Germany’s Wind Farm Scrapped

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

Stuart Turley: [00:00:10] Hello, everybody. Welcome to the Energy News Beat Daily Standup. My name’s Stu Turley, president and CEO of the Sandstone Group. Today is just an absolute great day out there. I want to give Mark Kay a shout out. He is at at Mark Kay Show. I bought his shirt Gulf of America for our podcast listeners on the road. I have my Gulf of America shirt on. This is exactly what I voted for, but let’s go with our stories for the day. After 15 years of Operation Germany’s first offshore wind farm being scrapped, there’s going to be a lot more of those. Closing argument set to begin in pipeline companies’ lawsuit against Greenpeace. We’re going to be following this because Greenpeace really did disrupt business and cause some serious problems. Anhoi Ocean Evergreen inks a $1.6 billion deal for six LNG powered container ships. This is huge and it is a trend that is going on around the world for LNG powered equipment. Wall Street braces for oil in 60s range on tariffs, OPEC plus risks. This is from a Bloomberg article. Trump says he’ll speak with Putin. The day I’m filming this is on Monday and he’s supposed to be talking to them on Tuesday. George McMillan and I, after we find out what he talks about, will be recording another podcast with solutions and hurdles, possibly covering some hurdles there. So with that,. [00:01:46][96.6]

Stuart Turley: [00:01:47] Let’s get to our first story here. After only 15 years of operation, Germany’s first offshore wind farm being scrapped. Germany’s Alpha Vatus offshore wind farm in operation for 15 years will be dismantled due to unprofitability after subsidies were expired. It has become too unprofitable to operate without massive subsidies. According to Blackout News, a decisive factor for dismantling the Pioneer project is expiration of generous subsidies made possible through Germany’s E. EG renewable energies feed in act. The subsidy meant that the Alpha Ventus wind farm got 15.4 cents per kilowatt hour after being put in operation. Now that the subsidy is run out, the wind farm operators received only basic tariff of 3.9 cents per kilowatt hour, making the farm unprofitable. Here’s the bottom line. This is going on around the world. And when you take the soft money or the maintenance dollars out of it, you’re talking some serious problems with quote unquote renewable and wind and solar. Here’s the big problem coming around the corner, and that is who’s going to do the land reclamation costs because it has been proven that they cannot be installed from day one with profit. And then if they had to tag on the land reclamation for each wind farm or each solar panel, they would not be doing it. So we’re about to have a welcome to Rutrow in the world of renewable, non-sustainable energy around the world. Who’s gonna pay for it? So buckle up, hang on. [00:03:47][119.8]

Stuart Turley: [00:03:47] Let’s go to this next story here. Closing arguments set to begin pipeline company’s lawsuit against Greenpeace. Closing arguments were on Monday against Greenpeace. And this is for the North Dakota district judge. James Guion told the jury last month when the trial began, you are the judges of all questions of fact in this case. Base your verdict on the evidence. The Dallas based energy transfer in its subsidiary, Dakota Access, alleged defamation, trespassing, nuisance, and other offenses by the Netherlands-based Greenpeace International. It’s American branch Greenpeace USA and funding arm Greenpeace Fund Inc. The pipeline company is seeking hundreds of millions of dollars in damages. The lawsuit stems from protest in 2016 and 17. This is exciting, lawfare and protests and things have gotten out of hand and repercussions, people need to understand their actions have repercussions. And so I’m excited to see how this thing goes through. And if we see that the jury finds them in, this could be an end to the Greenpeace. Now, this is not the same Greenpeace that was founded years ago. It was hijacked about 15 years into it. And Alan, the founder of Greenpeace, is an absolute wonderful man. He had actual good intentions out there. So, anyway,. [00:05:21][93.7]

Stuart Turley: [00:05:21] Let’s go to the next story here. Hanwha Ocean Evergreen, Inc. $1.6 billion deal for six LNG-powered container ships. This is a trend that I’m seeing throughout all of my news feeds. Hanwha Ocean will deliver the ships by March of 2028. Also, the vessels will feature LNG dual fuel engines along with eco-friendly technologies from the Hanwha Ocean, including the shaft generator motor systems and air lubrication systems. It’s the first time Hanwha Ocean has received an order from Evergreen. This is huge. The number of bunkering ships, the number of ports where you can deliver these things, And all of this is in a wonderful way to get rid of the horrific heavy sulfur diesel, marine diesel that is really needs to go away. So I think this is a trend of all of this wonderful change. It’s a short term. I would prefer if everything was nuclear, but that’s just me. [00:06:29][67.3]

Stuart Turley: [00:06:29] Let’s go over to Wall Street braces for oil in the $60 range from tariff and OPEC risks. We covered a lot of this in the Energy Realities podcast with David Blackman, Irina Slav and Tammy Nemeth today and had some great feedback on that. Goldman initially stuck with previous price projections of confirmed plans of increased oil production this month, but with US economic growth under mounting pressure, the bank lowered its outlook price in a note. Expected range for Brent was reduced from $65 to $80 from $70 to $85. That is a significant reduction in what they’re expecting. We expect Brent to stay above $70 in the coming months, but we are no longer seeing $70 as the price I’m a little bit more bullish on oil, and I really think that we are going to, and Tammy Nemeth brought up some great points, and that is I think that we are going to come around to a sanity-based world where we may actually see supply and demand actually fit into formulas again, rather than beliefs and manipulating the algorithms. [00:07:46][77.1]

Stuart Turley: [00:07:47] So I want to go ahead and take a moment and pay the bills. I’d like to say give our podcast sponsor a shout out Reiss Consulting and Reiss Training. They are a wonderful partner of the Energy Newsbeat Daily stand up and sponsor. They are absolutely what you need to have in your back door and your back pocket when you go out and try to say, do I want an LNG to power plant? Do I want to be shipping a Permian load of oil? Do I want a a natural gas power plant in anywhere in the United States? They’ve got projects all the way from the Permian to Germany. So it is absolutely wonderful. Thank you very much for being a sponsor of the show and reach out to Reese Energy Consulting. And you will not be sorry. [00:08:40][53.5]

Stuart Turley: [00:08:41] The last story here, Trump says he’ll speak with Putin on Tuesday on Ukraine peace push. I applaud President Trump for overcoming almost every obstacle, everything from being shot to now becoming president to now having all the information that was removed from all his team members. His team members are still kind of fighting this unarmed battle, going up there trying to have a peace talk, so to speak. A lot of land is a lot of land is lot different than it was before the war, you know, President Trump told reporters, we’ll be talking about land, we’ll be talking about power plants. And, you know, that’s a big question. That is the nuclear power plant built by Russia in Ukraine, and it is being controlled by Russia. And I’m sure it is going to be on the talking points because that is one of the key power sources for Ukraine. There is a lot, and it’s complicated process and so we hope it’s a great conversation and we’ll have more on that tomorrow but it should be very interesting. This was out of a Bloomberg story as well too. [00:09:52][70.9]

Stuart Turley: [00:09:53] So with that like, subscribe, share, read this to your pets, read this to your family and again thank you for all of the wonderful comments and we look forward to seeing you soon. Thanks, have a great day. [00:09:53][0.0][578.9]

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