17 Burst results for "Daniel Jurgens"
"daniel jurgens" Discussed on Bloomberg Radio New York
"For you, she was your queen. To us, she was a queen. To us all. She would be with us forever. We will remember and perpetuate the values she never seized to embody and promote. The moral fortitude of democracy and freedom. A tribute to the late Queen Elizabeth II from Emmanuel Macron. The French president. Pitchers come again now sent around the world of King Charles the third, touching down from balmoral, Scotland, just mama sugawa, now heading to Buckingham Palace where a little bit later on this evening in the United Kingdom, 6 p.m. local time, so 1 p.m. eastern will have an address from the kingdom to the nation and as you've rightly pointed out so I'm not just the nation to the world. I think to the world and is President Biden and doctor Biden, I believe John are confirmed now attend the funeral. And others will, I hearken back to 1963. It's my only equivalent to shock of Charles De Gaulle in highly Selassie of Ethiopia standing there at Arlington cemetery seared in my childhood. I don't mean that there's an equivalent there, but at the same time, I do think that the enormity of what we may see, I believe, ten at least scheduled Monday up next week could be really significant. When if a confirmation of that term? Well, when? Waiting for confirmation. We're waiting for excuse me waiting for confirmation to come. This is an honor, and we've had an extraordinary first day, John Lisa and I say thank you to our team working around the clock since the death of the queen to bring you voices of perspective. Daniel Jurgen is an S&P Global author of a few books on oil and also definitive, the commanding heights, the battle between government and the marketplace, the remaking of a modern world, the Queen Elizabeth was so much a part of. Doctor Jurgen, thank you so much for joining us. And I go back to a conversation you and I had after the death of baroness Thatcher of a funeral you attended with great emotion in London and the politics of Thatcher and such, there was a relationship of the commanding heights of British politics, always with the queen. What will that relationship look like forward with a king? Well, this is a king of course is very much part of the
"daniel jurgens" Discussed on WNYC 93.9 FM
"The world, so people need to be careful. NPR's Nathan rod, thanks a lot. Yeah, thank you, way. Throughout Europe, energy prices have soared and there's talks of rationing and blackouts. This comes after Russia cut off a key natural gas pipeline to Germany. It's a move seen as retaliation by the Kremlin for western sanctions on Russia over its invasion of Ukraine. This energy crisis, though, is not limited to Europe alone as NPR's Jackie northam found, countries around the world are also feeling the impact. Energy markets are highly integrated networks, a disruption in one part of the world like Europe is going to have a knock on effect across the globe. The war in Ukraine has destabilized and is reshaping global energy markets. Daniel Jurgen is an energy specialist at S&P Global and author of the new map energy climate and the clash of nations. He says before the Ukraine war oil and gas markets flowed in response to supply and demand. He says now it's become more fragmented and politicized and it's felt across the board. You have factories shutting down in Europe. You know, this affects airlines is the prices go up. 70% of the cost of food is energy, whether it's fertilizer, whether it's processing, whether it's transportation. So an energy crisis affects food prices. So this does feed into inflation. At the heart of the crisis is Europe. Many countries there decided to wean themselves off Russian energy after the February invasion of Ukraine. Russia has retaliated curbing or cutting off oil and natural gas to many parts of Europe. With the Eurasia group, says that's created a race for new sources of energy. Because the Europeans are trying to replace every single fossil fuel source from Russia with anything else. They are hoovering the market for gas for coal for oil and that is driven up the prices for all these products from China to Japan and India. The European buying spree has left other countries struggling to get their own critical supplies. That is Africa and access to gasoline and diesel. It is Pakistan and access to natural gas. And it is Brazil access to fertilizer for the agricultural industry. We're focusing on rich countries at the moment, but the hardest pain is happening in poor countries. Christine bergener, with the German marshal fund, says replacing natural gas in particular will be tough. You just don't turn on the taps to increase production. The U.S. isn't able to suddenly export a lot more because it takes about two years to construct an export facility for liquefied natural gas. The same is true of Qatar, Nigeria, Australia, elsewhere, even before the war, there was a looming energy crisis in large part because of years of underinvestment, says a men a bucker with energy intelligence and industry publication. Speaking from Dubai, she says Western countries should have thought about that before sanctioning Russia. A lot of people will have the view that Russia is at fault here, but why don't they look at their response from the western states. The sanctions were just announced without a plan B they're just scrambling right now. Daniel, Jurgen says the energy shortages are forcing countries to do things they didn't expect to, or said they wouldn't do. Japan is starting up more of its nuclear power plants, Germany, which was going to shut down its last three nuclear power plants, is considering keeping them operating. And of course, people are burning coal as an alternative to Russian gas right now. Jurgen says, things are likely going to get more difficult in the next few months as winter sets in and more energy is needed. Jackie northam in PR news, Washington
"daniel jurgens" Discussed on Bloomberg Radio New York
"Was down today largely because of a spike in market interest rates We had the yield on the U.S. ten year treasury jumping by more than ten basis points to 2.84% In terms of equity market action the Dow was down by about 7 tenths of 1% The S&P weaker by a little more than 6 tenths of 1% and the NASDAQ composite weaker by about four tenths of 1% After the bell HP ink narrowed its adjusted EPS forecast for the full year shares her down about two tenths of 1% right now in the late session We also heard from Salesforce after the bell the company reported both subscription and support revenue were in line with estimates for Q one shares are up nearly 7.7% right now Stronger dollar with the Bloomberg dollar spot index picking up four tenths of 1% today given that spike in rates I'm Krishna that your Bloomberg business flash This is Bloomberg Sound on with Joe Matthew on Bloomberg radio You do start feeling like we're setting up a road warrior movie here right Forget about Top Gun for a second The gas is too expensive Let's assemble the panel now for some insights into all of this Bloomberg politics contributors Jeannie chansen and Rick Davis an essential part of the fastest hour in politics Jeannie I hope you had a great and long weekend If Daniel Jurgen is our adviser here as we map out of all of our solutions to the world's problems he is a pretty good one There's nothing if I heard correctly there's really just nothing The White House can do but watch the oil market much like the rest of us Yeah you say that last difficult question And he said you know maybe release some more oil They've already done that better coordination on a global scale And you know one thing I think it's important to note you know he said rightly so we're looking at two available sources where it really looking at the UAE and Saudi Arabia and you look at what the west has done Vis-à-vis those two countries in the last 5 plus years Biden describing you know Saudi Arabia is a pariah state There was the notion that the oil industry is dying You add Europe focusing on solar hydrogen all those kinds of things And so you really don't see much incentive for Saudi Arabia to cooperate at this point which is a big problem Now I'm not suggesting that we shouldn't have called him a pariah state for the human rights violations but you know you have a policy that makes it now in Saudi Arabia's gives them little incentive to cooperate with the west at this point And that's a huge huge problem when they are one of the two sources out there Therefore Rick Davis call it the Putin price hike and get on with it right If this is not something that we can really affect between now in November Yeah I noticed today in the meeting with chairman Powell There was very little conversation about gasoline prices Dancing around sort of the most obvious problem that American consumers are having right now I mean Americans are on the move They've spent two years sitting in COVID waiting for this moment to gas up the car and head for the road And now they no longer fear COVID but they fear is the price of gas And today the retail price according to triple-A hit its highest ever for unleaded in the last 5 or $4 and 62 cents Well I felt horrible report card for this administration That is an average $4 .619 per gallon to Rick Davis point here a record high from triple-A and we're gonna get more record highs if Daniel Daniel jurgens thesis is correct here right Jeannie So you gotta start deflecting if you're gonna handle this from a political standpoint unless you're finding new sources of energy That's right And you know they are you know as we talked about last week they're trying to meet with Saudi Arabia They're trying to take some steps but you know I thought gosh did I feel badly for Jerome Powell to a certain extent today Because you know you had the president parading him in front of everybody saying he won't interfere with the fed This guy now has the toughest job Maybe in the world because he has now been pointed at as the poster child for if you don't do this it's your fault you and Putin quite frankly But what else can the president do Because his hands are basically tied And so you know Jurgen sang prices go up There's no political win here for The White House but to try to deflect and to say that they're looking towards the people who have the power I love the president's quote today when he said he wouldn't interfere of course you're not going to interfere with the fed you have nothing that you can do at your disposal Man you're giving me heartburn here jeanie Imagine Rick being that guy you're sitting on the couch the president's saying you know I defer entirely Rick faces here when it comes to inflation The number one issue for Americans at home and you're thinking oh my God I think my mom's calling Yeah who knew there was a trapdoor in the Oval Office Powell right through it today I mean how would you like to sit there with the president I mean it's one thing for it though You know I think that the abject failure of leadership today in the Oval Office with chairman Powell on behalf of Joe Biden was not worth the price of admission I mean basically what Joe Biden told the American public is pound sand This is a guy who's unelected He reports to Congress I have no influence on chairman palette and I wouldn't want to have any influence on chairman Powell but he is the reason you're going to have so much pain in the grocery stores and at the pump at the gas station I mean don't blame me I mean like that's the biggest buck passing I thought the box stopped on the Oval Office desk Didn't get passed over to chairman's office What's he going to do though Sending out tweets like Donald Trump and say what's wrong with you Hike at interest rates at a time like this or I mean the alternative brings criticism as well right Oh look I mean if he agrees with pals strategy of tightening then he should say so Obviously giving support and effort to the chairman of the fed is always a positive thing He's not immune from being able to comment But at the end of the day the ball is in his court I mean I disagree with you Why wouldn't you get the you know head of Saudi Arabia the head of UAE in a meeting somewhere on Zoom or in person drop the pretense that somehow all these people are bad folks They do only one thing They pump gas And so if we have a gas problem we should be talking to them at some level of government It doesn't have to be Biden Well we are approaching the Saudis right And they're taking criticism for that Genie Obviously the whole Khashoggi story is going to come up again as soon as we start talking MBS Oh it absolutely will And you know I.
"daniel jurgens" 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 jurgens" 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 jurgens" Discussed on KLIF 570 AM
"That. Email. Stevens email should have done it, but I forgot it was going to play today. So Daniel, your organ is an oil analyst, and he's one of the smartest guys out there. Additionally, He's great historian of business, and he wrote the ultimate book on the entire history of the oil industry, and it's still It's called the prize, and it's still in print all these decades later, because if you care about the modern times and what actually Was the energy that propelled modern times its oil industry and he had it all. It's great stuff. But in this he's talking about the future for electric cars. And he goes just a decade and a half ago, CEO of General Motors Rick Wagoner. Observed Larry Burns that time head of GM research and strategy that not many industries stay the same for an entire century. But the automobile industry had so far been the exception. Gas fuelled run by internal combustion engines, four wheels. What's the carve the next 100 years going to look like now? Notice, he said a decade and a half ago. That was the exact same year. They'd asked me to write an outside review on hydrogen fuel cell cars that GM and I didn't take it as seriously as I should have. But I dashed off nine pages didn't even send it to my editor. So who knows how many mistakes were in it? But it basically was history of GM Alfred Sloan, the legendary chair of General Motors. While GM did have research and design studios on many things, Alfred Sloan wouldn't spend the money. As he kept telling his people. Sooner. Everybody else going to spend money on this stuff. And when they figured out will simply by the patent rights and make it a case in point. Safety glass. You know, everybody expects that on the car today, but people forget in the earliest days I had tempered glass. You could have an accident. And your glass shattered and you had massive glass shards all over you. So we knew. And remember this also in the day without really good roads, so you could be going down the road and your buggy. Here to mud pit on that dirt road after rainstorm, and you could twist the car and shattered the glass and when windshield So Sloane says somebody else. Let them spend the money on creating a glass of won't do that. And we'll by the patent rights. Well, it was the Ford Motor Company that came up with it. And GM simply started making it too. And that was hydrogen fuel cell cars going back to the story. Daniel Jurgen recently was talking to Wagner about that conversation, and Rick said I was asking if we were starting the auto industry today. How would it be different? Because we're fundamentally building the same product we made over 100 years ago. And so automakers is Daniel points at her committing tens of billions of dollars over the next decade to electric vehicle development. They're shifting a vast industrial and consumer ecosystem. There is so basic to the economy, this can do nothing but face big challenges. They said. The result, he says, the result of the share of new cars that wound up being EVs by 2030. Probably is going to be no more than 25%. If everything goes well. In any case, he talks about 2000 and eight and the first Tesla Roadster. He said. The time it looked like a novelty car, If you recall, I think it was a body by lotus and suspension, wasn't it? But he points out. It was also over $100,000. But here's how Tesla came to be. Five years earlier, a young electric vehicle enthusiast JB Stroble, had lunch with a guy named Elon Musk in Los Angeles. He was trying to pitch Elon Musk, uh, on an electric airplane. When Musk had no interest in that whatsoever, he switched over to electric car. The original idea championed by Thomas Edison more than a century ago. Here's the thing. Thomas Edison wanted great. A car for the masses. He's the one the first said that an electric car by the way. And here's electric battery was actually light years ahead of its time. Nothing like we have today, but it was light years ahead of its time. When he never got that electric car off the ground. Henry Ford, who would later become his friend stole his line about the car for the masses. Put it on his model T I digress. In 2000 and eight musk jumped on the idea. And some years later must said that without that luncheon that day, Tesla wouldn't exist Basically. That car was over 100,000 and it was a disaster. If you doubt that Google George Cloney comma Tesla comma type in the F word. And see if that car wasn't a disaster. That was a Reuters story by the way. In any case, the Nissan Leaf came out in 2010. It predated the Tesla. General Motors came out with the Chevy Volt. By the way, my paper talking about maybe hydrogen fuel cell cars might be a reality in 2050. But if you think you're bringing it to market and another five years that's not going to happen. Um, GM followed up that with the Chevy bolt with a B in 2016. In any case he talks about the V shift is, in fact picking up speed. The European Union's proposing tough regulations on carbon dioxide emissions from cars made or sold in Europe that effectively bans the sale of new cars. With internal combustion engines after 2035. That's right. You can dial down your mandate for missions out of automobiles, and you can make it where internal combustion engines can't perform that way anymore. California, Massachusetts of announced also dates they want to get rid of it. In Shanghai, China, They offer free license plates for if you buy what they call a new energy vehicle, an electric car. If you buy a gas powered car in Shanghai, you.
"daniel jurgens" 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 jurgens" 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 jurgens" 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 jurgens" 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 jurgens" 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 jurgens" 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 jurgens" 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 jurgens" Discussed on Bloomberg Radio New York
"And I would have the National Basketball Association to that list a cz well and Jonathan. I think right. There is the hurdle that Democrats and Republicans faces in terms of the mass education that would require for there to be a significant consumer sentiment shift. As it relates to several of these industries, whether it's athletics, entertainment or or our intellectual property, But just one more quick point that I would maybe there in terms of based upon my reporting, which is this is Just the first step on DH. There is three fold the amount of legislation that has been introduced in this Congress alone as it relates to China as it relates to raining them in on. We should note that from an economic standpoint just earlier this week, the Treasury Department issuing sanctions against the Chinese firm in Cambodia Which had been posing a CZ, a manufacturing company but ultimately was trying to design a military base. So the one about one road expansionary policies of China, whether it's in Africa or elsewhere around the world eyes now very much on the sanctions and restrict restrictions lists that the that the government the federal government is development. Kevin's really see in the next hour. It's every hour, Kevin so really our chief Washington Correspondent to go from Bill Ferries over national security to Kevin. So, really, we're pleased to tell you, David Kirkpatrick was a Facebook effect in one of our great technologist will join us here in a number of minutes were to squeeze in nearly Farage of State Street, head of macro strategy. And, of course, Lee Farage. I go to Daniel Jurgens. The new map, which is we're living in a new world. You and I never would expect. That they would rip something like we chat away with us on national security in all, how does that change macro strategy? Oh, I mean, I think from a macro strategy perspective, geopolitics is not being a focus of macro strategy for for 2030 years until essentially the Brexit vote. That's when the game changed. We had the Brexit vote and then see the surprise election here. You know, the rise of populism suddenly geopolitics, master, and now we've got this pushback against globalization that arises. You just discussed. This isn't just coming from Republicans. Democrats are on board with that as well. So, yeah, 20 years or so we didn't need to worry about your politics. Now we worry about that little else. Quite honestly. Willie, this is coming at a time of tech dominance for the tech stocks have been the absolute leaders and they also are at the forefront of the increasing tensions between the U. S and China. Looking at Apple shares premarket. They've almost given up all their pre market gains. On the heels of some of these headlines does the potential escalation of us China's tensions threatened the thesis of the big global tech stocks that have done the best? It does to an extent. Um, I don't believe I mean, I didn't believe anyone thinks that we will see a major trade war ahead of the election. Now post election It could get worse. But for the next six or seven weeks, it's probably likely to be a game or rhetoric than anything else. And I think The problem with the tech stocks as you mentioned. Listen, we've got a long way. I mean, evaluations are equity people might be other justify the moment Micros trashes. I looked at them and I struggle with it. You know, the NASDAQ is up 83%. Since the lows in March to its peak, it was 82% 64% up now now is that close to all time highs. All these shares all type eyes. We're in the middle of a pandemic. We're in recession. We have huge amounts from certainty. We have the election coming up. You know, the focus post election is going to be more on domestic I A D globalization trend. And yet these stocks continue to go higher, fueled by zero interest rates by the side access liquidity, extremely negative railways. And that's why these stocks go up. But then when you get the sort of levels the volatility is going to go up, and that's really what we've seen over the last couple of weeks is when you get these news stories. Now we're going to see volatility increased nicely. The next 67 weeks out of the election, we're going to see much more sideways markets much more volatile market evaluations have gone So far that that uncertainty now has to play into it or not saying well necessary. Start selling off aggressively because that liquidity is still down. We've got the ultra dervish message from the feds. Don't expect a smooth path up that we've been used to. For the last few months. This is going to get much more volatile. We've seen that shop in some of the last few weeks. Late apologies to keep this one short grey to catch up with you, as always, courage there of stay street in this market right now. Equity futures doing absolutely nothing Some, but I think many people will be with Aly going into the election. Things going get shopping. They have been for the last three weeks and the key determinant just to go away from the story before we get to David Curb actor John what Jim, Karen said is absolutely critical. How will this be expressed in the real yield in a negative 1.1? No. Any breakdown there to new territory would be to me a key determinant. I'll tell you at one Eastern on Bloomberg TV from the Oxygen Landa Good morning running our.
"daniel jurgens" 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 jurgens" Discussed on WLS-AM 890
"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 who've been hurt by the cove in 19 pandemic still need to commute to work in natural physical places will be hurt by increased gas tax is, for example, what would shutting down fracking due to gas prices? Shut shutting down gas prices, You know, but that type of gases of the best people they would go up and I think that's uh World oil market with Titan. 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 big benefit to American consumers is because of the shell 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 appreciate the time and all of your work by the despicable Daniel Jurgens work. He's a Pulitzer Prize winner back when the Pulitzer Prize actually meant you wrote good things, not bullcrap 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 of Hero show Trump set to hold a rally tonight in Wisconsin. News.
"daniel jurgens" 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.