Venture Global’s Plaquemines LNG terminal achieves first production

Energy News Beat

Venture Global announced on Friday it had reached first LNG production at the company’s second facility, Plaquemines LNG, in Port Sulphur.

“Achieving this milestone for a 20 mtpa nameplate capacity project 30 months from its final investment decision (FID) makes Plaquemines LNG one of the two fastest greenfield projects to reach first production, along with Venture Global’s first facility Calcasieu Pass,” the company claims.

Once fully operational, Plaquemines LNG will be among the largest facilities in the world.

Venture Global took a final investment decision in May 2022 on the first phase of the Plaquemines project with a capacity of 13.3 mtpa and the related pipeline. It also secured $13.2 billion in project financing.

In March last year, the company sanctioned the second phase of the Plaquemines LNG export plant in Louisiana and also secured $7.8 billion in project financing.

The full project, including the second stage, will have a capacity of 20 mtpa coming from 36 modular units, configured in 18 blocks.

Each train has a capacity of 0.626 mtpa.

“Reaching first LNG at Plaquemines at this pace will enable the United States to remain the top exporter of LNG in the world. Between current and planned facilities, Venture Global is prepared to invest $50 billion in energy projects based in the United States which will create jobs, support local economies, strengthen the balance of trade and unleash much needed US LNG supply to our allies,” Venture Global CEO & co-founder Mike Sabel said.

Because of Venture Global’s unique configuration and construction approach, Plaquemines will produce and export LNG while construction and commissioning continues for the remainder of the project’s 36 trains and associated facilities, the company said.

Venture Global previously said it expects to start LNG production by the end of this year, while commissioning of the facility is expected to last about two years.

The company recently received approval from the US FERC to introduce hazardous fluids to the first liquefaction block at its Plaquemines LNG export plant.

Venture Global’s newbuild carrier, Venture Bayou, also recently arrived at the Plaquemines LNG export plant as the facility nears the launch of its first LNG production.

The 174,000-cbm LNG carrier was on Saturday still located at the LNG plant along the Mississippi River, according to its AIS data provided by VesselsValue.

Prior to this vessel, the Plaquemines LNG facility received a cool-down cargo in August onboard the 2020-built 174,000-cbm, Qogir.

In August, Venture Global secured approval to commission the liquefaction train system block 1 with nitrogen.

To date, the FERC has granted the commissioning of six liquefaction train system blocks.

The company0s first LNG plant, Calcasieu Pass, produced its first LNG on January 19, 2022, moving from FID to LNG production in 29 months, and the first commissioning cargo left the facility on March 1, 2022.

However, the facility is still in commissioning mode, and Venture Global expects to launch commercial operations in 2025.

Energy giants Shell and BP and other firms are in a dispute with Venture Global over the launch of commercial operations at the facility, and they previously launched arbitration proceedings against Venture Global.

 

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US to sanction Serbia’s main oil company – Vucic

Energy News Beat

Decision to impose sanctions on NIS is due to its Russian ownership, the Serbian president has stated

US to sanction Serbia’s main oil company – VucicUS to sanction Serbia’s main oil company – Vucic

US is set to slap sanctions on Serbia’s oil and gas company NIS due to its Russian ownership, the country’s president Aleksandar Vucic has said.

“We got confirmation that in the next few days, the US will introduce sanctions against NIS because of Russian ownership,” Vucic said in an interview with Serbian broadcaster Informer TV. However, Belgrade still hadn’t received an “official paper with details” from Washington, he added.

NIS, the Serbian energy company, is predominantly owned by the Russian corporation Gazprom. In 2022, the Gazprom Neft company, which participated in the privatization of the largest oil company in the Western Balkans in 2008, reduced its stake in NIS to 50%, while Gazprom received 6.15%.

President Vucic also expects the UK to join the sanctions, “which means everyone,” he added during the interview. “I think this is part of broader geopolitical pressure on Russia,” he concluded.

After Gazprom Neft reduced its stake in NIS in 2022, Vucic said that the republic’s authorities could be forced to buy out or insist on selling Gazprom Neft’s stake in the company to a third party in the future, to protect themselves from the impact of anti-Russia sanctions.

Both Vucic and his cabinet have repeatedly highlighted the hypocrisy and double standards of the West. They insist on upholding Ukraine’s borders while simultaneously demanding that Serbia recognize the breakaway region of Kosovo as an independent state governed by NATO-backed ethnic Albanians.

Serbia is officially committed to joining the EU but the bloc has made its membership conditional on sanctioning Russia and on recognizing Kosovo, among other requirements, which Vucic has declared he will never accept.

 

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Treasury Yield Curve Un-Inverts Further on Surging Longer-Term Yields: 10-Year Yield Now Higher than All Shorter Yields. Mortgage Rates Resurge

Energy News BeatPrice

Fed cut by 75 basis points since September while 10-year Treasury yield rose by 75 basis points to 4.40%, as Bond Market frets about Inflation & Supply.

By Wolf Richter for WOLF STREET.

The 10-year Treasury yield jumped by 7 basis points on Friday, to 4.40%, having risen five trading days in a row. It’s now just 4 basis points below the post-rate-cut closing high on November 13 (4.44%). These yields are the highest since June.

Since the eve of the Fed’s September 18 rate cut, the 10-year yield has risen by 75 basis points, while the Fed has cut by 75 basis points. The difference is 150 basis points! The 10-year yield is now higher than all shorter-term yields.

The 30-year Treasury yield jumped by 6 basis points on Friday to 4.61%, now once again above the federal funds rate (4.58%), which the Fed actively brackets with its policy rates. It rose for six trading days in a row and is now just a hair from the November 13 rate-cut high (4.63%). Both of them are the highest since May 2024.

Since the eve of the rate cut on September 18, the 30-year yield has risen by 65 basis points, while the Fed has cut by 75 basis points. Rising bond yields means dropping bond prices.

Among the drivers of higher long-term yields are renewed inflation fears and prospects of a continued tsunami of supply of new debt to finance the massive flow of deficits that the market envisions, even as the Fed is unloading securities through QT and has already shed $2.1 trillion.

The 2-year Treasury yield jumped by 7 basis points on Friday to 4.25%. Since the eve of the rate cut, it has jumped by 66 basis points.

The “yield curve” in the process of un-inverting.

Since the rate cuts started, short-term yields have fallen sharply, and – shock to the real-estate industry – longer-term yields have risen, which pushed mortgage rates higher.

In a normal yield curve, longer-term Treasury yields are higher than short-term yields, with the 1-month and 3-month yields the lowest and with bond yields the highest.

Since July 2022, the yield curve has been “inverted” – with longer-term yields below short-term yields – as the Fed hiked its policy rates, thereby pushing up short-term Treasury yields, while longer-term yields also rose but more slowly, and thereby fell behind.

The yield curve is now in the process of normalizing, but it still hasn’t normalized. In a normal yield curve, the longer-term yields are substantially higher than short-term yields, and they’re now just a little higher. The yield curve will steepen and become more normal with more rate cuts and higher longer-term yields.

The chart below shows the “yield curve” with Treasury yields across the maturity spectrum, from 1 month to 30 years, on three key dates:

  • Gold: July 25, 2024, before the labor market data spiraled down (turns out, it was a false alarm).
  • Blue: September 17, 2024, the day before the Fed’s rate cuts started.
  • Red: Friday, December 13, 2024.

The 10-year and 30-year yields are now higher than the shorter-term yields, and that portion of the yield curve has un-inverted completely.

The 7-year yield (4.32%) is now equal to the 3-month and 6-months yields. And that portion of the yield curve from the 7-year on forward is essentially flat.

Note by how far the longer-term yields have risen since the eve of the rate cuts (blue line), while yields of less than one year have fallen below the blue line.

Mortgage rates have re-risen.

The 30-year fixed mortgage rate roughly parallels the 10-year yield, but is higher, and that spread between them is fairly wide these days due to some factors that we discussed here. A wider spread means relatively higher mortgage rates.

On Friday, the average 30-year fixed mortgage rate rose by 8 basis points to 6.95%, according to the daily measure from Mortgage News Daily.

This U-turn in mortgage rates, after the rate cuts began, was an unpleasant surprise for the housing industry, mortgage bankers, and potential home sellers that are sitting on their vacant homes that they’d moved out of a while ago, but didn’t put on the market because they’d wanted to ride the price spike up all the way.

But with these mortgage rates, and the ridiculously high prices after the 50% surge during the pandemic, demand for existing homes has plunged to the lowest level since 1995, amid surging supply, while homebuilders are now sitting on the largest number of unsold completed homes since 2009 that they need to move pronto — and they’re making deals to do so.

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Postal Service’s plan to electrify mail trucks falling far short of its goal

Energy News Beat

The United States Postal Service unveiled a plan to buy a fleet of all-electric mail trucks for its mail carriers back in 2022, of which 3,000 were supposed to be delivered by now. Unfortunately, those plans aren’t even close to fruition. The Washington Post reported that defense contractor Oshkosh has only delivered 93 vehicles so far.

In 2022, The Postal Service announced its plan to buy at least 60,000 “Next Generation Delivery Vehicles” (NGDV) for its mail carriers by 2028 and start replacing its aging fleet of trucks. The Postal Service’s initial order called for 5,000 all-electric vehicles along with new, gas-powered vehicles, but calls from the Environmental Protection Agency and the Biden Administration pushed them to increase the share of NGDVs that would run on electricity.

The Washington Post obtained nearly 21,000 government and internal company records and spoke with 20 people familiar with the trucks’ manufacturing and design process. Its reporting shows that Oshkosh ran into significant manufacturing delays of the electric NGDVs that caused lower than expected delivery numbers. Some of the anonymous sources said that engineers struggled to calibrate the mail trucks’ airbags, and the vehicles’ body and internal components are unable to contain water leaks to an alarming degree.

The turnaround time for building these new mail trucks is also very slow. The Post reports that the South Carolina factory can only build one truck per day even though Oshkosh hoped it could build at least 80 vehicles a day by now.

Oshkosh also failed to inform the Postal Service about these delays. Four of the background sources say a senior company executive tried to update the Postal Service about these manufacturing issues only to have those efforts blocked by their corporate superiors.

An Oshkosh spokesperson said in a statement that the defense contractor is still “fully committed to being a strong and reliable partner” with the Postal Services and insists “we remain on track to meet all delivery deadlines,” according to The Post.

The failure of these plans doesn’t just affect the Postal Service’s ability to modernize and update its fleet of aging mail trucks. It could also throw a wrench into President Biden’s plans to combat climate change. Reuters reported on Friday that President Donald Trump’s transition team is considering cancelling the electric mail truck program altogether.

 

Is Oil and Gas An Investment for You?

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Stopping Russian Natural Gas and Deindustrializing

Energy News Beat

In the Energy News Beat – Conversation in Energy with Stuart Turley, talks with George McMillan dives into the geopolitical strategies influencing energy markets, highlighting how natural gas pipelines, trade routes, and economic policies are used to control global power dynamics. George McMillan explains the integration of geopolitical modeling with economic development theories, emphasizing the deindustrialization of Germany due to the loss of Russian natural gas and its broader implications for the EU and global economies. The discussion also critiques the inefficiency of siloed university systems and government agencies compared to the private sector’s streamlined analytical models. Recommendations include adopting integrated strategies for better policy-making and competitive positioning in global markets.

Connect and follow George on his LinkedIn here: https://www.linkedin.com/in/george-mcmillan-5665b015/

Honestly, the new Trump administration does not have all of the information about the geopolitical landscape to make accurate decisions. George is a one-of-a-kind analyst who has the missing theories and boots-on-the-ground experience. If I were an energy executive looking to put in pipelines, import, or export facilities, I would contract with George to do an assessment for the project.

If I was in the Trump administration looking at the potential World War III issues, I would hire him to find out why other administrations made some decisions. And if I was in charge of the Military colleges, I would hire him to teach the next generation of military leaders.

The left has removed much of the material George has assembled, and it is nowhere to be found in the next generation of leaders.

Thank you for your time, George!

Highlights of the Podcast

00:00 – Introduction

01:29 – Geostrategic Analysis: Land vs. Sea Power

03:24 – Wesley Clark on Post-9/11 Foreign Policy

10:48 – Historical Geostrategy

13:13 – Historical Context of U.S. Naval and Economic Strategy

15:10 – Pipeline Power and Geopolitical Implications

18:01 – Russian Energy and Global Strategy

26:18 – Germany’s Industrial Decline

34:02 – Geopolitical Modeling

42:55 – Academic vs. Private Sector Approaches

49:32 – De-industrialization of Germany

57:39 – Conclusion

 

 

Automated Transcription:

 

 

Video Clip [00:00:07] The United States has a bunch of problems. Russian oil and gas. The cheapest form of energy. So whichever industrial power centers that they connect to by pipeline, we’ll have industries that prosper and basically put everybody else out of business. Russia being in the heartland of Central Asia, Chinese energy integration is so much more cost competitive globally that the other industrial power centers are probably going to have to also integrate. Japan’s been having energy production in the Sakhalin Island. Germany had the Nord Stream pipeline, but they also had the South Stream pipeline going through the Black Sea. And wherever there is a Russian or Chinese infrastructural project, there happens to be war, tension, color, revolutions all the way around Eurasia. That is causing a big problem for the United States and losing its allies. And also whoever integrates then pays in rubles. And then there’s nobody to support our $34 trillion in debt and everything just collapses.

 

Stuart Turley [00:01:07] Hello, everybody. Welcome to the Energy News Beat podcast. My name’s Stu Turley President and CEO of the Sandstone Group. This is a continuation of a series that I’ve got with George Macmillan. I’ll tell you, we are having a blast talking about things going on around the world and when you have green energy policies. Welcome, George. Thank you for stopping by.

 

George McMillan [00:01:29] Yeah. Thanks. We want to continue what we’re doing because people really need an objective predictive analysis for sea power versus land power strategies. And they also need to know how how really Wall Street and finance has always interacted with the intelligence community and the Pentagon back when it was the War Department and the always influencing the institutional levels of power, institutional levels of power being the executive branch bureaucracy in Washington, DC, or the military institutional branches, you know, the the Air Force, Marines, Army, etc.. Coast Guard. And then you have the intelligence agencies also. So you have the financier is on top. And why are the financiers running everything? Well, the multinational corporations hire more MBA and Ph.D. economics and finance analysts than the intelligence community. So it’s the biggest collection and hierarchy of analysts around bigger than the government. Wow. So the governments, their analysts interact with the financial analysts at the multinational corporations. And then that’s what influences government policy, because Wesley Clark was talking about there a foreign policy coup. All right. It makes it seem like a conspiracy theory or something, rather, then. Well, we have a free market system of government. Democracy is what is what political theorist call egoistic ideology. You vote in your own self-interest and you spend your money and invest in your own self-interest.

 

Stuart Turley [00:03:04] And General Wesley Clark, while you’re on that process, do you want to show the one Jimmy Dore video? Let’s take this one now and listen to this to my podcast listeners. Jimmy Dore is another podcast listener. And this video, we recommend that you do follow him. Take a listen to this.

 

Video Clip [00:03:24] How they’re doing. It. And so here’s here’s a general. General Wesley Clark is going to tell you this right now. About ten days after 911, I went through the Pentagon and I saw Secretary Rumsfeld and and Deputy Secretary Wolfowitz. I went downstairs, just say hello to some of the people on the joint staff who used to work for me. And one of the generals called me and he said, Sir, you got to come in. You’ve got to come in and talk to me a second. I said, Well, you’re too busy. He said, No, no. He says, We’ve made the decision we’re going to war with Iraq. This was on or about the 20th of September. I said, We’re going to war with Iraq. Why? He said, I don’t know. He said, I guess they don’t know what else to do. So I said, well, did they find some information collected connecting Saddam to al Qaeda? He said, No, no, there’s nothing new that way. They just made the decision to go to war with Iraq. He said, I guess it’s like we don’t know what to do about terrorists, but we got a good military and we can take down governments. And he said, I guess if the only thing you have is a hammer, every problem has to look like a nail. So I came back to see him a few weeks later, and by that time we were bombing in Afghanistan. I said, Are we still going to war with Iraq? And he said, it’s worse than that. He said he reached over on his desk. He picked up a piece of paper. He said, I just he said, I just got this down from upstairs meeting the secretary defense office today. And he said, this is a memo that describes how we’re going to take out seven countries in five years, starting with Iraq and in Syria, Lebanon, Libya, Somalia, Sudan and finishing off Iran. So they’ve had this plan for a long time and they make it up.

 

Stuart Turley [00:04:52] Wow.

 

George McMillan [00:04:53] Okay. Yeah, I’m showing that on on on the Jimmy Dore Show because he’s been covering this. Wow. That was we did the video where we did the clip where Wesley Clark was discussing. Seen this in San Francisco venue and this venue. He’s with Amy Goodman on Democracy Now! All right. There’s other videos that talk about how this plan has been going on for a while, and it’s a plan looking for a triggering event. Is the way you state that when you’re looking for targeting packages and geostrategic objectives, you’re looking for a triggering event. Okay. So what was the 911 was was the triggering event. And then there’s a lot of my hop and hop conjecture is about that, about whether that happened, whether they let it happen so they would have a triggering event. But yeah, if you just look at maps of oilfields and the logistical supply routes to get it there, so logistical supply route, you’re talking about maritime choke points, riverine choke points and terrestrial choke points and by terrestrial choke points. You’re talking about mountain ranges and the area, the land, the flatland between that and a river or the flatland between that and the sea. Right. All right. So they’re looking they want to the oil companies are always looking for oil fields, obviously, and associated gas fields. Then you have to deliver it. So you need pipelines that are protected or railways that are protected or at least at least highways. So you have to have the logistical supply route planning. So you’re into future operations planning, and then you have to get it to to a market. So if you flowchart getting energy out of the ground and delivering it to a market, you just have this, you have strategic planning is just flow charting every single step in the project. And then where are you in the project? So when you do global strategic analysis and counter strategic analysis, where is are you in this process and how can your enemies, you know, thwart this process? Or where are your rivals in this process and how can you thwart them in the process? Right. So when I build my hypothetical strategic models, yeah, it’s a lot of flow charting comes into play and the flow charting in this place is derived from oil field and natural gas maps and how you would build pipelines or railroads to get it to a market which everybody in your audience is already familiar with. So we’re just we’re just adding how to do hypothetical geo strategic future operations planning models to a topic that they’re already familiar with, Right? So in this case, it’s the multinational corporations have already looked at the maps. They’ve already gone through this flow charting. So now they go they pay the research institutions to convey this information to the political leaders through the think tanks, NGOs, lobbying groups in Washington who are also interacting with the government officials in executive branch agencies like Geological Survey and Department of Interior or Department of Agriculture. Department of Energy. Department of Energy, right. Energy News. Be Yeah. Iraq. Now, all these people are in the embassies overseas, so they’re interacting with their counterparts in, you know, in the overseas countries, right? Okay. So when you get into the EU, like we talked about last time, how do you overcome all of the different existing long term rivalries in each region? We’re going to talk about Europe after World War two, how you do that? Well, the United States had that same problem during the Articles of Confederation. And what did we do? We switched to the Constitution, which has a federal system in Washington. So after World War two, what did the multinational corporations interacting with the government during FDR and Truman do was? They took the European Coal and Steel Union and they turned it into the EU to mirror the federal system in Europe, because you have to create, create you have to pay to have to have a way of organizing the European states. Right. Your mirror image of the United States federal system. So then you can start controlling the European political system and then erect a trading bloc between the EU and the Warsaw Pact. Then and then after the Warsaw Pact disappeared, they didn’t build an Intermarium project or a three Seas initiative of creating a big, huge neutral zone between Naito and and Russia. They moved the EU East to build a trading bloc to stop Russian well, Russian natural gas. But Russians selling anything east they want to block basically block off all Russian trade. So this strategy stuff, clip and strategy stuff is a YouTube channel is great video. The title is The Naval Strategy of Alfred there. My hand is what the video is called. Right? We’re going to play this clip because in in a one minute clip or whatever it is it’s going to play. Explain the complete. Reason why the United States has this is continuing this strategy of containment against Russian natural gas. We did the videos on on Russian natural gas and geopolitical alignment. We got to go back and redo the redo them again. But if you listen to this clip, it explains why they want to stop Russian trade in general. And then why? Why I boil it down to Russian natural gas specifically and then go into the d W videos where they have all of these videos on Russian natural gas. Right. Saying that it’s not Russian natural gas. Well, if it’s not Russian natural gas, that’s the main problem. Why do they run producing videos on this topic?

 

Stuart Turley [00:10:48] All right. Yeah. All right. So go ahead And let’s see. This video would.

 

Video Clip [00:10:52] Require a titanic effort from any non hemispheric state, an effort which could not be made thanks to old world rivalries and the balance of power. All the U.S. needed to do was set up a cheap coastal defense, freeing up the rest of its resources for internal development. But times were changing. By the 1880s, the imminent closing of the frontier seemed to indicate that the world was both getting smaller and getting filled in by formal empires with formal borders. Foreman This impacted American grand strategy in three ways. One, technological progress was lowering the barriers of distance that once made invasion unthinkable. Two, the construction of the Panama Canal begun in 1881, would inevitably draw European empires closer to American shores. And three, American development could no longer rely on an informal frontier to fuel and absorb economic production. Instead, future growth would mean regulated trade with states and empires. What this all meant could be summed up with the following formula. Production converted by trade equals wealth for modern production and wealth are not the same thing. Wealth is what a state can use to directly achieve its goals. Militaries, arms, and, most importantly, money and credit through wealth. A state damages enemies, subsidizes allies and convinces neutrals to side with it in diplomacy. In other words, wealth is power. Production, by contrast, is just what a territory makes and harvests. Regardless of whether the state can make use of it, a state can produce a lot of wheat. But if it all just rots in a silo, that’s not wealth. Instead, it’s the ability of the wheat to be made into rations or else sold or mortgaged for money that makes it contribute to state power. And it is this need to turn production into wealth that makes trade important, whether by bringing production to market or else supplying the inputs that refine existing production into something useful. Trade comes in many forms, but for modern, it’s sea based trade that provides the most efficient conversion process. Not only is shipping over water the most efficient form of transport trading over the oceans also grants access to the global market, allowing states to choose buyers and sellers for maximum profit.

 

Stuart Turley [00:13:14] All right. I cut it there. Yeah, he does. He does a great general framework, which is why we just played that clip in its entirety. Right. All of geostrategic operations or policies are based on that concept. But Russian natural gas being the preeminent aspect of that, right? My hand started in this sailing ship days. But then you had the coal ship days right after that. And then you had diesel ship days after that. That’s for sea power strategies. And then the military, of course, uses nuclear powered vessels to cross oceans because you can do it much faster and you don’t stop at polling stations are refueling stations. But the rest of commercial trade is diesel powered ships, right? Right. For for land powers. Then it goes. Then rail is the cheapest way to ship stuff, right? What is not listed in strategy stuff’s matrix or list here is pipelines, pipelines, ship energy, oil and natural gas. This method. See, this is a critical part that’s not mentioned in this thing. But the concept is technology changes the way you you you turn production into wealth. So it’s this production function up here. That is why is why I’m playing this now. Okay. Then if you we played I didn’t cue up the GW video of Ambassador Mark Goodman. I think it’s Mark Goodman was his name, right? It was in one of those videos. But he talks about there is a school of thought in international relations that talks about the more economically integrated a country is with another, the more diplomatic and militarily and integrated they become. All right. Yeah, that’s permission time. That’s national instruments of power measurements. Right. Bismarck always said you’re. Your diplomatic effort is only as strong as your military. Well, your military is only as strong as your economy.

 

Stuart Turley [00:15:11] Exactly.

 

Stuart Turley [00:15:12] If you have a stone age economy, you can’t produce modern weapons. Right. So if you have an advanced technological economy that produces a lot of machine tools to make consumer goods, you could also produce you can also use those machine to produce armaments. Yeah. If you have a highly advanced electronic engineering technology movement, you can use those for satellites or to build communications devices or how to intercept arrival’s electronic communications. So these are all dual use technologies. But it starts from stopping its country from turning its production into wealth. Right at the get go, because then they can’t get these other they can’t make these other advancements. Right. You could play the clip from from D.W..

 

Stuart Turley [00:16:00] Okay.

 

Stuart Turley [00:16:00] Here we go. The first one.

 

Speaker 3 [00:16:02] Since the Cold War. That’s because the gas Europe’s so desperately needed came from Russia, a partnership that creates major political dependency. So this was all seen as part of an overall Soviet strategy to weaken the West and to break up NATO’s fears that were by no means unfounded on gas. Using oil and gas dependencies as a political weapon was common practice in the Warsaw Pact. Above all, meanwhile, a young Putin began his extraordinary career.

 

Stuart Turley [00:16:32] Is it all right? Well, they talk about how they’re using it as a weapon. All right. Now read the and just objective modeling. I know people out there that that that think that Putin just attacked for no reason. There is no logic. No.

 

Stuart Turley [00:16:46] The every one of the Fox News folks all the see CNN, everybody says Putin attack for no reason. Almost like Project Mockingbird.

 

Stuart Turley [00:16:57] It absolutely is. So we don’t have a video of it. But let me go to. Yeah. You know, cousin Teen Wolf Carter, he was died of mysteriously died of a heart attack in 2017 after he produced the books titled Let me get the titles up here. Prostitutes embedded in the Pay of the CIA and Journalists for Hire. How the CIA Creates the News.

 

Stuart Turley [00:17:23] No way. And he’s a great dad.

 

Stuart Turley [00:17:25] Yeah, he all he just. He published those books. Right. And then he died of a heart attack. Well, what’s a heart attack? Your heart stops beating.

 

Stuart Turley [00:17:33] Right. It could be with lead poisoning, too. So your heart poisoning?

 

Stuart Turley [00:17:39] Right. Like the motorcycle guy died of Covid, and, yeah, the construction worker falls off a building.

 

Stuart Turley [00:17:45] And still dies of Covid.

 

Stuart Turley [00:17:47] All right. So the guy. The guy died of a heart attack because when he died, his heart stopped beating. Right. Had Jack Klugman done the autopsy, it probably would have revealed a little of additional factors.

 

Stuart Turley [00:18:00] Right. Kind of like the oil oligarchs in Russia falling off of buildings all the time. You know, it’s the ground that hurts them.

 

Stuart Turley [00:18:10] Right, Right, right, right. Yeah. The the ground killed. Yeah, that’s right. Exactly. Yeah. It’s not because they’re embedded with the West, right? And they’re actually Western spies. It’s because they impacted the ground. Exactly. Right. For no reason. Yeah. Okay. So, yeah, once people learn to see power versus land power strategies is objectively okay. We can’t do anything about the foreign policy. Like General, you know, General Wesley Clark was talking about the foreign policy issue since 2007 and talked and has produced books on it. Right. And he has he’s a four star. He can’t do anything about it. We can’t do anything about it. But once you know what’s going on and you’re a financial firm, you can use this for predictive analysis so you can at least understand why events are occurring and what the next move is probably going to be. Right. Because, you know, the the big finance and the big multinational corporations that are influencing the government institutional agencies that we’re going to go over in our in the slides that, you know, they’re they’re using this to rig the market for trillions. Right. Okay. So I think your audience. Well, for one thing, they should hire me. Yes, true. They should use these models to form a counter strategy also, because this is predictive modeling. If one side makes a move, you should immediately be countering that move in their trading strategies.

 

Stuart Turley [00:19:37] And.

 

Stuart Turley [00:19:38] Investment strategies.

 

Stuart Turley [00:19:39] The strategies you just described, George, I want to go ahead and just also say that this has been stripped out of the war colleges. We’ve talked about that in the previous podcast. It is also been stripped out of our universities. And so either having you come in and work with the colleges or the war colleges because of your material, and I’m just going to bring this. You have all these slides on all of these things as we go through here. You have all the material put together in a very organized fashion. And I just want to say that again because it needs to be said. President Trump does not have all of the information he needs, very much like Fox News is saying this. They don’t have all of the things that you just mentioned. So they want to make that point very hard.

 

Stuart Turley [00:20:41] We were talking I was listening to Mark Levin and then Dan Bongino and then Sean Hannity. You know, love those guys on domestic policy. Yes. Okay. Mark Levin, great constitutional lawyer. I used my go to guy on domestic constitutional issues. Right. Just, you know, foreign policy. They don’t know anything about it. They really do. They really do believe that Putin attacked for no reason, that he’s psychotic. And then when you start to actually look at where the oil and gas fields are and look at where the color revolutions and and Cuban activities are, you know, the proxy wars, then all of a sudden it’s like, no, they’re trying to they’re trying to stop the reduction from turning into wealth, either from Russia or, okay, since Russia is their natural gas is feeding the the Chinese industrial manufacturing base, then they want to choke off China from exporting this goods and turning its production from well, which is based on Russian energy. Or they want to cut off have the potential to cut off China and the Straits of Malacca. So then what does China do? They start to build railroads, ports and pipelines through Myanmar so they can offload well, so they can offload Middle Eastern oil and send it on the pipelines to Kong, Maine. And then once it hits, once it hits the Chinese oil and gas pipeline network, well, then they can ship it to the refineries and do do whatever they want with it. But they’re avoiding the Straits of Malacca. So the colonial powers, US, UK, the Dutch have always controlled the Malaysian Peninsula and the Indonesia archipelago for, you know, since the 17th century. Right. Earlier, I guess if you go back to the Portuguese. So they’ve always controlled the Strait of Malacca, always. So China needs to get formulate its policy to combat that. So what are that what’s your counter strategy is to extend this is to develop the Silk Road program to get the oil and gas out of the Central Asian stand and then power Siberia into Russia. And then the second part of that is they transform the Silk Road strategy to the Belt and Road Initiative to extend it, to extend the highways, railroads and pipeline systems to the Persian Gulf or to the Indian Ocean. So no matter where they’re getting energy from, they can get it, whether it be the Middle East or Africa. They can go to this closest port in Asia and then offload their goods by railway or pipeline and get everything to China without going through the Straits of Malacca. I was listening to I was watching I was reading Epic Times with Antonio Grasso. Both his articles. Yeah, he’s I trade messages with him time to time. He’s got an article, but he’s got it back. He was talking about how China was getting its was putting the ports in Myanmar and in Pakistan to interfere with international ship. No, they’re building those pipelines in ports on the Indian Ocean. So the Western maritime powers don’t interfere with their ship. So we had the causality exactly backwards because he doesn’t understand the the the geopolitical sea power versus land power strategies. When you understand those strategies. Yeah. Then it’s clear as day what the motives are, right? So if there is a war, the United States wants to be able to choke off Russia and China, China from from turning production into wealth through export. So then in my different slides that because I got the geopolitical slide said in one but I have a specific Russian natural gas counter strategy strategic plan slide set for that and the same thing with the China strategic slide set. So once you know what the strategies are, you can start building hypothetical models and they’re all designed based on flow charting. How do you turn production into wealth through economic development theories? Yeah, Antonio Garcia has a Ph.D. in economics, right? So he knows that part, but he doesn’t know the geopolitical side. So I bring up him. I mean, he’s a friend. I we trade messages back and forth. I just have to use a concrete example of, you know, one part of it. If you know, economic development theory, you can start build your economic development models, right? And from there you can build the. Strategic models of how do you block one or more steps? And then those are your levels of warfare, whether it be maritime riverine or terrestrial chokepoints or financial warfare or disrupting their communications or trying to dragging that ship over the over the over the over the cable. And yeah, so things like that. And it all adds up.

 

Stuart Turley [00:25:28] The mainstream media has not alerted the rest of the world that there is now two other cables cut. And this is a big deal. It’s not me. I’m over here going.

 

Stuart Turley [00:25:40] Yeah, the all the countries have been doing that kind of signals intelligence interference next to forever. And actually, you know, some people say the Russians started doing that the second there was a first telegraphs laid, you know.

 

Stuart Turley [00:25:54] Long.

 

Stuart Turley [00:25:55] All over Europe way back when. So it goes back it goes back from the day that basically the day after the Telegraph were invented. Yeah. Either either espionage by tapping into the cable systems or just or just cutting the cables, you know, whether it be copper wire back then or fiber optic cable now. I mean it’s been going on next to forever.

 

Stuart Turley [00:26:18] Yeah. You always love it when you saw Roy Rogers jump off the trigger and jump up and then get up onto the telegraph and then hammer out using his Colt peacemaker, you know, as the other end do Morse code, I.

 

Stuart Turley [00:26:32] Think he was in. Yes. It was really a signals intelligence guy. Exactly. Yeah, yeah, yeah, yeah. There you go.

 

Stuart Turley [00:26:38] Either that or he got his horse to do it, and he just, you know, watched him. But never mind.

 

Stuart Turley [00:26:43] Right, right. Yeah. If you can play the next video.

 

Stuart Turley [00:26:46] You bet. Looks like it’s going. Here we go. George.

 

[00:26:49] Russia, home to the world’s biggest natural gas reserves. The gas is needed, especially in Europe. And the end of the Cold War ushered in an era of conflicting energy dependencies and concern in the West.

 

Video Clip [00:27:01] You’re giving the Soviet Union hard currency, and they’re using that to build up their military, and this is going to come back to haunt us. Meanwhile, the 1980s marks the beginning of one man’s extraordinary career as a case officer. You have to be able to manipulate people because there is no such thing as a former KGB guy. Gas is one of his two main. Tools for. Coercion, for leverage. For influence. Soviet traditions continue on gas.

 

Stuart Turley [00:27:27] Okay. There’s a couple of key bullets in that video, George. Yeah, he there’s. It’s like a marine, George. If you don’t, all the Marines that you’ve met once a marine, always a marine. And that hit me very hard in that video. Once you see KGB, you’re KGB the rest of your life. Then the other piece of that puzzle, your hands.

 

George McMillan [00:27:52] Yeah. So that goes that goes both ways for all countries. Yes. All right. So which which they conveniently leave out. I mean, that’s because in that in the geopolitical video, I go over the strategy bridge, you know, grand intelligence, strategic intelligence and operational and tactical levels of warfare. The grand the grand strategies are mostly in the private sector where they have, from what I gather, because it’s you’re talking about people you’re talking about the top analysts that work for the top 1%. Actually, at that level, you’re talking about the zero zero 1% ops. At that level. They’re clearly taking their best economists that are in predictive analysis, and they’re sending them to the Yale Grand Strategies classes, and then they’re integrating them with their models. So I’m doing my my strategic models are trying to replicate that by using my fully integrated models out of my unified behavioral theory frameworks. And then doing that integration with the geopolitical slides that I have. So you’re doing it’s geopolitical models with the PMC dime integration, you know, dime integration that is that is the infrastructural and informational integration, transportation and communication, logistical supply routes, right? That build up economic integration, increase diplomatic integration, ultimately military integration, because if you have billion dollar investments, you used armed guards to protect them. And a country, a country’s armed guards is call us military and police. So that’s you know, that’s the logic there. And energy is the the the multiplier coefficient is energy production. You do not have a multiplier coefficient without energy because you can only make so much with hand tools, right? If you’re a logistic logistical supply route is a mule and a donkey or going over mountains, right? You’re not going to be able to take resources out of the ground very efficiently, get it to a production facility where they’re using hand tools. Right. And then distribute it on horseback to your consumer market. That’s only. If you’re in the homespun air.

 

Stuart Turley [00:30:08] Would you say a pipeline is a multiplier then? Because if you can multiply and export, that goes into that formula even at a higher rate than shipping energy around like the Keystone pipeline? If it was built, we would be buying a million barrels per day from Canada and that would be magnifying Canada’s income coming in, right?

 

George McMillan [00:30:32] Yeah. You stop there. You stop the Keystone pipeline. You’re preventing Cana Canada from turning its production into wealth. Okay. In our case, in the North American case, it’s not a geopolitical strategy. That’s a left wing political strategy. Domestic political strategy. Right. So there is a difference. But the effect. The effect is the same. They’re preventing turning production into wealth. And then that has a negative effect on on your on the multiplier coefficient in economic development theory. And the more that you cannot increase those logistical supply route efficiencies, the more you’re increasing B or increasing or decreasing, whether whether you’re a facilitated or debilitating net. Right. Your sectoral growth in bomb all sectoral development theory and then it has a negative effect on labor productivity efficiencies.

 

Stuart Turley [00:31:25] Well, let me throw this is.

 

George McMillan [00:31:27] Different in my models. I’m correlating different parts of economic theory into geopolitical theory because it’s all impacts the multiplier coefficient.

 

Stuart Turley [00:31:37] Nice. I like that. So when I talk about like that and the way that I don’t know if this is a variable format that you would want in there, but who is accelerating the wealth is when the Keystone pipeline was was cut because it’s not geopolitical. You still have the wealth transfer being picked up by Warren Buffet and that team who was doing the rail train. And so that was coming through. And so you are impacting who’s getting rich.

 

George McMillan [00:32:11] Okay. Right. Because remember, I said you got the big they got the analysts for the big firms. Right. Then they’re using then they’re using their money to push this forward in the think tanks and lobbying groups.

 

Stuart Turley [00:32:23] Exactly.

 

George McMillan [00:32:24] And then it comes out into policy. So they’re using the grand strategies at the political funding level because they’re also funding political campaigns. Right. And what General Wesley Clark is there is this foreign policy coup. Well, there’s also a domestic domestic policy go works the same way that the analysts, the people that can afford the analysts or can also afford the lobbyists. And they’re using the power structure in Washington, the think tanks, the NGOs, the Rockefeller Foundation and and MacArthur Foundation to make these policy changes. Then they’re rigging the markets to make trillions, billions and trillions.

 

Stuart Turley [00:33:00] And the consumer’s screwed and the.

 

George McMillan [00:33:02] Consumers get screwed. We can’t do very much about that.

 

Stuart Turley [00:33:06] You can do it.

 

George McMillan [00:33:07] But we in regarding we’re not we we were never in the Bush administration. We were never in the Obama administration. We’re not in the Trump administration. You can’t affect policy like that. Yes. And and yeah, I don’t think Trump’s people understand geopolitical strategy. It seems like he’s getting people that know which deep state people to get rid of, but not how to replace them.

 

Stuart Turley [00:33:29] And they don’t have that knowledge base to make the decision making policies on long term, just like Warren Buffet had somebody that had your knowledge like on that. But they didn’t have that in the administration, is that right?

 

George McMillan [00:33:47] Yeah. So with with these integrated methodologies, I have I think somebody, you know, could do better with them without.

 

Stuart Turley [00:33:55] Exactly.

 

George McMillan [00:33:56] Whether it be the Trump administration or the private sector. Yeah. Whoever we’re we would like to call them, it would be good.

 

Stuart Turley [00:34:02] But, you know, even in the education center and I keep bringing back to that because it’s been stripped down. You and I have talked about that. All right. So you have the three, three fold mechanism for your information.

 

George McMillan [00:34:14] Yeah. So you have the the big deal there is the more that the well to be in Kashmir is an adapted mine, a burden. Smith told me to read that years ago. It was probably a couple of years after you shared a Nobel with Kahneman. But in that discussion, his office was near where I used to live. It’s. It’s. It’s now the old Dhaka building next to George Mason Law School. And. Yeah, so what? He told me to read that book and to bankers me to talk about the social sciences. Well they went to the Frankfurt school. They didn’t include that. I include that because I’m a political philosophy, political theory major. Also the they just talk about why the social sciences stop the abandoning the scientific project. And each individual social sciences works in its own silo and does not have the fusion. So. Well, I talked about the philosophical and the social sciences. Go glass. We deal with abstract causation and the social sciences dealing with with proximate cause. Because Aristotle invented the university system for the philosophy departments to look for overarching causes and get the social sciences out of their silos to integrate it into a fusion cell. So if this were an intelligence organization, the field of philosophy is supposed to be the fusion cell. So the social the philosophy departments have not learned the MBA and NPA methodologies, you know, learning how to build Cartesian models and flow charting and multivariate analysis and all that kind of stuff to be able to do their function. So the entire range of philosophy professors in the Western University system needed to be replaced decades ago because they haven’t they’re not able to fulfill their job function, not the way Aristotle first outlined it in politics in his other writings. They all need to be fired and replaced, and it actually needs to be set up like every other analytical department is in the private sector. Right. Okay. So the university system needs to be totally revamped. That’s in my unified behavioral theory. I’m taking those same methodologies and the same fusion cell concept that’s that that the governments use in their intelligence communities, their hierarchy, and the same which is patterned after the same way that the multinational corporations, you know, train their analysts. Right. You know, like everything needs to be patterned after the private had the private sector analytical departments, both the government and the university system. I mean, I’m an Austrian school guy, so, yes, I cannot help but to notice how efficient the private sector is and what a debacle the university system and the public sector is. So, yeah, if you’re if if you’re Elon Musk out there in doge.

 

Stuart Turley [00:37:08] Okay. I do.

 

George McMillan [00:37:09] Hand.

 

Stuart Turley [00:37:10] Yes we can I just checked broke on X and in 2021 the Federal government provided $174.9 billion to universities for post-secondary education programs. How much of that was wasted when considering research and development specifically, universities reported 49 billion. So, Elon, if you’re listening to this podcast, I think George and I can help save you some billions of dollars, right?

 

George McMillan [00:37:41] We can massively rate both the university system more efficient, right? And the different data collection agencies and the government will state it that way because it’s not just one. It’s all three happen after private sector. But those models are proprietary. But I got it. I got my slides that I don’t release them in mass either. I just we just throw up sections, right? And then we go. We don’t go over them page by page. We allude to them. Okay. Because I painstakingly flow charted and redeveloped these things. Because once you flowchart how you get raw materials out of the ground, whether it be agricultural or mineral or energy.

 

Stuart Turley [00:38:22] That’s right.

 

George McMillan [00:38:22] And you make consumer products out of it, how you distribute it, those are all feedback loop cycles that can be flow charted. So you feel you flow chart that which is already done by the Nobel Prize works in great detail, right? And then you say, well, okay, how do you block that then? That’s geo geostrategic theory. I’ve already integrated those frameworks in great detail on the slide sets. So you can take the private sector stuff out and replicate it. And the university system, I’ve already got that mapped out or stigmatized.

 

Stuart Turley [00:38:52] Right. And President Trump did say on a post, I believe the other day that he was looking at creating a federal university for free college to tuition, to students to think about funding it through these universities. If you stripped this funding out, Columbia University receiving 1.2 billion. Yale received 776.9 million. Harvard received 676 million. You know, those are only a couple of examples. You could strip out the money and then use it.

 

George McMillan [00:39:29] If you throw out my slide sets real quick, just to show people an example.

 

Stuart Turley [00:39:34] What slide would you like?

 

George McMillan [00:39:35] I would just just go through them just one second at a time. Yeah, I got I got the scene analysis on the left side and the different books or source citations on the right side. So you have the whole you have the theory and the citations and the curriculum on each side that. So I got thousands of pages of slides as on the unified behavioral theory that I developed over time. And yeah, and I got the geopolitical slide that’s done with the curriculum over there. So if you just went. Through that, you would have your integrated theories. It would overcome the. The. Okay. The point is the university system is highly siloed and not integrated. And then those people go into the government in the secret compartmented information. And it’s even more compartmented. So there’s no fusion cell. But I’ve already, since I did the Unified behavioral theory, where, okay, I turned everything into a jock joint operation center. I do stuff because I do. I just do it right. Once you flowchart it, everything and you schemata. I used everything I already got already got three quarters of the work done. Right. You get professors that are siloed that no one area really well. Well guess what? They can flesh out each section. I do a little bit better, but the integration is already done right.

 

Stuart Turley [00:40:50] And that’s it. That’s the biggest portion of it. When you sit back and take take a look, just like we mentioned, the.

 

George McMillan [00:40:58] Go ahead now.

 

Stuart Turley [00:40:59] Go ahead.

 

George McMillan [00:40:59] Well, Brian Berlet does a good YouTube channel on the Eurasian wars. He doesn’t tie it specifically to the Eurasian wars and natural gas the way I do. He, like Mike Barnes, talks about the different color revolutions and ethnic tensions going on. So he’s got a useful channel he’s talking about. There is nobody does an overarching method of analysis, right? Well, the Ph.D. theorists that do that are MBA, PhD theories that do this for multinational corporations, use it to rig the market to make their billions and trillions. Right. Like in that show. Billions on on what was that deal that’s on HBO. Okay so there are there they’re working for people like like that rigging rigging the market. They’re not going to tell you what it is. No, I use it for my geostrategic theory. I’m not going to blast my slides ass out there either. No, we’ll go over different parts of them, but not in not in detail. Right. So, no, don’t stop are proprietary no matter who does it. Then in YouTube, you get a big problem that, okay, intelligent people talk about ideas. So in this case, analysts talk about frameworks of analysis. And then smart people talk about events which are kind of done in Kruger Smart, right? Okay. They’re not the top level. There are all the are okay. And then you have, you know, stupid people just talk about other people. So social media really goes towards the bottom half of stupid people talking about other people. So you can’t really do an overarching grand strategic modeling because you have to teach people theoretical modeling first. Right? Okay. People watch social media for entertainment. I mean, you’re never going to get a lot. You’re Ted Koppel way back with, right? Nightline was always talking about. Yeah, he does his show at 11:00 or 1130 at night or whatever, because there’s no way he could do his type of show during the daytime because there’s not enough consumer demand for it.

 

Stuart Turley [00:42:54] I’m going to I’m going to disagree with you for just the hair here. Now that things have changed in the mainstream media, the mainstream media is dying a very miserable death, which is very gleeful because I think that’s why my podcast has done so well, just as the same as that. President Trump when Barron Trump, I had President Trump go on the No Name podcasts or other podcasts around that were mainstream. And then you have the Democrats now, George, sitting back and saying, Wait a minute, we need us a Joe Rogan. You’re not going to. You had Joe Rogan because he was a Democrat.

 

George McMillan [00:43:33] Yeah. Well, yeah, you sure did. So, yeah. So just to kind of back up and clarify this point, the the the university system is a siloed, massive, logically incoherent disciplines without a consistent theory of micro to macro theory of behavior. So I do evolutionary theory from A to B and Cosmin is that that Bernard Smith told me to read. Right? And then I got the psychological model based on Fromm’s productive versus sadomasochistic character orientation. Right. Why is that important? Because economic theory is about being productive and being cooperative. Guy If you go back to the the geostrategic, we’re not going to physically go back to it, but. Right. He talks about turning production into wealth. So my hand was reading Adam Smith and David Ricardo. Right, right. Those were that was the theories of his time. So he was talking about how to how to stop a productive, cooperative Ricardo type and Smith type of economic development theory with sea power strategies. You know, when you start to take geopolitical theory into economic theoretic terms, right. So those are those aren’t taught. Okay. So I can take those geopolitical theories and I can put it in terms of Aristotle’s I mean, I’m sorry, Erik Fromm’s dichotomy to put a psychological dimension to the macro theories. All right. So my first one is I take Aristotle’s productive versus sadomasochistic character orientation dichotomy. And I linked directly to Aristotle’s proper and perverted forms of government dichotomy and then to the per capita GNP function signifying economic growth over population growth proportions, which then lead to the outcome measure of first and second, more developed countries where you have higher economic growth and lower population growth and a higher wage labor equity rate versus third and fourth world countries that tend to have lower economic production, higher population and a catastrophic you lose wage labor rate ratio proportions. So I can if you have an integrated schematic like that, a dual independent variable system, then it becomes highly, highly predictive as far as technology and population growth trends. Which is what? Which is what? Which is what Robert Fogel’s Nobel Prize was about. And some and the, and the solo Swan economic theory models. You can then relate those to the geopolitical theory because you’re trying to block and thwart rivals, right? You’re also, if you look at Anthony Blinken’s Allies versus Allies book about Russian natural gas pipelines, which was his doctoral dissertation or his or is it was his graduate school thesis, I think, or his doctoral presentation. If he’s got a doctorate in the Middle East, he did it in graduate school. And if you look at it that you’re trying to maintain vassal states. So if you go back to the GW videos, the guy talks about using Russia is going to use natural gas to turn everything into a vassal state. Right. Work that they leave out is General Ismail’s idea of what the purpose of Naito was to keep the Russia, the Soviet Union, out of Europe, in Germany, down in Europe, and keep the United States in the Anglosphere in Europe, while keeping the United States, in Europe and Germany down In Europe, you’re turning Germany, Germany, industrial economy into a vassal state. Right. So the D.W. video doesn’t state that the United States has already done that to Germany. So now Germany, they don’t want to lose the German industrial power through the Russian Federation because while Mackinder Mackinder theory was you’re supposed to always separate Germany industrial power from Russian resources and this is before the pipeline. So it’s only more exacerbated by the creation of pipelines because it’s a much more efficient way to ship energy than shipper rail. And, you know, that part was left out in strategy. Stuff’s less. Right. So if the United States is going to lose Germany and this is geostrategic theory, then they are going to destroy its productive capacity if that player is going to switch to a different team. Wow. So you get all these different geostrategic modeling. So now play the clip on the Duran.

 

Stuart Turley [00:47:54] Now, this is very telling when.

 

Video Clip [00:47:56] You see this way, because, of course, Ukraine is at the source of the whole problem. The reason the coalition is in crisis is because Germany is in crisis. The reason Germany is in crisis is because without cheap Russian gas, without the Russian market, without good relations with China, without any of those things, the German industrial economy is falling apart. We’ve had further declines in production across Germany. I was reading this morning that three years ago Germany was producing 7 billion cars a year. Now it’s down to four. In other words, there’s been a massive collapse in production. Volkswagen is talking about closing down its plants. The Daimler Daimler has stopped effectively production of the Mercedes E-Class, which is the heart of the Mercedes range. The now lumping it together with the C-class. I’m not going to get into people who are interested in know about cars, which I’m talking about. But anyway, all of these things are happening in Germany. The mechanical engineer, the engineering factories are in crisis. The chemical industry, which particularly depended on cheap gas from Russia, is in crisis. So everything is falling apart. The coalition is falling apart. They know there’s going to be elections soon. Lindner basically wanted to bail out, so he staged this whole thing in order to give himself an alibi as to why he’s bailing out. Wow.

 

George McMillan [00:49:33] Okay, I’m starting. Yeah. What we’re doing on our on my telegram channel back in 2022 is since everything is is is predictive. If you take cheap Russian natural gas away, you’re debilitating the multiplier coefficient in Germany. So their whole economy is going to just unwind. So then if you’re a big corporation and you can’t stay competitive at current levels of LNG and prices, energy prices, right, well then you’re either going to go out of business. In that case, what do you. You with your plant and equipment. Okay? You can’t move the plant because it’s on real estate. That does not move. You’ve got the equipment.

 

Stuart Turley [00:50:11] But it’s like a BASF, which was the fertilizer plant went out because it didn’t have natural gas. Right. Now, so close their steel plants there. Volkswagen has already closed several. They’ve just announced they’re laying off more. The industrial de-industrialization of Germany affects the entire EU.

 

George McMillan [00:50:34] Right. So, yeah, the bars S.F. closed. It’s it’s it’s Well, okay. It’s River Valley. Rhine. River Valley. Right. Production center, which is what the European Economic Coal and Steel Consortium was, was based on, you know, the alliance between Germany, France and Belgium and the Netherlands was based on that rally production. Because if you’re going to ship stuff out on rail, you can ship in any direction. But the ride obviously leads out into into the sea or the other rivers on the other side because yeah, you’re after aspirin. Hearst All the big huge weapons manufacturer is in Liege on the river there and you can ship stuff that direction. But the coal and steel going back and forth across those borders fuels, you know, those big metallurgical production manufacturing facilities for a wide variety of military and consumer products, right? So if they can no longer stay in business because coal is not as efficient plus as dirty, nothing is clean as as as natural gas. I mean, Pickens has been, you know, talked about that for a long time. He was talking about everybody. You know, he’s been saying that for, you know, I know since the late 90s, whatever. So here they’re taking Russian natural gas away. So now they’re going to have to move their production facilities. And the fake Rand report, you know, written in the German book was was whoever wrote the fake Rand Report article was was written by a subject matter expert. And he’s right in theory because if they’re going to lose Germany, they want to give away a weak, debilitated player over to the other team if they can’t keep a strong player. All right. So if you’re a German factory and and the United States needs to rebuild its economy because we’ve offshored our jobs during the 1980s, then they want the Germans to move their equipment through the United States. That was what that article was talking about, right? Maybe. But the other of we were wargaming that in my theory is like, okay, some businesses may transfer over. They could take those machine tools and they could move them and increase the manufacturing base in Thailand and Malaysia. Right. Thailand and Malaysia can then get can then get the Gulf of Thailand oil and gas fields that the United States and the seven sister companies developed right after World War two. Right. Okay. And then, yeah, I want to do a whole it’s going to take a month or two for us to get to it. What I want to do, I have a slide set on that. Okay, we don’t have that. And that’s a fascinating slide set because then you realize the degree that the Dulles brothers and Sullivan Cromwell is the best example, how you take their analysts and the multinational corporations develop into these Wall Street firms, how they go into a place like like Thailand right after the Japanese are departing. Right. And they already have their economic development plan set up with the executive branch agencies of the U.S. government. And then they also have the the military strategic plan set up for the Pentagon ready to go and the and the role of the intelligence communities in facilitating the other ones all set up and ready to go. I mean, the Bretton Woods agreement with Harry Dexter White and Keynes already had these plans when they set up Bretton Woods in 40. In 44. So they have these things set up. And when you go over and you learn how these things work, the more you learn how this works, the more you understand how the policy coup started. Okay, Since you can’t change our dual egoistic system of where you vote and invest and spend money in your own self-interest, you can’t change that. What you can do is take these theoretical models of how this thing does work so you can play, so you become a better player, right? So if you make a sports analogy, the pros are the pros and the better teams are, the better teams because they can spot talent and develop it better than the other teams. Right? Well, if you don’t know what the training regiment should be, you can’t train your players better. No. So I have that. I have the unified behavioral theory and the geo political models designed to do that. And again, yeah, we go over them, we skim over them here because yeah, they are proprietary.

 

Stuart Turley [00:54:50] And and I’ll tell you the feedback, George, I just want to give you, I’ve gotten some fantastic feedback from our listeners and I do appreciate your expertise and your time and it is fun to hear some of what people are saying about. Your knowledge on our previous podcasts? It’s great. It is absolutely wonderful. So we’re running out of time for today. We’ve got about 900 more hours we have to do. And I still only touch only a fraction of what you got. But with that being said, people can reach out to you on LinkedIn and that’ll be in the show notes. So is there another way for folks to get Ahold of you?

 

George McMillan [00:55:30] Yes. I’m starting my patriotic account and it’s. Wait, what is that? I should have fired it up before I got on there. It is. Okay. You’re not going to. You’ll never guess what what the title is. It’s the George Macmillan 300 account Backslash GWM three geopolitical modeling. Okay. So. Okay, wait, it’s. Wait. I’m sorry. Let me just. Let me just copy and paste it. Yeah, sorry about that. Now you’re going to have to. Okay, So it’s. Yeah, that’s the link to it there. Now, I just created more work for you because now you’ve got to.

 

George McMillan [00:56:06] Put it in. Yeah. All right. Well, George, again, as always, thank you so much. And I do appreciate all the extra work that you go through in all these sessions. And and again, just as a summary on this, what do we have coming up on our next topic? Because we’ve got a very different one in how it was modeled out. But what is what do you think we’re going to be talking about next?

 

George McMillan [00:56:30] Let’s go. We did the first half of that first section or maybe the first third. I had to go back and look to see how that was Right. We’re going over the 15 major points of the whole entire slide deck. So this opening section is like a highlight reel of the key points from the other sections. And then, yeah, then each section really goes into detail about how geopolitical modeling works. And the key works in that. Because yeah, I mean I need a quick for me work reference guide ultimately. But yeah, it is a thousand page quick reference guide because people do need to get over how compartmented and fragmented the university system is and then the government does that on purpose, right? And then it’s obvious that the private sector, financial companies are taking their MBAs and Ph.D. economists. They’re saying, who’s best? Then they’re sending them to the Yale Grand Strategies classes. They’re very picking who they want to know this information. And then they’re not telling the rest of their analysts to look at this information. That’s obvious. It’s obvious the government knows that. And it’s obvious that the private sector does that.

 

George McMillan [00:57:38] And it’s obvious that the Trump administration would be absolutely handicapped if they didn’t.

 

George McMillan [00:57:43] If they don’t know it. That’s absolutely yeah, that’s absolutely correct. The Deep State and the powers that be are absolutely counting on nobody in the government knowing that. And we can even go. You can see that on the Sean Ryan show and some other quick. That’s all.

 

Stuart Turley [00:57:59] And I want to give Sean Ryan a shout out. I really appreciate everything he’s got going on and we’ve got some other things. So with that, that’ll be it for today. This was Stu Turley president and CEO of the Sandstone Group. And we will see you guys next time.

 

 

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Biden’s DoD Doubles Down On Climate Action As Trump Promises Military Reset

Energy News Beat

The DoD’s focus on climate change over national security reflects Biden’s top policies. Trump pledges to refocus on defense priorities.

Given the state of affairs in Ukraine and the Middle East and the rise of China as a chief U.S. adversary, one would assume that the Department of Defense (DoD) has its hands full combating real threats to U.S. national security. [emphasis, links added]

One would also think that under the fraught geopolitics of the current world, the DoD would be harnessing its precious resources toward identifying future menaces that literally pose an existential threat to the security of the United States.

Climate change does not constitute a current threat to U.S. national security, but the DoD leaders think otherwise.

In fact, the DoD believes that the climate crisis is a “national security priority.”

On December 11, the DoD announced it is very concerned with climate change in Africa because “climate-stressed areas are a recruiting opportunity for terrorist groups.”

Accordingly, the DoD declared,

“The consequences of inaction on climate will be severe, and our allies and partners will face growing security challenges as a result.”

Tragically, this is only the latest example of the DoD being sidetracked into fighting climate change.

More concerningly, this is part of a much larger effort to reorient the military’s primary focus from preventing real-world threats to abating the nonexistent threat of climate change.

In September of 2021, the DoD released its Climate Adaption Plan, which states,

“The Department of Defense (DOD) has identified climate change as a critical national security issue and threat multiplier and top management challenge… [and] must take bold steps to accelerate adaptation to reduce the adverse impacts of climate change.” As expected, the 32-page plan outlines in intricate detail how the DoD must “integrate climate change adaptation and climate resilience across agency programs, management of real property, public lands and waters, and financial services.”

One month later, the DoD released its Climate Risk Analysis, which explained that:

“Climate change is reshaping the geostrategic, operational, and tactical environments with significant implications for U.S. national security and defense. Increasing temperatures; changing precipitation patterns; and more frequent, intense, and unpredictable extreme weather conditions caused by climate change are exacerbating existing risks and creating new security challenges for U.S. interests.”

Soon after, the DoD announced that the U.S. ArmyU.S. Navy, and U.S. Air Force had all created “Action Plans” to mitigate the so-called climate crisis.

Here is a brief snippet from the Navy’s Action Plan:

“The Department must reduce its greenhouse gas emissions and draw greenhouse gases out of the atmosphere, stabilize ecosystems, and achieve, as an enterprise, the nation’s commitment to net-zero emissions by 2050.”

In case you’re wondering, the other two branches of the military have also pledged to be “net zero” by 2050 under their Action Plans.

Of course, the DoD’s pivot to fighting climate change rather than ensuring that U.S. national security is its ultimate priority comes courtesy of the Biden administration.

As Secretary of Defense Lloyd Austin wrote:

“On January 27, 2021, President Biden issued Executive Order 14008, Tackling the Climate Crisis at Home and Abroad, making it administration policy that climate considerations will be an essential element of U.S. foreign policy and national security.”

Fortunately, the Biden administration will be gone soon. Unlike Biden, President-elect Donald Trump understands that the attention of the U.S. military should be laser-focused on protecting the nation from viable threats instead of reducing its carbon footprint.

In 2017, Trump eliminated the term “climate change” from the list of worldwide threats in his National Security Strategy. Rather, Trump made it clear that his administration would focus on Russia, China, and other nation-states that pose a critical danger to U.S. interests.

Moreover, Trump pointed the finger at previous presidents who put “American energy under lock and key” while articulating that he “embraces a future of American energy dominance and self-sufficiency.”

During Trump’s first term, American energy dominance was achieved as the United States became a net oil exporter for the first time in 75 years.

Unfortunately, much of this progress was undone by Biden, who “mobilized a whole-of-government effort” to fight climate change

However, what Biden undid Trump can redo.

When Trump returns to the Oval Office on January 20, 2025, he will do everything in his power to ensure that the U.S. military is solely focused on protecting U.S. national security.

He will also unleash the American energy sector like he did during his first term, which will further cement U.S. hegemony.

The days of the DoD being preoccupied with fighting the weather are over. Going forward, the United States and the world writ large will be safer.

Read more at American Thinker

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Germany facing economic stagnation – central bank

Energy News Beat

GDP is forecast to decline by 0.2% this year, a sharp downgrade from Bundesbank’s previously projected 0.3% expansion

Germany facing economic stagnation – central bankGermany facing economic stagnation – central bank

Germany’s central bank has slashed growth outlook for the EU’s largest economy, projecting that it will contract this year and will hardly grow at all in 2025, amid deepening structural problems.

In its monthly report, released on Friday, the Bundesbank said GDP is expected to shrink by 0.2% this year due to a more persistent weakness in the industrial sector. The forecast is a sharp downgrade of a previously projected 0.3% expansion.

The industrial sector weakness is now largely considered to be structural and is putting a strain on export business and investments, the central bank said. The labor market is also affected, which in turn is dampening private consumption, the report noted.

“Against this backdrop, the German economy is set to stagnate in the winter half-year 2024-25 and only begins to make a slow recovery over the course of 2025,” the Bundesbank said.

Output is set to increase by 0.2% next year, compared to the previously projected 1.1%. For 2026 and 2027, the Bundesbank forecast growth of 0.8% and 0.9%, respectively.

“The German economy is struggling not just with persistent cyclical headwinds but also with structural problems,” Bundesbank President Joachim Nagel said in the report.

He cited uncertainty surrounding geopolitical conflicts, the impact of structural changes and the orientation of future fiscal and economic policy following the Bundestag elections in February. “All in all, the prevailing risks at present are of even weaker economic growth and higher inflation,” Nagel said.

The report said that domestically producing industrial firms should adjust to the longer-term effects of the energy price crisis triggered by the Ukraine crisis, as well as the requirements of the green transition, and the consequences of demographic change, among other issues.

Bundesbank also warned that a potential trade war with the US could push the German economy into recession. If President-elect Donald Trump follows through on his threat of imposing blanket tariffs on all imports to the US, it could slash between 0.2 and 0.6 percentage points off German GDP next year, the Bundesbank said.

The Eurozone’s largest economy has been falling behind its peers in recent years, largely due to a prolonged manufacturing downturn. Germany was the only Group of Seven economy to contract in 2023.

 

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Serbia seeks to reduce Russian ownership in oil giant to avoid sanctions

Energy News Beat

[[{“value”:”

The United States will in the coming days introduce financial sanctions against Serbia’s oil giant NIS, which is majority owned by Russia’s Gazprom Neft and Gazprom, President Aleksandar Vučić said on Friday (13 December).

“We got confirmation that in the next few days, the US will introduce sanctions against NIS because of Russian ownership,” Vučić told Informer TV.

He said the UK and European Union would likely follow the US in introducing sanctions, which will mean that oil shipments through a pipeline from Croatia are halted.

“We are still waiting to get an official paper with details,” Vučić said.

NIS is one of the most successful companies and the largest contributor to the budget in Serbia.

The US Treasury Department did not immediately respond to a request for comment.

Serbia has repeatedly condemned Russia’s invasion of Ukraine in the United Nations and other international forums, but it has resisted Western pressure to impose sanctions.

The Balkan country is dependent on Russian gas. Russia’s Gazprom Neft and Gazprom own 50% and 6.15% of NIS, respectively. The government owns 29.87% while small shareholders hold the remaining shares.

“We will have to look if there is a possibility to reduce Russian ownership below 50% and to talk with Russian partners about it,” Vučić said.

(Edited by Georgi Gotev)

“}]] 

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Week Recap: Exxon’s Expansion, EV Challenges, and Tesla’s Triumphs

Energy News Beat

Weekly Daily Standup Top Stories

EV Sales Slump: A Global Reality Check

Global EV sales are slowing down due to high prices, concerns about charging infrastructure, and reduced government subsidies. Major automakers are scaling back production plans and announcing job cuts in response to the weaker demand. […]

Revolutionary! Mercedes-Benz solar paint could mean Australians never have to plug their EVs in again

Mercedes-Benz has developed groundbreaking new solar paint that could provide all the energy Australians will ever need for their daily motoring. And the tech could be introduced within five-to-10 years. Revealing the tech recently in […]

Stop the ‘green hallucinationists’ plan to close all 200 coal power plants.

America continues to subsidize the development of occasionally generated electricity from weather dependent wind turbines and solar panels, to replace coal power plants, with the expectation that America, with about 4% of the world’s population, […]

Democracy Is Dead: A Coup Against Right Wing Movements Is Underway In Europe

In the past, progressive elites were not generally threatened by the campaigns of the old center and center-right parties because those groups have long been managed by fake conservatives with no intention of disturbing the […]

US Sees Small Global Oil Deficit in 2025, in Outlook Reversal

The US reversed its forecast for a crude glut next year and is now calling for a small oil-market deficit. Global oil consumption should exceed output by 100,000 barrels a day in 2025, according to […]

GM Shuts Down its Misbegotten Robotaxi Money-Pit after Acquiring Cruise in 2016 and then Blowing $10 Billion on It

Cruise was supposed to generate $50 billion in revenues by 2030, according to GM’s former hype, which Wall Street ate up. By Wolf Richter for WOLF STREET. General Motors announced Tuesday afternoon, after blowing $10 billion on its […]

Highlights of the Podcast

00:00 – Intro

00:56 – EV Sales Slump: A Global Reality Check

02:44 – Revolutionary! Mercedes-Benz solar paint could mean Australians never have to plug their EVs in again

04:09 – Stop the ‘green hallucinationists’ plan to close all 200 coal power plants.

06:19 – Democracy Is Dead: A Coup Against Right Wing Movements Is Underway In Europe

08:11 – US Sees Small Global Oil Deficit in 2025, in Outlook Reversal

11:12 – GM Shuts Down its Misbegotten Robotaxi Money-Pit after Acquiring Cruise in 2016 and then Blowing $10 Billion on It

15:17 – Outro


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Follow Michael On LinkedIn and Twitter

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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 This is the weekly recap. It has been an absolute crazy week on the news desk. I mean, we have just had so much fun. We’re so grateful for all of our listeners. The staff is putting together all of our top stories for the week. We’ve had everything from Exxon dropping more oil. They’re putting out $28.33 billion more. We’ve had all the other stories in there. I’m interviewing some folks. I was on an Vandar steel show on her show on Monday. That was phenomenal. I’m interviewing about 4 or 5 other new folks coming around the corner. So buckle up, listen and turn this over to the staff. Have a great day. [00:00:55][45.6]

Stuart Turley: [00:00:56] EV slams a global reality check. Global TV sales are slowing down due to high prices, Concerns about charging infrastructure and reduced and government subsidies reduced government subsidies. Fiscal responsibility is finally starting to show up just as President Trump is taking office. And I have to give President Trump a shout out for being in Notre Dame and absolutely representing the United States as a president should. It is like Poppa has come home and the adults are paying attention. Everybody wanted to talk to President Trump and they are happy to see him. I couldn’t be happier. And carmakers have scaled back production plans, with U.S. output expected by 50% and European gas plans by 29% next year. EV market share is expected to reach 23% in Europe and 13 in the US. I tell you, Ford has just come up and they’re standing up to the EU and they’re saying we’re not going to match or meet your requirements because your requirements are crippling us. So hats off to forward. And I’m hopeful that Ford will do the same thing. They’re not going to have to do that in the U.S. because the EV mandates are going to change in the U.S. If you want to, Navi, by all means, let’s let’s you have an EV. I recommend Tesla. I am trying to save up for a cybertruck want a cybertruck. But because of the trailers that I tow around on land, I got everything I need. I want to have a Ford 250 or 350. I want to have a cybertruck. I’m all off and running between that now where we get to the point where I only need one. I’ll be okay with that. But in the meantime, I want to need two. [00:02:43][106.9]

Stuart Turley: [00:02:44] Revolutionary Mercedes Benz. Solar panels could mean Australians could never have to plug in their EVs again. This is actually very, very cool. First experimented on the 2022 vision. E q x x concept. The German’s brand scientists initially thought tech had limited scope for mass production until the experiments were carried out with prototypes coated with paint in real world scenario. I think this is actually very cool. The number equates to 60% of the average daily commute or free energy. This is exciting from the standpoint that yeah, the whole car becomes a solar absorbing charging station. Here’s where I got a retro. Is this really going to work? Because if it is that expensive and you walk by and you go, Oops, and you bump the car and you scratch it, does it ruin the charging capability by X number? And you all have had cars out there that fade over time. How expensive is that paint job over time? Is it going to last ten years and is it going to degrade by thumping? Holy smokes, Can you imagine losing your ability to even charge your car in a hailstorm? West, Texas? Man, that’s a tough thing to do. So a very, very good I love energy technology, and I think that’s a very, very good possibility out there. [00:04:08][84.2]

Stuart Turley: [00:04:09] Stop the green and just plan to close all 200 coal power plants. Coal is the world’s most abundant and reliable energy source. The United States has the world’s largest coal reserves of 15 major coal producing states. Montana has the largest coal reserves with 114 billion tons. There are 200 coal plant burning power plants in the United States, with many concentrated in Pennsylvania, Texas, Indiana and the Powder River Basin of Wyoming and Montana. And I’ll tell you what, there’s worldwide there’s over 2400 coal fired power plants. And on the other 92%, those you know, they’re being done in China. Right now, China has 1142 operating coal power fired plants and is now building six times as many coal power plants as the rest of the world. Byline This story is from Ronald Stein. He is a good friend of the show. And George Harris, a Ronald Stein is a really cool guy. He’s got a great book. I love his material. And here’s a couple of great points in here. Given that Jane is also currently leading the world in construction of renewable energy sources such as wind and solar. China’s increased reliance on coal contradicts the justifications offered by the CCP. This is absolutely horrific. The United States is buying all of this equipment that is fiscally irresponsible from the day he is set up. It is never going to mean net zero Wind farm is fiscally irresponsible. I have been saying this for years. The more money we invest in renewable energy, the more fossil fuels we will use. And again, this is just another example of that. Shout out to Ronald Stein, great author. I recommend you follow him and his newsletter is in the show notes. [00:06:20][130.9]

Stuart Turley: [00:06:20] Democracy is Dead. A coup against a right wing movement is underway in Europe. I really enjoyed the conversation today with the energy realities on the Monday morning podcast in Germany, the establishment is attempting to ban the reality a successful AfD party on the grounds they represent a return to fascism. Over 100 legislatures back the resolution. Here’s what we’re seeing around the world. The left has absorbed up into the climate and energy fallacy of green energy, and then the far right is supporting that, like the rhinos in the United States. We need to now have a worldwide awakening of people saying we want low cost, we just want to live our lives. We want to make sure that we can have our kids and raise our food and not be and not be killed or anything else. So let’s all try to get down that road. This article from Zero Hedge is absolutely wonderful. The elites are also attempting to use lawfare against Le Pen, countering charges of the misuse of EU funds. Lawfare is another form of them just trying to wipe out any conservatives. What we’re seeing is we’re seeing a rise of the death of the rhinos in the United States. I, for one, am tired of any politician that is not America first. If you’re a rhino, you need to be primaried. If you are a candidate wanting to go ahead and go out and challenge the rhinos, please contact me. I’m looking forward to interview anyone that is primaried out the senators that are not America First. I want to help support that in any way possible. [00:08:10][109.5]

Stuart Turley: [00:08:11] US Sees. Small Global Oil Deficit in 2025. Oil Outlook Reversal. This story was on Bloomberg, and I really like this from the standpoint the downward revisions from come after OPEC and its allies deferred supply increases for three months, which the EIA expects will tighten the market. Investors are closely watching balances for next year as weak demand and rising production outside of OPEC. Keep oil futures Rangebound. I’ll tell you what, I follow Josh Young on X. He is one cool cat. He knows what’s going on out there and he put out on an exposed. If U.S. inventories are declining, couldn’t the oil just be used floating off for storage? Brian his answer was it could. But here’s what the EIA shows for global petroleum inventories, including oil and water, and it’s showing that it’s down. And this is also of huge I’m a huge fan of and I asked both of these accounts are listed in this article so you’ll want to follow them. And you take a look at the gas imports and gas exports. Beautiful chart there when you see who’s importing what and in how highly recommend, follow both of them. But President Trump put out on on a true social. Any person or company investing in $1 billion or more in the United States of America will fully receive expedited approvals and permits, including but no way limited to environmental improvements. Get ready to rock. President Trump is on to something here, and here’s where we’re going to need the energy. New secretary, Chris. Right. We’re going to need Doug Burgum, the interior secretary of the interior. We’re going to need Lee Zeldin all hands. On deck. This is important because we’re going to have to have all three of these guys working together. And we are about to blow the United States energy through the roof. We’re going to have to have the lowest kilowatt per hour in the United States to attract the manufacturing that we need to have here. And I believe those three gentlemen are the team that can get that done. So you have President Trump over here saying, wait a minute, I want to attract businesses to the United States. Here’s the three key guys that can help get what President Trump just put out there. None. I hope everybody is listening. And by the way, I’d love to still have all three of you on my podcast. I’ve had Chris Right. It went bonkers. Again, thank you for your time. President Trump eventually. I would love to interview you as well. And also Doug Burgum would love to visit with you and Lee Zeldin. You’re a rock star. I’ve loved all of your episodes on the Gutfeld show. Thank you very much. [00:11:11][180.6]

Stuart Turley: [00:11:12] GM shutdown. It’s I don’t want to mispronounce this one MySQL gotten robo taxi Money Pit after acquiring Cruz in 2016 and then blowing $10 billion. I have said this before. Tesla and Elon will be a survivor in the TV space and I guarantee it. Elon’s knocking it out of the park. His automation is there. This is another reason why GM, Ford and all the others need to get out. Here’s my message to GM and Ford. Work on a hybrid model. There is a need for the flyover states. I would buy a hybrid as a second car. Right now. I’m going to be buying a Ford 250. I’ve got too much land work to do. I need the whole staff. A cybertruck just doesn’t have the range that I need. I would love to have a cybertruck that’s going to be probably my fourth or fifth car that I buy to use just because I want a cybertruck. General Motors announced Tuesday afternoon after blowing $10 billion on its Robotaxi startup no longer. Fund crews bring ownership out of the 97 to 97 via agreements and shareholders, acquire the remaining share shares and shut down the Robotaxi operation fold Cruise’s technical team into its own autonomous assisted driving effort for personal vehicles, which includes the Hands off Eyes on Driving feature now available on two dozen GM models. Elon got them again. You know, he’s out it out developing it and doing great. Last month under the first of GM, then Cruise admitted the allegations of the DOJ accepted the criminal charges brought against him by the DOJ and settled. Holy smokes. Cruise halted operations after the permit, and San Francisco was operating in Phenix, Dallas, Houston and Miami, and November of 23 issued a recall to its 950 robotaxis and laid off a portion of its 4000 employees. Among other housecleaning items, GM did it cruise at that time? I’m sorry. I get tickled at this. This is all about, you know, anyway, how do you waste $10 billion and be responsible to your shareholders? Oil and gas executives have heard the ESG mandate of investors over the last five, six years. They are giving back their money very hugely. And all I mean, when you sit back and also take a look at Exxon, Exxon to increase oil production by 18% in 2030. So we’ve got oil and gas. Oil and gas executives are giving their money back to their shareholders. They have heard this loud and clear. If you take a look, it’s unveiled in Exxon Mobil as unveiled to increase spending by 28 to 33% billion annually. That’s amazing when you sit back and take a look. They are going to keep on going, doing what they’re doing now. If you’re a friend of the show and you listen to this podcast, Michael and I have talked about this on the past, and that is the difference between the U.S. operators exploration and production units. They went ahead and they went through and they stayed the course. Occidental And in the exploration space, Occidental did a combination of carbon capture, looking after getting the government money and looking at going that way. That was a fairly good one. But when the money runs out, Occidental is going to be in a little bit of a financial pickle. When the money for the subsidies on carbon capture don’t come in. So now you take a look at Exxon, Chevron and all of the 50% of the oil in the United States is made from. Private companies. Those companies are giving money back is a good lion’s share of it to investors and stakeholders. [00:11:12][0.0][657.7]


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As utility shutoffs soar in Minnesota, Xcel Energy agrees to consumer protections and racial disparities study

Energy News Beat

​[[{“value”:”

Amid a surge in utility shutoffs, and in the face of a groundbreaking study finding racial disparities in those outcomes, Minnesota’s largest utility is taking a closer look at the issue.

In a November agreement with consumer groups and the state’s Public Utilities Commission, Xcel Energy has outlined a series of steps to provide more information to customers and make it easier for them to restore service.

Xcel also agreed to hire an outside consultant to conduct a one-year study of disparity issues related to disconnections and outages and, separately, do its own analysis of outages. The move came in response to a University of Minnesota study released earlier this year that found that people of color were more likely than White households to have their service disconnected for falling behind on bills, even when controlling for income and home ownership status. 

The agreement falls short of a demand from the Minnesota Attorney General’s Office for Xcel to institute a temporary moratorium on shutoffs until racial disparities are addressed, based on a recommendation from Fresh Energy and a coalition formed by Cooperative Energy Futures, Environmental Law & Policy Center, Sierra Club, and Vote Solar. 

Erica McConnell, staff attorney for the Environmental Law & Policy Center, represented the clean energy organizations advocating for grid equity. She supported the agreement but believes it will do little to help reduce disparities in shutoffs. 

“These are very important improvements that don’t really address — and the commission didn’t discuss — the disparate impacts and the racial disparity (of disconnections) and how to address that specifically,” she said.

A temporary moratorium on disconnections would have allowed for time to study disparities and find ways to address them.  

“The commission didn’t talk about that,” McConnell said. “They didn’t address it at all, so that was disappointing. I understand it’s uncomfortable and it’s a tough issue, but it’s disappointing they shied away taking it head on.”

Beyond the challenge of disparities, Xcel’s number of service disconnections has skyrocketed. More than 45,000 Xcel customers saw their power shut off this year, a number that has grown significantly over the last two decades. 

Xcel agreed to many proposals from the Citizens Utility Board of Minnesota, the Energy CENTS Coalition, clean energy organizations and the Public Utilities Commission to create more consumer protection against shutoffs.

Xcel Energy’s involuntary disconnection notices began rising significantly in 2023 before skyrocketing in 2024, when shutoffs doubled the prior year’s total for May through July. Despite Minnesota’s cold weather protection rules that limit disconnections during the winter through April 30, shutoffs even grew during the winter months.

A line chart showing utility disconnections by month, showing between 2,000-6,000 typically in May for recent years but a spike to nearly 10,000 in 2024.
This chart, based on Xcel Energy data and submitted by consumer and clean energy groups to the Minnesota Public Utilities Commission, shows a sharp increase in utility shutoffs in 2023 and 2024, which the groups attribute to the utility’s new ability to use smart meters to disconnect customers remotely. Credit: Minnesota PUC Docket E002/M-24-27

Clean energy and consumer organizations point to Xcel’s ability to remotely disconnect customers who have smart meters as a major reason for the shutoffs, along with inflation, escalating rate increases and challenging repayment requirements. Xcel had demanded customers pay 50% of what they owe to reconnect, which may have violated Minnesota law, according to the Citizens Utility Board. 

Xcel’s pact with the Citizens Utility Board and Energy CENTS “is going to make payment agreements more affordable and hopefully help households that are behind on their bills avoid getting shut off and get caught back up,” said Annie Levenson-Falk, executive director of the Citizens Utility Board of Minnesota.

The utility board and Energy CENTS Coalition forged the agreement with Xcel under the purview of the Public Utilities Commission, which will issue a final order later. The agreement requires the following:

  • Customers will pay 10% of what they owe to have the power turned back on, instead of 50%.
  • The amount due will have to be at least $180 before Xcel can send a disconnect notice.
  • Xcel cannot shut off power until a customer reaches a $300 past due balance. Xcel’s data from this year showed disconnected customers were $441 in arrears on average in October and much higher in other months.
  • The utility must wait at least 10 days after a shutoff notice has been sent to disconnect, up from five days.
  • Xcel must post clear disconnection and payment policies on its website, along with information about customers’ right to develop an affordable repayment plan. Any changes Xcel makes to shutoff policies and repayments have to be reported to the commission, and it must collect data on repayments and customer agreements.
  • A variance allowing remote disconnections without field visits from Xcel remains, but the utility must contact customers via voicemail and use at least one other form of electronic communication.

Xcel spokesperson Kevin Coss said the utility believes “this agreement is a great step toward reducing disconnections for some of our customers who continue to struggle economically.”

George Shardlow, Energy CENTS executive director, said he thought a clearer explanation of the disconnection process on Xcel’s website brings a transparency that had been lacking.

“I don’t think the average person even knows that they have a right to negotiate when they’re struggling to pay their bills,” he said. “It’s all sort of opaque. We’re excited to see better documentation of people’s rights on Xcel’s website.”

Minnesota law says utility customers are “entitled” to a payment plan they can afford, Shardlow said. Customers who cannot afford the 10% down payment can still negotiate for a settlement that fits their budget, he added.

Shutoffs have been growing. This year Xcel sent disconnection notices to 51,000 customers in January and 71,000 in July. But not all notices result in shutoffs. The highest month for disconnections, May, saw more than 10,000 shutoffs. By August, slightly more than 8,400 customers had been disconnected.

Coss said Xcel works with customers to avoid disconnection by starting a nine-week process of contacting them through multiple channels to “point them to available options for energy assistance — both through the federal Low Income Home Energy Assistance Program and our own affordability programs — and offer flexible payment plans tailored to their circumstances.”

Minnesota also has cold weather protections that greatly reduce utilities’ ability to disconnect customers in winter months. But people who fail to pay their bills in winter see their balances grow, leading to higher disconnections in summer when they fail to catch up.

Xcel agreed to monitor progress and collect more data on racial disparities involving customers involuntarily shut off. The utility has already hired a third party evaluator, as the agreement requires, to study its shutoff policies and hold stakeholder engagement meetings during the year-long process.

Coss said disparities result in inequities throughout society and Xcel has been doing its part to address them. The utility has worked with the study’s authors and advocacy groups to identify actions to reduce disparities, he said.   

Earlier this year, the commission also approved a proposal by Xcel for a pilot program that will provide bill credits to select census tracts with high levels of disconnections. Coss said Xcel will provide $500 bill credits to customers in low-income census areas who have a greater than $2,000 past-due balance, using money available from a quality of service program.

Minnesota Public Utilities Commissioner Joe Sullivan said he believed the agreement negotiated among the nonprofits and utility would reduce the financial strain on households facing disconnections and assist Xcel in recovering debt.

“I thought that in that docket people came together and were constructive,” he said. “I feel like I’m hopeful that the order will make some progress.”

PUC Chair Katie Sieben said the commission is “always looking at affordability, and especially as it pertains to low-income customers, I think we have a great track record on working with stakeholders and with utilities to provide robust low-income assistance to customers.”

She mentioned the commission’s role in approving an Xcel pilot to decrease payments for low-income, low-usage customers and a September decision that used a penalty for the utility’s service quality underperformance to provide bill credits to around 1,000 customers with the oldest outstanding balances in low-income census tracts.

The agreement does not solve the problem of low-income customers struggling to pay utility bills. Shardlow said Energy CENTS and the Citizens Utility Board lobbied the state legislature to allow households to apply for energy assistance funding the entire year instead of the current policy of having a deadline of May 31. Only 20% of eligible Minnesota households participate in the program, he said.

Levenson-Falk wants Xcel to consider eliminating the 1.5% late fee it charges customers on their balance, or consider donating the money to affordability programs.

The Citizens Utility Board also wants Xcel to develop a plan to reconnect customers quickly on days of high heat or poor air quality. Coss said Xcel will evaluate reconnecting customers disconnected during days of air quality alerts.

Levenson-Falk said the agreement at least makes progress. “I think we resolved everything that we had discussed with Xcel but that’s not to say that we think this is going to solve the problem, because, of course, there are still going to be continuing shutoffs, and those are still very concerning,” she said. “There’s still more work to do.”

This story was updated to include a statement from Minnesota Public Utilities Commission Chair Katie Sieben.

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