Why Valero Said No Is Good for California

In this episode of Energy Newsbeat Daily Standup, Stu Turley and Michael Tanner dive into California’s escalating energy crisis as Valero refuses a massive taxpayer-funded bailout, exposing Governor Newsom’s failing net-zero policies. They highlight global pushback against renewables with Belgium’s latest wind project rejection, discuss widespread oil and gas job cuts and industry consolidation, analyze Ukraine’s attacks on Russian pipelines and their geopolitical ripple effects, and explore the long-term risks of collapsing exploration capital among oil majors. The show wraps with market updates, leadership changes at SM Energy, and previews of major upcoming interviews. Subscribe to Our Substack For Daily Insights Want to Add Oil & Gas To Your Portfolio? Fill Out Our Oil & Gas Portfolio Survey Need Power For Your Data Center, Hospital, or Business? Follow Stuart On LinkedIn: https://www.linkedin.com/in/stuturley/ and Twitter: https://twitter.com/STUARTTURLEY16 Follow Michael On LinkedIn: https://www.linkedin.com/in/michaelta... and Twitter: https://twitter.com/mtanner_1 Timestamps: 00:00 - Intro 00:16 - California in Talks to Pay Hundreds of Millions to Valero to Stave Off Refinery Shutdown 03:47 - Belgian Wind Project Vetoed; Global Total Of Renewable Rejections Hits 1,104 Job Cuts Rock Global Oil and Gas Sector 12:08 - Ukraine Strikes Russian Pipelines, Fuel Supply Hit Hard – Do they even want Peace? 14:34 - Peak Oil Production? Oil Majors’ Exploration Capital Tumbled Since 2013 21:53 -Market Updates 24:12 - SM Energy CEO Transition 27:39 - Outro Links to articles discussed: California in Talks to Pay Hundreds of Millions to Valero to Stave Off Refinery Shutdown Belgian Wind Project Vetoed; Global Total Of Renewable Rejections Hits 1,104 Job Cuts Rock Global Oil and Gas Sector Ukraine Strikes Russian Pipelines, Fuel Supply Hit Hard – Do they even want Peace? Peak Oil Production? Oil Majors’ Exploration Capital Tumbled Since 2013