is the language emanating from the is really military, which is doing the cleaning of the genocide laza. so this is why the and i spell it and obviously so is it. so right. we have to be heading out around as a broad habits are all the palestine chronicles. thank you for your insight in your time. and i'll be sure to get more details on our g dot com. so you again have some of the on the items to national by now the time actually understand, see and welcome back to going underground,

broadcasting all around the world from comp 28, host the u. e, which at the un security council has force the issue of a cease fire. i'm. it's the u. k. u, as a new nation backed alleged guys a genocide, while thousands have been killed in gaza near jerusalem. hundreds of thousands may be killed through excess debts in europe. this winter energy is i'll give you the keys and guys i'd call $28.00 and the o big plus meeting with gc countries plus russia. iran, venezuela, and others have so far, refused native nation close to pump more oil. joining me now from one of the world's biggest competent mississippi's new york city is abby ridge and on the head of global markets and research at energy intelligence and have drunk research scholar at columbia university center on global energy policy. is abby thank so much for coming back on. so we have north stream, we've had the saudi arabia refusing to buy more all along with their big plus members. and presumably markets already realize that the the

numbers killed in the winter in western europe will. we will be even more then in well, it will be more but it won't be even more that in the, in gaza. yeah. first thanks for having me. i'm certainly a lot going on be in the role of energy, you know, between your oil and gas markets. and, and of course, the politics kind of stuck in between all of it. you know, we're also, you know, kind of going through this rollercoaster, you know, within the year where you've had a pretty, uh summer, uh, you know, not just temperature wise, but in terms of demand and consumption and things are going to cooling off as we typically do at this time of the year and but you know, a lot of uncertainty, you know, looking to the end of the year and not gonna have to 2024 for sure. but yet there's no increase in oil prices. yeah, i mean, do you know what i mean, november a seasonally is, is always, you know, is typically any, not always the worst month for oil prices. so in some service i'm not depending on

who you are. of course who you are. yeah, i do the best of the products. yes, it is always a, you know, a tough month to get the price to go up. it's typically a month where the price goes down and there's always some drama. you know, it's not always the usually some drama with below, but plus heading into thanksgiving weekend. so there's that as well. but all those countries that didn't want to cease fact, any confident that there wasn't going to be a wide conflagration that would effect oil prices. i mean, they were confidently saying we don't want to cease fire. all these children are dying, it's fine, they're all being killed in terms of its effects. boomer, i'm impact on the economies of western europe and the united states. yeah, i mean the, the, the, the conflict of the situation is, is obviously, uh, you know, pretty, pretty dire and tragic in many ways. um, you know, since the early days, you know, after october 7th, so we were looking for is,

is let me just mention which is, you know, the possibility of, uh, an expansion of the, uh, because like, you know, pulling in other countries. boeing in, you know, has a lot of dental or the item pulling into iran in particular directly to the conflict with israel, the, but also we do have relate to some of the other countries in the, in the regions. i know that never happened. right. and, you know, as every week went by, there was increasingly clear that you know, you're wrong, wiley may have been indirectly involved in sparking the conflict and indirectly did not want to get involved. and even with the others, you know that, that, that never really, you know, have um, uh, gotten worse. um and even, you know, even be able to us and other, you know, have these really allies were pretty keen on keeping their, on a particular out of it. as of pros applies to apply, we haven't really seen much of a disruption. you know, there was obviously that kind of the initial concern and worry and spicing oil prices, the quickly evaporated. and then we're kind of back down to, you know,

to different on the members. even though it was a big fan. i mean, obviously the conflict began decades ago in, in the 1940s. but it was a clearly that the iran, which i'm denied any involvement in october 7, said the they, they could be a big in. but i mean, i sort of senior israeli officials are quoted as saying israel once in the usa, to diplomatically work the pressure as well. to with drawer, it's a troops from the red one unit on the, on the outskirts of the golden heights. clearly the united states, i don't know what connections they have with as well. but clearly, iran was the big energy factor here as the energy factor uh, again with you is, uh you want every side, you know, kind of want to stay out of it and not really get involved in any kind of escalating the crisis. and that, you know, and that should be around the oil prices that they kind of call the market down even just kind of from a, you know, from the standpoint of equity markets and other markets over a little bit,

you know, an easy, but the costs are in the beginning, but everything just to come down and then they obviously saw, you know, sort of desolated in any way, but it has not, you know, kind of become a broader regional issue which is what we were looking for to see there was actually going to be your supply impact, but if it hasn't had an impact directly on the, on the groves of the brand and 9 mix it over the dead bodies of these thousands of children by the incentives, the energy security advisor, aimless hochstein to israel. while this was happening, i mean, i mean one way i go to as why, um, uh, the united states as one hi, royal braces because it isn't that exponent. but in another way, well let's was he doing there and why with the is there any papers talking about tons of in gas in gaza while we were watching the pictures of all of these murder children? yeah, i mean look, i mean, i think she, you know,

i think there are those oil and gas, you know, kind of issues or play from the, you know, from the us standpoint, the focus, you know, has been on to keep things. one is not letting the situation escalate and finding, you know, sort of offer as findings and you know, some middle ground where hostages and other things to be giving you the shaded us that, you mean, you know, ask, i obviously is escalate it because every day you monitors more children were being killed, you mean not escalated geographically. it was contained within the 2000000 people living in the message, gaza strip. right. and i also try to find a way to kind of come up with, you know, with, with, with some ways to address the civilian casualties. this relation address, often situation as it's defined, somewhere around from, from all sides. and i think the 2nd point is directly the energy, right. i mean, i think this, this administration is, is very, is hypersensitive about energy prices because of the general and then the presidential election. you mean? yeah, exactly. you know, i'm, you know, it's, it's holiday season. you know,

a lot of folks are traveling is, is going to $400.00 units out of the year. so there's that. and then of course, looking at the grade $24.00, right? we don't want, you know, we don't want us to turn into a big, you know, brought original issue and then you have a 100 and hundreds. and so, you know, it's every dollar oil prices like you had last year. you know, when the rest of your big conflict 1st broke down so. so definitely want to avoid that. that was interesting is when the world started in the supply destruction on the natural gas side, as you did right the is 0 to down to tomorrow, feel that i had a, you know, how does that do egypt? and then i know other areas i'm going to, that was another thing that's kind of been, you know, approximately reversed and, and in recent weeks. and that was also part of the, you know, part of the, the, the discussion, you know, part of the, the focus your mind just where this ellen g comes from a process through israel and they shut it down after october, 7th to egypt as the, as an officer deal uh off of it off of israel. so i guess as an israel,

some of it actually goes into egypt, which gives we export it out and we just don't wanna give since you domestically yet and solve it gives we export it out then. so that would shut down for a couple of weeks and then you know, is now back on. so that was also part of it. why, why does egypt the d, n n g off of the it goes to palestine or israel, where the occupied territories kind of headed elsewhere. why is it collaborating so closely with a government video on paper? and they say they disagree with the edge cause of genocide about yeah, i mean, why don't, they can't really get it anywhere else. it's you. yeah, this is a product that was kind of, you know, code developed and co commercialized in an easy, it was an outlet for the gasket and developed, you know, huge it was, it was kind of an outlet for her getting that a gas, you know, a home you know, through elegy exports to, to europe and other sources or so you know that, that, you know, it was kind of a commercial business decision that,

that came out over many years. uh, and you know, and, and run. and we're gonna see what was your point. i know obviously there's this kind of this big pushback or i guess the, you know, kind of the, the civilian situation and got a, we'll see what the future of the laser looks like. yeah, it seems strange to me talking about uh, oil revenues, future revenues which is reported and is really big press from energy resources given there. are people probably dying? can i children dying tonight because of the cold in guys who gone to heat from their homes? what exactly is the extent of energy reserves in this area where people can hate themselves tonight? i mean, uh, is it uh which one even hundreds of millions of dollars with billions of dollars worth of gas from gaza. i mean, you know, to reserve your reserve standpoint, there are millions of dollars, uh, gas there. i think the likelihood of it any time soon getting commercialized. right

. you know, you kind of have to go through the process of bringing in an operator as it'd be interested in developing these resources, you know, figuring out, you know, the, the partnerships, the revenue sharing with, you know, local government, things like that. all of that. and you know, seems like, you know, a very, very distant type of potential situation. i mean vps rece, rucker how to so reports about b p's, the lease on the expiration rights. i understand. yeah, this is a run out. i mean that's the thing, right? yeah. the, the, the producers, the operator is you don't need to cause the political stability they need to, you know, see a security situation that's stable. they're not, you know, is obviously now if things are, you know, quite a messy but you know, they're not good. they're not likely to kind of he lives remember, why is it, why was this guy being sent? and then a most hawk stein. i mean, he worked in texas gas my markets,

you'd expect proper diplomats to be visiting israel ad to discuss the ledge of genocide, not oil people. the main um energy advisor to the by the administration being sent to mid, slowly, uh, all the killing. what, what was the last 4 of them as well as yours is the diplomat. the know has gotten quite a few deep relationships in the region. he's been in the region and worked there many times and this ministration over the last, you know, couple of years, you know, and then even kind of creating the ministration. you know, he's been there and he's got, you know, kind of a relationship, you know, pretty advisor at all. but he's spent, there's going to be a much, i'm inside the room. yeah. you know, did you're buying in the amaris and then other car so, you know, so leveraging those relationships, you know, and again, trying to make, you know, a, i think it's less about energy and more. uh, i'm trying to find some offerings here to the situation. is, is role and of course,

you know, there's, there's an energy piece to it as well. you know, given that this, this options are there where mine or are they getting is really kind of warranty of the security uh, you know, and then stability side. um, so yeah, i mean, you know, from, from, you know, from the american standpoint of sending emails there, you know, kind of makes sense and, you know, given the, you know, energy is pretty, you know, tied into this whole situation in the region. the, some of the expertise does all be rejected, and i'll stop you that more from the head of global markets in research at energy intelligence. after this break, the, the release of russian states never is as tight as i'm one of the most sense community best ingles, all set and set up the

must be the one else calls question about this, even though we will then in the european union, the kremlin yep, mission, the state on the russians cruising and split the ortiz full neck, keeping our video agency, roughly all of band on youtube. the senior said this was what question did you say to stephen twist, which is the society of, to your credit accounts? offensively, you know, it was a fine you, the other rushes serious souls, probably lucian's on the, on the west, on ukrainian side, issues about their own strength, illusions about strength for the russian opponents. basically the, you know, the care to rush or, and you crying was an adult,

i just had to be kicked in and the whole structure would come, come sometime in the end of those solutions. have been shocked with the welcome back to going underground. i'm still here with the global markets and research and energy intelligence, ivy ridge, andrew and ivy. we've been talking about the conflicts getting bigger in that might say affect energy prices, which it hasn't sofa does not mean that given the in the lebanese context, we've heard the iran say, well, it's up to 11 and what it wants to do. the control of energy markets in a sense, across the well, depends on what happens in south lebanon. yeah. you know, we, we, we do really, we're talking about this briefly before. i think that is, you know, sort of your, your a spar to a, you know,

potentially bigger consulate. right. and i think obviously from, you know, us or israel or, you know, allied side they don't want that. but it doesn't really seem like the, you know, the, it has bella and, you know, the, the, you know, in directly through iran side, really watch that either. we've been watching this closely for, you know, for, you know, nearly 2 months now doesn't really seem like there's any sort of, you know, internet, you know, mobilization to a bigger with right now the, by the ministration certainly hasn't been happy about previous opec plus meetings and to the blinking, being sent to beg, a saudi arabia to increase production and so on. we had expected the oh, big plus meeting. and this week what these things behind the postponing of the, such an important subject critical opec plus a meeting. and it will be in around the time of cop $28.00 as well here in dubai. yeah, interesting timing. the meeting are getting delayed to the start date of, of, of cop 28. so that's the,

obviously we're going to be interested in classroom messages by the time, be strongly cutting. production is good for the environment as well. and, but also have issues, you know, as a, not effect on prices and inflation. and, you know, an investment in that new energy, right? so, so again, it does have both ways. the plus look, i think the, they have the 2 key, you know, messy issues to work through. the 1st is the, you know, salary, right? yeah, it's kind of taking the burden of, of, of cutting on behalf of the group. you know, disproportionately, while that has happened. i know you had one, you know, some, you know, some pretty unreliable lies from russia, which is the, you know, the, the other big coffee that matters. you haven't been wrap up in production from the wrong. uh and yours kind of a slow, steady ramp up from the, you know, pretty obvious when you're analyzing this, where do you get the figures from?

because as you imply there, there's a grey market now for oil ever since the south sanctioning of european governments in the sanctioning in the united states. have you ever seen the statistics in such a malays as we may right now when it comes to oil production, oil, transportation, oil services, generally given? no one seems to know who's selling, who's buying, and what price they're buying and selling a. yeah, so i mean, we are, you know, we're one individual, secondary source of the packet and the energy intelligence. you know, we and we've got it in over a 100 bucks or boots on the ground. we've talked to the reader a shipper as other folks who are in the oil industry in or from india and. and so we try to piece together a lot of the story ourselves and get our own full way. lean secret meetings by the dark side us because they kind of say the services, right. and we've got those on the dock side or we can pick up the phone and call with the, you know, on the ship. so we can do the phone and call you guys most,

you know, it was, i mean, the 1st floor you know, for these sections and price guides and things like that, who are, who are contract. so. uh so it's probably easier to do uh, you know, a great job, you know, handing up as much information as they get rid of it. as you mentioned, there is a gray market. there is some of you know, basically in, in the information, but we try to piece it together as much as we can. we, you know, we produce monthly stops on retrieve production, exports. you know, we, you know, what we see is, you know, kind of remarkable in a black market type of volumes. so we try to account for all of that into our intelligence right into our, you know, kind of our, our bigger picture, logan, what's going on with markets in terms of, of supply demand prizes and whatnot. and this is actually and review this into a back itself is, is a lot of the invoice that they use when they go into big decisions like this. and, you know, i think from what they're seeing, it's kind of in line with all we're seeing is that there's a lot of, you know, kind of, you know, choppy compliance. there's a lot of, you know, you know,

countries that are, you know, wrapping up production. you know, there's some cheating here and there, and that's, you know, part of the develop. so there's going to have to be some official production cuts and now so the next up x plus meeting, given this environment, i would say uh in our attachment, easy, no, officially we have official pricing cuz now i think we were gonna have to, was the a better focus on compliance and we're going to review some of those producers that have, you know, that have been volumes as all your reviews taken away volumes back into the market . and i think the 2nd piece is, was, which was the dimension was, was, you know, so it was more or less countries. i'm not pushing back on their production quarters . they're saying is too low. it needs to be higher. that's another piece. you know . yeah. these are smaller are members to, it's not the big ones. that's another thing that needs to be addressed at this meeting. but, you know, there's really, really isn't a, as i radio taking the, you know, the burden of this production costs. i mean, you're kind of rain, is somebody's producers that are, you know, kind of doing the wrong thing,

you know, otherwise, you know, sort of threatening that, you know, that they're running on one of their thoughts and then everybody loses with lower prices as a result. because saudi arabia, very vocal about calling for an alms about go against israel, and a goes the amount of military weaponry and so on, in the east mediterranean using vital energy resources must have some kind of impact, doesn't it? to the largest ahmad isn't history. one of them vitamins sent to re submitted, draining all these wall plains, aircraft carriers, military equipments, and the ends of the south china sea. isn't that affecting energy prices to as well? i think the answer to the rest is not really uh, basically not at all. i think the obviously, you know, there is this, you know, there is this big, you know, kind of push back against, you know, the, the, uh, you know, these really response and the situation advisor. but at the same time,

i think there's a lot of them in the back showing going on within the, you know, the idea of world. but also, you know, kind of, you know, maybe through the other sources you know, between the west and countries like so, the radio in particular was sort of registration from getting worse. and then finding all crimes to you know, to, to, to maybe, you know, you know, the, it's unlikely that you know, some permanency as far as when that happens to be time soon. but, you know, police, we have some, you know, some, some, some temporary ones that are getting shipped now to, you know, to, to sort out hostages and things like that. so i, yeah, sure, sure. you know, there's a, there's a question, you know, army, israel, and these are type of more, you know, more broadly. i think the concerns of continuing the situation and not letting it get you know, to the original conflict. i think many people might have been surprised by how quickly the off to bite and said no, it's the stream would and, and stop. and of course, it was destroyed allegedly, by the bite and immunization,

we saw l. n g terminal start popping up in western europe so quickly. we know hundreds of thousands of people poor people die in western europe. uh, in terms of excess debts. do you think of the united states we filling in that gap on the l. n. g to stabilize prices of this winter for west and you're, the united states has been the number one because the gas for, for, for missing gas line was for, for your you know, over the last couple of years i should be known back even predating be the rest of the rangers in europe out of gas prices back in 2021 services bracket gas. right? from texas. right. yeah. oh. and from violation. yeah. come up to and he talks about yeah, you know, for, for the most part of the shell gas, he has a few to for actual gas. but, you know, this is, this is what your needs. and then despite, you know, some of the gas being filled from the us and, you know, maybe some color and other sources. you know, you're more broadly,

but certainly in particular. and countries in germany continues to the industrialized idea. you know, they have massive issues in, on key industries like i'm a goals, agriculture, fertilizers and in other areas. because even when you know somebody, the, the gas gas being feel they are short of energy or they're finding energy that's too expensive. just take that scale. you know what the shouts government says they say they're doing fine, the coalition and of itself, the sanctions a was a great great policy of to the ukraine conflict. now winding down, i'll give you the yeah. the shows government the government these days. so i just looked at my vision when people, uh, you know, make a decision on that one ends and the so you, so you're saying that things are going to be really tough. and on western europe, given the decisions that'd be making unless they change the sanctions policy and

then yeah, these are going to be jobs. i mean, you know, as always, you know, especially in winter seasons. it kinda depends on how cool the winter is. you know, you're up, i know kind of got off with a relatively easy winter last year, but that's, you know, every year it'd be different this or bad, you know, i mean, you know, i mean, you know, as well or, you know, kind of extreme weather uh, attacks, you know, that i can kind of change things so, so you know, is, is still kind of an uncertain place. yes. they have basically full gas reserves, right. are your gas inventories, but you know, but you know how that works. you know, in a couple months, you know, in march, april, you know, movie a key to one to watch. so if it's a very severe winter, can your organization estimate how much the sanctions are having in terms of effects, how many people are being killed effectively in west, in europe, by the sanctions? if it has a severe winter top number to come by or europe has

a cold winter this winter, i think you'll be ok because they do have to kind of inventories that are or, and beyond even, you know, kind of normal which are low. so i think this winter will be okay. i think the, the question then becomes, is the best to draw it out of the inventories again, you know, into the spring months. you know what, what part is that, how for, for them next year. again, you all have to go back and buy expensive gas, expensive l g m, for us, you know, or, you know, kind of keep those manufacturing and other sectors needed. you know, not long demand to come back too much to, to be able to maintain, you know, supply. and just finally, the expansion of a v, electrical vehicles, we expect a massive mining expansion of minerals that help help put in power in the batteries of all these electrical vehicles in the global south in africa and latin america. and so to see these are happening in the, on the left vocational role, letting y you're investing, uh, you know, a little bit of a, uh,

an adjustment process. and the adoptions are for, for the these reviews you're going to try, who's doing better than expected europe is doing a bias, as well as expected in terms of is easy adoption. but the biggest armada in the world of us is going much lower than the many expected. as a result, we don't have we barks in the electric world. and because of that, a lot of no prices for somebody's metals and minerals and in other materials that you mentioned have come down quite a bit lithium graph. i, you know, cobalt and other things you know. and do this kind of is realignment going on the demand supply side, i guess you will need a lot more money and you're, you're gonna need a lot more extraction processing, you know, for batteries and other inputs into reviews for the next, you know, data decade and beyond, as these prices come down, that it has an effect on the, the timing of why things get pushed out of delay. but it also has an effect on

maybe, you know, spring demand a little bit because price or lower cars are cheaper than they were in or year or 2 years ago. so we're going to kind of do this kind of miles play out over the next several years. i mean, you know, they were finding generally that, you know, easy adoption curves are going about as well as we expected. but uh, you know, overall, but that's lower than many the, you know, we've kind of address some of the line you for. but once you've got to get into mass adoption and you know, that gets harder just because of all the kind of the, the, the consumer problems. there's other things that you have to work through. so, so that's kind of where we are with, with, with the these will be a key thing to watch in the next couple years savvy ridge engine. thank you. thanks for out of me. and that's over the show will be back on monday to talk to the u. s . government for the chief economist of the department of agriculture, joseph global, about why hundreds of millions is still facing a food cries is in a world full of food. and you'll then keep it that's 5 or less social media. if it's not offensive in your country and i do i channel going underground tv, hon,

they'll come to us new and old episodes of going underground. see you monday, the look forward to talking to you all. that technology should work for people. a robot must obey the orders given by human beings except we're so shorter is a conflict with the 1st law show you live in to the patient. we should be very careful about our professional intelligence at the point, obviously is to great trust rather than to the area. i mean with the artificial intelligence, we have somebody in the team and the robot must protect this phone. existence was on the

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