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

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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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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