OPEC+ Makes Shock Million-Barrel Cut in New Inflation Risk
OPEC+ announced a surprise oil production cut of more than 1 million barrels a day, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy. It’s a significant reduction […]
Dennis Quaid documentary ‘Grid Down, Power Up’ explores dangers of sudden electric grid failure – Fox
Actor Dennis Quaid is known for his multi-faceted roles on the silver screen, but he recently released a documentary about the prospect of a power grid outage that would send the United States “back to the […]
California to phase out diesel truck use in bid for cleaner air
The administration of United States President Joe Biden has approved a plan for California to gradually phase out the use of carbon-emitting heavy trucks, as the state makes a push to cut emissions and improve […]
US Power Plant Firm Goes Bankrupt After Winter Storm Penalties
Lincoln Power LLC, the owner of two Illinois power plants, filed for bankruptcy after its financial strain was exacerbated by nearly $39 million in penalties levied by the biggest US electric-grid operator. The Chapter 11 […]
Popular Expectations About BRICS’ New Currency Project Should Be Tempered
There’s no doubt that BRICS’ planned creation of a new reserve currency will accelerate de-dollarization processes and advance financial multipolarity, but that’s very different from the dollar’s death that many folks prematurely predicted. Duma Deputy […]
The De-Dollarization Of Brazilian-Chinese Trade Sheds More Light On Lula’s Grand Strategy
ENB Pub Note: Andrew Korybko is a talented international author and geopolitical writer. He has a different view than the mainstream media in the United States, which in my opinion, is needed. He is kind […]
Highlights of the Podcast
00:00 – Intro02:24 – The De-Dollarization you heard me. Say that once the De-Dollarization from the petrodollar02:49 – OPEC makes shock, million barrel cut in new inflation risk.04:37 – Dennis Quaid documentary Grid Down Power Up explores dangers of a sudden electrical grid failure.06:00 – U.S. power plant firm goes bankrupt after Winter storm Penalties 07:26 – California to phase out diesel trucks use in bid for cleaner air.08:57 – Popular expectations about BRICS new currency project could be tempered 12:09 – 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, good morning, everybody. Today is a great day. Today is Monday, April 3rd and I mean, we’re going to have a wild and crazy week. We’ve got some headlines for you guys. My name’s Stuart Turley, President and CEO of the Sandstone Group and this is the Energy News Beat Daily Stand UP. [00:00:34][19.8]
Stuart Turley: [00:00:35] Hey, I got some stories here. OPEC + makes a shock million barrel cut in the new inflation risk this is pretty wild. We’ve got Dennis Quaid documentary Grid down power Up explores dangers of sudden grid failure. He was on Fox and actually, it was pretty good we’re going to tap on that. [00:00:58][23.6]
Stuart Turley: [00:00:59] U.S. power plant firm goes bankrupt after Winter storm Penalties. Oh, we got a pattern going on here with the grid coming around the corner to california, California to phase out diesel truck use and bid for cleaner air and interesting. We’ll have to see how that one turns out. [00:01:18][18.7]
Stuart Turley: [00:01:19] I’ve got two next stories. It’s kind of interesting from Andrew. Andrew, Gordon Bako and I hope. Andrew I hope I didn’t butcher that. Kurri. Kurri Kurri Mogo. Anyway, he sent these to me and he’s got these articles and he is a geopolitical person, but he is from Russia. [00:01:43][24.5]
Stuart Turley: [00:01:44] So it is an interesting take on some of his articles. I don’t agree with everything that he writes but it is important to understand the total geopolitical view of things it’s good at getting the information from both sides of the story. [00:02:00][16.3]
Stuart Turley: [00:02:01] This one is a popular expectations about BRICS. New currency projects should be tempered, and this one is the next one. Also that he had sent over for us is the. De-Dollarization of Brazilian Chinese trade sheds more light on Lula’s grand strategy. [00:02:19][18.1]
Stuart Turley: [00:02:20] Now, I’ll tell you what we are facing some serious problems. The De-Dollarization you heard me. Say that once The De-Dollarization from the petrodollar, it is going to devalue dramatically. Now, will it go away forever? No. [00:02:37][16.8]
Stuart Turley: [00:02:37] We still will have some play in the world. But who’s going to buy the debt that is out there from the u.S.? It’s going to be really tough. So let me start with the first story. OPEC makes shock, million barrel cut in new inflation risk. This article was fairly interesting. [00:02:58][20.3]
Stuart Turley: [00:02:59] Saudi Arabia led the charge by pledging 500,000 barrels a day supply reduction. Fellow members, including Kuwait, Unite, UAE and Algeria followed. While Russia said the production cut it was already implementing from March to June would continue to the end of 2023. This quote was really interesting. Opec+ clearly wants a higher price, said Gary Ross veteran oil consultant turned hedge fund manager at Black Gold Investors. [00:03:32][33.4]
Stuart Turley: [00:03:33] The group is following through on proactive and ahead of the curve and is trying to rip oil prices from the grip of macro sentiment. So when you sit back and take a look, the initial impact of the cuts starting next month will add up to 1.1 million barrels a day from july due to the extension of the Russia’s existing supply reduction. This will be a total of 1.6 million barrels a day less crude on the market than previously expected. [00:04:07][34.5]
Stuart Turley: [00:04:08] At the time of this filming. It is 551 on Sunday and oil is up right now $5.38 8105 nat gas is still hovering around the two $2.25 81 as well. On the way back up to that 90 that we were just talking about. [00:04:32][23.7]
Stuart Turley: [00:04:32] All right. Let’s come around the corner and I was talking to some folks about this article. Dennis Quaid documentary Grid Down Power Up explores dangers of a sudden electrical grid failure. It’s kind of funny. Jesse on Fox was saying he was the smart brother and Dennis Quaid my whole family thought this was Randy Quaid, and I was like, Randy can’t do a movie like this. So anyway. [00:04:58][25.4]
Stuart Turley: [00:04:59] This is very interesting he Dennis Quaid join the Jesse Waters Primetime and the video is just amazing. I cannot wait to see this, people you need to pay attention to the grid an EMP can take out the grid and we’ve seen it where just trees have taken out an entire area of the grid. [00:05:22][23.4]
Stuart Turley: [00:05:23] Be prepared. Prepare for 48 hours 72 hours and then even two weeks if you can do it gradually but we need to be able to depend on our own selves for the short run. You can’t just depend on the government or anyone else showing up if there’s no power for the gas stations there’s no power for food. Plan on water. We’ll go through that and we’ll have a bunch of stuff for that as well. Anyway, watch out for Dennis Quaid. I was very interested to see that interview. [00:05:57][33.7]
Stuart Turley: [00:05:58] Next story coming around the corner. We have a Power plant firm goes bankrupt after winter storm penalties. Lincoln Power Company, the owner of. Two Illinois Power Plants, filed for bankruptcy after its financial strain was exacerbated by 39 million and penalties levied by the biggest U.S.. Electric grid operator. This is huge. [00:06:22][23.6]
Stuart Turley: [00:06:22] PJM Interconnect, which runs the grid that stretches from washington to Sugar Chicago, find Lincoln after its plants in Elgin and East Dundee, Illinois, failed to generate enough power during a severe winter storm in December. [00:06:39][16.3]
Stuart Turley: [00:06:40] The grid operator in February demanded that those plants provide millions of dollars in collateral to prove Lincoln’s continued credit worthiness. Ensuring negotiations resulted in PJM holding a combined 350,000 from each week. That’s a lot of money. [00:07:01][20.9]
Stuart Turley: [00:07:01] So now that we’ve got those fines in there. Now you’ve got a Power company that’s going bankrupt. This is a story we’re going to be on and we’re going to keep having to watch what’s going on. You have the balancing authorities, you have the grid managers, and then you have the power plants. Power plants are it’s going to be interesting. I’ve got some more stories coming around on this. [00:07:25][24.0]
Stuart Turley: [00:07:26] California to phase out diesel trucks use in bid for cleaner air. We know that Newsom had Governor Newsom had signed this just a little while ago in order to get rid of trucks. The EPA announced Friday that it would clear the way for California to require nearly half of all heavy truck sales to be electric by 2035 phasing out large trucks that rely on diesel, quote unquote. We’re leading the charge to get dirty trucks and busses, the most polluting vehicles off our streets in other states and countries are lining up to follow our lead. [00:08:08][42.5]
Stuart Turley: [00:08:09] Quote Gavin Newsom, we’ve got a lie to going on here. I’ve got some executives from California I’m lining up to visit with and I think this is a mistake from the standpoint that the EVs. I love the idea, but it’s not ready for prime time yet. [00:08:29][20.1]
Stuart Turley: [00:08:30] The trucks, as soon we just talked about this last week on a Ford F-150, you put up any kind of tow, you put a trailer on it and the battery mileage goes down to zero. We cut it in half. Excuse me. So we need new battery technology and we’re not there yet. So can they make this? I don’t think so. So hang on. We’ll keep an eye on this. [00:08:56][26.4]
Stuart Turley: [00:08:57] Popular expectations about BRICS new currency project could be tempered if anybody doesn’t know what. BRICS they’ve heard the show BRICS Is. Brazil, Russia. India, China and one other one. [00:09:13][16.1]
Stuart Turley: [00:09:13] And so but these are countries that are starting up a new financial arrangement and it’s going to be around the world’s swift financial institution. So BRICS is arranging for oil changing hands, all natural gas changing hands the first China to Brazil, LNG just recently happened. [00:09:42][28.8]
Stuart Turley: [00:09:43] So this is moving. Away from the petrodollar and it is very, very important that we pay attention to this. All of this could have been avoided. So while after all this is out of the article from Andrew, after all, it’s unrealistic to imagine China and the Global South fully decoupling from the West. Hence why predictions about the dollar’s death in light of the latest update about. BRICS. As new currency is premature and most likely won’t ever come to fruition in. Any case. [00:10:19][36.1]
Stuart Turley: [00:10:19] At most. As was explained, the dollar’s influence outside the golden billion will recede relatively to the present but it won’t stop circulating across the world. Since all BRICS states apart from Russia will use it in their trade with. The U.S. That is critical. [00:10:38][18.6]
Stuart Turley: [00:10:39] To think about. Russia has insulated itself away from U.S. sanctions. U.S. sanctions have then caused the demise of the dollar. China, Iraq, Iran, Saudi Arabia. India, all of those countries are really lining up right now to try to get into BRICS. [00:11:01][21.5]
Stuart Turley: [00:11:02] It is just amazing to see how many people are trying to get energy away from the U.S. dollar. If that is holy smokes, could. Be a rough one. So all of these stories are on EnergyNewsBeat.com. Please check them out. Listen to this podcast on any of the main podcast channels like Subscribe. Also, if you are an industry expert, please reach. Out on EnergyNewsBeat.com and fill out a form. If you would like to be on an A interviewed by me on a podcast. [00:11:38][36.3]
Stuart Turley: [00:11:39] I really want to talk to anybody that is in the energy space that has discussion points that would be important to our energy listeners. So thank you all very much and we are absolutely going to have a wonderful week. Buckle up. If it’s starting already on Sunday night. I’ll tell you what, It’s going to be fun. Thanks. We’ll see you guys soon. [00:11:39][0.0]
Energy News Beat