Inside California’s Wildfire Fund: Who Really Pays the Price? – ENB Weekly Recap

In this episode of the Energy Newsbeat Daily Standup - Weekly Recap, Stuart Turley and Michael Tanner discussed Governor Gavin Newsom’s controversial new bill allowing California utility companies—such as Southern California Edison—to tap into the state’s $21 billion Wildfire Fund, half of which is funded by taxpayers. The legislation permits utilities to use the fund to cover wildfire-related expenses and even fines from their own negligence. Turley blasted the move as a “corruption-laden bailout,” arguing it protects utilities at the expense of taxpayers, while comparing it to California’s manipulation of federal health funds. Both hosts warned that under Newsom’s leadership, California has become a growing national security risk. 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 00:17 - Citi Says Russia-Ukraine De-escalation Could Impact Oil to $50, and Oil’s Surplus Is Here—But What’s the Real Story? 07:51 - Wind Turbines are Made by Coal and Are Not Sustainable 12:26 - Europe is the Biggest Loser in US-China Rare Earth Wars 18:38 - EU’s Climate Rules Have Caused a Response from the US and Qatar, Issuing Trade Threats 20:43 - The Permian Basin Reliability Plan will cost every customer in the ERCOT region 24:31 - Gavin Newsom Signs Bill Allowing California Utility Companies to Draw Funding from State Wildfire Fund 26:40 - Outro Links to articles discussed: Citi Says Russia-Ukraine De-escalation Could Impact Oil to $50, and Oil’s Surplus Is Here—But What’s the Real Story? Wind Turbines are Made by Coal and Are Not Sustainable Europe is the Biggest Loser in US-China Rare Earth Wars EU’s Climate Rules Have Caused a Response from the US and Qatar, Issuing Trade Threats The Permian Basin Reliability Plan will cost every customer in the ERCOT region. Gavin Newsom Signs Bill Allowing California Utility Companies to Draw Funding from State Wildfire Fund