China Nuclear Lead

Highlights of the Podcast

00:00 – Intro

01:05 – Why China is Winning the Nuclear Energy Race

03:16 – EU gas imports from Russia soar – media

04:24 – Chevron Move to Boosts Venezuelan Oil Exports Amid U.S. Policy Shift

05:36 – Eni, TotalEnergies to send Cyprus gas to Egypt’s Damietta LNG export plant

07:18 –  California Governor Newsom has positioned the state to be a national security risk for the entire USA

09:47 – Outro

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

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Stuart Turley: [00:00:10] Hello everybody. Welcome to the Energy Newsbeat Daily Standup. My name’s Stu Turley, President CEO of the Sandstone Group. It is just crazy out there today. Let’s go through the top stories. Why China is winning the nuclear energy race. Wow, didn’t see that one coming. EU gas imports from Russia soar. Still can’t keep buying some entertainment. Chevron moves to boost Venezuelan oil exports amid U .S. policy shift. Gotta love it. ENI, total energies, energize, as Michael calls them, to send Cyprus gas to Egypt’s Dementia LNG port. California Governor Newsom has positioned the state to be a national security risk for the entire USA. I couldn’t even get that horrible story out. This is from a great friend of the show, Ronald Stein. So let’s get ready to rumble here. [00:01:05][54.0]

Stuart Turley: [00:01:05] Why is China winning the nuclear energy race? This one is very interesting when you consider the top three bullet points are China has significantly increased its nuclear energy capacity in the past decade, positioning itself to become the largest nuclear energy producer. It’s actively developing advanced nuclear technologies, such as a small modular reactors in thorium based fuel, such as the ones that Copenhagen Atomics. The cost in time to require new built reactors in China is substantially lower than the United States, giving a huge competitive advantage. At the same time, China has been rapidly building out its nuclear capacity. It’s also been other novel technologies. This is important. We’ve got other great companies in the United States, too, but we have got to get out of the regulatory business of stopping nuclear. This is a quote from Liu Tezhong, a Chinese national nuclear company. We continue to advance nuclear comprehensive cooperation with old friends such as Russia and France and expand in -depth cooperation with new partners such as European countries. I’ll tell you, this is absolutely important when you take a look at his next statement. We plan to establish a research and development center in Eastern Europe. The size and opportunity to accelerate a global innovation and resource flow reshuffling continuously to increase the participation of international scientific technology talents. This is where the United States is failing is that we are not exporting our nuclear great capacity. We’re not helping other people, other countries are reducing their carbon footprints, but yet we’re rather not interested in any of that. So this is something that if we really wanted to export technology and work on trading partners, I think exporting our nuclear reactors and fleet capabilities would make for long -term business partners. I think it’d make great. [00:03:16][130.9]

Stuart Turley: [00:03:16] Let’s go to the next story here. EU gas imports from Russia soar. This was pretty interesting. The block imported almost two billion dollars worth of fuel in December. Here we are. We’re just now getting those reports in. Russian natural gas purchased by EU member states jumped nearly two billion pounds in the final month of the last year, the highest point since 2023. TASS reported on Monday citing the Eurostat data. The surge occurred ahead of Kyiv’s suspension of pipeline gas transit through Ukraine. As I had mentioned before on the podcast, we’ve been seeing through the Turkstream pipeline. It is stuff. So the remaining shipments of pipe natural gas from Russia are currently going through the Turkstream pipeline, which runs from Russia to Turkey via the Black Sea and then to the border of the EU member Greece. So this is pretty nuts. We’re going to see an end to the war. And I know that deindustrialization is going on and you hear me say that all the time, but I bet people will be glad to see the war over. [00:04:23][67.2]

Stuart Turley: [00:04:24] Chevron moves to boost Venezuelan oil exports amid US policy shift. Chevron plans to ratchet up oil exports from Venezuela to a seven -year high as a reset the country’s relationship with the US eases on concerns of a trade restriction will increase. Exports of synthetic oil from Chevron’s Petro Air project are expected to rise about 50 % about 143 ,000 barrels per day, the highest since March of 2018, according to the preliminary report schedules compiled by Bloomberg. That’s pretty cool. This is a quote of the Trump administration’s immediate priority is immigration, not Venezuela re -democratization, said Fernando Ferreira, Energy Group’s director of geopolitical risk. The Maduro -Granelli meeting is promising for Petrol’s day, Venezuela and Western oil companies operating in Venezuela and supportive for Venezuelan production. You have to pick your battles and President Trump and his team is taking a look at it. But believe me, I guarantee you it’s on his radar. [00:05:34][70.3]

Stuart Turley: [00:05:36] Let’s go to the next story here. ENI, Total Energy’s, as Michael would say, to send Cyprus gas to Egypt’s Dominia part LNG export plant. This is very important when you consider the Middle East area because the Egyptian import has also had to be used as an export. So it’s import -export facility, depending on how the natural gas is flowing in the area. The two energy firms signed in Cairo Monday, the host government agreement with Egypt and Cyprus for the exploration of Cyprus, Kronos Block 6 reservoirs. This is huge. It outlines a comprehensive framework enabling a rapid deployment of the Kronos glass gas discovery offshore of Cyprus. Love me a nice Club Med story. We want to see more of the natural gas in the area drilled. And this is great news for all of them. [00:06:31][55.4]

Stuart Turley: [00:06:31] As I get ready to finish up on the last story here, I want to give a shout out to Steve Reese and the Reese Consulting Group. They are a sponsor of today’s show and we absolutely love and appreciate their support. And if you’re in the United States or you have gotten natural gas, I would give them a call because they are critical and are some of few people that understand auditing and understand cradle to grave natural gas business. And they are exactly what you would need if you’re in the natural gas space. They can understand all the way from the LNG cradle to grave to Germany and all these other great things. So hats off to Reese Consulting. Their ads are on energynewsbeat .co. Go take a look and give them a shout out. [00:07:18][46.4]

Stuart Turley: [00:07:18] The last story for today is from Ronald Stein, great friend of the show. California Governor Newsom has positioned the state to be a national security risk for the entire USA. Holy smokes, Ronald, you’ve got it dead on right. California is home to nine international airports, 41 military airports, three of the largest shipping ports in America, as well as more than 30 million registered vehicles, all of which cannot operate without imported foreign oil from other nations like Saudi Arabia, Ecuador, Iraq, Colombia, and Russia. Thus, California is a serious national security risk for America. This is a fabulous story from Ronald and I want to give him a hug. Newsom’s policies continue to force California, the fifth largest economy in the world, to be the only state and continuous America that imports most of its crude oil demand from foreign countries. That is energy hypocrisy, if you can imagine that. That dependence has increased imported crude over from 5 % in 1992 to 60%. I’ll tell you what, the foreign countries that are making a lot of money off of Governor Newsom, maybe we need to have Doge take a look at how money’s flowing in this, as this may be very strong issue coming forward because I believe Doge is also going to be rolling to the states as they get around and looking at accounts as well, because Doge is a legal entity and has rights to do better jobs. So if they take any federal money, they are going to be open for audits. So this is going to be pretty interesting to see how all this rolls around. One of the big things here, California uses 1 .45 million barrels of oil each day with well over 520 million barrels per year for the aviation, gasoline and diesel fuels manufactured from crude oil, as well as the oil derivatives manufactured based on more than 6 ,000 products in our society.Ronald Stein is actually one of the great energy thought leaders out there and his link is in the article, which will be in the show notes there. So please go sign up and get updates from Ronald Stein and want to give him a shout out. [00:09:47][148.7]

Stuart Turley: [00:09:47] So with that, like, subscribe, read this to your pets, read it to your kids, let them know that energy security is national security and have an absolutely wonderful day out there. We’ll talk to you guys soon. [00:09:47][0.0][572.9]