17 Burst results for "Daniel Jurgen"
"daniel jurgen" Discussed on Monocle 24: The Globalist
"And valeri Perez for the Republicans at 4.8%. 6 or 7 years ago, these were just big political beasts, the absolute establishment on the French political spectrum, and they have just been absolutely destroyed, haven't they? Yes, it's funny. I haven't seen that much reflection of Macron's success, I suppose, in creating his own movement. I think there's a worry that it is him and his people around him that he hasn't really built it up. But yes, it is really interesting as to what has happened to the big parties of the center left and the center right. And I'm sure there will be a lot of soul searching in the weeks to come and particularly because there's legislative elections coming up as well in a few months where the picture is probably going to be different and they've still got the organization there. But I wouldn't be surprised if behind the scenes. A lot of people were really worrying as to what happened. What happened to the center that isn't the Macron center, if you like. Finally, let's touch on a bit of the British domestic politics. There's been revelations over the last few days about the tax status of the wife of the British Chancellor Rishi sunak. The his wife has now said that she will pay tax on her overseas earnings, which amounts to several tens of millions of pounds. But instead of taking this on the chin and accepting that this is a reputational damage exercise, Rishi sunak has decided to launch an investigation into who leaked the story to the independent. I mean, what does that say about his I don't know Dara said his ability to read the room? Well, yeah, I think he's sort of launched two separate investigations now. So looking at The Guardian this morning, he had already asked for a leak inquiry, which is if you like a classic Whitehall way of trying to shunt responsibility on something else saying it's not about the substance, it's about who told this to some journalists. He's now also asked the prime minister for a separate investigation into his own tax affairs. So he has written to Boris Johnson asking him to ask us in the prime minister to ask the independent adviser on ministerial interests for a review of everything that he's done since he became a minister in 2018. And again, this is another, it keeps the story going and well, it stops so the Labor Party we're asking for all sorts of investigations into this. But it is often one of the ways to say, look, well, I can't really talk about that now because there's obviously I've referred myself to the independent adviser and there's an investigation going on. So can we not talk about this now for a little while? But I think this is a story that's certainly not going away. There have been questions over whether she seen act was right to keep hold of his U.S. green card, even up to the point while he was a senior minister. And so I think all of these are attempted deflections, but I'm not sure that they're entirely going to work. Thank you so much for joining us on the line from the book clues in France. Listening to the globalist. Now amid mounting pressure to cut ties with Russian energy providers, many European governments are scrambling to find alternatives, but how quickly can this be done? Well, that's the focus of this week's edition of the foreign desk, in which Andrew Muller takes a closer look at Europe's long-standing dependence on Russian fossil fuels. Andrew heard from the Pulitzer Prize winning energy expert Daniel Jurgen and Bloomberg's energy and commodities columnist Javier blass, Andrew began by asking Javier to explain what would happen if Europe announced it was ending all Russian energy imports immediately. Wow, the consequences of something as radical as that will be quite catastrophic for Europe. We will see within days, probably shortages of gasoline and diesel. So we will have to rise on how much fuels we can take on our cars and our trucks, some countries, particularly Germany, will struggle to keep the lies on because they rely so much on coal and gas from Russia for electricity production. And also, and crucially, a lot of the heavy and energy intensive industry in Europe will have certainly to shut down on reduced activities. We will go to something that only people that went through the crisis in the 70s remember that these are a three day week that will be the only way to cope if we were to do it juice all in one go and overnight. So just to follow that up, you don't think it's quite as simple as has been suggested in a few quarters as turning down our thermostats a few degrees to save Ukrainian lives. Andrew, let me jump in there. It's absolutely not simple to do it. It would be a vast disruption it would be a bigger disruption than the 1970s. You would have to deep drop in GDP if you did it like that. And you would have protests on the streets by truckers and motorists and other people. It would be destabilizing for the politics of Europe. That comparison that Javier raised there and I'll put this to you Dan with the big oil shocks of the early 1970s. Do you think we are potentially on the verge of something that serious? I think that you have to think about it as what the risk is and is there a potential, not going to say that it will happen, but I think that the possibility is really there as this war goes on. And, you know, it's always whether you live through it or not, the iconic comparison is the 1970s. This potentially and I only emphasize potentially could be worse because this involves not only oil, but it involves natural gas, it involves coal, and it involves two countries that are the nuclear superpowers. You didn't have all of that going on in the 1970s. So you have to be very mindful of the risk and that Putin is not only launched a war, but he's created a vast and uncertain disruption in global energy markets. Javier, if we think then about not doing this tomorrow, but trying to do this more gradually, how quickly could Europe get itself to a point where it wasn't reliant on Russian energy. How quickly, for example, could Germany replace its supplies of Russian gas with perhaps liquid natural gas from the United States. Well, the first thing that Germany will need to do is to get a rig association unit to be able to import the LNG, which at the moment they don't have any, they may get a floating one, which is basically a vessel attached to a pore that does the job, but it's a small one as a temporal measure. They will need to import B other countries, France, Spain, the Netherlands, but then you get into pipeline problems to transfer the gas from those countries into Germany. This is going to take time and the Germans have said that they can perhaps do it in two years, oil and coal can be done quicker, but all of that will be still disruptive. It will be significantly expensive and is harder to do that it seems. But certainly we can send the signal and say we are going to do this amount less of gas or oil or coal every month to reduce the flows from Russia and therefore to heart the Kremlin financially, which at the moment Europe has not done. Dan, what do you think? Does the speed with which the United States, for example, has become a major LNG produced to teach us anything about how quickly a major economy can reorient itself if it's really determined to do that. I think it is quite remarkable and it's one of the things that I wrote about in the new map, which is amazing. The U.S. only sent its first cargo of LNG in 2016 and in 2022, the U.S. is going to be the largest exporter of LNG in the world. And that's where I really got the idea of the title of the book, the new map because who thought about the U.S. shipping energy to Europe without U.S. LNG right now, it would be a much tougher situation for Europe about half of the LNG that Europe is now receiving comes from the United States. And Andrew, in the first half of January, there was a time when actually the U.S. LNG to Europe was greater than the volumes of gas coming from pipelines from Russia. So it is a big deal, and it shows it can be done, but a point obvious that these things don't happen overnight because you're talking about a lot of engineering and a lot of scale. And the G experts Daniel Jurgen and Javier blas there. You can listen to the full conversation by tuning into this week's edition of the foreign desk. It's 8 53 in Madrid, which is where we head for today's final item, such as the abundance of flowers and plants in Jan brueghel the elders and Peter Paul Rubens painting, the sense of smell that it was once claimed you could inhale the scent of spring itself simply by looking at it..
"daniel jurgen" Discussed on Bloomberg Radio New York
"And I'm dedic Pellegrini and we've been hearing from different parts of the country about inflationary pressures including rising demand for restaurants and other fun things Plus labor is shortages and rising fuel prices Yeah Denise and Bloomberg's David Weston had a chance to hear from one of the most well-known voices on energy about what's happening in those markets And yeah you're talking about Daniel Jurgen oil historian and vice chairman at IHS market And he says crude oil really could go up a lot from here Well I think it's certainly could go to $90 What's happened is that in addition to everything else that's happening people around the world particularly in Europe and in China are switching from some natural gas to switching to oil and so suddenly you've had this upward pressure on oil demand that wasn't in the forecast a month ago because you know people didn't see this energy crisis coming a month ago How hard it is with a power plant to convert from natural gas to oil Most of them can not do that but dual fired capacity is something that's built into some plants that have been there you know usually there for years And I don't think anybody particularly expected that they would be switching back to oil but the price of natural gas if it's landing in Europe today is LNG's equivalent of $200 a barrel So oil is by comparison is certainly cheaper On the crude front alone we've seen the Biden station sometimes react Once encouraging OPEC plus to increase production And now there's talk at least about the petroleum reserve national petroleum reserve although as I understand it they suggested and walked it back Are there things that the bottom administration could do to take some of the sting out of the crude prices I think what they'll do is what they did in August they'll go back to OPEC plus and OPEC countries and say can you put some more oil into the market Because obviously anybody who's been around Washington for as long as Joe Biden knows that high gasoline prices are not good for incumbents And so I think we're going to be hearing more from the administration They don't have a lot of tools because this is unlike other crises in this is not starting with oil This is starting with natural gas LNG supplies being very tight coal being incredibly tight and the wind not flowing in the North Sea which is of produces a central part of Northern Europe's electricity And then of course you have China that I mean in a sense it's really started when China went into over drive is the workshop of the world during COVID and its demand really went up and it ran into its coal ceiling and it's pulled up natural gas prices And that's what's radiated out to the entire world and China is now rationing electricity effectively So Dan you point out a lot of the starts with natural gas So let's go to natural gas Could we have the kind of price spike in the United States that they're seeing over in Europe I don't think so I mean natural gas prices.
"daniel jurgen" Discussed on Bloomberg Radio New York
"Have to bring Morgan energy more leadership to you know just to have just to execute type of thing you know you know we always put that person on as a front to go out there and just leave The Giants are one in four College football northwestern beat Rutgers 21 7 UConn won their first 21 15 over Yale with a Bloomberg sports update on Frank aerodyn Broadcasting live from the Bloomberg interactive brokers studio in New York Bloomberg 11 To Washington D.C. Bloomberg 99 one To Boston Bloomberg one O 6 one This entrances go Bloomberg 9 60 to the country Syria's XM channel one 19 and around the globe the Bloomberg business act and Bloomberg radio dot com This is Bloomberg best I'm at Baxter And I'm Denise Pellegrini and we've been hearing from different parts of the country about inflationary pressures including rising demand for restaurants and other fun things Plus labor is shortages and rising fuel prices Yeah Denise and Bloomberg's David Weston had a chance to hear from one of the most well-known voices on energy about what's happening in those markets And yeah you're talking about Daniel Jurgen oil historian and vice chairman at IHS market And he says crude oil really could go up a lot from here Well I think it's certainly could go to $90 It's what's happened is that in addition to everything else that's happening people around the world particularly in Europe and in China are switching from some natural gas to switching to oil and so suddenly you've had this upward pressure on oil demand that wasn't in the forecast a month ago because you know people didn't see this energy crisis coming a month ago How hard it is with a power plant to convert from natural gas to oil Most of them can not do that but dual fire capacity is something that's built into some plants that have been there usually there for years And I don't think anybody particularly expected that they would be switching back to oil but the price of natural gas if it's landing in Europe today is LNG's equivalent of $200 a barrel So oil is by comparison is certainly cheaper On the crude front alone we've seen that vitamin C and sometimes react once encouraging OPEC plus to increase production And now there's talk at least about the petroleum reserve national petroleum reserve although as I understand it they suggested and walked it back Are there things that the bottom administration could do to take some of the sting out of the crude prices I think what they'll do is what they did in August they'll go back to OPEC plus and OPEC countries and say can you put some more oil into the market because obviously anybody who's been around Washington for as long as Joe Biden knows that high gasoline prices are not good for incumbents And so I think we're going to be hearing more from the administration They don't have a lot of tools because this is unlike other crises in this is not starting with oil This is starting with natural gas LNG supplies being very tight coal being incredibly tight and the wind not flowing in the North Sea which is of produces a special part of Northern Europe's electricity And then of course you have China that I mean in a sense it's really started when China went into over drive is the workshop of the world during COVID and its demand really went up And it ran into its coal ceiling and it's pulled up natural gas prices And that's what's radiated out to the entire world And China is now rationing electricity effectively So Dan you point out a lot of the starts with natural gas So let's go to natural gas Could we have the kind of price spike in the United States that they're seeing over in Europe I don't think so I mean natural gas prices have about doubled They're doubled for two reasons here One is inventories are low and people are looking to the winter And two because coal supplies are so tight actually you have fuel switching from coal to people using natural gas to generate electricity So that's what's really caused the doubling And we have a lot of gas in this country but we don't have quite enough pipelines to move it around Is that something that the volume of social media to take a look at There's some irony that's right because the Biden system wants to cut back on fossil fuels And right now we need more of them for the time being Well I think there's going to be a big rethink and certainly rethinking Europe about the timing I looked at natural gas production domestically in Europe It's down 20% So there's going to be a question of timing in terms of cutting back on conventional supplies when you don't really have the capacity there to replace it And by the way with electricity you need reliable supplies and when your wind can go wind electricity can drop by 50 or 60% you need an alternative which is natural gas So it will be striking or at least interesting to see the degree to which the administration looks again at the domestic energy supply situation And realizing that what's happened with the U.S. means self sufficient in oil self sufficient natural gas gives us a lot of flexibility that other countries don't have And Dan one of the things we've seen over the last couple of weeks is some talking in Europe of the need to perhaps ration We might actually have some curtailing of some of the power for heating over the winter Is there a danger of that happening in the United States No I don't think in the United States but I don't think that's the case Unless we have a bad really bad winter then this shortage of coal and then the gas but I don't think so And the whole question now is it all comes down to whether or if we have the markets are anticipating cold winter was called last year That's one reason inventories are down If it's cold we're going to have more problems And we'll see it more in prices If we don't have a code winter then this will ease up But the speeds into inflation And along with this supply chain disruptions affects the kind of reconstruct economic recovery we've seen Expect China to slow down We've just lowered our forecast for U.S. growth this year from 5.7 to 5.4% And I suspect it will go lower as these problems persist Daniel you're getting the oil historian and vice chair at IHS market with Bloomberg's David Weston.
"daniel jurgen" Discussed on Bloomberg Radio New York
"Vice chairman and we're thrilled we could get an oil update from Dr Jurgen right now on the triumph. Really wonderful, Wonderful book to read on oil and the new map of our geopolitics. Dr. Jurgen. Thank you So much for joining you Talk late in your book about the disrupted future. It's $70 a barrel up from $45 a barrel when your book is released. What does the disrupted future of oil look like? Thank you, Tom. And glad to be with you. And I have to say thank you for making the new map of the surveillance Bloomberg surveillance Book of the year and it did. The book does talk about disruption of what we're seeing. Now. I think we're moving. We're in the post pandemic economy right now. And, uh, after all, the obituaries and everything were written for commodities for oil. You've seen a rebound and it's telling you that we're in a very in a strong world economy would probably our number is gonna be looking at 6%. What will economic growth this year that will bleed into demand? How do you frame the price of oil up? Are we here or you go to $80 a barrel as we've heard from technicians Arkan, Daniel Jurgen speak of $100 a barrel. I think $100 a barrel would have to be some really big disruption. I think we've been thinking that we're in a 60 to $75 range. It could touch 80. But we're still using around 70 is the price for the year, which is where we happen to be right now. And it's a zoo economies open up around the world. Motorists on the road, referring to drive and places and the OPEC countries and the OPEC plus countries putting oil back in the market and even the prospect of Iran coming back into the market fairly soon. If there is finally a new nuclear agreement still hasn't riled the market. Well, there's this idea of discipline. That a lot of the oil producers have a regained discipline and are not going to overproduce for fear of cannibalizing from their future profits. At what point does the shell complex come back on See higher prices is something they just can't miss and and perhaps enhance their production. That's a question obvious now, if Michelle producers, but that little pack plus are looking at pretty carefully, we're going to see at this point. The shale producers are returning capital to investors. That's what their focus is on right now. And the increase in recount that we see is among private operators, not the major companies. So I think we will see. Obviously, this second half of the year will see US oil production starting to go up again, but I think it a modest rate and I think There is a new social contract between the shale producers and their investors. And that does mean that maintaining a certain discipline and not going for growth at any cost. All those I can You elaborate what the social contract is. Does that have to do it? Climate change, Or does it have to do with the idea that they're dead? That their equity has been whipsawed by the different price action in oil, and that Investors don't want to see that again. Is your second option. It's about money and that many shale producers were spending beyond their cash flow. Now they've turned around. Some have dividends or sort of variable dividends. They're paying down debt. That's been their focus that they have to show to investors that they will be prudent managers and that comes with consolidation. We used to follow a test market 60 shell companies as consolidation proceeds at some companies disappeared. I'm really getting closer to 20. That it would be rude if we did not ask and let us go back from mobile Exxon toe s O U And I remember Esso and the roll ups. They're of different hydrocarbon Goessling companies across this nation. Esso and climate change. What does it mean that the climate change activists have assaulted the board of directors of Exxon? What does it symbolize? Well, I think I think if you read the documents, it was not only climate change is an argument about how Company's been spending money about investment, and I think that's been kind of lost time to some degree in the focus about climate. I think all cos they're getting on board about Kind of net zero Carbon by 2050, which has become almost the rule book, and that's what U. S and other countries are going to seek to put into place in a much stronger way when they have their next you and meeting Glascow in November, But I think that what we've seen about the board of directors at Exxon Mobil is also it's a question about strategy. About where you invest on. Obviously, climate change has been part of it, but that's not the only thing. Daniel Wonder we get peak oil. Sometimes I think will someday we'll have peaked conversation about peak oil. I think in the new map, you know, I take the view that it's probably around 2030. We're going to see strong demand. Right now. That's what we're seeing demand increasing seven million barrels a day from the first quarter to the third quarter. So I think, and I spent a lot of time thinking about this in terms of the new map, But I think around 2030 is when demand Really starts to peak. I mean, this year we're selling about 3% of new cars in the U. S or electric cars. Fuel efficiency has a big impact but recovering the world. If we have a strong recovery that's going to propel demand. So I was still used around 2030 as the Expectation getaway. Thank you, sir. Always appreciate your perspective. Chest market Vice Chairman Gotta turn to the FX market quickly as well been looking at Dollar Lira through this morning after the Turkish President Erdogan. Said earlier to state TV. I spoke with our central bank governor today. It's an imperative that we lower interest rates. The move was to a 80 then better 8 60. We've just got some headlines from the Turkish Central bank releasing A presentation to investors from the governor, the central bank chief who pledges to keep the policy right above the expected inflation, saying that a significant drop in CPR is expected from the third quarter. Now before you jump to conclusions and talk about tension between the central bank governor The president looked at the language. We pledged to keep policy and the policy right above the expected inflation rate policy over in Turkey right now has a policy rate of about 19% Tom and inflation is running at about 17 18% points. Of your forecasting lower inflation from here into three Q four. Q. It gives you a little bit of space to cut interest rates so I wouldn't jump to conclusions about it being tension this morning between the Central Bank and the president on I imagine that's why we're not seeing a major correction off the back of these comments from the Central bank Shoot absolutely means coming a little bit. It is a stronger Lear over the last number of minutes. College 8 62 days 59. It's interesting. Jonah dovetail that into Daniel Jurgens Classic. Commanding heights, where the focus cm was Brazil and Fraga and that you wonder what the deck of cards is. Mr Erdogan has you wonder what his commanding heights are? Is? He moves forward politically and economically for the nation, and the conversation continues on playback surveillance. Live on TV and radio 8 30, Eastern Laura Rain off F S Investments futures on the S.
"daniel jurgen" Discussed on Bloomberg Radio New York
"His balance of power with David Western on Bloomberg Radio. Still to come this hour antitrust enforcement under the Trump administration gets a new regime. I talkto outgoing antitrust chief Macon del Rey him about what he accomplished and what lies ahead. But first president Biden headed straight to the Oval Office after his inauguration to sign a batch of executive orders several affecting U. S energy policy, including rejoining the Paris climate accord, stopping the Keystone XL pipeline and directing a review of fuel efficiency and Emission standards for his take on the executive orders. I talked to Daniel Jurgen, a leading expert on U. S energy policy. Jurgen is vice chairman of I E. H s market and author of the book, the new map, energy climate and the Clash of Nations. What it tells us is that the fight administration is gonna do what they said they're going to do, he said. Climate is one of his four priorities. They're going to step on the gas on that. And it is the range of government. I think ever Cabinet secretary will now have a Cabinet a climate agenda. So this Keystone XL pipelines been around for quite a while. But up and down and all around how much real effect is that have on US energy well, Canada's a major source of US energy imports. Our two countries are very integrated overall candidates by far the largest market for U. S exports, So this is an important element. I think what it really was striking was really AH kick against Justin Trudeau, who President Biden to pause and look at how this pipeline had changed. Andre. He's expressed his disappointment that this was the first step in was supposed to be improved relationship between United States and Canada. Is there some hope for President Biden saying, Look sorry I hurt you in the pipeline. But you and I are both really committed to climate. And this is gonna help climate. Is there some eyes? They're a dual purpose here. I mean, in terms of actual climate, it's not going to have much effect. Canadian oil production is slated to increase for the next few years and one way or the other, the oil will make its way to market If it didn't come from Canada all come from maybe Venice will elevate lifts, Sanctions or the Middle East So, but I think it's it is become such a lightning rod in such a Emotional symbol, and I think that's what Biden was responding to. So talk more generally about where you expect this possible. It's clear that as you say a president Biden means what he said. And he's going to fall through to the best visibility is their firm out that he and the executive branch can do without Congress. There is, obviously we've seen executive orders. The other thing is, Of course, the regulatory agencies will be a different chairman of the Securities Exchange Commission. They'll be a different chairman at the federal Energy Regulatory Tory commission. So those regulatory agencies will be very well be one of the main instruments. And I think, but on the other hand, as you say, this is a very divided nation divided Congress. And so he's appealed for unity, so he has to also can't just looked to his left. On just to the environmental movement. He also has to look across the country as well. And I think you know that's what he's balancing in his mind. It has to balance his policies. How much power does even the federal government not just the president, but the federal government overall really have to change the course of future energy. How much of this is gonna be dictated? Bye bye technology by the markets. David. That's a very important point, because if you were pro wind and solar, and we want to push in 10 years ago, they weren't competitive. Now they're very competitive in the utility industry is responding to the fact that their cost competitive A lot has to do with technology and actually continuing to spend money on research and development is really a critical part. But in terms of regulatory Terms of creating incentives for 500,000 electric charging station points for cars across the country, and I think what they really indicated is they want to use the structure, spending on transportation spending as part of the ways to get to their goals and On by by you know, The target, he says, is toe have zero carnal ecstasy, United States by 2035. It's now it's to reach. These are ambitious goals, calm stretch goals. But that's the way policy is gonna go. What does this mean for jobs Because we hear that actually, they're more jobs now and clean energy than there are and fossil fuels. But they're a lot of people still employed a fossil fuels right? I think there's over 10 million people who are involved just in the oil and gas industry. So I really don't know about. I wonder about the job estimates. There's you know, depends how you count them. But I don't think they're 10 million over 10 million unemployed and renewables, but You know they're more jobs. They're putting up wind towers. But solar panels remember that 80% of the world's solar panels come from China. So it does. It does create jobs but creates jobs Also in other countries, can we catch up with China? I think not in a manufacturing solar on China has a dominant position in the lithium ion battery supply chain, which of course, goes into electric cars. I think that's going to be by the way you're pointing to another priority is to say Can we do that? Can't we reduce our dependence for rare Earths and things on China, which you need for wind turbines and another equipment. But that would mean so I think we're going to see money spent on that. But that wood might also mean open new minds in the United States. Thanks to Dan, You're gonna viajes market coming up. A new president means a new approach to antitrust enforcement..
"daniel jurgen" Discussed on Bloomberg Radio New York
"This out. Great conversation folks on Eurasia Group's top wrists of 2021, including Daniel Jurgen. On oil was just mesmerizing. My book of the Year is the new map by Daniel Jurgen. And I'm thrilled that he participated in to hear from Joe Kennedy. Of course, this is a young young Joe Kennedy up against senator Market. That was really good morning, Boston one of 61 after him. Joe Kennedy was on fire as Paul Sweeney. I can't believe I'm saying this about a Kennedy About a rumor. Ah, former congressman exactly right, So it's itching to see what's going on in New England. Always a fascinating kind of pay attention. Now, I told him fix the Red Sox and, you know, you know a lot of work to do. There was a little work project. Maybe you'll do that right now, with their news in New York City is Michael Barr. Tom Paul. Thank you very much. A phone call this weekend between President Trump and George's secretary of state demanding a vote recount is sparking new controversy of the president's response to the election results. George's Republican secretary of state, says state election officials have debunked every theory of election fraud in Georgia. But President Trump continues to believe the rumors speaking to ABC is Good Morning America today. Brad Rapids, Berger says he found it inappropriate. The president was requesting to speak with them during an ongoing election lawsuit with his campaign. I just preferred not to talk to someone over in litigation. We let the lawyers family, but we took the call, and we had a conversation. In a recording of a call obtained by Bloomberg President. Trump is pushing Rapids Burger to find almost 12,000 additional votes to overtake President elect Biden. Today, The president will head to Georgia to help the GOP Senate candidates in tomorrow's runoff election. You can hear live coverage of the election on Bloomberg Radio and TV starting at 7 P.m. Wall Street time. Federal officials. They tens of millions of doses of the cove in 19 vaccine have been distributed, but there have been snags and getting those doses in the arms of people in the first priority groups. Long lines have been popping up all over. Florida and state officials have said they don't have enough doses to inoculate all health care workers or nursing home residents. Health and Human Services Secretary Alex Cesar says though the vaccine rollout is going as smoothly as it can what we said our goal was was actually to have 20 million first doses available in the month of December. Those are available, but there's a lag between doses being available than being ordered by the providers in the states. Iranian state television has acknowledged that Iran seized the South Korean flag oil tanker in the Strait of REMOVES the semiofficial Fars news agency said that Iran's Revolutionary Guards, naval forces seized the ship. Live from the Bloomberg Interactive Brokers. Studios. This is global news. 24 hours a day on air and on Bloomberg. Quick. Take power by more than 2700 journalists. An analyst on more than 120 countries. I'm Michel Bar. This is Bloomberg. Tom Paul Michael Barr. Thanks so much fishers of 13 down features of one of four not his elevated his earlier. I'm watching the vics ups was really smart this morning on Vics Dynamics. The vics are to be like in the 19 level, Paul. It's not. It's in our angst filled level. Yeah, we haven't seen that time We've seen the kind of hovering here between 22 23 24. Around that level, not just to me goes.
"daniel jurgen" Discussed on Bloomberg Radio New York
"Well, let's rip up the script, your folks, I was going to go through other ways with Meghan Green, including Red Sox baseball, But this is more important. And Red Sox baseball. Megan Greene, It's another shot. That the Fed the independence How does the Fed defend itself against the battle of independence back to McChesney Martin? So I think this man has to be creative. In this case. In particular, the effect can't provide the same kind of cookie cutter programs, Then it's just gonna have to innovate more. But in an era when Central base globally or trying to not be the only game in town, and they're asking fiscal authorities to step in if fiscal authorities don't step in the reality is is that central base will have to be the only game in town. And to do that, they're gonna have to do really unorthodox things. We've already seen that happen in Europe. PCBs offering Tell trolls, which were subsidies to the banks. And so you know, we're gonna need to see central base in it, And that's gonna be a lot harder for the Fed in particular and the feds gonna be much more sensitive to moving into physical space. If the Republicans are constantly taking shots at its independence, and we're gonna rip up the script twice with Meghan Green. We rarely do that, except with Meghan Green, and that is Russia with the headline out looking for an output lift on OPEC as well. Brent crude reacts a little bit. We'll see above 50 and it goes down. I don't want overplay the movement here, but Mega green My book of the Year Daniel Jurgen, the new map. And it's real simple. He talks about the new map of OPEC, the new PAP of Russia, the United States, Saudi Arabia, and the rest does oil politics matter anymore in your world, or is that a legacy of another time and place? So matter for you, I guess is the question It matters less for the U. S. Now that shell production means we're net exporter, but it's still certainly matters. We saw that in March, when oil prices started going negative, kind of what it did to the markets. And also what it started to do to the oil patch. It started to front much more consolidations. Soil certainly matters but less for the U. S. Did work. Lisa, why don't you jump in here and please rip up the script for a third time? We might well do that. That's a hat trick. I'll rip up the script for a third time. Let's talk and census and consensus being turned on its head, because that's really been the theme of today. This question of whether Blip in the markets. A blip in sentiment really calls into question. The consensus that has been so dominant in the economics world. The consensus is that next year will be a lot better and that will continue to grow and potentially start to grow out of the pain that we saw in 2020. Where are the cracks In that consensus, Meghan? Yes, I've got to say I've never seen such an overwhelming consensus among economists going into a new year. And so I agree with the consensus. It's hard to disagree that there will be pent up demand released next year up the back of a widely distributed vaccine, hopefully Um And then the actual driving these Granules a bit higher the U. S dollar lower. I think the major potential shortfall of that is that inflation could pick up and I actually will die on this hill. I don't think inflation Will kick up. But there is a chance that as you get there, just being released, you could end up getting a small uptick in inflation. If you ended up having central banks feel like they had to hike into that a lot of leverage companies Right. Lot of countries in GM will get into big trouble. And so I think that the most vulnerable point in that consensus view Mega green. Thank you so much. So Harvard Kennedy School senior fellow with us this morning. I do want to point out folks massive data here. It's a holiday length and work week where you've got the December 24th Christmas Eve. We're you know, I'll begin my Christmas shopping on what happens is you don't get the data dump on the 24th. You get the week's day to dump on the 23rd. So Wednesday is the key data date. 22 is busy tomorrow. But then 23 is just extraordinary is well, I guess Lisa New breath here. Futures. Negative. 59 is a lot better than 20. Minutes ago and two hours ago. Yeah, I really want to pick up on a number of things. That Meghan was talking about one of them this question of the Central bank independence. I mean, I feel like we've lost over this time. Yes, This has been the biggest hang ups on the fiscal support package was this clause limiting potential Fed action similar to what they took earlier in the year to try to spur lending to specific business is really raising questions about what the parameters will be. And yes, that has been dialed back in the language, Tom, but it raises a battle. That really will see next year with respect to the Republicans versus the Democrats, and how much leeway the Fed has to really battle any surprises negatively to the economy. Well, the threats of they've seen have been tangible and they sort of defend themselves. I think pretty well, it comes down to messaging. But also really the legislative branch coming to the fence when things get tested, and we've certainly seen that today I'm dollar dynamics, Lisa points out a stronger dollar and blended d x Y. 90.44. It's a little bit of a lift now off of what we've seen Euro. 1 22 doesn't give back It's stronger euro here in the last number of minutes, you really This is really interesting Dynamics, actually with Sterling 1 33 18. Lisa, What's credit doing? I mean, it was super super tight, right? Yeah. They were really right down there hasn't moved at all. No. In a word. I mean, it's basically just more about I mean, basically, there's an incredible bid. Some people have been taking some cashing out of positions or whatever. But for the most part, people plowing into risk and seeing credit is a place to do it well again and historic day. Lisa Brand once in Tom Keen, we continue through the morning as well again with futures. Negative, 60. Coming up any Goldberg will join us with the Peterson Institute, where they're wonderful heritage of working it with the World Bank, Penny Goldberg here on some of the nuances, societal nuances of his terrific pandemic. Again for those just tuning into the zeitgeist. The United Kingdom essentially in lockdown futures. Negative, 59. This is Bloomberg. Stay with us..
"daniel jurgen" Discussed on KCRW
"Greg Marie, and I'm an NPR national security correspondent. The book I'd like to tell you about is the new map, and it's by Daniel Jurgen. Now he's been writing and sweeping terms about global energy markets for decades. Yet this book, like his previous ones, is actually about so much more. He begins with a visit to tiny Dish, Texas. That's the site of the first successful Fracking operation Back in 1998, which launched a new era that's made the U. S. The world's largest energy producer. But it's also a book about climate change Your gun walks the reader through the battles to control the electric car market think countries that are making solar and wind power part of the mainstream. And ultimately, your gun shows us how energy markets explain World politics from Middle East conflicts to China's obsession with the South China Sea. He breaks them down through the lens of energy. Daniel Jurgen writes about energy, but his stories are really a master class on how the world works. Hi. I'm sharing Marisol Maraj e co host and senior producer of NPR's Code Switch podcast, And I'm proud to say that I loved Carla Cornejo via the scent. Theo's book in the undocumented Americans. Carla writes about the Americans who never get recognized as such because of their immigration status. People who live interesting, complicated lives. But our only considered workers laborers if they're thought of it all. Having lived the life of an undocumented American herself, Carla leaves her story with those of other undocumented people. She meets in five different cities across the United States. Their names have been changed, and it's possible their stories have changed a bit, too. In the undocumented Americans. Carla leaves it up to us to decide what's fact what's fiction and whether that even matters. Her approach to nonfiction and her writing style are innovative electric. You will feel it all when you read this book. There you have it for books for people interested in diving deeper into current events. We've heard serene Marisol Mirage recommending the undocumented Americans Greg Marie talking about the new map. Liz Baker, who recommended Breath and Eric Deggans recommending me and white supremacy. The full list of NPR's book Concierge recommendations. Check out NPR dot org's slash best balls. Andrew Bird began to wonder about Christmas. A while ago. Yeah, right song about.
"daniel jurgen" Discussed on KQED Radio
"And a little bit scary, because some of the experiments he puts himself through sound just terrible. I'm Greg Marie, and I'm an NPR national security correspondent. The book I'd like to tell you about is the new map, and it's by Daniel Jurgen. Now he's been writing and sweeping terms about global energy markets for decades. Yet this book, like his previous ones, is actually about so much more. He begins with a visit to tiny Dish, Texas. That's the site of the first successful Fracking operation Back in 1998, which launched a new era that's made the U. S. The world's largest energy producer. It's also a book about climate change. Jurgen walks the reader through the battles to control the electric car market think countries that are making solar and wind power part of the mainstream. And ultimately, your gun shows us how energy markets explain World politics from Middle East conflicts to China's obsession with the South China Sea. He breaks them down through the lens of energy. Daniel Jurgen writes about energy. But his stories are really a master class on how the world works. Hi, I'm sure in Marie Silva Rogie, co host and senior producer of NPR's Code Switch podcast, and I'm proud to say that I loved Carla Cornejo via the Sentinels book in the undocumented Americans, Carla writes about the Americans. We'll never get recognized as such because of their immigration status. People who live interesting, complicated lives. But our only considered workers laborers if they're thought of it all. Having lived the life of an undocumented American herself, Carla leaves her story with those of other undocumented people she needs in five different cities across the United States. Their names have been changed, and it's possible. Their stories have changed a bit, too. In the undocumented Americans. Carla leaves it up to us to decide what's fact. What's fiction on whether that even matters, her approach to nonfiction and her writing style are innovative electric. You will feel it all when you read this book. There. You have it for books for people interested in diving deeper into current events. We've heard serene Marisol Mirage recommending the undocumented Americans read Marie talking about the new map. Liz Baker, who recommended Breath and Eric Deggans recommending me and white supremacy. For the full list of NPR's book Concierge recommendations. Check out NPR dot org's slash best place. Andrew.
"daniel jurgen" Discussed on KTRH
"You're listening to and all patreas show. I'm Kimball Water your host, along with my co host, David Blackman, the editor of Show magazine. We're interviewing Daniel Jurgen, vice chairman of I Chess market as well as Chairman of Sarah Week. Then you before the break, I kind of got a little long winded and trying to understand why does there seem to be such an effort to this anti fossil fuel? And does that leave us more vulnerable tol being less energy independent, a more reliant on other countries? Why do you think this is Happening that were on this path. Have puzzled over. The question is too. Why is there this animosity to this great achievement, which nine U. S presidents were in favor of which is energy independence. And clearly, renewables are gonna have a growing role in the cost of renewables have come down like wind and solar, by the way, don't really replace oil because you don't put wind and solar into your automobile engine. I think it's Hartley. There is a pretty strong campaign against shale right at the beginning with movies and people believing that there are these huge environmental problems. People don't understand that the only gas industry is a pretty highly regulated industry. And they think it's kind of just the wild West and people just going punch holes in the ground, and there's a pretty strong campaign against it, suggesting that they're all these environmental problems. And I, But as I hear people talking about banning fracking It is a slogan, They don't really know what it means. But you know what a band banning fracking is, is really an important more oil policy because we have 280 million cars in the United States and Virtually all of them run on gasoline, and if we don't produce it, it will be produced somewhere else and the people who would like to who would also be very supportive of abandoned Rocking movement in the United States or some of the major oil exporters, and in fact, in the New map. I cite an example where Venezuela actually raised the question about supporting and anti fracking anti shell movement in the United States. And I think other producers would agree with that again. In a new map. I talk about one of the most prominent Russians who said, Why do we give up market share to the United States? So I think it's not very well thought out, and it's just not looking at the numbers on Oil and natural gas or use for whether it's a hospital operating room. Whether it's the masks that you wear because of cove in whether it's Uh, plastic that goes into an electric car, or even what goes into your medicines that people take On it. It's just not Understood. And you know, in fact, oil and gas in terms of their products, plastics have been a very important part of fighting covert, and I don't think that's very well recognized either. Well, I'm talking about numbers of you talk about winning solar and the numbers related to that. You know, One of the things we talked about a lot on our show is is that they're great Women Solar great and they have a road apply. In our energy picture, but they're not really you have to deal with them from a reality standpoint, and I and I kind of sensed that same kind of thinking in your room. Yeah, it's a scale question, right gets 80% of its energy, oil, gas and coal today. About 4% energy from a little lesson 4% from wind and solar That disparity. Which I think is what you're getting at, is just, you know, well recognized. Well, it's not. And people just seem to have a fantasy in their minds that you can replace all the metro guests and Cole with solar panels and windmills and anyway. I appreciated your parts of your book about that. For those reasons. Give people a framework in a scale. Yes, sir. Be abilities. They're gonna invest a lot more wind and solar, but what I really concluded the end of it. Is that we're gonna have a mixed energy system. And on. I actually think I have a sentence in the book. In fact, I'm pretty sure have a sentence that book saying I know some people don't want to hear this. No, the gas is gonna be around for a long time..
"daniel jurgen" Discussed on 860AM The Answer
"That just turned out not to be true. Combined with that you have this documentary recently that was actually produced by Michael Moore of all people called Planet of the Humans. Perhaps you've seen it that Ah goes after some of the left policy prescriptions for alternative energy sources. That again do not deliver what the left promises they will deliver. So this is sort of environmentalists. People that are very much you know, climate change oriented criticizing other people are very much climate change oriented, but actually trying to measure the impact of the policies versus what they promise to produce. And so I just wonder if maybe we're entering an era of rationality as a reaction to some of the overreaches of the end times in 12 years and and we're going to power, the world's greatest economy with solar panels and switchgrass crowd Well, I think it's you know, to take a world of our economy, a $20 million chilling economy or $87 trillion world economy and turned it in 20 or 30 years of foundation. The numbers just don't work to scale doesn't work. So you know, we'll see you no more renewable, certainly coming in. And if the Biden presidency that climate would be a big theme of it, But the reality is on. The other thing about that's out there, of course, is it's gonna take a lot of money. And resource is to bring our economy back, too. You know all the small businesses that have been really hurt or close down and so forth, So there's not gonna be as much money around to do all these other things. I think people think because the urgent problems or to get people back to work. And with respect to Ah energy in a geopolitical sense. What are the conflicts potentially on the horizon that America will have to navigate over sources of energy? Well, I think you know if we, you know, it's interesting. The Middle East is less relevant now from annoy ll for the United States That was in the past. And so you could have a big attack you had last summer in Saudi Arabia. That is the biggest oil facility in the world. And nothing happens because we're basically virtually energy independent. We have energy security. I think the issues in the future, you know, I think we're going in tow, more Rocky world in our relations with China are not what they were a few years ago when previous presidents talked about a constructive relationship with a changing China. Now they're very few things that unite Republicans Democrats in Washington one is seeing China as a strategic rival is a competitors. And so I think relationship figured out the relationship with China, which has a big energy component. We export energy right now to China is part of the trade deal. That President Trump negotiated, but at the same time we're rivals and I think sorting out that relationship. And I try and in the new map to really make it very clear in a very, you know, in terms of people how this all Came about this big change in our relationship with China. That's going to dominate the next decades. And how do you react the other day? I should say the other guys out there. This guy named Vladimir Putin and I have a story in the book. About being shouted at by Vladimir Putin when I mentioned the word shale because he doesn't like us shale, and but I can tell you being shouted at by Vladimir Putin is not a fun experience where you shot that in Russian or English. It was Russian and I listen to the translation. But I could tell from his body language, didn't you? Did you? I mean, were you on Terra Firma and the United States or were you overseas? Oh, no, I was there and he was on the platform with Chancellor Merkel's Germany. And so they said, That's the first question. I asked him a question. What? I was asking one question I mentioned shale and suddenly he rock erupted like a volcano. So Ah, you know, I put on sunglasses and made my way carefully out of the conference. Exactly. Wow. With respect to Ah T energy policy on the global stage. How do you react to Joe Biden and one of the things you said on Tuesday night, saying You know, Basically, we need to go back to the Paris climate Change accord. Well, I think I think that you know that's where he is politically. And I think that what might be even the first thing he does is president. I mean, we're not quite out of itcause over this period. It took a few years to withdraw from it. I think that would draw comes justice. We're going into this election and I think he you know he his climate plan is a lot more like what the Europeans are are planning to do, But you know, it's less than Bernie Sanders. Climate Plan with $16 trillion It's just only $2 Trillion. He is Daniel Jurgen, vice chairman of I s Market author of Pulitzer Prize winning author of the Prize, the epic Quest for oil, Money and Power, his new book, the new map, Energy Climate and the Clash of Nations. Daniel Berrigan. Thanks for joining us Appreciate it, thank you, and I'm glad that the fracking is helping to keep Chicago war attracting, he said. Scott Daniel Reagan. Thanks for joining us. You don't decide the turnkey dot pro insulin. Now we turned over for headlines with Mike. Grab a seat and sharpen your pencils class is in session with Professor Dan Proft on the Dan Proft.
"daniel jurgen" Discussed on 860AM The Answer
"African countries. My dream is to get all of them. Daniel, you organise my guest, probably the world's best known writer on energy. The new map, energy climate and the clash of nations. So what is the effect of American Independence with regard to energy oil specifically and the Middle East. Well, it's a It's a big change, and I think those countries that export oil took him A while to understand that the world had really changed in the U. S. Is not the way it is not going to be imported much oil or any oil from that region very little from other regions. And so I think, you know, we saw this peace deal last week between the United Arab Emirates and Israel, and I think there are many elements they're obviously security is one dealing with Iran. I think the the effect of the threat of drone attacks and Israeli superior technology was an attraction Trade. I think what other reason it wass kind of thinking Well, the U. S is going to be less engaged in this region and we ought to have a relationship with ah, very strong country in the region that shares our concerns about Iran, so I think I think that was one of the Spurs for this, but I think it's a historic deal. It certainly is a what is it? What is the shouty thinking? Now The world is getting more independent of oil. Others are producing Mohr. Are they worried? Well, I think so. I have a quote in the new map from a senior Saudi officials said. You know, we've talked since the 19 seventies about diversifying our economy have never done anything. Now we have to do it because I think they're two things London. See, it's going to be over time. We're talking decades in terms of the world, reducing its oil usage, But nevertheless, that's their major source of income. The others they have, like 70% of population is under the age of 30 or so, 35. They have to create jobs for them, so I think you know they're trying to be serious about diversification. You know, meaning not just being dependent on oil, but you know, when you have an oil economy, it's not easy, Tio thinking to do so. You know, I can't even think self sand. I Well, if you felt fans you could make it out of that You could make silicon. No, I think that they're you know, they're the largest buyer of defense as weapons from the United States. And I think they're saying what we should have more so domestic defense industries too. But it is hard type, you know, Identify. You know one of the things they want to have an entertainment industry. They you're joking. You are kidding. They don't They don't allow women on stage. Well, that's now changed that they have you know that. Finally, after 40 years allowed movie appears to reopen aims to be seen as sources of depravity and vice and the first movie they sold showed with Black Panther is an amazing fell out, you know, like a year or two ago. So that's what they're trying to do, trying to create a huge entertainment complex, So Saudis spend money there instead of going to Disneyland in Paris or Orlando, But it's you know, it's not easy to just you know, when you Yeah. Show. But all right, So let's let's turn our attention now to China, but which you write in the book. And It's it seems clear is day to me that this is the new Cold War the U. S and China. Yeah, that's you know, my first book was on the order of the Cold War, and I never expected to be right about cold wars but certain about a year and a half or two years ago, as I was writing, I said, we're not in a cold war there were moving into something akin to it, and we may end up there. Certainly we're you know this notion, you know, the U. S and China are quite interactive economically at the same time now, what, really dominating the relationship is that we're competitors, Strategic rivals, great power competition. And you know we had a cold war with Russia, the Soviet Union. But the Soviet Union was a very minor factor in the world economy. This is different. China is a big deal in the world. It's a very important distinction. Yeah, And so how? How This is going to play out. I mean, it is And they have, like you can just say it because at the beginning, you know point I really think it's you know, it's that second sentence and and and then what happens So this's Ah Ah ah, You know what? The consequence I think this is one of those places And then what happened, so it really takes some foresighted. Think this through. Is is Taiwan. Something the Chinese though that's a trip wire week, we can't invade. I think that they see that and they don't know. They think they know how the U. S would respond. They're not positive how the US responds, but they turn it around when they release their defence document last year. I quote the guy who released it saying, you know if Taiwan declares its independence We will go to war now, you know, so it's just this permanent ambiguity and, of course with what happened to Hong Kong kind of gives a new cast of Are you familiar at all with the story out of the Czech Republic that check, one of the ministers in the Czech Republic told the Chinese Two f themselves. I believe that the one where the China is that the one where the Chinese responded very shall we say forcibly Yes. Ah, the Ah! They they try to bully countries with regard to Taiwan. On and the Czech Republic. I love those people. They just they literally said to the Chinese what I just said. And in general, which is rather I when I was about to interrupt you, but I'm happy I didn't hardly. No, no, no, no. I'm saying I'm happy. I didn't. But I I It was about I've been all over that I've been through 130 countries. I I'm very proud of that takes takes an effort to get to so many countries anyway. You've almost exhausted the list. Well, there's there's a lot left. But the problem is, if you know what's left is not easy to visit. Yeah, there are direct flights to the Central African Republic. Let's put it that way anyway. Everywhere. I've gone in the third world virtually everywhere. There's this gigantic Chinese presence. That's right. I mean, that's that's really there. That's what I say They're so integrated in the global economy. The prime minister, uh, Singapore had a very interesting article about two months ago where he basically said, Don't force us to choose. I go to the Middle East and I hear people saying Well. Our strategic relationships with United States. But China's our biggest customer, and I did a dialogue. All right, hold on with that. Don't Don't forget the word is dialogue. The new math Energy climate and the clash of nations. Daniel Jurgen up Dennis prager dot com I pledge allegiance to the flag of the United States Across America are Children recite the words support our nation's most dear beliefs. But in.
"daniel jurgen" Discussed on 860AM The Answer
"On energy is on the line. One of the few people I know of who's actually respected by the right and the left. I don't know how he's achieved that, but it's quite an achievement. Daniel Jurgen. And his. He's a member of the board of the Council on Foreign Relations. His new book is the new map, energy climate and the Clash of Nations. Am I Right about you? By the way that both sides review that seems to be the case, Dennis that seems to be the case. So I guess sort of. I can't quite explain it, but I think you called it. Yeah, that's it's a credit to you. Not true for me. You're I kind of stay in a fight in a different lane. You understand, anyway, it's much thoughtfully true. The left reads bi. It ordered that attack me anyway, you don't have to react to that. It's quite a right anyway. It's a pleasure to have you on the book is important. The subject is unbelievably important. Again, Thie subtitle tells you what it is about energy climate and the clash of nations. It's exactly about all of them. So The United States. Correct me if I'm wrong, the United States became for the first time. Or at least the first time, I guess since the early 20th century energy independent, is that correct? Yeah, well, we were just there in February of 2020. When covert hit, and so we're not quite there now, but essentially Dennis, that's where we are, when a really different position than we were even 10 or 12 years ago, and I think people don't realise how much that's changed and how beneficial that's been to the country. Right is is the primary reason fracking. Absolutely this thing that started off people set off. You know, this won't work to textbooks say you can't kind of get oil and gas out of really dense rock, which shale is and a few stubborn people insisted that you could And it's changed the global market and change the position of the United States in the world. I mean, we were a little over a decade ago, we were importing 60% of our oil. Now, as you say, we're very close to being self sufficient. And by the way, we're the largest producer of oil and gas. In the world. If the Democrats win the presidency on the Senate, keep the house what will happen to fracking? Well, I think we've seen some oscillation on the Democratic side. There's part of it. Part of the party that says Ban fracking without I always think they never have their second sentence ended. What happened? And then you heard Biden the other day in western Pennsylvania were in fact, a lot of people have gotten jobs and they're, you know, have income and rescued communities because of fracking there, he said. You know, I'm not going to ban fracking. I think so. I think they'll be a battle within the Ah Biden administration if there is one And I think you know they'll have to face the question. I mean, when I said they didn't finish the sentence, I think if a banned fracking policy is really import and import a lot more oil policy because somebody will fill the gap in the people who do that will be the oil exporters. Exactly, By the way, the moment I want, you don't even have to react that I'm not trying to put you on a conservative or liberal spot here. But in my view the moment one asks, and then what? One is a conservative. Would you just leave it in the back of the that's that's what I think maturity demands and then what? But alright, So ho, I think, Dennis Dennis, I think you're right. I mean, you have to say, Well, what are the consequences of that You can't discovered on the basis of bumper stickers. Right. Bless your soul. So As you gave me an answer of what Joe Biden said in western Pennsylvania. What what is your belief about what a Biden administration would in fact, do Visa VI fracking? Well, I think partly will depend on finally on who we appoint to a few key positions. I think there will be more restrictions. You know, I think there'll be more regulation. You know which will not ban fracking. But you know, they said you can't you know, produced, you know on federal lands, and people hear that in Yellowstone National Park, but The federal government owns 48% of the western United States. There's a lot of lander. It's not Yellowstone National Park, so I think they'll be. I think you'll be that Ah Ah, and I think I think will be harder to build pipelines for these new supplies. That will be more kind of in general, will you know there'll be a bigger emphasis on regulation across the economy, especially their their pendulum swinging? It's pretty scary to me all right now. Do you have a theory as to why the opponents of fossil fuels are not pro nuclear power? Well, there are a few who are but I think it's you know, I think it's part of the DNA to be against nuclear power, too, even though it's 20% of our electricity. And it is carbon free electricity. So you know, I think it's just it's just been part of the tool kit for so long. Obviously things like Fukushima, when you know you have something like that happens, But Fukushima proves how safe it is. Well, I guess in some ways you could say that in any event, Fukushima was, you know, my previous book I looked at, you know, looked into it. You know, the seawall had been about 3 ft. Higher. It probably wouldn't have happened. But in any event, you know, let's say Germany is shut is shutting down its nuclear power. In that same period of time, China will have added more nuclear power. So other part. Other countries are moving ahead. But here it's partly also the other thing right now. Nuclear's having this problem just competing with cheap natural gas, But I have to go back to your point. I think you know they're probably some Environmentalists, some people very concerned about climate change who want nuclear power, But the vast majority of it just you know, I have written it off, right, so so here it's not a right left issue. I'm just curious. What is there is a purely emotional. I have not read a single Coherent argument against nuclear power. Yeah, I think there is. You know it goes back decades. Fear of you know what you can't see of radiation and all that sort of Hearing things, but you know, nuclear power. The United States is very well managed, and Ah, there's a very effective system for managing it. But the reason by the way, forgive me. I just want to see the reason I said Fukushima proved that safety is that was the worst case scenario and virtually no one died. You know, people died of the two NAMI not not not of radiation. Yeah, and what I was going to add, You know, it's not well known. You're actually this country now. 60 too, I think will certainly over 60 companies and projects looking at developing next generation nuclear energy. So nuclear, you know, you know, people see that nuclear if you're going to move in the direction people want, you know, people are moved to low carbon Nuclear's apart and you know it was part of that picture. The book is the new map, Daniel Yorkin, and how long have you been Writing? As long as I've been reading you've been writing were really what's going on. I started young, but you did. There's no question you did. I mean, it's I have associated your name with energy expertise. All of my adult life. I mean, that's right. You're a young man. So I mean, I'm gonna know my kid. You're kidding. The new map, energy climate and the clash of nations. The book is up Dennis prager dot com. Kind of is again Daniel Jurgen..
"daniel jurgen" Discussed on WBSM 1420
"Of greatly exaggerated the media that it's causing earthquakes that that they're these unknown risk sort of in the same way that the West has played up the risks. Nuclear power that have never truly materialized in well built nuclear facilities. Well it, you know, even in the film that showed people you know, lighting, you know water because it's supposedly had, you know, because of fracking actually didn't come from that It came from other things. You know, I actually was on a commission that, you know, reviewed all of this, and it's say it has to be regulated properly. There were you know, there were some earthquakes in Oklahoma because of not fracking, but because of you. Three injection of the water that comes out from cracking into an imp. Inappropriate location. But mostly, you know, the notion of poisons water. I mean, this is you know, we're producing huge amount of oil with just technology. And if there was really these, you know really problems we hear about them consistently. But you know, it's the thing that excited either, are ah are either Unusual or things that need to be fixed or actually didn't happen. So you know this, but I find again. There's this kind of emotional reaction which environmental disaster When people don't actually say Well, okay, tell me what the environmental problems. There's some things that have to be managed to have to manage emissions and so forth. You have to matter. You know it's an industrial activity, but the kind of Ah talked it out there. I mean, this is you know, this is a great American story about disruptive technology. And you know, I didn't tell the story of the guys who made it happen And, you know, they did it by being stubborn and having a different way of doing things And no one really saw how no one really believes it could even happen. Most people who textbook said it couldn't happen. And yet it's made the United States the world's largest oil producer, now amazing. I'm seeing Daniel Jurgen. His new book is the new map, energy climate and the clash of nations. So what would it Joe Biden presidency Mean for gas prices, For example, I think one of the going theories of the left is that we need a massive carbon tax. This, of course, will be passed on to consumers of gasoline. It's a regressive tax because the people who most need to use the gas or the people need to drive the work, not the Richie riches. You get to sit home and do their jobs remotely. Basically all the people who've been hurt by the Koven 19 pandemic we still need to commute to work in actual physical places will be hurt by increased gas tax is, for example, what would shutting down Frank And you two gas prices. Shut, shutting down gas prices, you know, but you got the best people they would go up and I think that's what World oil market would tighten. We'd be importing a lot more oil and you know, so it's going to be interesting if Joe Biden is president that he's a pragmatic politician, you know, how's he going to do the trade offs between you know the people who, you know? Want to stop all this activity and people who worry about the economy and worry about, you know, getting re elected? So, but I think the reason gasoline prices air down big reason benefit to American consumers is because of the shale revolution. Otherwise, we'd have a much tighter oil market would have higher prices would be back to where we were in 2012 when we're looking at $5 Gallon prices. The book is really worthwhile. It's called the new map, energy climate and the Classroom Nations. Daniel again really appreciated time and all of your work despicable. Daniel Jurgens work. He's a Pulitzer Prize winner back when the Pulitzer Prize actually meant you wrote good things not photographed for The New York Times and appreciate it, and it's a pleasure to talk to you. Thank you very much, All right. We're taking your calls coming up in 855236 30 to 28 that is 855. 236 30 to 28. This is the bench appear Osho. You are not your diagnosis. A medical chart is not your identity and vision loss does not define you. You and Dr shows who you are, and you are.
"daniel jurgen" Discussed on WLS-AM 890
"Its seven Michael of in the Right Side of conversation, 8 90. W. L S. Arcamax is of entropy. Rochelle were joined on the line by one of my favorite authors, Daniel Jurgen, He's author of a great new book called The New Map, Energy Climate and the Clash of Nations All about American Innovation. The Shale Revolution. Daniel, Thanks for joining the show really appreciate it. A pleasure to be with you. Thank you. So let's talk about the shell Revolution because it is a really underrated part of everything that is going on right now. From Middle Eastern peace to the green at new Deal, Whatever she started out with policy, the Middle East you've written books, obviously the past about the power of oil in world politics. One of things that we watched breaking out the Middle East is now this This new sort of peace movement between the U. S. A. And Bahrain and Israel in Saudi Arabia is likely to sign on some of that is driven by the geopolitical situation with regard to Iran. But some of that is driven by the fact that a lot of these oil rich countries in the Middle East simply do not have dominance on the world market the way the day once said, How do you think that the Shell Revolution America's innovation in the production of natural gas and oil? How's that changed politics? Been in his transformed politics has transformed the position of the United States in the world for being the largest importer of oil to being the largest producer of oil in the world. And it's had a very positive effect on our economy in terms of jobs in terms of manufacturing, in terms of over $200 million of new investment in factories in the United States, and as you suggest, it's also change the position of the United States in the world. It's given us a flexibility that we didn't have before. So let's talk about you know the impact of a fracking and natural gas on the environment. One of the things that's so astonishing right now is that we are watching a particular people in the Democratic Party, declaring that the end of the world is nigh that climate change is responsible for everything from the hurricanes that we're seeing to the wildfires in the West. And it is sort of the climate change is happening, and it's also true that it is largely man made. But it is a greatly underrated part of the narrative that the reason that the United States has drastically reduced its emissions over the last five years. More than any other country on Earth. So far as I'm aware, is not because of regulations, but because of the substitution of natural gas for oil. And it's exactly that many of these damn Democrats are attempting to curb You guys, You know, it's such a important point, then because thie us, I mean, we've taken our emissions down to the levels of the early 19 nineties and our economies doubled it. We've done much better than any other country in terms of addressing out and yet it gets no credit, and it's because natural gases pushed Cole out of Electric generation. So I think the benefits just you know, there are environmental industrial activity. It has to be regulated properly, and it is largely regulated properly. But the notion that if you say Let's ban fracking is And then I say, Well, what's the rest of it? That's what happens in well. I think banning fracking is really an import more oil policy because that's what happened and it would create a gap in the world market, which would be made up by other countries. Who would be glad to take marketshare from the United States that is turning back. I mean, we have 280 million cars in the United States, They're not going to go away. What do you think is driving this this movement to ban fracking? And you've seen Joe Biden saying he's going to ban fracking. He's just going to stop new oil leases, which, of course amounts to eventually banning fracking. Why do you think there's described to do it? It is an environmental good. It is significantly better than oil drilling is taking power away from dictatorial countries, which had had a stranglehold on the world Energy markets. What is driving this you'd open? I asked myself, You know, I think about that a lot and I had to think about is writing a new map. I scratched my head. I should. Okay. What is it that you really don't like? What is it? I think it's I think it's it's. It's a bumper sticker that says, you know the word fracking is a great thing to be against. I guess it's actually called hydraulic fracturing or, well stimulation. But you know, it's known as fracking, and I think it's kind of it's emotional rather than you know when you look at it, and you say what's the consequences of that will cost a lot of jobs in America? And it's not going to mean it is any less oil used in the world. Just mean dollars would stay in our country instead of going overseas. So let's talk for a second about the supposed environmental risks of fracking Daniel Jurgen. His new book is the new map, energy climate and the Clash of nations. The environmental left suggest that fracking is inherently dangerous. We see all sorts of bizarre information put out about how fracking is causing people to be able to light fumes from their sinks on fire and all this sort of stuff. What are the actual risks of wracking Because again, you see this sort of greatly exaggerated the media that it's causing earthquakes that That there are these unknown risk sort of in the same way that the left has played up the risks of nuclear power that have never truly materialized in well built nuclear facilities. Well it you know, even the film that showed people you know, lighting this, you know water because it's supposedly had, you know, because of fracking actually didn't come from that It came from other things. You know, I actually was on a commission that, you know, reviewed all of this, and it's say it has to be regulated properly. There were you know, there were some earthquakes in Oklahoma because of not fracking, but because of Re injection of the water that comes out from cracking into an inappropriate location. But mostly, you know the notion that it poisons water. I mean, this is, you know, we're producing huge amount of oil with just technology. And if there was really these, you know really problems we hear about them consistently. But you know, things that are sighted either, are ah are either Unusual or things that need to be fixed or actually didn't happen. So you know this, but I find again. There's this kind of emotional reaction of environmental disaster. When people don't actually say Well, okay, tell me what the environmental problems. There's some things that have to be managed to manage emissions and so forth. You have to matter. You know it's an industrial activity, but kind of Ah talked it out there. I mean, this is you know, this is a great American story about disruptive technology. And, you know, tell the story of the guys who made it happen, and it's you know, they did it by being stubborn and having a different way of doing things and no one really saw how known really believe it could even happen. Most people who the textbook said it couldn't happen. And yet it's made the United States the world's largest oil producer, now amazing seeing Daniel Jurgen. His new book is the new map, energy climate and the Clash of nations. So what would it Joe Biden presidency Mean for gas prices, for example, I think one of the going theories of the left is that we need a massive carbon tax. This, of course, will be passed on to consumers of gasoline. It's a regressive tax because the people who most need to use the gas or the people need to drive to work. Not the Richie riches. You get to sit home and do their jobs remotely. Basically all the people.
"daniel jurgen" Discussed on WNYC 93.9 FM
"It's changing the energy sector, especially in the past decade or so, 60 is not exactly spry and Hegel anymore, you know? Daniel Jurgen has spent decades explaining geopolitics through oil. His books, you might know include the prize in the Quest. He's also a vice chairman of the big research and information company. I H s Market. His latest book on the State of Play in the global energy economy is called the new map. We gotta measure here at home couple of days ago. We got to get rid of a kitty cat. That's all right. We'll take it all. You're going to hear my dogs here in a minute. Okay. Ah, world of Ah, I'll tell you what I want to ask you well, there's a lot of stuff I want to ask you about in this book, but I want to go to the section that you call America's new map on. I want to point out as you do in this book that for decades, generations really American foreign policy has been based around on on energy and you write in this book. That the last decade has really changed that. What do you mean? The U. S for half a century was preoccupied with the fact from this point of view that it was importing oil and had become the world's largest importer. And now it turns around in a remarkably short time US has become the largest Producer of oil in the world, and that you're of scarcity is over that so dominated our foreign policy. A lot of this Virtually all of this, you credit to the Shell Revolution and Teo that economic impact that it has had on this economy. Has to be said that there are environmental problems with fracking and getting shale out of the ground. And that comes in for some deserved criticism. But it has been you say, an economic boom to this country that that really deserves Mention. Yes, I think on the environmental grounds I was part of the commission that has an Obama set up to look at shale. Instead. If it's properly regulated, it's industrial activity. It works well. And that's been the case in general. There have been issues that have come up in specific circumstances, but the economic impact, So I think that the things that are not recognized big impact on manufacturing in the Midwest over $200 billion of investment in new factories and created a lot of jobs. It means that basically money that went overseas Into this sovereign wealth funds of countries instead of state in the United States and circulates in our economy. What does it let us do this ability to be energy independent? What does it let us do internationally and in the global economy what it's it's what it's done is it's given flexibility. U. S foreign policy Whether you support President Obama's approach to Iran or or President Trump's approach or what might be President Biden's approach We have flexibility to deal with Iran that we didn't have before, because the Iranians thought that you know they had the high card because the world couldn't do without their oil, but actually the US president Obama put sanctions on Iran. And their oil was replaced by our oil, So that's I take a clear example of the impact. Ah can't talk to Daniel Yergin without talking about OPEC and the cartel that has dominated the energy conversation for well since its founding, really? You say now? That's not really the conversation to have that conversation have in global energy is Russia, The United States and the Saudis Talk about that a little bit. OPEC versus non OPEC Has been the sort of dominating motif and people's minds about how the energy the oil world works. That's been overtaken by the fact it is dominated by really what I call the Big three. What the United States does. Saudi Arabia does and what Russia does. Last April, when the US economy and European economies were shut down. An oil prices went negative, which is a hard concept to wrap your head around. It was the United States that really stepped in and made a deal to stabilize the market..
"daniel jurgen" Discussed on SuperTalk WTN 99.7
"Carbon numbers right now are very low there really low, so that's another thing. Even if you believe in this happy horse dung, you look at what we're doing in our carbon output. Is lower than it's been in a long time. This under a Trump administration. I'm not saying it's because of him. I made a lot of this has to do with Corona virus. But it's low nonetheless. So why are we so all fired? Worried about this stuff? When it does not seem well, for one thing, like I had somebody whom I told you it's hard to find our movie and inconsistent with you Go to YouTube and put in literally and inconsistent truth and it won't take you there. Now, people who tell me if you put In the YouTube search and inconsistent truth, Phil Valentine that will take you there. Hello. But what other movies has called an inconsistent truth. There's only one which is ours. So obviously, YouTube is trying to keep traffic from the movie. But I got to come in today from some Chloe somebody and the many comments that we get, and they show up on my email. So you know, it's some most of these, I ignore. But she says Well, but you know we were co 2 may not be a pollutant but man made Co two is what's causing global warming. And I said I would love to see the proof on them. And I'll let you know what she says. What she will say is 98% of the scientists agree, or 97%. That's not good for one thing. That's a bogus stand. But it's not proof. Do you have any proof? That what we're doing is humans is causing the earth to warm or cool or the oceans to rise or fall or the ice to fall over any of this, do you have any proof of that will know there is no proof of it. So we're making all of these monumental changes and the Democrats. If Anvil Joe gets in there with all of this great a matter of fact that I have a story on that wasn't yesterday. I had that. I thought it was today. It may have been yesterday. We didn't get no, no, no, no, it is today. Biden's energy plan. Check this out. This is from Steve Moore, the Fountain, co founder of the committee to unleash Prosperity and a member of President Trump's Economic Recovery Task Force and a frequent guest of the old Phil Valentine Show. Joe Biden just can't get his story straight on his green energy promises in Pittsburgh in front of union workers last month, he declared, I am not banning fracking. Let me say that again. I am not banning fracking. No matter how many times Donald Trump lies about me. But that's far from what he was saying earlier in the year during a March Democrat primary exchange between Burn me Sanders and Biden Sanders started by saying, I'm talking about stopping fracking. As soon as we possibly can. I'm talking about telling the felt the fossil fuel industry that they're going to stop destroying this planet. No ifs, buts or maybes about it. And Biden said So am I. Well, so he just agreed with exactly what by what Burn me said and burn me says I'm talking about stopping fracking as soon as we possibly can. Hello. Well after the famous Biden Sanders debate, the Biden campaign issued a retraction, meaning this isn't really what he meant to say. And they say, Of course, you know he's old. He loses his train of thought he can't be expected to remember his latest official position on fracking every week. His latest flip flop is no drilling permits on federal land. But what is unambiguous and in big, bold riding in the Biden by America plan is a signature pledged to climate change Crusaders to end fossil fuel use No, I'm not kidding about this. He wants the end fossil fuel use in this country. In 15 years. This, of course, is a de facto ban on fracking. Ifyou're going to ban fossil fuel use, you're certainly not going to do any fracking so If we are going to do that, I mean, how you gonna frak if you're not using fossil fuels? That Biden zero carbon emissions target requires a glide path to no fossil fuel production and consumption 15 years from now, given what we currently get about that we get about 80% of our energy from oil, gas and coal. According to Daniel Jurgen, he's a world expert on energy. Getting down to zero was going to be a gut wrenching experience. For blue collar workers, and there are a ton of them. The oil, gas and coal industry accounts for somewhere between five and 10 million jobs, depending on how you count them, and so those jobs and they're all high paying blue collar jobs. They'll all be gone in 15 years if Biden gets his way. So you folks who make your living by working in the so called fossil fuel industry, which, by the way, the fuel doesn't come from fossils, But that's an argument for another day. We're looking at 10 million jobs, they would go down the drain. If you put Joe Biden. I'm some. I'm sorry if you put Kamala Harris along with Joe Biden. The Harris administration. And she's more radical than he is. He's being pushed down this road, but she's absolutely nuts on it. So there you have that. What else was I going to tell you? Oh, yes. Yes, Yes, Yes, Yes, yes. We have the Ravens. That actually stood for the so called black national anthem and then they took a need for the really national anthem. Now let me ask you this about the so called black national anthem. I'm really.