Solar has trouble with the E in ESG – BlackRock CEO exposes ESG investing hypocrisy – How do we make the grid more sustainable?
Bank Runs: When Banks Get Caught in a Spiral of Fear
The collapse of Silicon Valley Bank (SVB) and the wider crisis that ensued has once again made clear that banking is a confidence game. Once that confidence is rattled and customers lose faith in a bank or the entire […]
Solar industry feeling the heat over disposal of 80 million panels
Newswise — The renewable energy sector is facing a quandary: how Australia will dispose of 80 million solar panels in an environmentally friendly way when they reach the end of their life. Paradoxically, one of […]
BlackRock CEO Lies to Investors, Says Oil & Gas Now OK
BlackRock, the largest investment bank in the world with some $10 trillion in assets under management, is hurting. BlackRock CEO Larry Fink insists that public companies adopt ESG (environment, social, governance) policies that include reducing […]
How Can We Update the Grid to Be More Resilient Against Natural Disasters?
Natural disasters are becoming more frequent and intense, placing unprecedented pressure on a fragile electrical grid. According to a Food and Agricultural Organization report, climate and weather-related disasters have quadrupled from 40 events annually in the 1970s […]
Report: Nearly Half of ‘Climate Change’ Companies in U.S. Banked with Failed SVB
Half of the companies in the U.S. devoted to climate change and biotech banked with the now-failed Silicon Valley Bank (SVB), leaving many of those companies looking for financial backers willing to take on the […]
Global Layoffs Extend Far Beyond Big Tech – Amazon takes the top spot, and energy only looses 3,700
Massive cuts at tech giants like Meta and Microsoft dominate headlines, but don’t tell the whole story. The collapse of Silicon Valley Bank has sent shockwaves through an economy already shaken by mass layoffs and […]
Highlights of the Podcast
00:00 – Intro02:35 – When banks get caught in a spiral of fear04:14 Solar Industry is feeling the heat over disposal of 80 million panels06:46 – BlackRock CEO lies to Investors says oil and gas is now okay08:16 – How can we upgrade the grid to be more resilient against natural disasters?10:56 – Nearly half of climate change companies in bank failed with SVB12:34 – Global layoffs extend far beyond big tech. Amazon takes the top spot and energy loses only loses 3700 worldwide14:29 – Outro
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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.
Stuart Turley: [00:00:14] Hey, everybody. Welcome to the Energy News Beat Podcast Daily Edition. Today is Wednesday, March 22nd. Welcome and I know that you’re going to have an absolute band tastic day today. The Fed is going to be announcing some of their next steps. Should be entertaining to watch. We’ll keep an eye on that for you in the morning as well, too. [00:00:37][22.9]
Stuart Turley: [00:00:37] But for tonight, Michael’s on assignment I think he’s lounging on the couch, but we’ll check in with him tomorrow. Let’s take a look at the stories for today. Bank runs when banks get caught in a spiral of fear. [00:00:51][13.6]
Stuart Turley: [00:00:52] Let’s talk about the solar industry here on our next story. Solar industry feeling the heat over disposal of 80 million panels. BlackRock CEO on the SEO. Next on the list here lies to investors. It says oil and gas is now okay. That’ll be a fun one as we come along to the grid. [00:01:14][21.4]
Stuart Turley: [00:01:15] How can we upgrade the grid to be more resilient against natural disasters? So this is a big topic. We all want to be able to turn the lights on and plug things in. This will be a great one. Nearly half of the climate change companies banked with the failed SVB. That’s a that’s a big question. So we are going to take a look at that. And it’s not necessarily just a climate change crisis. It’s a financial crisis and we have an energy crisis. So we got the trifecta going on for us here. [00:01:48][33.8]
Stuart Turley: [00:01:49] And with that we have Global layoffs extend a far beyond tech. Amazon takes the top spot, and energy only loses at 33,700 pretty amazing. Now, suddenly you might want to be a roughneck out there. [00:02:06][17.2]
Stuart Turley: [00:02:07] So, hey, Welcome, Everybody, and thank you for listening to us our podcast numbers are going through the roof. We appreciate every single one of our listeners and we like being resource for you. [00:02:20][13.6]
Stuart Turley: [00:02:20] So go ahead and subscribe Like pass the word along Tell your kids, Tell your bankers, Tell everybody about the podcast, like and subscribe. So our first story here is bank runs. When banks get caught in a spiral of fear. This article came out from statistics. They are a very good group statistics excuse me group. They always have good graphics and it’s about FUD, fear, uncertainty and doubt when bank runs get caught in a spiral of fear. [00:02:54][33.3]
Stuart Turley: [00:02:54] Michael and I talked about this the other day and it’s right now the world does not have or has an advantage that everybody has on their phones they can sit here and text go, Hey, the bank has no money. And instead of having to get in your horse and carriage and drive to town, you can just move all your money from your phone. [00:03:13][18.9]
Stuart Turley: [00:03:14] So the first one is perceived or actual weakness of a bank next goes to uncertainty and fear. I call that FUD. As we said, fear, uncertainty and doubt. Customers would draw confidence stalls even further. Mass withdrawals caused worsen liquidity problems banks are forced to sell their assets, fear turns into panic and then insolvency and collapse. Are we done yet with the banks? Let us know what you think we want to know what you think is coming around for the banking industry. [00:03:48][33.9]
Stuart Turley: [00:03:48] Our next article is all on EnergyNewsBeat.com go take a look at this one I want everybody, everybody that has listened to the show understands I don’t care what type of power we use. Let’s use the lows. Lowest cost kilowatt per hour to all people of the planet with the least amount of impact on the environment. That’s the big catch. [00:04:12][24.0]
Stuart Turley: [00:04:13] Now, the solar industry is feeling the heat over disposal of 80 million panels. This article actually comes from Australia, and so the Australia was huge in stepping up into the renewable space. Now Australia has to dispose of 80 million solar panels in an environmentally friendly way. That is really not easy to do because there’s so many not so eco friendly products in the solar panels. [00:04:49][35.3]
Stuart Turley: [00:04:50] Now here’s some other facts Australia has one of the biggest, highest uptakes for solar panels in the world, which is outstanding. But little thought has been given to the significant volume of panels ending up in landfills 20 years down the track when they need to be replaced. There are some simple recycling steps that can be taken. Begin to reduce the volume, including removing the panels, frames, glass covers and solar collector before they’re exposed of time is money. How many people are going to do that? There’s already landfill bans in place. [00:05:25][35.2]
Stuart Turley: [00:05:25] So here’s some stats down here at the at the bottom that I think we all need to pay attention to. About 3 billion solar panels are installed worldwide containing almost 1.8 million tons of high grade silicon. The current value is about 7.2 billion. Considering this, the recycling of solar panels has got the potential to be commercially viable. [00:05:53][27.3]
Stuart Turley: [00:05:53] Here’s a big got you. I love this quote and I think we need to I like where this is going, but you have labored to undo the panels. You then have to source it and produce it and then put it in to where they’re not transporting it across wide areas. So you’re going to have to set up recycling facilities around so that you don’t have to ship them around. [00:06:18][24.3]
Stuart Turley: [00:06:20] I think it’s great if we could get to a point where we can recycle wind and solar. I think it would make a huge difference. We could all learn from folks like Fry battery out of Norway they’re going to energy storage and they’re getting their batteries to a renewable state that’s where we need to go. [00:06:41][20.8]
Stuart Turley: [00:06:42] All right. Let’s go to the little bit of ESG investing here. BlackRock CEO lies to Investors says oil and gas is now okay. I thought this was pretty interesting. It’s very short article, but BlackRock lost over 10 trillion. Oh excuse me. They have 10 trillion in assets under management and he said that Larry Fink insists that public companies adopt ESG, social and governance policies that include CO2 emissions. But yet, in the company’s latest annual letter to investors, Fink says that the oil and gas industry is essential in meeting global energy needs despite the increasing shift. [00:07:28][47.0]
Stuart Turley: [00:07:29] They lost, I believe, 1.7 to 1.8 trillion last year and I think this in my personal opinion, the ESG investing hypocrisy has now come. We now know the dollar point, and that is people are tired of losing money. [00:07:46][16.6]
Stuart Turley: [00:07:46] And the best way around this is to invest in low carbon or getting the least cost kilowatt per hour to everyone on the planet. And that includes nuclear natural gas it can include the solar can include the wind, but you and storage, but you got to do it in a plan. So anyway, I think that ESG and investing hypocrisy is now coming forward. [00:08:14][27.7]
Stuart Turley: [00:08:15] Next article How can we upgrade the grid to be more resilient against natural disasters? This article is phenomenal. And natural disasters leave crumbling grids susceptible to outages. Not only is it available for hackers to come in and cyber attack, but over even in this year, we’ve had people just really taking even physical harm to the grid. [00:08:43][27.9]
Stuart Turley: [00:08:43] And if we had an EMP bomb hit the United States, the supply chain for Transformers is so long that if we had one MP in the United States, it would take over two years just to bring the grid back to in that area affected because we can’t get the transformers. [00:09:02][19.0]
Stuart Turley: [00:09:03] So I want to give a shout out to Adriene Lotto she’s a senior vice president at Grid Security for the American Public Power Association. We will have her podcast and I interviewed her on note on this very topic that has to do with this article, this article on EnergyNewsBeat.com and we will keep you posted as this article comes out on the podcast with Adrina. [00:09:30][26.6]
Stuart Turley: [00:09:31] So the best way to come here and take care and get rid and ready for any storms or anything or anything that could happen. Be prepared to take care of your family yourself, have flashlights, be able to last for 48 hours on your own. [00:09:46][15.3]
Stuart Turley: [00:09:47] But we’re going to need to look at microgrids we’re going to need to look at better funding for the grid, the Inflation Reduction Act and the infrastructure bill. All of that is spending trillions and trillions of dollars and very little of it had anything to do with the actual grid. [00:10:06][18.8]
Stuart Turley: [00:10:07] The grids in trouble, guys and it’s it’s kind of like. Kiss. Keep it simple, stupid. Well, I think everybody’s forgotten about the grid. And you cannot put wind, you can’t put solar and you can’t put nuclear and you can’t put natural gas or oil or anything else and I have a grid and it’s not there. [00:10:27][19.9]
Stuart Turley: [00:10:27] I’m releasing another podcast probably tomorrow with Osama Rizvi he is from Pakistan. Neat, Neat, young man, he is very much an industry leader in Pakistan. They have a whole different thought process to the grid. You’re lucky if you get 8 hours in a day using electricity. That’s not what we’re used to in the United States. [00:10:52][25.2]
Stuart Turley: [00:10:53] So the next article coming around the corner. Nearly half of climate change companies in bank failed with SVB. It’s not that they’re solar or start ups. It’s the biotech startups. It is the ambitious climate companies and everything else. We need those companies and we need to invest in them. [00:11:17][24.2]
Stuart Turley: [00:11:18] So while this article is saying that nearly half of the climate change companies in US bank failed as we b actually failed because they were ESG. I disagree. I think that it failed because of the policies, not because of their clients. [00:11:36][18.0]
Stuart Turley: [00:11:37] So it doesn’t matter if you are a green energy company it doesn’t matter if you’re an oil and gas company if your bank has got failed policies, it’s going to fail. So in my personal opinion, I think that bankers need to keep their eye on the ball, make money, offer the best banking for fossils, for renewables and the reason is because we’re not going to get to carbon net zero without fossil fuels we’re not going to be able to have any of the solar panels made anyway. Well, thanks for letting me rant on that article, but that one is also very important as well too. [00:12:13][36.0]
Stuart Turley: [00:12:13] And everybody go out and as we talked about on the grid, hug a lineman, hug a person, anybody working in the electrical space or the power space or the energy space, go hug them. There is a worldwide labor problem going on right now and this last article is Global layoffs extend far beyond big tech. Amazon takes the top spot and energy loses only loses 3700 worldwide. In this article. [00:12:45][31.7]
Stuart Turley: [00:12:45] This article came from Bloomberg and almost 800 companies shed 473,000 jobs in total number of jobs in by October of last year. And you take a look at 43,000 were in communication, 26,000 were in health care, 3700 were in energy, 13,000 were in real estate, 49,000 were in financials, and consumer discretionary was 108,000. [00:13:18][32.3]
Stuart Turley: [00:13:20] But let’s come down to some of the companies. Amazon 27,000, and it was 1.8% better, 24% at 21,000. Philips 10,000 in the health care, IKEA 10,000 in consumer discretionary Salesforce technology 8829. Ericsson 8500. [00:13:44][23.8]
Stuart Turley: [00:13:46] So you sit back and take a look, hug a guy bringing power to you or a woman, pat them on the back and say, Great job, guys. It’s nice to be in the energy space with that let’s get back to work. Let’s see what the Fed is going to say today. [00:14:05][18.8]
Stuart Turley: [00:14:05] Everybody has an absolutely Vantastic day to day Call us Like us Send us a note. Let us know any way that we can help you get you the energy news that you need. Thanks and we’ll see you next time. Talk to you soon. [00:14:05][0.0]
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