Trump’s Energy Crisis Causes Food Shortages, Skyrocketing Prices, and Global Suffering. What’s Next?

Morgan and Daddy, thank you very much for doing this. We have searched far and wide for people who understand energy energy markets um the energy business uh and you came highly recommended. So I'm grateful that you're doing this. Where would you say we are globally with energy right now? Just give us the overview if you would. >> Yep. Um well to put a kind of a a a big perspective on things because people have been kind of um in living in a delusional world I believe in energy over the past 20 25 years the world gets 90% of its of its energy from hydrocarbons oil natural gas and coal it's 90% >> still >> still China Europe the US the last 10% is nuclear and a little bit of solar and wind and everyone talks about electrification of the world and uh putting solar panels up on your roof and all of that. That's you know going to be the energy transition as it's being marketed. Um that that is kind of a marketing pitch there. There has been additional uh solar wind uh energy generation capacity put in place over the last 25 years but that's been additional to that core undercoring 90% of hydrocarbons oil gas. 90% of energy in the world comes from >> oil, coal and gas. >> 50 years ago and today in 2026, >> same percentage >> same roughly. Yep. >> And the other 10% is nuclear and then what we refer to as renewables. >> Solar and wind. Yep. >> Wow. So solar and wind are not even 10%. Like what? So what%? >> Five 5% 5% globally. So five 6% and it depends on the country but on a global scale five or 6%. And you go back 10 years ago, it was around 5 or 6%. And so, >> wait a second, we spent trillions of dollars on this and received endless lectures about it and we're still only at 5%. >> Yeah. And in 20 years time, it'll still be 5 or 6%. >> Oh, so the whole thing was a lie then is what you're saying. >> It's it's there there's a reality to there. Additional capacity has been added, but global demand for energy is growing with global population. And the only energy source that's been able to keep up with that demand for energy globally has been hydrocarbons. And the three hydrocarbons are oil, a third of the world's energy, coal, a third of the world's energy, uh roughly, and natural gas, a third of the world's energy. And that that that realization is kind of I I have this idea. People say, "Oh, are we living in a simulation whatnot?" People have no connection with base reality. And the base reality is that we're still living in a hydrocarbon world. We have been living in a hydrocarbon world. It's enabled amazing civilization developments over the last 150 years. But people are disconnected from that reality and they think if you ask anyone, you know, how how does China get its electricity? People will say, "Oh, it's isn't it solar? They have the best solar industry and they have wind turbines and all that." No, 60% of China's uh energy comes from coal. Uh 80% of India's energy comes from coal. >> 80% of India. >> Yeah. Yeah. And they're growing rapidly and it's all coal. And so this holier than thou and I I can understand no one want even people that work in the oil and gas industry everyone wants to be environmentally conscious people live in the real world you know even people who work in the oil and gas and coal industry so no one wants to pollute but we also live in a world where you need energy to operate everything it's and not just energy you need plastics that go into everything uh you need petrochemicals that enable modern civilization and you know this is this is a very new thing The oil industry started here in P or down in Pennsylvania in 1859. So this is we 15 we're 150 years into the mass scale hydrocarbon world. And this world that we live in is enabled by and is paid for. Modern civilization sits on top of hydrocarbons 90%. And you get people especially in Europe which kind of annoys me. I'm from Ireland. I was born in Ireland. You get people complaining why is energy so expensive? and and even senior policy level and political leaders and they have no base level understanding of the reality of this is where we get it. They think it's we just put more solar panels. That's their answer to everything which is fine. You put up solar panels and that's great and uh you know as a an additive nice thing to have. Um but 90% of the world's energy comes from oil, natural gas and coal. And it has 50 years ago, it has today and it will 50 years from today. Well, that is so when you say that we are living in a kind of simulation, the simulation you're describing is one in which people don't know that. >> Correct. People have disconnected from where their energy comes from that enables everything, where their food comes from. Uh everyone talks about the fertilizer crisis because of the hormone shutdown this year. Uh fertilizer uh 80% of the world's food that's grown everywhere across the entire world comes from natural gas. natural gas because remember it's 30% of the oil to 30% n gas 30% roughly is coal that 30% of n gas that makes ura and ammonia and all of the fertilizers and if those fertilizers didn't exist it's in basically ammonia and ura or n gas in a bag it uses fertilizer if that didn't exist we would have uh we have say the world's population is 8 billion we could only support maybe two billion if we didn't have nack gas so not only is it the energy system >> wait what >> yeah there would be if you turn off net gas production, natural gas production. It's very closely, very similar to the oil industry. It's one/ird of the world's energy. Uh that produces nit nitrogen in the form of ura and ammonia. It is the essential uh fertilizer for uh growing crops globally, all crops. And with the hormone situation this year uh because you had a n gas production comes out of Qatar. Um you had a a disruption in in uh fertilizer production because natural gas is what produces fertilizer. Um that that's going to result in next year 2027. Usually there's a lag because crop cycles or seasons um that that lag is going to be one of the kind of the the more laggy effects of the Middle Eastern situation with Iran this year. But so it's not only energy, it's also food. And there's this the the simulation that most people in the world are living in especially in western uh civilization is that they have forgotten or just are not aware of the fact that hydrocarbons are nine out of 10 portions of the energy that they consume and for also for food all of the food pretty much most of the food that you eat today and it doesn't matter what kind of food you might say oh well I eat you know vegetables well that's also fertilizer goes into that as well. There's fertilizer used in every crop and all of the world's food is dependent on natural gas. And so we can go back to, you know, this why is natural gas used in in uh as a fertilizer? It was a a discovery in Europe in the 1910s was a the uh habbos discovery where you take it. It used to be uh back in the 1800s and this is why how all new this this situation is. Back in the 1800s, um, if you wanted to put nitrogen into a crop, nitrogen is one of the essential nutrients for growing any kind of crop pretty much. And, uh, you used to have to rotate crops. It's a very slow process. You put down tubers. And it was a very you have to do cycle by cycle. Every few crop cycles, you had to plant a nitrogen fixing uh, uh, to get nitrogen from the air and pull it into the soil. >> Otherwise, you would exhaust the soil. >> You would exhaust the soil within a season or two and your yields would drop down. And um this this discovery around 1910 you could take natural gas which is a hydrocarbon and when I say hydrocarbon it's these molecules contain hydrogen and carbon from amoeba millions of years ago or animals millions of years ago buried underground uh they basically with pressure and heat over millions of years it turns into crude oil or natural gas or coal one of these hydrocarbon fuels and um around 1910 it was discovered how to use uh natural gas um and you take the nitrogen from the air. Use the hydrogen that comes from the hydrocarbon of natural gas and you can make um uh fertilizer which basically you can put the nitrogen into the ground with a powders and things like that to uh as a fertilizer and it increased crop yields by five or six00% over time. Five or six hundred%. So everyone goes why did the population grow? Because cheap energy and cheap food because of natural gas. those two reasons. That's why how we live in this world today. And it it kind of it doesn't annoy me, but it it um disturbs me when people are are disconnected from that base reality. Base reality is 90% of the world's energy today and 50 years from now and 50 years in the past and and similar proportion of food comes from that hydrocarbon ecosystem. >> Most people don't like thinking about life insurance. It's one of those topics you tend to kind of put off. But if you're married, you've got kids, you've got people who depend on you, you probably should think about what would happen if you weren't around. And that's why we've partnered with Ethos. They've made getting life insurance super easy. You can do the whole thing online. You don't have to sit down with an agent or go through a medical exam. You get a quote in seconds, apply in just a few minutes, and in some cases, you get coverage the same day. You just answer a couple of simple health questions. You get up to $3 million in coverage. Some policies can be yours for as little as 30 bucks a month. So, it's a good deal. If you've been putting off life insurance because you thought it would be a very complicated, expensive process, you should probably check out Ethos. Take a couple of minutes, get your free quote online at ethos.com/tucker. Ethos is ethos.com/tucker. Application times obviously vary as do rates, but we think it's pretty good. So, you're saying if we were to shut down natural gas production globally, 6 billion people would starve to death? >> Pretty much. Yeah. And I was in New York yesterday. New York has banned drilling for that gas. The New York State sits on top of uh a field, a uh a uh nack gas field that runs right through West Virginia, Pennsylvania, the Marcelis, and Utica >> and the the names of the hydrocarbon basins. New York is New York City has uh if you look at go to Manhattan, New York, you'll see these big power stations, four big power stations on the the east side of Manhattan, those run on natural gas. And so all of the electricity for and there's a big one in Queens and a few others. But those big big power stations in Manhattan, they run natural gas. New York State has banned natural gas, drilling for natural gas. They sit on top of a huge amount of natural gas. They've banned it. They've also banned the pipelines to deliver natural gas, new pipelines. So they're cutting off their face to spy or cutting off their nose to despite themselves in that they're denying the fact that the reality is all of the electricity in Manhattan or New York City comes from that gas. But then they ban sourcing that fuel and they ban the piping of that fuel to the source of what turns on the lights. I mean that is absurd that the whole uh you know it's it's a distortion of what environmentalism is. Environmentalism should be you have a sustainable environment where you don't create negative consequences and pollution into it. But you you also have to be aware of there's you need energy to just to live in modern civilization and you need energy for food. You need natural gas for food and uh the uh it's enabled the food supply for people living in the west. luxury civilization is dependent on it and not just luxury civilization also the developing world China and India are similarly dependent there's no one no one's sneaking away getting a trick of uh uh secretly building the solar panels and and wind turbines that they're getting away with some magic there is no magic it is oil natural gas and coal >> it's it's interesting that the two wars in progress threaten the world's natural gas supply or a lot of it >> yeah 20% is out of Qar of the world's LG liqufied natural gas, >> right? Which is the process by which the gas becomes liquid. So, it could be transported by ship. >> Correct. You just cool it down into a liquid. >> It's it's the same fuel. It's just in a different form. >> Yeah. Yeah. And what's interesting about, you know, um in the US natural gas, the US is is produces around a quarter of the world's natural gas. Um the US I just looked at it this morning, the net gas is around $2.50. If you look at Asia, >> by what unit? uh per mm BTU it's like the gallon equivalent of natural gas but $2.50 50 and uh in Europe it's $31 the same unit and in Asia it's around $31 and it's basically that energy blindness of Europe um Asia has got a separate issue in that they use uh they don't use n gas as much as Europe does but the reason to say that the discrepancy between the US being a major energy producer and it has become so over the last 15 years before that it was the US was struggling up until 2005 2009 um but that disconnect between those who are truly energy blind. I mean I I was kind of mentioning Manhattan being energy ignorant if you will of what real based reality energy is. Europe is even doubly so they they're paying 10 times more for their electricity than the US is and it's primarily >> 10 times. >> Yeah. And and you get the you get these same situations where I'm from Ireland and I was reading you know legacy press over the last few months and people are confused about why is our they say in Ireland and similarly in all of Western Europe why is our electricity so expensive and I'm kind of shocked of the fact that people kind of go well you're paying 10 times the the price of natural gas compared to the US and the reason being is that Europe has they shut down a huge portion of their uh energy system for uh ideological reasons, not for base reality reasons. They've turned it down, turned it off because uh they kind of in an energy sense, they kind of hate themselves. And it's like self flagagillation of let's shut down all the coal plants. Let's sh shut down all the nuclear plants. Let's try and move off that gas and replace it with solar and wind which I'm not knocking solar and wind. They're good but and then they turn around and go why is our electricity gone up by you know 200% this year or 100% this year. And uh that there's a kind of a disconnect there. And um it's it's a it's it's amazing that that it it uh that just the level of of lack of knowledge of basic energy economics and this is because of political pressure from green parties in Europe like where did this come from this idea that you have to destroy your own civilization >> there there has been a lot of ideological capture there there has been a different movement I mean there's The environmental movement kind of started in the US back in the 60s. Um, >> can I just stop you right there? And just to be clear, our environment is disgusting. This country is much dirtier. Europe is much, much dirtier than it was 30 years ago. I mean, I visit a lot. I know. And so, there's no actual concern for the environment for like trees and cleanliness and keeping graffiti off your buildings and cleaning up your streets. Like, it is dirtier and the US is way dirtier. We've had unconstrained development. So, like none of this helps the environment. Just I just want to be clear about terms like no matter what they tell you. >> Yep. Yep. And so the original environmental kind of the modern environmental movement started in the 1960s in California. California had a real smog problem and um uh you had and legitimately had a had an environmental issue. lived in Los Angeles at the time >> and they the uh this is before the EPA existed as a concept or as an organization and in the 1960s California had an issue and they created the carb ca orb uh California area resource board and they clamped down on the amount of sulfur and other pollutants that were really in oil back then and they also removed lead from gasoline. Lead is you had been added to gasoline from the 1920s. It's a it's a neurotoxin. You know, lead is obviously and uh but it improves the octane of gasoline. But California was leading for legitimate environmental reasons. This is all a very uh good reason to kind of uh start an environmental movement and it started in California and it did really clean up the air in California. They removed they got ultra low sulfur diesel. they uh brought everyone had to put in catalytic catalytic converters and those catalytic converters um they didn't you know lead in gasoline did reduce IQ levels back in the when it was in the 1920s to 1960s or ' 80s and uh the lead wasn't removed because of that reason that's kind of the the dirty little secret of the uh the business is that it was removed because if lead damages the catalysts in the catalytic converter so anyway California did clean up its air in the 1960s and it was a cutting it was they were the leading uh edge of that movement. Um then EPA was established and there became a federal uh kind of environmental movement. Um and then but what happened was that movement kind of was then captured by uh political agendas and and uh social agendas and ideologies that were independent of environmental reasons. It became more of uh control of controlling how people think and behave. And so environmentalism is a good thing. and was a good thing and it had a good origin story and had a good uh impact in the 1960s and 70s in the starting with California but then over the past 50 years it's been captured by political movements that have wanted to uh have a kind of a controlling effect on society and some of the things you know and you can see it morph into over time back in the 19 in the the alts the 2000s you had a big movement against fracking remember you had that Matt Damon movie someone turned on the faucet and flames came out of the the faucet because of nat ass and that doesn't happen. I'm sorry. That that was a propaganda that movie and and myth and and but that was kind of when the fracking industry started. A portion of uh the US oil and gas industry started and um it was kind of a novel new technology. It is by the way the core reason US has become energy independent over the last 20 years has become because of fracking and horizontal drilling. But anyway, um if you fast forward it, there was the anti-fracking lobby and so all these kind of ideologies trying to stop different pieces of technology. Now it's the anti- data uh the uh data center lobby. So it basically there's there's a there's a stop oil uh group like what I I look at that group and I I think you know uh that's a death cult a so a social death cult because you remove you stop oil we all die. We stop natural gas we all die. And it's not just we in the west, everyone. The India and China, that's where we get all our food from, fertilizer. So all of these different movements have been about an element of control because there's there's a a kind of a feelood like who who is anti-environmental? No one. Even people work in the oil and gas industry. They love the environment. They they're just normal people like you and I. And but it's it's been a capture of that environmental movement has been captured by you know the the carbon capture you know the net zero growth in Europe and the in the UK all these countries have destroyed their economy under the opaces of taking care of the environment ignoring base reality of energy production and where all that energy really comes from and ultimately it's been about uh it's been the environmental movement has been captured by control people who want to control how you live how much energy you buy what your carbon credits are today, what your, you know, your your your your welfare uh check from the government to make you dependent on the government because then they can control you. And even in New York, I was talking to a friend of mine there yesterday in Manhattan and uh they get a $100 check from the government for um because their electricity bill was too high. And I thought, hang on a sec. Excuse me. The you got a what? And so every every taxpayer, I guess, in New York um get a $100 check. And meanwhile, they're banning pipelines that are bringing that fuel to New York. They're bring they're banning natural gas production, which is the fuel that's burned in those power stations. And natural gas is very clean fuel. And um it's it's uh the they're by making it dependent on the government by controlling or trying to shut down energy production, it makes even more dependent on the government. And uh so and Europe has been far more ideologically captured. And the reason for that is of course the centralization of power in in uh Brussels and the EU. People don't know who they're voting for in Europe anymore. They're voting for the blob in Europe. And uh you know if you ask your average person in Ireland or England or Ireland or France or or Spain um who their MEP is or member of the European Parliament, they have no idea. They you know they might know their local member of their local national parliament. But the blob in Brussels, they can get away with a lot of these kind of control uh especially of um how people consume and use energy. And the net result is they pay 10 times more for energy in Europe than they do in the US. >> So the bureaucracy of our banking system makes running a small business a lot harder than it should be. When entrepreneurs need capital, traditional banks drag them through weeks of red tape and paperwork. It's highly frustrating if you've done it. Working with Cardiff is totally different. Cardiff is America's favorite small business lender because it's built specifically for independent business owners who move at a very fast pace. Cardiff has loaned over $12 billion to small businesses across the country, cutting out the delays that big banks inherently put in the way. With Cardiff, there is no long wait. 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I mean everyone looks at Europe and says why is there no economic growth in Europe? because they've killed their they are killing their energy and industry >> and that means people don't have >> everything's expensive >> families they don't have houses they don't have >> expensive everything becomes expensive oil gas coal and it may you you you don't necessarily see the energy being produced that's kind of the the reason it's so uh uh dangerous for people to be energy blind is that um people don't see where their food comes from or where their energy is produced and so they just think oh things are more expensive everything Building a house is more expensive. Uh buying a car is more expensive. Uh everything it becomes more expensive. It just becomes part of the the background noise of living of life becomes that everything is a little bit more expensive. And the real reason is that energy in Europe has been has been deliberately made more expensive than it needs to be. And um there's one part of it is is control. Another part is you've got a um a kind of social agendas that have pushed energy blindness because people don't want you to know that 90% of your oil and gas or 90% of your energy comes from oil, gas, and coal. They want you to think it's solar and wind because you can kind of see those things, you know, spinning. And so it makes people feel like something's been done, but it's there's nothing being done. >> So what explain what you can't see. So let's start here. 10 years ago, Europe, let's just say Western Europe, the countries Americans vacation in, got its energy from where? >> Where did the Yeah. Where did the energy come from? From Germany, Spain, >> Belgium, France, UK. >> Uh, a third came from oil. And that oil came from oil is a global market. So, it's always been a global market. Um, it's and that comes from Russia, uh, the Middle East, uh, West Africa. So oil kind of comes from a little bit I mean it's it's it comes a little bit from everywhere. Oil that's a third of European uh energy 10 years ago, 5 years ago, even today 30% is oil global. Uh then they've got natural gas. Um Europe used to buy a lot of its natural gas from Russia. They famously built the Northstream pipeline across the Baltics uh to these two big pipelines. One never became active, Northstream 2. Um, one was uh destroyed in uh uh unusual circumstances, I'll put it that way. Five months into the Russia Ukraine >> and the US government took it out. >> It it made Europe uh uh dependent on the US um exporting natural gas. So it basically, you know, there's there's a theory, you know, one theory behind a potential, you know, situation where, you know, that was a very difficult operation for someone to knock out an undersea pipeline. Um, did Ukraine really do that 5 months after the war started? You know, they I don't know if they have the uh the skills to do something like that. So, I would say say it was the US just for argument sake >> and not Ukrainian. Well, just for the record, we were told at Fox News and the whole world was told that Russia took out its own pipeline because Russia is so evil that having run out of people to hurt, they decided to hurt themselves. They told us that. That was on the front page of the New York Times. I was encouraged to repeat that lie. I didn't. But >> yeah. Wow. I mean, that just shows you >> how stupid they think people are. >> I don't know if it's if it's uh stupidity. I think it's more of um that it's it's more of narrative setting. If you kind of set a kind of a dystopian view of information that everything is absurd, everything everything becomes you like you don't believe anything. Like there's no it's it's almost like they know you're going to laugh at that Putin would destroy his own pipeline. But then it kind of makes people who read that think, well, why do I believe anything? You know, it's kind of like a you sets people into this the the mush of believing being more malleable to to uh >> right they're turning the population into nihilists because they're nihilists are easy to to control. >> Yeah. But say it was but say it was the US government. Just let's put it put out there. Um and uh it did make uh Europe much more dependent on uh the US. And it goes back to also, you know, Trump uh we were talking this morning at breakfast is a very um has a very he operates in a very people say he's transactional. He's not, you know, in terms of he's not a strategically I think he's strategic also, but he's very transactional like a business. >> Yeah. He's not ideological. Yeah. And then but he's also very he's a very uh personal uh he he's he takes things personally and as he you know he's a normal human being and so he got he became president you know inspired by Seth Meyers mocking him back in the in 2011 at the correspondence dinner um when Trump won the first uh time he was president um you had uh Angela Merkel and all the European leaders openly laughed at him. They mocked him and uh when he told them he chastised t