Climate Reporting Fraud – The Energy Realities Podcast [[{“value”:”

Climate Reporting Fraud – The Energy Realities Podcast
You do not want to miss this edition of the Energy Realities Podcast, where the international podcast team covers the new reports on the climate crisis. It is shocking how the numbers are being portrayed. We are live from Bulgaria, the UK, and Texas, and we have a mostly balanced group of energy experts. Irina Slav, Tammy Nemeth, David Blackmon, and Stu Turley are ready to take your questions live and have some real fun talking about the energy crisis.

#brics #energynews

Highlights of the Podcast

00:10 – Introduction

02:54 – BRICS Update Introduction

03:51 – Turkey’s Role in BRICS

06:37 – BRICS Currency Introduction

10:11 – Economic Growth of BRICS

14:03 – Speculation on Ukraine War

18:11 – Inefficiency of BRICS

19:38 – Japan’s Energy Strategy

21:28 – New Reinsurance System

22:14 – Population Concerns

30:05 – Political Climate and Migration

34:48 – The Energy Transition Is Powered By- Wait for it – Coal

36:49 – The Climate Short: Hedge Funds Pile Up Huge Bets Against Green Future

41:42 – USGS scientists confirm Massive smackover Lithium resource

42:34 – Standard Chartered: Global oil demand hit an all-time high in August

43:45 – Suddenly Energy Realism is a winning political issue

45:20 – BRICS leaders tout grain exchange, joint finance at Russian Summit.

47:18 – Watchdog: Biden-Harris allegedly buried LNG Emissions Study, GOP wants answers

48:51 – Green blunder: UK’s net zero dreams have turned into an economic nightmare

49:45 – Biden’s EV Mandate Is Backfiring As Consumers Rebel Against Electric Cars

53:47 – The LNG emissions

Irina Slav

International Author writing about energy, mining, and geopolitical issues. Bulgaria

David Blackmon

Principal at DB Energy Advisors, energy author, and podcast host.Principal at DB Energy Advisors, energy author, and podcast host.

Tammy Nemeth

Energy Consulting Specialist

Stuart Turley

President, and CEO, Sandstone Group, Podcast Host

Climate Reporting Fraud – The Energy Realities Podcast

Stuart Turley [00:00:10] Hello, everybody. Welcome to the Energy Realities podcast. My name’s Stu Turley President of the Sandstone Group. We’ve got crime reporting fraud coming up next week. I believe we’ve got a little communication thing going on here and we’ve got a BRICS update, so we’re going to have a lot of fun today on the panel. We’ve got Irina Slav, one of my all time favorite people on the planet from Bulgaria. How are you today?

Irina Slav [00:00:39] Thanks, Stu. I’m great. We just held latest elections, the seventh vote for the past two years and a half or something. And the results are pretty much identical to the last few elections we had. So we’ll probably be voting again come spring. So, yes, it’s business as usual here.

Stuart Turley [00:01:01] You know, it’s great if you don’t get it right the first time. Just keep voting.

Irina Slav [00:01:06] They can form a government that can remain a government for more than a few months. Yeah.

David Blackmon [00:01:15] Goodness.

Irina Slav [00:01:17] Yeah, it’s fun.

Stuart Turley [00:01:19] Well, joining us today also is the David Blackmon. I mean, not just a day Blackmon. I mean the David Blackmon. So, David, you’re in Texas today. How are you?

David Blackmon [00:01:30] Yeah. Yes. I’m the only Dodger’s fan in Mansfield, Texas. I’m at home in hiding. So all the Rangers and Astros fans don’t come. Burn my house down.

Stuart Turley [00:01:45] Okay. So I’ll tell you, I really have to just give a shout out to all of the folks that showed up in New York City to see the Felon and the Hillbilly Wanda Show. That was at Madison Square Garden. I got to say, man, I was enthralled with this whole thing.

David Blackmon [00:02:11] It was pretty spectacular. So I, I tell you, I’m just flummoxed by the media comparing that to the 1939. Rally held at Madison Square Garden by the American Boomed, which was the Nazi support group in the United States leading up to World War Two. I think that we didn’t hear the media say that when previous presidents like Franklin Roosevelt, John Kennedy, Lyndon Johnson, Barack Obama and Bill Clinton all held similar rallies in Madison Square Garden. Somehow that wasn’t a recreation of the American bond rally. But we’re not here to talk about politics. I’m sorry.

Stuart Turley [00:02:54] I’m just giving a shout out because I thought Tucker Carlson was an absolute hoot. So let’s get rolling over here to the stage here. We’re going to be talking about a BRICS update. When we talk about BRICS. BRICS happened last week with President Putin, President Z, Indias. Everybody was all lined up. There’s a real orchestration going on of Turkey is now not only a potential gas natural gas hub, they potentially are coming in as a BRICS partner right now, not a full BRICS member. So BRICS plus, if you would. So if you have a NATO member and a BRICS member. Holy smokes, Batman, this has got some real potential stuff going on around here.

David Blackmon [00:03:51] Yes, it does. I mean, of course, Turkey’s admission is being opposed by. Around right around India. India is opposing it. One of the items, because Turkey has a very close relationship to Pakistan, their governments. And so India is opposed to admitting Turkey, even though that would be an incredibly important strategic geopolitical addition to the BRICS alliance. You know, the other big event that happened at that particular BRICS meeting last week was the introduction of a BRICS bill. They’re calling it the BRICS bill, a currency that many of the BRICS members want to use to replace the United States dollar as the. International exchange. Currency for for all foreign trading, which the dollar has been for a century now more than a century shortly after World War One. There was a meeting, I guess, at the League of Nations that agreed to that, to use the American dollar as the currency of mark for international trades. You know, that’s a pretty important development, I think, within the BRICS alliance when you consider the BRICS, the combined GDPs of the BRICS member countries now well exceeds the GDP of the G7 countries. And that the BRICS alliance with, of course, Saudi Arabia, UAE, Russia and Iran and all its members now controls and Brazil controls a higher percentage of global oil production, which is the most traded commodity on Earth than OPEC does. BRICS controls more than 40% of global oil production now, and OPEC is somewhere around 38%. So that introduction of that currency, if they continue to push it and do you know they do. These countries do band together to conduct all of their foreign trade using that new currency. Could have a major inflationary impact on the US economy. And yet we all know the consequences of major inflation in the United States, as we have experienced over the last four years. So it’s all very interesting. And and I fear that our media in the Western world, not just in the United States but across the Western world, do not pay enough attention to what’s going on in BRICS.

Irina Slav [00:06:37] And that’s intentional, isn’t it?

David Blackmon [00:06:41] Yeah. Yeah. Yeah, I think you know.

Stuart Turley [00:06:46] Yeah. So looks like Tammy.

David Blackmon [00:06:50] Tammy’s popping in here. There she is.

Tammy Nemeth [00:06:54] Hello.

Stuart Turley [00:06:56] Good morning, Tammy. And how are you today?

Tammy Nemeth [00:06:59] Good. I hate Microsoft and tried to do an update. Sorry, it’s locked in

Irina Slav [00:07:04] You’ll hate my

David Blackmon [00:07:06] Yeah.

Tammy Nemeth [00:07:07] It’s a conspiracy. Sorry.

Stuart Turley [00:07:11] No. You look fantastic. I tried to do my hair just like yours, so. But anyway, we’re. We’re. We’re chit chatting about BRICS. What are your thoughts on last week’s BRICS outfit?

Tammy Nemeth [00:07:27] You know, that’s such a great question. I mean, there there was quite a few interesting developments there. I think the the whole idea of a grain exchange is fascinating. I and if you look at, say, for example, the economics of the Bric countries versus the G7, for example, visual capitalist had a really great chart. I don’t know if you’ve seen it, but it shows the only thing that’s dragging down global GDP are the Western countries and all the growth in this department. You know, it’s showing India, China, even Russia, Ethiopia is massive. So all of these different countries that are part of of the BRICS plus because there’s the original five members and there’s five new members, you can see that that’s where economic growth is going to happen. And you could make an argument that maybe part of it is because they’re using reliable energy. And the Western countries are participating in this economic suicide of making energy incredibly hard to get incredibly expensive. And, you know, the BRICS are not. They’re doing something else. And you can see it from the economic data is there. And I think that’s part of the reason why Western countries want to change how we evaluate economic growth. They want to get beyond GDP, gross domestic product and have a well-being index. Well, how do you feel today? That’ll be the economic indicator rather than actual.

Stuart Turley [00:09:10] Well-being.

Irina Slav [00:09:12] Yeah, but you can’t feel you can’t feel very well if your living expenses are going through the roof. Right? Well, they’re they really want to not put two and two together, these people, can they?

Tammy Nemeth [00:09:27] I think that if they do any well-being surveys, it’ll happen at a nice time of the year when it’s not winter and they’re freezing, it’ll be like June. How do you feel about your. This is great. It’s so nice outside. And, you know, then they’ll get these, you know. And how are they going to determine this? By survey rather than having actual data. So I think that the BRICS plus as this sort of alternate economic. I wouldn’t call it economic group. It will be a real challenge to how the G7 is operating. G20, OECD, any of those kind of organizations.

Irina Slav [00:10:11] That’s not necessarily a bad thing. But I was thinking about energy and you said Russia. I think this is the worst old goal that the West could ever score because Russia is the most sanctioned country ever in history. But Russia is actually flourishing. It’s not because of the war. It’s because it could do business with other countries outside the West. Yeah. This is you know, this is evidence that, well, it could be done. You don’t exactly need Europe to do well. Well, you do, but not so vitally. Now about the Greeks currency that you mentioned, David? I don’t really think that’s a good idea, but I hope they’ll get there themselves because it’s enormous work to make this common currency work. Yes, the euro was quite a bit of a challenge until they made it work and it’s already failing because you get dependent on something centralized, which the BRICS countries should know is a really, really bad idea. The other thing that was interesting to me was that someone on X commented that for BRICS to work really work, they need a common ideology. Hell no. That’s the last thing they need. I mean, you have China and India in BRICS. They are regional rivals. They have border disputes, and yet they can somehow work together even if they don’t really like each other. We have the Saudi’s and the Iranians in. Briggs What is the Saudi’s yet to join, but it’s going to join. So this can happen. Maybe India will let Turkey join, but they do not need the common ideology. And I think the the architects of brick bricks are well aware of this at the. But the very idea is that you need a common ideology to be a successful geopolitical grouping. We have the evidence of why this is a bad idea in front of our very own eyes.

Tammy Nemeth [00:12:24] Yeah.

Stuart Turley [00:12:25] Yeah. The EU is not being very successful.

Irina Slav [00:12:29] Well, the EU, the US, Canada, the so-called the West, the collective West. Even if it includes Japan and Australia. Where did the common ideology get them?

Stuart Turley [00:12:44] Not sure who the LinkedIn user is. We want to give him a shout out though. BRICS care about the economy and business. Nothing in common. Irina is right. Irina, don’t fall out of your chair. You are normally right, and I know that you don’t.

Irina Slav [00:13:05] Like.

Tammy Nemeth [00:13:05] These chairs, right? I mean, if if it’s about economics and you want actual economic growth, why do you have to have this ideological commitment? And ideology might be something if you’re trying to create a nation, they don’t want an Asian example. They want to trade and they and they don’t want to be discriminated against through sanctions or whatever. Or be told, I’m sorry, you can’t buy something from this country because some other group doesn’t like them. And so if you have this alternate payment system, you don’t even necessarily need an alternate alternative currency, but you need an alternative in which to do those transactions. So, you know, maybe the first step is to have this alternative to swift payments that will allow the BRICS to engage in cross-border trade without the interference of of some other country or institution.

Stuart Turley [00:14:03] Yeah. And there is.

David Blackmon [00:14:05] Not some big overarching political ideology. They do have common goals across all of these countries. And those common goals are economic growth, food security and energy security. And they’re all intertwined with one another. And the United States, unfortunately, and probably Europe and Canada, too, have lost sight of the fact. That energy security is the equivalent to national security and food security and economic growth. And so that’s why this chart, this chart, you know, where we’re just lagging the rest of the world in economic growth and there’s no mystery why it’s as clear as day.

Tammy Nemeth [00:14:49] Yeah.

Stuart Turley [00:14:51] You know, there’s there is something that is that is the weaponization of the U.S. dollar by the current administration. The Biden-Harris administration is really accelerated this because BRICS has been going on for quite a while, but it did not take the accelerated path that it’s on now until the Harris Biden administration’s weaponization of the U.S. dollar. Here’s there are two things that I think are going to be coming along the corner. Trump and Putin have agreed. They have already said they want to end the war in Ukraine. President Zelensky is realizing his meal ticket is up. So what do we have coming up around BRICS in around December time period is the EU’s pass through through Ukraine of cheap Russian natural gas is ending in December. So I see and this is my fiction that we will see the end of the Ukraine war. The EU will start buying cheap Russian gas again because when you have green energy policies and you have self-inflicted stupidity on these energy policies, you have death to your fiscal responsibility. And I believe they’re going to have to start using cheap Russian natural gas. And with the end of the war coming up very quickly. President Xie at the BRICS meeting also said, by the way, time to end the Ukraine war. So when you have President Z actually making a statement like that, you have all of the other leaders. And President Zelensky is now moving into his home in Florida. I think you’re going to see a war to the end of the war.

Irina Slav [00:16:45] Yeah, well, that would be great if it becomes the end of loss of human life, but I’m not sure is going to happen.

Tammy Nemeth [00:16:53] Well, it was interesting that Antonio Guterres was there and he had a meeting with Putin. And you know that that was interesting. Not much reported. Didn’t really talk about what they talked about. Maybe it’s in alignment with what Stu is saying. And, you know, honestly, let’s say the EU does somehow decide to take Russian natural gas again. I think they’ll balance that with climate reparations against Russia. There was there was an article retweeted by the React or whatever by the Financial Times this morning where there were these groups calling for more open reporting because Russia hasn’t been forthcoming in describing the climate damage they’ve been doing against Ukraine.

David Blackmon [00:17:44] So it’s just it’s just mind boggling what the f t is.

Tammy Nemeth [00:17:49] I could totally see them saying, okay, we’ll take the Russian gas, but Russia, you’re going to pay climate reparations or something.

Irina Slav [00:17:57] And the Russians. going to say yes right away. Those billions.

David Blackmon [00:18:02] Yeah. You know.

Stuart Turley [00:18:03] The the numbers are there.

David Blackmon [00:18:06] There’s not a more European market any more, by the way. I’m sorry, Stu, go ahead.

Stuart Turley [00:18:11] No. We’ve got a couple comments here. Robert, is this brick seems to be another unnecessary, inefficient bureaucratic organization. Robert, I disagree with you. Thank you for your comments.

Stuart Turley [00:18:25] I believe it is.

David Blackmon [00:18:27] Inefficient and bureaucratic. Yeah, but anyway. Go ahead Stu. Right.

Stuart Turley [00:18:32] I think it is. Yeah, it may be, but I believe it is necessary only from the standpoint that it goes back to what Tammy has brought forward with the the financial things, the weaponization of the U.S. dollar is, is really brought on the necessity. Who would have ever thought that you would have had Swift BRICS and the US Fed all having meetings in the same days? What we’re going to see is Japan has already signed and there are new natural gas pipelines coming from South Korea to Russia. We have lost Japan as a significant ally because it’s either they can either go to cheap Russian natural gas or join in World War three. Let me think. If I’m a member of a Chinese excuse me, a Japanese geopolitical thing, I’m going to go I’ll set World War three out and buy cheap Russian natural gas.

David Blackmon [00:19:38] And I would add to that, too. This is why Russia does not need the European market for its natural gas.

Irina Slav [00:19:44] Exactly.

David Blackmon [00:19:45] Because of those pipeline expansions and because India and China are perfectly willing to buy their oil regardless of any other sanctions. And we’ve seen that throughout this Ukraine war. Russia has found workarounds around.

Stuart Turley [00:19:59] Exactly. And yes, guess who? Tammy. Here’s a here’s a question for you and here’s a drumroll. Okay. Who’s buying the LNG right now? What are they replacing? The Norway. So if we take a look at the gas that is being used by the EU, it is being supplied by the U.S. and Russia and Qatar. And so when you sit back and go, Russia is making a lot more money off of what they’re selling to the EU, they’re selling a lot of LNG. And so it’s really stupid who gets hurt. It’s the consumers,

Tammy Nemeth [00:20:41] of course. Yeah. Yeah. So unnecessarily high prices. Well, another interesting outcome of the of the of the BRICS meeting was a commitment to alter the reinsurance because one of the big things they’ve been going after the shipping and all this different kinds of stuff. Anybody who is dealing with Russia, they won’t get insurance and so on. But one of the key takeaways and this was identified by Reuters, interestingly, was that they want to set up other they’re going to do a feasibility study of creating a new reinsurance kind of system in order to bypass some of these insurance issues that they’ve been facing.

Irina Slav [00:21:28] That’s actually great. You know, new industries, new companies, new business coming into existence.

Tammy Nemeth [00:21:36] Economic growth.

Stuart Turley [00:21:36] We’ve got we’ve got to insure that dark fleet because, I mean, you get tetanus just by looking at some of their such a mess. I mean, sorry. Yes, they need to be insured because there’s a lot of leakage going on on some of those older tankers and even the LNG tankers that are now in the Dart fleet.

David Blackmon [00:21:57] Can we also address this this question? Why does the man Alessandro Machi. Why does the mainstream media report any population stabilization or population loss as something to be feared?

David Blackmon [00:22:14] I think this is a good question.

Irina Slav [00:22:15] It is because the social social Security system, I’m thinking Bulgaria right now, there are fewer people in active working age than there are retired people. And the pensions of these people who have retired come out of our Social Security fees or whatever you want to call them. So the fewer people that are working, the less money there is for them when they grow old. If even fewer people are being born. So basically fewer people are having to finance the old age of more people. And that’s not. But it’s not sustainable. So that’s that’s one reason to this.

David Blackmon [00:23:03] That is is for sure. And the other reason is they fear you won’t have enough workers to sustain the economy if you don’t keep importing people from other countries. Once your birth rate goes below for two kids per couple replacement rate. I think that’s archaic thinking. Frankly, that part of it is completely archaic with the advancement of technology. So many of these jobs are going to be subsumed by A.I. and other developing technologies that the jobs piece of it anyway is just archaic. You know, on the Social Security and and social safety net, we have this huge post-World War two baby boom generation me as an example, going into retirement. Now, it’s it’s it’s putting enormous stress on those the social welfare and retirement state. But once our generation passes, that pressure is going to be relieved. So that also is a short sighted justification for this. And but, you know, it’s the media. They there’s not a lot of deep thinkers in our media. So

Stuart Turley [00:24:14] I would like to ask. I’d like to ask Alan Alexandro. Margie, also why is it that the governments around the world, not only the U.S., but they’re also using Social Security of that state to pay for the illegal migration that is coming in? And that, to me is absolutely despicable that they’re using Social Security to pay for the illegals. I love legal migration into a company. Fill out your paperwork. We love it. Take a look at Melania Trump. That is a perfect example of a legal immigrant. Illegal immigrants I don’t like. I’m going to be honest.

Tammy Nemeth [00:25:06] I will. I’ll add to this little conversation bit. It’s not just about the Social Security and the potential for labor when in the Western countries, the economy seems to be built on real estate, housing prices. And if people start to retire and leave their homes or whatever, the value then drops. Which is great if you’re a young person trying to purchase a home. But when the economy is based on those home values and the value drops, then that affects the economy. And so by bringing in loads and loads of people, it keeps the inflated value of those homes inflated, it keeps it high. So I think there’s a number of different variables there that that are rationalizations for keeping, you know, immigration levels high. But it should be people you know, what happens to the people who are waiting in the queue who have done all the legal stuff, you know, filled out all the paperwork, got the green card, trying to get citizenship, doing all this stuff, and and then these other people just flood across the the borders and or, you know, take a take a boat or whatever and then say, well, I’m here now, pay me and stuff it. I don’t think that’s right.

Irina Slav [00:26:33] Yeah. And that’s another thing a lot of these I’d say most of these migrants that Europe for example. So again they’re not exactly all of them productive members of society. They’re liberals in social welfare. So how does this help the economy? It doesn’t really, because you’re taking people in to keep real estate prices values higher, but you have to pay these people to live in your country.

Tammy Nemeth [00:27:01] Yeah.

Irina Slav [00:27:02] That’s a lot of money. And looking at Germany, for example, and France. So it’s really again, it’s not that it’s not optimal.

David Blackmon [00:27:10] Yeah. And then you get into

Irina Slav [00:27:14] someone’s age. I mean, I’m just so I need to to turn 64 or probably more by the time it’s my time to retire. To qualify for a pension. Come on.

Stuart Turley [00:27:29] Robert. Robert, ask this. Ask another question. Raise the retirement age, eliminate waste and benefits for those who didn’t pay in, and the population fears will abate. I agree it is. But I also. You’ve got to be able to have like Nancy Pelosi raiding Social Security for the tune of a million couple million bucks to run a Trump impeachment from Social Security should be outlawed and she needs to be in jail. Thank you very much. Can I just say that? Okay.

David Blackmon [00:28:10] Well, we have strayed well off of the BRICS topic now. Yeah.

Irina Slav [00:28:14] It’s fun.

Stuart Turley [00:28:18] Okay.

Tammy Nemeth [00:28:18] Population data is between BRICS and.

Stuart Turley [00:28:23] And about 60% of the population in the world is in the BRICS.

David Blackmon [00:28:28] Or that talking about, though, I think she’s probably talking about growth, population growth data, right?

Tammy Nemeth [00:28:36] Yeah. Like so I actually statistic has something.

David Blackmon [00:28:43] No, no hands were below replacement rate. The United States.

Irina Slav [00:28:49] Populating.

Tammy Nemeth [00:28:50] And China is, you know, dropping. China is going up. But and if you know, there’s several African countries in who want to join BRICS and yeah, I think that that’s that would be an interesting thing. What’s the net migration into BRICS countries versus net migration of of the G-7 or even the G-20? The interesting.

Irina Slav [00:29:15] That’s a very. Interesting. Interesting question. Interesting topic. I think there will be changes soon with regard to the direction of migration. Yeah, I’ve been saying this fortwo years now.

Tammy Nemeth [00:29:31] You keep saying it. Yeah. Yeah.

Stuart Turley [00:29:34] Well, there are three, 2 or 3

Irina Slav [00:29:36] First.

Stuart Turley [00:29:38] There are 2 or 3 countries in the EU that have put up a white flag and said no more illegal migrants. And I think that that is a trend that is going to continue on. And if Trump is elected in eight days, I think that you will see a mass migration happening in the United States.

Tammy Nemeth [00:30:05] Yeah.

David Blackmon [00:30:06] A mess. Wait, What? Say that again.

Irina Slav [00:30:09] Mass outflow.

David Blackmon [00:30:10] Well, mass outflow. Migration, you mean? Yeah. Something selected? Yeah, that could happen. Now, all.

Irina Slav [00:30:17] Those celebrities have said yet again they’ll leave if Trump gets elected. Maybe this time they’ll do it.

David Blackmon [00:30:23] We can only hope that just makes you well.

Stuart Turley [00:30:27] Well, I’m also talking about his deportation of illegals. Even if he goes after the criminals, since we have so many hundreds of thousands of criminals that have come in, he goes after them. They’re going to see a big floodgate going the other way.

David Blackmon [00:30:47] But the reality about that, Stu, is if we just stop the benefits. Okay, just stop putting on all these benefit programs when they as soon as they walk across the border, stop giving them cell phones, stop giving them free transportation, and it’ll all stop anyway. That’s all you have to do. We are literally the Democratic Party is trying to build a new voter base. We all know that’s the truth. You all can scream about the great replacement theory and all that stuff. I don’t care. The truth is, this is happening because the Democrats want a new permanent voter base. That’s why it’s happened. And as soon as you stop all the benefits they get, most of them are just going to go home because there’s no advantage to living here. Over back in.

Stuart Turley [00:31:36] I agree I agree that they have created a gigantic problem in the EU, the UK and the USA. Yes, because we were getting $14,000 a month and then they get cut off. Most of their bills are being cut off on the 14th of January. If those bills are cut off, you’re going to have hundreds of thousands of unhappy people wandering around the blue sanctuary cities that are going to be looking for food and violently not happy.

David Blackmon [00:32:11] Yeah, absolutely.

Irina Slav [00:32:12] Not happy as well

Stuart Turley [00:32:15] It’s not going to be pretty.

David Blackmon [00:32:17] Yeah.

Tammy Nemeth [00:32:19] So. Well, yeah. So, I mean, that’ll be interesting. Like with the bricks with and you have the, the, the energy aspect of it where you have, Saudi Arabia is thinking about maybe joining, although I, I’ve read from different organizations they have accepted so I don’t know what the deal is with that but it makes sense that you have UAE, you’ve got some of the other Middle Eastern producers. You’ve got I think Iran is an observer or something like that. And there’s a but.

Irina Slav [00:32:47] Not so much what I just checked.

Tammy Nemeth [00:32:50] Okay. So you have the potential for all of this traditional energy production in a region that is growing economically. And so will people want to move there because their economies are booming versus trying to go to Western countries where economies are are dropping? I think that will be an interesting thing to watch out for.

Irina Slav [00:33:17] Yeah,.

Stuart Turley [00:33:18] I think it would be very interesting. Also, I would not want to move to Iran with Sharia law

Irina Slav [00:33:27] Dubai.

Stuart Turley [00:33:27] Do what.

Irina Slav [00:33:32] The Dubai. If you can stand the desert, it is interesting. Sure.

Stuart Turley [00:33:38] Of course. They are spending billions on climate change or cloud seeding.

David Blackmon [00:33:46] Yeah. Yeah. But most of the bricks companies have heavily restrictive immigration laws. You know, they don’t allow mass illegal immigration and they simply don’t allow it or legal immigration. And I mean, they allow some immigration in certain circumstances, but it’s highly selective and very restrictive. And it’s not the same as in the Western countries.

Tammy Nemeth [00:34:12] Yeah.

David Blackmon [00:34:15] So that’s

Stuart Turley [00:34:16] Let’s get rolling.

Irina Slav [00:34:19] headlines.

Stuart Turley [00:34:19] Speaking of headlines, we’ve got the Irina Slav.

David Blackmon [00:34:26] It’s beautiful.

Irina Slav [00:34:28] I had a really good catch last week. Yeah. First of all, the energy transition is powered by wait for it goal, and then hedge funds pile up huge bets against Green Future. There is no connection between these two developments at all. Of course.

David Blackmon [00:34:47] Of course.

Irina Slav [00:34:48] I especially like the going by having a blast because he says it like it is. Essentially, it all comes down to the energy transition driving higher coal demand, because the energy transition presupposes the electrification of everything and everything is being increasingly electrified. But wait. There’s not enough wind and solar to respond to that demand for electricity. So we need hydrocarbons to do it, notably coal. So coal is still king. And the IEA kind of like, you know, heads the warning about the revision of its goal demand outlook on page 101 of its world and then G outlook that last about it, and so did I. It’s really the executive summary. It’s, you know, propaganda as usual. Wind and solar ramping up very fast. We are adding a lot of gigawatts every year. We’ll be adding even more. So all hydro carbons will peak in terms of demand before 2030. Then 90 pages later, it says that coal demand is actually going to grow over the next decade, which means beyond 2030, Well, there. But then it will be declining by 2% annually until 2050. Starting when? It doesn’t say it’s really adorable. It wants to dig themselves and they keep contradicting themselves and probably hold that nobody will notice that. Revision of goal demand outlook on page 101. Absolutely. If you’ve read the executive summary because of course that’s the only thing we all read unless we have some spare time. So that’s bad goalies, really. It’s really fun. And then the climate short. Well, I’m very ingenious. So hedge funds. You wouldn’t believe this. Hedge funds no longer believe in the inflection point. Apparently a lot of hedge funds executives had been waiting for an inflection point in wind, solar, EVs and hydrogen and all of these things. Yes, the authors quote one such executive. We kept waiting for the inflection point for years and it never came. So now that turning against the transition, because the stocks of these companies are underperforming everyone else’s stocks and things are not happening according to plans and hopes and dreams and ambitions. Essentially, speculators are not making the money they expected to be making on the transition. And I’m sure you’re all shocked. Yes, we actually believe there will be making money, as promised by governments, by the IEA, by Carbon Tracker or whatever, and Amber and all of these guys. And it never happened. So now they’re shorting the whole thing. There.

David Blackmon [00:38:06] Yeah. And, you know, that’s probably going to only grow in in its magnitude over in the near term for sure and probably in the long term. I. Because they’re not meeting any of their goals. I clearly remember writing a piece ten years ago about these predictions at the time that coal demand was going to peak before 2020. Okay. And now we see where it’s evolved to. Right now, it’s not even going to peak by 2030, according to the most optimistic booster of the energy transition, the IEA. And income. You know, ten years from now, they’re going to be saying it’s not going to peak by 2050. That’s how all of this is evolving. That’s going to continue to evolve that way because demand is only going to continue accelerating in its growth for energy. And you can’t I mean, it’s just such a fool’s errand. We should have started focusing on a nuclear renaissance 20 years ago and we might be kind of keeping up with things by this fourth. And, you know, this this insanity over wind and solar has been exactly that insanity.

Stuart Turley [00:39:19] Well, you. know

Tammy Nemeth [00:39:20] I.

Stuart Turley [00:39:23] Go ahead, Tammy. Go ahead.

Tammy Nemeth [00:39:25] I would I would say that the inflection point will come once they get the sustainability standards across the globe, or at least in major economies. And the carbon border adjustment mechanism is is one part of that, right? So if companies have to pay all these extra taxes, the idea is that you will force them to change their practices in order to not pay whatever the tariff is, the tax with the carbon border adjustment mechanism. And the way I see this playing out is that countries around the world have passed these human slavery legislation. So companies now have to look through their supply chain to ensure that there’s no human slavery taking place or that human rights are being violated and so on. But how do you keep track of that? How do you expect a company that’s buying, I don’t know, bottle caps or something from some other country to to know and investigate whether or not there’s any kind of human slavery going on along the supply chain. So you get companies to get that data and then it doesn’t take much to say, well, you know what, we also need your emissions data since you’re already reporting on this other stuff. And we’ll also have these auditors who will come in and look at that and so on. And so I think that that inflection point, at least from Western countries, is going to come probably in 2 or 3 years. Like that’s that’s when that’ll happen. So I’m not surprised that they would be hedging against the short term because it’s not there yet. It takes, you know, a couple of years to put this framework in place. And as much as I don’t like it, it is coming. And it lasts.

David Blackmon [00:41:14] Without.

Tammy Nemeth [00:41:15] Changing course.

David Blackmon [00:41:16] Without without a political revolution. It’s coming. Yes, I agree with that. I just think we’re going to have a political revolution before because people are just not going to continue tolerating. Higher and higher energy costs while these central planners put all their evil schemes in place. I may be wrong if I’m right, though. So I guess this is me. USGS scientists confirm Massive smack over Lithium resource. I wrote this one because the New York Times reported this as if the government had discovered this massive lithium resource in smack over formation in southern Arkansas. The fact is, we’ve known for decades that that formation of water in that formation contained an enormous amount of lithium. And over a year ago, ExxonMobil announced it’s going to become the biggest producer of lithium in the United States by drilling wells into this makeover. So The New York Times wants to give credit to the government for first discovering this lithium when everyone’s known about it forever. Just insane and just horrible reporting by The New York Times, which I guess shouldn’t surprise me anymore. Standard Chartered global oil demand hits an all time high in August. This was at old price.com. Alex Cumani wrote this last week, and I just thought this was really interesting that here we are again in 2024, hitting yet another continuing to set all time record highs for oil demand globally. And we’re 25 years into this centrally planned energy transmission, still setting all time record highs. And we’re going to continue to set all time record highs for oil demand for many years to come. And there are. That despite what the IAEA says today. So I just. Those were the two I wanted to focus on. I just thought that was really interesting, that.

Stuart Turley [00:43:23] I agree.

Tammy Nemeth [00:43:28] Okay, Google, I have to give a shout out to Francis Menton and the Manhattan contrarian. His writing is so brilliant and follows things in such a great manner. And what I found so interesting was this post he made saying suddenly energy realism is a winning political issue because we’ve had Kamala Harris, the Democrat presidential candidate, you know, actually doing a bait and switch, kind of like the Beyoncé concert fiasco where she’s against fracking, but has been promoting it in certain circles and was fully for it not too long ago. Who says that she wouldn’t do anything different than what the Biden administration has done, which includes putting all these ridiculous pauses on LNG and doing all these other things. But to the voters, the voters want energy realism. So it’s like saying, but what? But they believe that the public wants to hear in order to get elected. And we saw that also in the European Union, where there were lots of noises made about improving things for the farmers and getting energy prices under control or whatever, because that kind of energy realism is a winning political issue. But what happens after they’re elected? Right. And what I find so interesting is that we know that if the Republicans are elected, they’ll follow through and it will be energy realism. But if the Democrats are elected, I don’t think you get that energy realism, even though it’s a winning political issue. So here’s his article. His blog is really good for outlining how that’s a political issue, and I highly recommend it. The other story is that there’s the BRICS leaders tout a grain exchange and joint finance at Russian Summit. The great exchange to me is really important because with the European Union’s carbon border adjustment mechanism right now, there’s six supposedly high emitting products that won’t be permitted into the EU unless they’re like they’d have to pay these extra taxes if they don’t have the same kind of environmental or emissions rules and regulations that the EU has. And they’re talking about extending this to agricultural products down the road. And right now it’s actually quite difficult to export different grains and so on into the EU because of various protectionist measures. And so having a separate green exchange wouldn’t permit countries like Russia that produce a lot of grain and other countries to find ways around the sort of tariff structure and regulatory structure that’s being encouraged by the European Union that actually reduces the amount of agricultural products produced. And one could argue that this this will be really bad down the road. So it’ll be interesting to see who will be allowed to participate in that grain exchange. Will it extend to countries like Canada that that are one of the largest grain producers in the world? Will Canada be able to participate in this, or is it meant purely for the sort of BRICS countries? So it’ll be I’m curious to see how how that will work out. But I think it’s an important development given how the European Union is really kind of been the ones in dictating these kinds of rules and regulations for for trade.

David Blackmon [00:47:06] Outstanding.

Stuart Turley [00:47:10] All right. I’ll tell you what, you can’t buy this kind of entertainment. I went ahead and had this Watchdog Harris-Biden allegedly buried LNG Emissions Study GOP warns. So it’s now come out that Kamala has buried the the whole report on it. So anyway you brought it up so I felt the need to show that one. One of the things that there’s a general theme going on. The more we go to renewable energy through fiscal irresponsibility, the more fossil fuels we will use. We call that Turley’s law, the more we go too far to renewable energy and I mean renewable. In quotation marks for our podcast listeners, we will use more fossil fuels.

Irina Slav [00:48:12] Just like coal and gas.

Stuart Turley [00:48:16] Exactly exactly. Irina. And I in fact, I’ve got a video of the energy transition and happening right now. This is so important. Yeah, let’s watch that again. That is the energy transition. Okay. I feel better about myself now after watching that. But when we take a look at the Green blunder, UK’s net zero dreams have turned into an economic nightmare. It’s okay, Tammy, for me to say this. They’re not going to come hunt me down for

Tammy Nemeth [00:49:04] I didn’t say it.

Stuart Turley [00:49:07] That’s what I mean.

David Blackmon [00:49:09] You guys said he was going to try to extradite you Stu.

Stuart Turley [00:49:13] I hope he does. I really need the entertainment. In fact, the first line out of this article is the UK went from an industrial powerhouse to an economic backwater, thanks to its shift to net zero. So I thought it was an outstanding article. Looking back over the past couple hundred years, it’s clear that growth has brought on most extraordinary change to people’s lives thanks to fossil fuels. Now go figure that out. So on the other one, now we’re seeing that the EV mandate is backfiring from the hairs. Biden is. Absolutely. The folks are just going, hey, wait a minute, I can’t afford this. There is a trend in all the lefties and the major financial houses are now saying that they are getting all of their returns from wait for it oil and gas. And there is a there is a huge change. People are tired of being lied to. They want economic security, as the David Blackmon said earlier in the podcast. Economic security comes through energy security. Yeah. Did I say that right, David? Yeah. Okay. And also. Who is going to be the husky in the room is what I want to ask. Who’s going to be the husky? We have a husky. I got this next video is going to take care and lead the charge in an argument between the different factions of the energy transition. So, Tammy, here we have cats versus dogs. Who’s going to win? Okay. So I love this dog. All right. Okay. My goodness. He’s like, no, not on my watch. My watch. Look at him in the a cool dog. Anyway.

Tammy Nemeth [00:51:21] I was waiting for the Siamese to jump on his back or something.

Stuart Turley [00:51:25] No. The Siamese, actually. You know these . I’ve got to get a cat now. I swear I’ll just play the cat. But they are troublemakers.

David Blackmon [00:51:39] Yeah. True story. I am $100 changing out every doorknob in our house because of our cat. Really learn how to open those levels?

Irina Slav [00:51:52] Yeah. Was it not as flat? And so yeah, because the cats there had learned to open them.

David Blackmon [00:52:00] figured out how to open a knob. Yeah. This guy’s going to get through it. More than one word.

Stuart Turley [00:52:07] Yes.

Tammy Nemeth [00:52:07] They’ll find a way they can squish.

Stuart Turley [00:52:09] Okay. Now, look at that pork fat cat. That’s me trying to work out. I guarantee you that is mean. Like that. Okay.

David Blackmon [00:52:17] Did try to do one pull up

Stuart Turley [00:52:23] Now watch this one. When you put that on it and that’s the same reason, is that assigning.

Irina Slav [00:52:32] Something similar but not the same.

Stuart Turley [00:52:34] Look at that.

Irina Slav [00:52:36] there will be a true line.

Tammy Nemeth [00:52:41] Okay. So I have to add this in. Now that you’ve brought cats into the conversation is that there was a recent study from the Environment Canada, which is led by Steven Guilbeault, the group, the former Greenpeace guy, who’s their minister, and they want to get cats under control because they’re harming biodiversity. I don’t know what that means, but. I. Just hope they don’t go visit Springfield, that’s all.

Stuart Turley [00:53:10] My goodness gracious. Are you saying they’re going to import Haitians to control the cat population in Canada?

Tammy Nemeth [00:53:17] I don’t know what their plan is. All I know is that the headline said that they need to get the cats under control, whatever that means. No. So Oakey caring for the environment, but yet they want to build windmills all over the place because apparently cats kill birds and. But windmills killing birds is completely okay.

Irina Slav [00:53:40] Yeah, it’s different. It’s okay. This is different. Hey, Stu.

Tammy Nemeth [00:53:45] Stu, can I comment on the. The LNG emissions? Because, you know, they keep talking about how LNG has all these emissions more than coal and all this kind of garbage. But you can see there’s a clear correlation. And I’m not saying correlation is causation, but there’s a clear correlation between the decline in coal power plants and in America, the increase of LNG power plants in America and the decline of greenhouse gas emissions in America. So if LNG is that much worse than coal, shouldn’t the emissions have gone up?

Stuart Turley [00:54:25] I would agree, except the the LNG straight LNG to power plants is not that big of a deal in the United States. It’s all natural gas pipelines. The Vietnam just put in their power plant, which is straight LNG to power, a power plant that is a more rare type of thing because LNG imports into LNG to the Boston area still come from either Russia, Qatar or other parts of the world. So they’re not coming from the United States export facilities out of the Gulf Coast. So it would be natural gas was the main reason for the reduction in the greenhouse gases. So natural gas is not as bad.

David Blackmon [00:55:18] Well. Most of the LNG

Tammy Nemeth [00:55:20] A lot of people conflate those two.

David Blackmon [00:55:23] Yeah. Yes. And most of LNG exports are being used by these other countries to displace coal. And that’s study by. Robert Holsworth from Cornell University. So none of that into account.

Tammy Nemeth [00:55:36] Yeah.

Stuart Turley [00:55:37] And so when you.

David Blackmon [00:55:40] Add in natural gas studies for 25 years and they’ve all been easily debunked. Yeah, sure, sure.

Stuart Turley [00:55:49] Tell us what you really feel, David.

David Blackmon [00:55:50] That’s what I think. And I’m pissed off about it, and I’m going to stop it

Stuart Turley [00:55:56] Why? You did great. And I think this was an outstanding conversation. I think this was absolutely wonderful. Next week, we’ll have something on on the falsification of reports, I think. Yeah, something like that. Right?

David Blackmon [00:56:13] Perish the thought.

Stuart Turley [00:56:15] All right. So with that, Tammy Nemeth, please reach out and follow Tammy Nemeth on her. The NemethReport.com. Follow Irina Slav on her substack IrinaSlav.substack.com. Follow David Blackmon on Blackmon.substack.com. And I’m on the energy news beat dot substack.com. With that with everybody thank you everybody and you’re going to have an absolutely van tastic week. I know it.

David Blackmon [00:56:48] It’s got to be a good.

Irina Slav [00:56:51] Bye bye.

Stuart Turley [00:56:51] See you guys.

Tammy Nemeth [00:56:52] Bye.

Stuart Turley [00:56:56] Bye Irina.