Capitol Crude: The US Oil Policy Podcast

Nigeria's Dangote refinery, built at a cost of $20 billion and is Africa's largest, has started exporting naphtha to North Asian markets at a time when the clean tanker market is witnessing prolonged firmness. The naphtha flow from Dangote is adding to the ton-mile demand in the clean tanker sector and this could be boosting the clean tanker market in the short- to medium term.   Associate editorial director for Asia Freight, Pradeep Rajan, discusses about West African naphtha flow and its impact on the clean tanker market with Sameer Mohindru, senior editor, Asia clean tanker market, and associate editor Zoey Ng, who covers Asia naphtha market.

Economic power-house China has set out 10 targets for 2024, which is pro-growth for oil demand, keen on energy security, and prioritizing accelerated industry modernization and development of new productive forces. In this episode of Platts Oil Markets podcast, Managing Editor for refined oil products, Wanda Wang has invited China experts Grace Lee, Asia analyst from the AltView team, Sijia Sun, Associate Director, China Oil Market, and Oceana Zhou, Oil Market Specialist, to discuss the oil-market related highlights following China's “Two Session” meetings -- the biggest annual political gathering in the country, which happened over March 4-11.

After several great years, Capitol Crude is coming to an end. We want to thank all our listeners for tuning in and supporting us over the years. Going forward, you can find Jasmin and Kate contributing to other S&P Global Commodity Insights podcasts, including Platts Oil Markets, Commodities Focus, and Future Energy. For our last episode, American Petroleum Institute President and CEO Mike Sommers joined the podcast to give the rundown on the policies and rulemakings that could have the biggest impact on the oil sector. He also shared how the sector is coping with the elections frenzy and how who ends up in the White House for the next four years could shape the industry's future.

The Environmental Protection Agency last April pitched its strongest-ever limits on greenhouse gas emissions from passenger cars and trucks. But reports have surfaced that the EPA may be planning to soften that regulation. Dave Cook, senior vehicles analyst with the Union of Concerned Scientists, joined the podcast to share why he believes any weakening of the car rule would be a bad idea. He pushed back on critics' assertions that the proposal was unachievable and gave his take on the importance of vehicle electrification for meeting broader climate goals. Stick around for Chris Van Moessner with the Market Minute, a look at near-term oil market drivers.   Related content: AFPM latest to launch lobbying effort over new US EPA emissions standards EPA sends auto emissions rule for White House review, signaling progress toward final rule

The US Department of Energy in late January hit “pause” on its work issuing key LNG export permits. About 30 million mt/year of probable export capacity additions in the US and Mexico are at risk because of the permitting hold. Climate activists have celebrated the White House decision as a massive win, while industry groups have warned that it could endanger future LNG projects and undermine the role of the US as an LNG exporter. But Arvind Ravikumar, co-director of the Energy Emissions Modeling and Data Lab and a professor within the University of Texas at Austin's Department of Petroleum and Geosystems Engineering, believes this is the wrong debate to be having. S&P Global Commodity Insights Americas LNG reporter Corey Paul caught up with Ravikumar for the podcast. And Ravikumar shared his perspective on the way we should be thinking about the future of US LNG exports. Stick around for Jeff Mower with the Market Minute, a look at near-term oil market drivers.   Related content: We are having the wrong debate about Biden's decision on liquefied natural gas: Arvind Ravikumar White House declares pause on key US LNG export permits, policy review US producers tout LNG growth outlook despite regulatory uncertainty US Senate weighs long-term impact of Biden's LNG permitting pause (subscriber content)

Under settlement agreements with environmental groups and Colorado, the Bureau of Land Management is taking another look at that the Uncompahgre Resource Management Plan, which guides the management and use of nearly a million acres of public lands and mineral estate in western Colorado. Among the amendments it is considering to the Trump-era plan are alternatives that would reduce the number of acres open to oil and gas leasing. Melissa Hornbein, senior attorney at the Western Environmental Law Center, joined the podcast to discuss the RMP amendment process, including how it came about and what environmental groups want to see happen. She also gave her take on how the interests of the oil and gas industry are weighed against conservation goals and what a change in administration could mean for the RMP process. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

Threats to the flow of crude supplies have worsened in recent weeks with oil and petroleum products tankers among targets struck by Yemen's Iran-backed Houthi rebels. Foreign policy and international energy specialist Brenda Shaffer, a professor at the US Naval Postgraduate School, joined the podcast to discuss not only the latest developments in the Red Sea but how we got here. She spoke about the Houthi rebels' origins, their impact on global oil supplies and prices, and the US posture towards their sponsor – Iran. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.   This podcast was produced by Jasmin Melvin and Kate Winston in Washington. Learn more about our guest speaker: Brenda Shaffer (@ProfBShaffer) Related coverage: US, UK sanction four top Houthi military officials involved in attacks on Red Sea shipping Conflict with Houthis likely to get worse before it gets better, experts say DOE eyes SPR purchases into summer driving season but door also appears open for drawdowns

The ethanol industry is angling to be a bigger part of the US decarbonization strategy, but so far, the Biden administration has sent some mixed signals on the issue. For instance, the Treasury Department has made some policy decisions that could provide some big opportunities for ethanol, but the Environmental Protection Agency is slow walking other policies the industry has called for. Brian Jennings, the CEO of the American Coalition for Ethanol, joins the podcast to discuss the administration's recent policy decisions, and outline additional actions the industry is seeking. Stick around after the interview for Jeff Mower with the Market Minute, a near-term look at oil market drivers.

The Biden administration in December signed off on a plan to conduct the fewest oil and gas lease sales in history, with just three auctions in the Gulf of Mexico planned in the next five years. Now, oil and gas companies are changing their bidding strategies to scoop up leases when they are available. George Laguros, a technical research principal with S&P Global Commodity Insights, spoke with Starr Spencer, senior editor for oil news at S&P Global Commodity Insights, to discuss the recent lease sale, and what might be next for leases after the election. Stick around for Chris van Moessner with the Market Minute, a near-term look at oil market drivers.

According to S&P Global Market Intelligence data, oil and gas deals topped $271 billion in value in 2023, more than doubling the value of deals made in 2022. Bruce On, EY's energy strategy and transactions leader, joined the podcast to discuss this wave of consolidation, whether it will continue and just how the oil sector is managing to pull off these deals in uncertain economic times. He also gave his take on how the surge in dealmaking will play out and the role politics could play as the US gears up for a major election. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

In October, the US agreed to ease sanctions on Venezuela in exchange for progress toward a fair election next year. But Venezuela has not fully held up its side of the US sanctions deal, and now it is threatening to annex the oil-rich Essequibo region of neighboring Guyana. David Goldwyn, president of Goldwyn Global Strategies LLC, joins to podcast to discuss the status of US sanctions on Venezuela and what comes next. Stick around after the interview for Starr Spencer with the Market Minute, a near-term look at oil market drivers. Capitol Crude is taking a break for the holidays. We'll be back with new episodes in January.

There are more than two dozen cases filed by US cities and states pending, with allegations that Big Oil knew about the dangers of burning fossil fuels and actively hid that information from consumers and investors. Lauren Varnado, an oil and gas trial lawyer and Houston office managing partner at the law firm of Michelman & Robinson, joined the podcast to talk about this new form of climate litigation and its impacts on the oil industry. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

Heading into this winter, relatively mild weather is forecast, but utility regulators have warned that an extended bout of extreme winter weather could stress infrastructure and present problems once again. Though progress has been made enhance winter preparedness, the interconnected nature of the gas and power industries remains a key concern. Jose Costa, president and CEO of the Northeast Gas Association, joined the podcast to discuss the gas and power interplay. He spoke with S&P Global Commodity Insights reporter for The Energy Daily Tom Tiernan about infrastructure and pipeline capacity issues compounding the challenge of gas and power interdependence, NGA's role in helping to aid gas and power sector coordination, and efforts underway to both reliably and affordably meet energy needs beyond just electrification, including gas transportation alternatives, geothermal pilot projects and other solutions that will require natural gas to remain a part of the fuel mix into the future. Stick around for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

The climate impact of fossil fuels is in the spotlight as world leaders prepare to head to the COP28 climate negotiations in the United Arab Emirates. Environmental impacts arise from many steps in the oil and gas production process, including the underground mapping that must be done before companies can drill wells. The seismic survey process requires tree cutting that can fragment forests, as well as equipment that emits greenhouse gases. OptiSeis Solutions is a company in Canada that is developing a new technology that reduces the environmental impact of the seismic survey process. Andrea Crook, the CEO of OptiSeis, joins the podcast to tell us about the technology, which can be used not only for oil and gas development, but also for geothermal and carbon capture and storage. Stick around after the interview for Jeff Mower with the Market Minute, a near-term look at oil market drivers.

With this year's elections barely in the rear-view mirror, the 2024 US elections are just one year away. Already, there are questions about how energy policy, climate change and prices at the pump will play into this election cycle. Capitol Crude spoke with a Democratic and a Republican strategist for their take on these issues. Last week, Antjuan Seawright weighed in with the Democratic perspective. And this week, you will hear from Tom Hassenboehler, who discussed the GOP's thinking. Hassenboehler is a partner at CO2EFFICIENT, a Washington DC consultancy that specializes in energy and environmental policy. He joins the podcast to talk about the role that climate change and energy prices play in elections, and the chances that Republicans and Democrats can find common ground on energy issues. Stick around after the interview for Starr Spencer with the Market Minute, a near-term look at oil market drivers.

It's November, and that means US elections are just one year away. But how will energy policy, climate change and prices at the pump play into this election cycle? Capitol Crude spoke with a Democratic and a Republican strategist for their take. We're going to present their views over two episodes. First up this week, you'll hear from Antjuan Seawright for the Democratic perspective, and Tom Hassenboehler will be on the podcast next week to weigh in on the GOP's thinking. Now, Seawright is a CBS News political contributor and Democratic strategist as well as founder and CEO of Blueprint Strategy, a political consulting firm based in South Carolina. He joins the podcast to talk about environmental justice, bringing balance to the energy transition and whether recent turmoil in the House could have more voters turning blue. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

Capitol Crude and Energy Evolution join forces to co-host today's episode, all about artificial intelligence being deployed in the energy and mining sectors. This week's guests are some of the journalists from the S&P Global Commodity Insights newsroom who worked together to write an expansive series of articles on the impact of AI. The pieces look at predictions around how much electricity demand AI will generate, the ways AI is improving productivity, resource discovery and trading, and more. In addition to the co-hosts and regular contributors to Energy Evolution, the podcast features Commodity Insights reporters Jared Anderson and Kip Keen. Stick around for Chris van Moessner Spencer with the Market Minute, a look at near-term oil market drivers.

Some 50 years after the 1973 Arab oil embargo, the oil markets are again bracing for potential disruptions after Hamas' surprise attack on Israel and Israel's subsequent bombardment of Gaza. ClearView Energy Partners managing director Kevin Book joined the podcast to discuss the possible impacts to global oil supplies from the Israeli-Hamas fight and how its links to Iran could play out with regards to sanctions and a change in Washington's posture toward Tehran. He also touched on potential difficult decisions ahead for President Joe Biden as he enters an election year where voters will be assessing his actions to mitigate climate change and looking for relief at the pump that hinges on keeping more barrels in the global market. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

Oil and gas production, transport and processing account for almost 15% of total energy-related greenhouse gas emissions globally, and the use of the oil and gas results in another 40% of emissions, according to the International Energy Agency. Powering upstream oil and gas facilities with low-emissions electricity is one way to cut emissions from the sector, the IEA said. James Walker, CEO of Nano Nuclear Energy, and Jay Yu, founder and executive chairman of Nano Nuclear Energy, joined the podcast to discuss the possible use of micro reactors to reduce emissions in the oil and gas sector. Stick around after the interview for Jeff Mower with the Market Minute, a near-term look at oil market drivers.

In about two months, Interior Secretary Deb Haaland is expected to formally approve a new National Outer Continental Shelf Oil and Gas Leasing Program, putting a five-year offshore leasing plan back on the books after the country's previous program expired over a year ago. As one could imagine, the oil industry was not pleased to hear that only three lease sales for acres in the Gulf of Mexico would be conducted over the next five years. American Petroleum Institute President and CEO Mike Sommers joined the podcast to share the industry's perspective on the new offshore leasing plan, its impact on broader supply and demand dynamics and next steps. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

Fossil fuels used for power and vehicles have been in the spotlight as the Biden Administration seeks to reduce economy-wide carbon emissions to net-zero by 2050. But the US industrial sector is also a key source of carbon emissions, accounting for one-third of all energy related domestic greenhouse gas emissions, according to the US Department of Energy. Carbon emissions from industrial processes like cement and concrete manufacturing can be difficult to abate because emissions come from many different steps in the process. Marty Ozinga, the CEO of concrete company Ozinga, joins new Capitol Crude co-host Kate Winston on the podcast to discuss some of the opportunities available to decarbonize the cement and concrete sector. Stick around after the interview for Starr Spencer with the Market Minute, a near-term look at oil market drivers.

Compared with 2014, the last time oil prices surged to the triple digits, the top 50 US oil and gas companies analyzed by EY more than tripled their earnings last year, according to EY's annual E&P benchmarking study and earnings analysis. And improved efficiency of exploration and production operations and a commitment to capital discipline are allowing for continued shareholder value. Patrick Jelinek, EY's oil and gas leader for the Americas, and Bruce On, EY's West region energy strategy and transactions leader, joined the podcast to offer some context on the payouts shareholders saw last year, expectations for the future and how US producers are navigating both market and political realities. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

On Sept. 6, the Biden administration took steps to fulfill the president's campaign promise to block oil and gas drilling in the Arctic National Wildlife Refuge, cancelling the last remaining oil and gas leases within ANWR. But the holders of those leases -- Alaska's state-owned development finance corporation, the Alaska Industrial Development and Export Authority -- is not taking this lightly. AIDEA Executive Director Randy Ruaro joined the podcast to talk about the lease cancellation, the organization's planned lawsuit and why oil development and protecting the environment do not pose an either-or proposition as he sees room for both to coexist. He also touched on AIDEA's views on rising oil prices and recent predictions about peak oil demand. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

The Interior Department is set to hold Lease Sale 261 on Sept. 27, but oil and gas producers are not happy with the leasing terms and stipulations that Interior has put forth for this sale. Their main issue is with a voluntary settlement agreement the Biden administration entered into with environmental groups in July intended to protect the endangered Rice's Whale. The settlement puts restrictions on oil and gas vessels and prompted the department to take millions of acres off the table for leasing.  Erik Milito, president of the National Ocean Industries Association, joined the podcast to discuss the upcoming lease sale and hurdles the oil industry faces in acquiring the federal acres he says are needed to boost domestic production and help lower oil and gasoline prices. He also touched on the obstacles the offshore wind industry could face from delays in oil and gas leasing as the Inflation Reduction Act created new links between renewable and fossil fuel development. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

The G7-led coalition's price cap imposed on Russian crude is set to be tested as oil prices rise. At the same time, the greenback's supremacy in global oil trade is being challenged.  Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security and global consulting firm Horizon Engage's senior advisor on sanctions, delves into the sanctions and currency impacts on the oil markets on the podcast. She gives her take on the fate of the Russian oil price cap, the effects of price competition among sanctioned entities and whether we're going to see the end of King Dollar anytime soon. Stick around for Chris van Moessner with the Market Minute, a look at near-term oil market drivers.

A new report from the Energy Industries Council found that energy supply chain bosses are not seeing all the hype and ambitious net-zero pledges translate into consistent and profitable work on green projects. EIC CEO Stuart Broadley contends that at the end of the day, if the volume and profitability metrics for net-zero solutions aren't showing up in order books, energy supply chain businesses will have no other choice but to focus on the booming oil and gas space. He joined the podcast to discuss how these realities on the ground are playing out for the oil and gas sector, what it means for the already wide gap between green ambitions and actions, and the policy challenges and needs going forward. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

The country's emergency crude stockpile -- called the Strategic Petroleum Reserve, or SPR -- played heavily in President Joe Biden's strategy last year for curtailing global oil supply shortages and bringing down domestic fuel prices. The Biden administration has now turned its attention to refilling the SPR, which has seen some progress as well as some hiccups. Skanda Amarnath, executive director of the macroeconomic policy think tank Employ America, joined the podcast to discuss the crude buyback effort and actions the Department of Energy might pursue in the coming months. He also gave his take on how the SPR could best be put to use, legislation backed by Republicans to put some checks on the DOE's authority over the SPR and how last year's unprecedented drawdown impacted US ties with major oil producing countries on the world stage. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

OPEC on Aug. 4 renewed production cuts that are expected to tighten global oil supplies and in turn keep upwards pressure on oil prices which have seen several consecutive weeks of gains recently. Tim Evans, energy analyst and founder of the new consultancy Evans on Energy, joined the podcast to discuss OPEC's production policy, the group's objectives and what that means for oil prices. Evans has offered daily market commentary about the crude oil, heating oil, RBOB gasoline and US natural gas futures markets since 1995. On the podcast, he hits on the economics as well as the politics behind some of the OPEC+ alliance's decisions, possible tensions brewing within the alliance and whether the US can combat their desire for a tighter physical market and subsequent higher prices. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

Mentions of artificial intelligence and the metaverse may conjure images of the latest video game or social media platform, but the technologies are increasingly being deployed across a wide range of industries including the energy sector. And AI is becoming an increasingly talked about issue among the federal government, with even the White House jumping in to try to start laying a framework for both seizing this opportunity and managing its risks. However, companies like Nokia are confident that the opportunities outweigh the risks and argue that AI, the metaverse and so-called digital twinning have a wide range of applications for the energy sector. S&P Global Commodity Insights senior power editor Kate Winston spoke with Thierry Klein, president of Bell Labs Solutions Research at Nokia Bell Labs, and Dominique Verhulst, global head of the utilities vertical at Nokia, about these very issues.  Stick around for Jeff Mower with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

With the rise of millennials as a formidable social force, the effectiveness of anti-oil-and-gas activism and the growing attention paid to environmental justice, the oil and gas sector's old playbook to simply “educate and engage” the public must be thrown out and replaced with a more proactive and constructive mindset, according to Adamantine Energy Founding CEO Tisha Schuller. Schuller, who previously served as president and CEO of the Colorado Oil & Gas Association, joined the podcast for a conversation with S&P Global Commodity Insights senior reporter Bill Holland about fundamentally changing the way the oil and gas industry engages with a skeptical public. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

The Bureau of Land Management held a federal oil and gas lease sale in Wyoming on June 29. It marks the second onshore lease sale for the state since President Joe Biden took office and the first to take place in the state since the Inflation Reduction Act instituted higher oil and gas royalty rates and leasing costs for development.  Pete Obermueller, president of the Petroleum Association of Wyoming, joined the podcast to discuss the lease sale results. He spoke with S&P Global Commodity Insights senior editor Starr Spencer about the emerging unconventional Powder River Basin which featured prominently in the auction, the impact of the IRA, and how the Biden administration's actions are affecting industry behavior and interest. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

An aborted rebellion by the Wagner mercenary group last month, although short-lived, highlighted potential political instability within the Kremlin and resurfaced energy security concerns after a softening of prices had allowed for some complacency among oil importers. Geopolitical experts have said it would be naïve to think the turmoil in Russia is over. Claudio Galimberti, North America research director at Rystad Energy, joined the podcast to discuss the oil market's response to the mutiny, what could come if further attacks to Russian President Vladimir Putin's power materialize and how that could impact prices at the pump here in the US. He also shared lessons learned when past geopolitical events stressed major oil producing nations and gave his take on whether the Biden administration can curtail some of the supply-side risk and keep gasoline prices in check. Stick around for Jeff Mower with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

A bipartisan group of senators recently wrote the Treasury Department to push for the use of the most accurate and up-to-date lifecycle greenhouse gas emissions analysis as the department fine-tunes the methodology for calculating new tax credits for sustainable aviation fuel. John Fuher, vice president of government affairs for the ethanol group Growth Energy, joined the podcast to discuss how implementation of the SAF tax credit is faring and challenges that could impede progress towards meeting the ambitious SAF production targets set by the Biden administration, including concerns that outdated modeling could shortchange the effectiveness of SAF incentives. He also touched on the impact new biofuel blending requirements issued by the Environmental Protection Agency and broader geopolitics are having on the outlook for this low-carbon fuel. Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

The Inflation Reduction Act and bipartisan infrastructure law injected an historic level of government funding and tax credits into the clean energy marketplace, but enacting those laws has been far from drama free. Initially, some countries, including allies and trade partners, were left scratching their heads as to what it would mean for them, even spurring talk of a potential “transatlantic trade war” though that rhetoric proved to be overblown. But countries around the world are stepping up their game in response to the US' foray into massive climate and clean energy spending. Akshay Honnatti, the leader of EY's sustainability tax and incentives practice, joined the podcast to discuss initiatives going on in Canada and elsewhere to level the playing field, and how investors are weighing whether to take their clean tech projects to the US or Canada. He spoke about the potential for crossborder partnerships and what's needed for the growing interest in green energy subsidies around the world to not turn hostile and create geopolitical divide. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz This podcast was produced by Jasmin Melvin in Washington and Jennifer Pedrick in Houston.

US sanctions and export controls against Russia have centered on a dual mandate of squeezing the Kremlin's oil export revenues and ensuring the continued flow of Russian oil supplies to the global market. With that in mind, price caps were devised as a carve out for EU and G7 maritime service providers to continue aiding with the seaborne transport of Russian fuels, as long as they are sold at or below cap levels set by a coalition of countries. The US Treasury Department recently heralded the price caps on seaborne exports of Russian crude and oil products a success, pointing to the Kremlin's falling oil revenues despite the country's export volumes being up. However, most of the decline reflects lower global oil prices rather than the cheapening of Russian crude values. Rick Joswick, head of near-term oil market insights and research at S&P Global Commodity Insights, joined the podcast to discuss the shifts in trade flow patterns that followed US and EU sanctions prohibiting imports of Russian crude and oil products and the impact that's had on freight rates and refining margins. Senior editor Jasmin Melvin also asked several oil market experts to weigh in on one question: Is the global price cap on Russian oil a sustainable policy mechanism for achieving the US' dual mandate, particularly if oil supplies get tighter and prices begin to rise again? We heard from: •    Ben Cahill, senior fellow at the Center for Strategic and International Studies (6:42) •    Kevin Book, director of research at ClearView Energy Partners (8:02) •    Rachel Ziemba, adjunct senior fellow at the Center for a New American Security (10:28) •    Fernando Ferreira, director of geopolitical risk service at Rapidan Energy Group (12:31) •    David Goldwyn, chairman of the Atlantic Council's Energy Advisory Group (14:57) •    Paul Sheldon, chief geopolitical adviser for S&P Global Commodity Insights (17:30) Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

How can we heat and cool homes in a safe, non-emitting and affordable way? Well, one nonprofit says networked geothermal systems are the answer. Networked geothermal uses ground source heat pumps to heat and cool buildings without fossil fuels in neighborhoods or city blocks, cutting down on methane leakage. The nonprofit Home Energy Efficiency Team is working with natural gas utilities and state policymakers to transition gas utilities to use more networked geothermal systems. Zeyneb Magavi, the group's co-executive director, joined the podcast to discuss current efforts to transition more of the country from gas to geo. She spoke with S&P Global Commodity Insights reporter Tom Tiernan about projects in the works, policies that are aiding the move to geothermal and the costs both utilities and utility customers could expect from transitioning to a networked geothermal system. Stick around after the interview for Binish Azhar with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

Streamlining the federal permitting process is key to both deploying more renewable and carbon-free energy and ensuring needed fossil fuel production for US and global markets. But how and when to update US permitting laws is the sticking point. S&P Global Commodity Insights industry editor Molly Christian spoke with Alex Herrgott, president and CEO of the Permitting Institute, on what leading permitting reform proposals before Congress could do for the energy sector and what else may be needed to improve the permitting process. Despite bipartisan agreement on key areas, including the need to limit timeframes for project reviews, the complexity and abundance of permitting laws mean Congress may have its hands full on this issue for years, Herrgott says. Stick around after the interview for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

Momentum for electric vehicles is on the rise as policy, industry investment and market perspectives are aligning for a potential EV revolution. But challenges also remain plentiful. Darcy Bisset, a partner at Hogan Lovells specializing in renewable energy and energy transition transactions, joined the podcast to discuss what's needed to meet ambitious policy goals for EV adoption. She touched on the regulatory uncertainty facing the EV industry as well as her expectations for a very bright future once certain hurdles are cleared. She also shared why she thinks this bright future for EVs does not mean dark days ahead for the oil sector. Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

The US Supreme Court recently decided it would not weigh into a dispute between oil companies and local governments over the appropriate venue to hear lawsuits seeking damages for adverse impacts allegedly caused by the oil and gas industry's greenhouse gas emissions. These climate liability lawsuits are now poised to proceed in state courts across the country. Phil Goldberg, special counsel for the Manufacturers' Accountability Project, joined the podcast to discuss the implications of the Supreme Court action and what to expect going forward as these cases are litigated. He also delved into what's at stake not just for the oil industry but for consumers and businesses, and why he views climate lawsuits as a “lose proposition for everybody,” especially those of us that regularly need to fill up at the pump. Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

With the recent indictment of former President Donald Trump, and with the prospect of more to come, the political waters of the country appear to be at their best muddied, at least for the Republican camp that has been a key backer of the oil and gas industry for decades.  S&P Global Commodity Insights senior journalist John Siciliano spoke with Dan Eberhart, the CEO of Canary, the fifth largest installer of wellheads in the US, about how the 2024 presidential race is shaping up. On the podcast, Eberhart also delves into his concerns about challenges at the local level as more states are upping restrictions on hydraulic fracturing, which could make it harder to operate in parts of the country where Canary has seen the most success. He also addresses the future of the Strategic Petroleum Reserve and provides his insights on the Environmental Protection Agency's recently released clean car rules. Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

OPEC+ surprised market watchers with plans to make more than 1.6 million b/d of voluntary oil supply cuts, starting in May. On the podcast, Ben Salisbury, director of research and head energy policy analyst at Height Capital Markets, delves into some of the producer bloc's motivations for pursuing crude oil production cuts while prices remain relatively high and what it could mean for US drivers at the pump as well as the Biden administration's plans to refill the Strategic Petroleum Reserve. Salisbury also hit on implications for the already strained US-Saudi relationship as calls for retaliation have again been floated and whether the price cap on Russian crude could withstand any potential supply constraints. Stick around after the interview for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

US Gulf of Mexico Lease Sale 259, held at the end of March, was closely watched as the first oil and gas auction offered in that area since November 2021. And given that expectations weren't too high, the auction actually turned out quite well. It attracted 353 bids across 313 blocks and captured $264 million in apparent high bids – the highest total in six years. S&P Global Commodity Insights senior editor Starr Spencer spoke with George Laguros, a senior research analyst with S&P Global, about the some of the “surprising” results of the offshore lease sale and some interesting, if not unusual, bidding patterns pursued by some of the participants. Stick around after the interview for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

Comments are due later this month on the Environmental Protection Agency's proposal to grant a fuel policy shift that would clear a path for eight Midwest states to offer a gasoline blend containing 15% ethanol year-round. While ethanol producers were furious that the proposed policy change wouldn't go into effect in time for this summer, some oil refiners insist even the 2024 planned implementation date is too soon. American Fuel & Petrochemical Manufacturers Senior Director of Fuel and Vehicle Policy Patrick Kelly joined the podcast to lay out challenges the group sees with this call for a new Midwest gasoline blend. He also provided his take on calls for emergency waivers and legislation to address the provision of E15. Stick around after the interview for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

A global banking meltdown rattled the oil market in recent weeks and sent crude futures plummeting. OANDA senior market analyst Ed Moya was optimistic that relief was in store for the oil sector from the banking turmoil but he also warned of the Jekyll and Hyde nature of the market as risks remain. On the podcast, he discussed the lingering impact the banking crisis would have on energy sector investments and project financing, prospects for intervention by OPEC, and implications for US oil production. He also touched on how current market dynamics may impact prices at the pump and US plans for replenishing the Strategic Petroleum Reserve. Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

Sentiment suggesting continued bearishness in the crude complex is being challenged by the potential for a tightening market in the second half of the year. Russia continues to be a wildcard and concerns are rising over Iran, just as Chinese demand looks to shoot back, OPEC seems intent on supply cuts and the US aims to refill the Strategic Petroleum Reserve. Phil Flynn, senior energy analyst at the PRICE Futures Group and a Fox Business Network contributor, joined the podcast to share how events taking place around the world are playing into oil prices and gave his take on how geopolitics are impacting oil industry investment decisions. Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

The war in Ukraine has raged on for over a year now with no signs of Russian President Vladimir Putin backing down despite the onslaught of sanctions that continue to hit the Russian economy. A major target has been the Kremlin's oil and gas revenues, but efforts to cut that income source are complicated by Russia's outsized role in global oil markets. Brian O'Toole, a nonresident senior fellow with the Atlantic Council, joined the podcast to discuss oil sanctions policy and how the US strategy against Russia is faring. He also addressed the upcoming review of the price cap on Russian seaborne crude and provided an update on where US oil sanctions policy may head in Venezuela and Iran. Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

The Environmental Protection Agency recently put forth a proposal approving Midwest governors' petition for a fuel policy shift that would allow their states to sell a gasoline blend containing 15% ethanol year-round. But ethanol producers are livid that the agency's proposal would delay implementation of the new rule until 2024, leaving E15 retailers in the Midwest to wonder if they'll be able to sell that fuel this summer. Renewable Fuels Association President and CEO Geoff Cooper joined the podcast to lay out the importance of E15, delve further into the petition from the Midwest states and urge Congress to advance a permanent, nationwide legislative fix to the summertime ban on E15 sales in conventional gasoline markets. Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

The Biden administration is working to reduce US aviation emissions by 20% by 2030 and achieve net-zero emissions for the sector by 2050. To meet this goal, the administration launched the Sustainable Aviation Fuel Grand Challenge to catalyze the production of at least 3 billion gallons of sustainable aviation fuel (SAF) per year by 2030 and 35 billion gallons per year of SAF by 2050. Gevo is currently the third largest worldwide supplier of SAF and has committed to delivering 1 billion gallons per year of SAF and other renewable fuels by 2030. Gevo CEO Patrick Gruber joined the podcast to discuss the policies and market dynamics needed for the significant boost in SAF production envisioned by the administration. He also addressed pain points to deploying SAF projects and sought to debunk some false narratives surrounding the SAF industry. Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.

Accommodating the growth of renewable energy needed to meet ambitious climate goals will require the US to expand the power grid. And according to Princeton researchers, those grid investments could cost upwards of $2 trillion if the US is to achieve net-zero emissions by 2050.  So who's going to foot that bill? Well, ultimately, it's electricity consumers that pay for new transmission, and federal policies in play right now could have a big impact on the final price tag of grid expansion.  The Electricity Transmission Competition Coalition has argued that if the US wants to meet its climate goals and lower the price of energy, the Federal Energy Regulatory Commission cannot abandon transmission competition, which the group contends can reduce the cost of grid projects by as much as 40%.  The coalition's chairman, Paul Cicio, joined S&P Global Commodity Insights senior editor Kate Winston on the podcast to discuss why competition matters and what changes the group is seeking to a FERC proposal on the topic. Stick around after the interview for Jeff Mower with the Market Minute, a look at near-term oil market drivers.

As the operator of the Texas electric grid, the Electric Reliability Council of Texas is familiar with high stakes. But it's not extreme weather that has the grid operator on its toes this time. It's litigation before the Texas Supreme Court over whether ERCOT is in fact a division of state government and thus protected by sovereign immunity, meaning it can't be sued. Merchant power developer Panda Power and San Antonio public utility CPS Energy are leading the charge against ERCOT, and market participants and consumers alike are wondering what it will mean for their wallets. S&P Global Commodity Insights senior editor Mark Watson caught up with K&L Gates partner Maria Faconti for her take on the case after oral arguments were held Jan. 9. She laid out the consequences for the grid operator, market participants and Texans, and what happens next if either Panda or CPS prevails in their lawsuits against ERCOT. Stick around after the interview for Chris Van Moessner with the Market Minute, a look at near-term oil market drivers.

The US has dozens of offshore wind projects in the pipeline as the Biden administration has set its sights on deploying 30 GW of offshore wind by 2030 and 110 GW by 2050. And 11 coastal states have already set procurement targets that exceed 50 GW through 2035 and surpass 75 GW by 2045. But if the industry wants to build the up to 200 GW of capacity necessary to decarbonize power grids and become a staple in federal waters like the oil and gas sector, early and frequent planning must be a priority. What's more, a new report from The Brattle Group -- commissioned by the American Council on Renewable Energy, known as ACORE, and other clean energy advocacy groups – found that proactive transmission planning over the next several decades could save at least $20 billion in transmission costs associated with reaching the country's offshore wind goals. S&P Global Commodity Insights power news editor Kassia Micek spoke with José Zayas, ACORE's executive vice president of policy and programs, about the state of the US offshore wind market, steps needed to achieve development goals, and where the wind, oil and shipping industries link up. Stick around after the interview for Starr Spencer with the Market Minute, a look at near-term oil market drivers.