that a lot of people are probably like, what do the two have to do with each other? They have everything to do with everything. The fact that that the more energy secure we are here in America, the more our national security is going to be going to be saved.

Michael Tanner [00:18:25] Are you willing to pay more at the pump to teach Canada a lesson?

Stuart Turley [00:18:28] I don’t think it’ll have to be that problem, but I think Canada will have to understand that we have been paying for their they have the terrorist, the snot out of us. Yeah. So and I love my Canadian friends up there. In fact, I would love to have Alberta as the 51st state. Let’s leave the rest of Canada alone. But yet, honestly, I don’t think it’s going to be it’s going to wash out.

Rey Trevino III [00:18:51] Yeah. I mean, common sense is obviously a terrorist could hurt because, you know, we’ll just I mean, so that’s common sense. But again, it’s not going to get back get to that. I mean, they’ve already caved once. I mean, look at Columbia. Did I mean, overnight? Well, it was the Columbia that like within minutes it was like, no. And yeah, we have some good friends from Canada, like a good friend, Keith Stelter. He’s from Canada. So, you know, a lot of good common sense people come from Canada on bikes, too. You said it right. They have been doing this to us for years and we don’t even know it. So guess what? It’s actually going to help the American people out.

Stuart Turley [00:19:21] We only only 2% of our GDP. I mean, that’s that’s really not an issue. We have so much in energy exports that are going to start rolling through Canada. If you are listening to this, your leadership brought this on you guys, not us. And it’s because when you had the pipeline, the energy free pipeline that was going to be carrying oil across Canada, you all canceled your own pipeline and put you at our disposal because the only way you get oil products to your other side is on US pipelines. So y’all got us some really bad people up there leading your your policy.

Michael Tanner [00:19:58] Well, hopefully we can get out. What’s his name? Pierre. Over there. Who’s the guy that running up there? Hopefully we can get in there. All right. [00:20:04]Let’s finish up with this, guys. In a win for Trump, oil giant Shell walks away. Wave from major New Jersey offshore [6.7s] wind farm. I think a win for people win for Wales, loss for me, as I am probably the biggest offshore wind fan known to mankind. You know, really in the first this is kind of the first.

Stuart Turley [00:20:23] Fallout.

Michael Tanner [00:20:23] From kind of President Trump’s early energy policy from Shell is has confirmed to the Associated Press it is writing off the project, citing three things increase in competition. That seems like a scam to me. I don’t believe the increasing competition. It’s by decreasing competition. But hey, it’s a press release I our guy the.

Stuart Turley [00:20:41] Week weakness in competition for money.

Michael Tanner [00:20:43] Yeah maybe that’s it.

Rey Trevino III [00:20:45] We will get let him finish out.

Michael Tanner [00:20:46] The second is delays and the third is the changing market. I believe there’s a changing market.

Rey Trevino III [00:20:51] I believe there’s a changing market. Here’s what that tells me. Those subsidies are going away. Shell’s not. We know that the Shell’s got more hands and more ears in DC than Pecos does. Yeah, so that tells me that these subsidies are going away, which I think is great. It’s going to only level the playing field that much more for a free market to let the individuals decide what form of energy they want to use to power their vehicles. You know, they’re in some ways. So I’m very excited about that. But that’s what that tells me more than anything else, is that there’s probably no doubt those subsidies are going away. And thank goodness now, because there are endangered species of whales that are getting horrifically hurt of their numbers are getting hurt by these offshore wind, wind farms. That is a fact. And so I need to see all these green people be celebrating the fact that the whales are going to be safe. I know nothing. Well.

Michael Tanner [00:21:43] I have a longstanding beef with the whales anyway, so I actually enjoy the offshore wind farms. If fact if that.

Rey Trevino III [00:21:49] You still use whale oil for.

Michael Tanner [00:21:51] Absolutely.

Rey Trevino III [00:21:52] Your life.

Michael Tanner [00:21:52] Absolutely. Yeah, it is It is funny. We have to remember, guys, Trump did sign on the first day of office in executive order that basically halted all lease sales on federal waters and put a probe, a pause on all approvals permits and loans. And perhaps of this is of most interest to Shell. And the order does direct the administration to review existing offshore wind energy leases and identify any legal reason to terminate them. I have a feeling it was going to get terminated anyway. Basically, you know, according to Robin Schaefer, he’s the president of Protect our Coast at New Jersey said that without Shell’s financial backing, it appears that the project is dead in the water. And they’re writing and Shell is writing off nearly 1 billion of an invest only smokes. That’s a big one there. And we did see that it did because of that. You know, they did report on Thursday of last week a 60% decline in for a year in our full year earnings. And we did know that Danish wind developer Orsted was beginning to work on that. So pretty unbelievable. So that’s really all I’ve got, guys, What are you what are you most excited about? You starting with you for Nate.

Rey Trevino III [00:22:57] I tell you what to be here again. The energy is there, the lineup, the amount of individuals, amount of quality M.P. companies of the amount of just people that are going to be here that you just cannot the amount of just what do you call it knowledge that’s going to be in there. That’s but that’s what I’m excited about. You know, you mentioned Steve Reese was a sponsor of your show. I think he’s going to be on Stu’s podcast live on the net floor.

Stuart Turley [00:23:22] So he just called in sick. But we were going to Steve and I are going to have a monthly episode.

Rey Trevino III [00:23:28] Okay.

Michael Tanner [00:23:29] We’ll get somebody you guys check out Steve Rees. Booth’s going to be there. We will be at Booth 3117. Come check us out. What are you most excited for?

Stuart Turley [00:23:37] I’m excited to see everybody because it was so much fun. We had 35 podcast we produced. I mean, it was a brew.

Rey Trevino III [00:23:45] It was it was a great time.

Michael Tanner [00:23:46] It was. It was a great time.

Rey Trevino III [00:23:48] Out of the other one. I do want to do a shout out. I want to say thank you. I’m very excited. I get an opportunity to finally meet Jamie Elrod and Michael Diaz of Flipping the Barrel. I get to interview those two wonderful ladies that have just truly been I think they probably got the top oil and gas podcast, if I’m correct. And it’s just awesome that they’re going to be here at night this year and I get a chance to meet them because I actually I’ve never met those two ladies and I’m just very excited about that, as well as all the other wonderful interviews that we’ve got lined up at the name for.

Michael Tanner [00:24:19] Absolutely, guys. So with that, we’re going to let you guys get out of here, get back to work, start your day. Appreciate you making energy news. Be part of your day for Stuart Turley. Rey Trevino, I’m Michael Tanner. We’ll see you tomorrow, folks.

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Shell names new Canada head

Energy News Beat

UK-based LNG giant Shell has named Stastia West as the new president and country chair for its Canadian business following the departure of Susannah Pierce.

After four years as president and country chair and 16 years at Shell, Pierce has elected to leave Shell service, according to a Shell Canada statement.

Pierce has contributed to some of the company’s most significant investments in Canada, including LNG Canada and the Polaris/Atlas carbon capture and sequestration project.

On the other hand, West started her career in Shell Canada and has over 25 years of energy industry experience.

She has held a variety of senior roles across Shell, including in finance, commercial strategy, mergers and acquisitions, and assset management.

West will continue leading Shell’s integrated gas business in Canada in addition to being president and country chair, effective March 3, 2025.

In her current role, she is responsible for Shell Canada’s upstream business and the governance of Shell’s 40 percent equity interest in LNG Canada.

“I’m looking forward to taking on this new challenge with Shell at an important time for our business in Canada,” West said.

Shell still expects to launch its LNG Canada export terminal in Kitimat in the middle of this year, according to Shell’s finance chief, Sinead Gorman.

One of the largest private investments in Canadian history, LNG Canada will initially produce 14 million tonnes per annum (mtpa) LNG for export with plans to double its capacity to 28 mtpa with a proposed Phase 2 expansion.

Besides operator Shell, other partners in the project include Malaysia’s Petronas, PetroChina, Japan’s Mitsubishi Corporation, and South Korea’s Kogas.

 

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Pecos Country Operating, LLC is a privately owned oil and gas exploration and production company headquartered in Fort Worth. We own and operate wells across the South Central United States with our predominant means of production coming out of West and North Texas.

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