International organization of petroleum-exporting countries
Egyptian-American actor & lawyer Amr El-Bayoumi explains how Hollywood continues to market hateful Arab & Muslim stereotypes and narratives through distorted and toxic roles in its films. Jess & Jamal discuss how OPEC & Saudi Arabia are profiteering from Russia's invasion of Ukraine, and why did billionaire Prince Alwaleed Bin Talal, quietly invested more than $500 million in three major Russian energy companies between February and March?
"The IEA Report indicated increase in demand energy growth while fuel switching from gas to oil with a focus on Europe. On the other hand, OPEC is concerned with geopolitics and Covid which caused them to decrease the demand in energy growth. Saudi Arabia has increased production again. There will be less oil demand as the summer finishes," says Matt Smith.
S&P Futures are trading higher this morning as more signs emerged that inflation in the U.S. has been cooling. Oil prices have reversed direction this morning and are now trading lower. OPEC cut its's oil demand forecasts. The EU is proposing concessions to Iran to revive the nuclear deal.
Recorded August 5, 2022 https://youtu.be/PQ14RfBDLMM Episode 55 of the PetroNerds podcast is a must listen to episode on everything from the US jobs report to the market response, recession, the stock market and tech, oil rice pressure, crude oil inventory levels, inflation and the 1970s, and China and Taiwan. Trisha Curtis, host of the PetroNerds podcast and CEO of PetroNerds, is joined by her guest Gabby Richmond, Executive Director at the Denver Petroleum Club. This is another special "fliparoo" episode with Gabby where she asks Trisha the most timely and relevant oil market and geopolitical questions of the day. Gabby asks Trisha about the US jobs report and the wackiness of the stock market response last week. They talk about the Fed, inflation, recession and what that means for the stock market. Gabby asks about oil prices, US crude oil inventories and stocks, OPEC, Saudi Arabia, and spare capacity. Trisha talks about extreme complexities in the global economy that are important for all businesses and CEOs to watch out for. She also discusses the false sense of security of high oil prices against a backdrop of a poor and stretched global economy in the midst of war and an energy and food crisis. The discussion is closed with a great update on China and Taiwan and Nancy Pelosi's visit to Taiwan last week and what Taiwan means for China, the global economy, US midterms, and more. Trisha talks about Taiwan's need for natural gas to make semiconductors and China's aggressive coal production increases and what it means for Chinese domestic energy security and Chinese outward expansion. WTI is $90.02, Brent $95.68, Henry Hub $8.15, Dutch TTF $60, 30 Year Mortgage 5.16%, 10 Year Yield 2.85%
Brought to you on the Oil and Gas Global Network, the largest and most listened to podcast network for the oil and energy industry. Don't forget to ask a question for our next First Friday Q&A. You ask the questions and we answer them. Have a question? Click here to ask. This week Mark and Paige cover News Stories Governor Newsom is banning oil production in California as President Biden travels to the Middle East to ask other countries to send us more of their oil https://www.wspa.org/messagefromca/ New OPEC Secretary General Takes Office https://www.rigzone.com/news/new_opec_secretary_general_takes_office-02-aug-2022-169842-article/ Senator Sinema Key to Passing Schumer-Manchin Bill https://www.rigzone.com/news/senator_sinema_key_to_passing_schumermanchin_bill-03-aug-2022-169851-article/ NOCs, Not Big Oil, Are Responsible For Most Emissions https://oilprice.com/Energy/Crude-Oil/NOCs-Not-Big-Oil-Are-Responsible-For-Most-Emissions.html Chinese Top Battery Maker Halts N. American Plans After Pelosi Visit To Taiwan https://oilprice.com/Latest-Energy-News/World-News/Chinese-Top-Battery-Maker-Halts-N-American-Plans-After-Pelosi-Visit-To-Taiwan.html Freeport LNG To Restart Most Production By October https://oilprice.com/Latest-Energy-News/World-News/Freeport-LNG-To-Restart-Most-Production-By-October.html Hess makes oil discovery in US Gulf of Mexico https://www.upstreamonline.com/exploration/hess-makes-oil-discovery-in-us-gulf-of-mexico/2-1-1269639 High-Impact Exploration Up With Most Wells Expected Since 2019 https://www.rigzone.com/news/highimpact_exploration_up_with_most_wells_expected_since_2019-04-aug-2022-169858-article/ OPEC+ answers Biden's request for oil with ‘minuscule' output hike https://www.worldoil.com/news/2022/8/3/opec-answers-biden-s-request-for-oil-with-minuscule-output-hike/ Projects announced to expand Permian natural gas capacity https://www.worldpipelines.com/project-news/05082022/projects-announced-to-expand-permian-natural-gas-capacity/ U.S. Department of Energy announces $32 MM to reduce methane emissions from oil and gas sector https://www.hydrocarbonprocessing.com/news/2022/08/us-department-of-energy-announces-32-mm-to-reduce-methane-emissions-from-oil-and-gas-sector Inflation Reduction Act Methane Emissions Charge https://crsreports.congress.gov/product/pdf/R/R47206 Turkey Agrees To Pay For Russian Gas With Rubles https://oilprice.com/Latest-Energy-News/World-News/Turkey-Agrees-To-Pay-For-Russian-Gas-With-Rubles.html The Weekly Rig Count https://rigcount.bakerhughes.com/rig-count-overview The Weekly Rig Count by Baker Hughes https://rigcount.bakerhughes.com/rig-count-overview More from OGGN ...PodcastsLinkedIn GroupLinkedIn Company PageGet notified about industry events Paige Wilson LinkedInMark LaCour Facebook | Twitter | LinkedIn
Plus: Product producers lifted prices more slowly in July. New weekly jobless claims climb slightly to new 2022 high. Authorities in Indiana try to identify cause of house explosion that killed three people. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices
Producer prices rose 9.8 percent in July, less than in June; first-time jobless claims rose last week; and OPEC lowered its projections of global oil demand through 2023. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
Today we had a fantastic guest for our COBT discussion, Dr. Karl Meeusen. Karl serves as Director of Markets, Legislative and Regulatory Policy at Wärtsilä. His career in electricity markets and energy policy has included four years at the California Public Utilities Commission and most recently nearly ten years at California ISO. Now at Wärtsilä, Karl advises policy makers and market participants on power system modeling requirements and resource capabilities. There are many layers to the complexity of modeling reliability in a renewable system and we learned a lot in our session. Wärtsilä was established over 180 years ago and is based in Finland. They develop power plants, hybrid solutions, energy storage and optimization technology designed to increase efficiency and promote reliability. To date, they have deployed 76 GW of power plant capacity and more than 110 energy storage systems to 180 countries around the world. We explored a range of topics from current regulator sentiment, Wärtsilä's history, the impact of volatility on utility modeling and forecasting, Wärtsilä's toolbox of interesting technology including modular natural gas engines, their key steps to "Front-Load Net Zero," the value of flexibility in a renewable system, and more. Thank you Karl for sharing your time and expertise with us all! Mike Bradley started us off with two key topics today. First, he highlighted the upcoming CPI and PPI data releases this week and noted the EIA released their short-term energy outlook with the IEA and OPEC releasing their reports on Thursday. Then, with earnings season mostly behind us, he shared Q2'22 commodity and equity themes with a look at market performance from the day before second quarter earnings started through to today. Colin Fenton painted the big picture with Friday's Employment Situation report, pointing out that the payrolls statistics excludes agricultural and gig workers, signs that the inflationary pressures are beginning to affect the labor pool, and signs of the other ingredients that typically combine to make U.S. recessions. Thank you for your friendship and affiliation with us. We greatly appreciate it!
Facts & Spin for August 5, 2022 top stories: The UN will investigate whose attack killed Ukrainian POWs, Trump-backed Tudor Dixon wins her Michigan GOP primary, 4 Officers are charged over Breonna Taylor's death, The US Border Patrol will investigate alleged confiscation of Sikh turbans, Scientists restore dead pig organs to life, Brittney Griner is sentenced to 9 years in Russian prison, The US sanctions Putin's reputed girlfriend, The DOJ subpoenas a former Trump White House counsel, OPEC+ makes the smallest oil output increase in its history, and the NFL punishes the Dolphins owner for tampering Sources: https://www.improvethenews.org/
#FracSpread #FracSpreadCount #USGasoline #FSC #FuelNews #USFuelNewsFrac spread activity has taken a pause as it kicks off August. But there is much more in this segment!Email us here at: email@example.com for a free sample!Primary Vision Network is also offering access to our one-of-a-kind research portal via monthly and yearly subscriptions.Included in a monthly / yearly subscription:The National Frac Spread Count (updated weekly!)Oilfield Service analysis found nowhere else but here!Unique economic updates from across the globe!Bonus Company profiles, commentary and so much more!Go here to get started! https://primaryvision.co/subscription-plan/
This episode describes efforts undertaken by the Department of Energy in the late 1970s to study the environmental, economic, and social consequences of anthropogenic climate change. In the early 1970s, President Richard Nixon confronted a series of energy crises. Blackouts in major U.S. cities, natural gas shortages, and the 1973 OPEC oil embargo led to cold winters, hot summers, and long lines at the pump. In response, Nixon began reorganizing the executive branch to better respond to such crises, an effort that would continue during the terms of his successors Gerald Ford and Jimmy Carter. One proposal that Nixon's new energy advisors suggested was to burn more domestic coal and oil. Meteorologists, atmospheric scientists, oceanographers, and scientists in related fields paid close attention to these new energy policies. Some, including William P. Elliott, then working in the Air Resources Laboratory at the National Oceanic and Atmospheric Administration, responded with alarm. Based on the papers of William P. Elliott, this episode covers federal research efforts on anthropogenic climate change during the Carter administration. A handful of scientists began organizing a research program within the new Department of Energy to study the consequences of relying on more fossil fuels. That is, until the sudden closure of that program in 1981. We'll also discuss how debates about climate change from nearly fifty years ago still resonate today.
①China begins live-fire military exercises in six areas around the island of Taiwan hours after Nancy Pelosi's departure. Is it a rehearsal for "reunification operations"? (01:01) ②China lashes out at a G7-EU joint statement on Taiwan, saying it is reminiscent of the "Eight-Power Allied Forces" which invaded China in 1900. What's wrong with the statement? (13:19) ③China emphasizes ties with Southeast Asia in a Cambodia meeting between the foreign ministers of the two sides. (22:07) ④OPEC+ agrees minimal oil production increase in limited effort to please western allies. (33:07) ⑤Washington ratifies Sweden and Finland's NATO membership, but Turkiye still seems to be an obstacle. (42:08)
In today's edition of Cut to the Chase, Manpreet discusses why we remain constructive on oil prices after yesterday's OPEC+ meeting, how the BoE decision could result in a rangebound GBP and what we'd focus on in tomorrow's US jobs report. Speaker:Manpreet Gill, Head of Fixed Income, Currency and Commodities (FICC) Strategy, Standard Chartered BankFor more of our latest market insights, visit Market views on-the-go.
Mission Daily Report August 4, 2022 1.อัปเดตตัวเลขผู้ที่ได้รับการฉีดวัคซีน Covid-19 ในประเทศไทย 2.ราคาดัชนีตลาดหลักทรัพย์ / ราคาหุ้นต่างประเทศ / ราคาน้ำมันดิบ / ราคาทองคำ / ราคา Cryptocurrency 3.Microsoft สวนกระแสโลกจ้างพนักงานเพิ่มต่อเนื่อง 4.จีนระงับนำเข้าอาหาร-ขนมจากบริษัทส่งออกไต้หวัน 5.รัฐบาลจีนประกาศปิดน่านฟ้า-น่านน้ำ รอบเกาะไต้หวัน เตรียมซ้อมรบ 6.Radiant พลังงานนิวเคลียร์แบบพกพาใช้งานได้นาน 8 ปี 7.เวียดนามทำฟาร์มกุ้งด้วยเทคโนโลยีใหม่ 8.OPEC+ เพิ่มการผลิตน้ำมันเดือนก.ย.เพียง 1 แสนบาร์เรล/วัน 9.เครื่องปฏิกรณ์แบบแยกส่วนขนาดเล็กเครื่องแรก 10.สยามพิวรรธน์ เปิดขายหุ้นกู้ด้อยสิทธิฯ ครั้งแรก ดอกเบี้ย 5 ปีแรก 5.50% 11.1 ทุ่มวันนี้ พบกับ Campaign 1948beauty.com Surprise Birthday Sale 12.ฮีโน่เปิดเผย มีการปกผิดข้อมูลเท็จมากว่า 20 ปี 13.ผลประเมินคุณธรรมและความโปร่งใส 'กลาโหม-เหล่าทัพ' ผ่าน 100% 14.Manchecter City ร่วมมือกับ Cisco เปิดตัวผ้าพันคอ Connected Scarf 15.จับตา BOE ประกาศขึ้นดอกเบี้ย 0.50% มากสุดรอบ 25 ปี
Amena Bakr of Energy Intelligence Group explained the thinking behind this move. Plus, tabby has raised 150 million dollars in debt financing - we speak to the CEO about why. And there's been a decline in cargo volumes for Middle East airlines. Kashif Khalid of IATA explains why this isn't a cause for concern. See omnystudio.com/listener for privacy information.
OPEC+ recently pledged to boost oil production by 100,000 barrels a day. Though it sounds like a lot, it likely won’t temper high oil prices much and may indicate that the oil cartel expects a dip in demand and a potential recession. Plus, credit card debt is on the rise, a new era of TV centers on Native people and Germany’s reliance on Russian oil stokes economic anxieties.
OPEC+ recently pledged to boost oil production by 100,000 barrels a day. Though it sounds like a lot, it likely won’t temper high oil prices much and may indicate that the oil cartel expects a dip in demand and a potential recession. Plus, credit card debt is on the rise, a new era of TV centers on Native people and Germany’s reliance on Russian oil stokes economic anxieties.
S&P Futures are trading higher this morning. This morning we have a decision on interest rates from the Bank of Egland and an OPEC meeting that the markets will be paying attention to. Fed officials that spoke yesterday indicated that interest rates are likely to continue to move higher at the coming meetings. Heavy day for earning announcements with over 450 companies scheduled to report today.
OPEC+ will raise production by 100,000 barrels a day for September, aimed at adding more supplies to an already tight oil market. The BBCs Middle East business correspondent Sameer Hashmi joins us with the latest news on this. A long list of major companies have revealed their profits and losses results in the last couple of days. Investment Director at AJ Bell Russ Mould talks us through a mixed set of results. Stephen King has testified against Penguin Random House's proposed takeover of Simon & Schuster. He says the deal, worth more than two billion dollars, would be, "bad for competition in the industry". Founder and agent of Headwater Literary Management, Laura Zats joins us from Minnesota. Nancy Pelosi's visit to Taiwan lasted less than 24 hours, but during the short visit the US house speaker reaffirmed support for the democratically elected government in Taipei. China immediately banned imports from several Taiwanese companies producing pastries and other baked goods. Former Taiwan Presidential Office Spokesperson Kolas Yotaka, explains. (Picture: A fuel pump during a car refueling is seen at a gas station in this illustration photo taken in Poland on July 19, 2022. Picture credit: Getty Images).
Uninsured rate is at 8% thanks to insurance subsidies, Biden administration says; OPEC+ meets amid calls for more oil production; China imposes limited trade sanctions on Taiwan To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
We had the good fortune of visiting with Dr. David Victor today for an engaging discussion on climate, policy, and in particular, problem-solving structures that feature "experimentalist governance." Dr. Victor is a Professor of Innovation and Public Policy at UC San Diego and Co-Director of the UC San Diego Deep Decarbonization Initiative. He has published over 200 articles and books on climate change and the "transition from a high emissions energy world to a low emissions energy world." Today is the release date of his latest book which he Co-Authored with Charles Sabel, "Fixing the Climate: Strategies for an Uncertain World." We thoroughly enjoyed the discussion, Dr. Victor's pragmaticism, as well as his upbeat demeanor. Fixing the Climate explains why effective climate policy requires government and business collaboration and an emphasis on experimentalism. The book features examples of successful environmental policy, with a particularly deep and illuminating dive into the Montreal Protocol, the world's successful answer to attacking the CFC/ozone problems. In our conversation, we look at the balance and symbiosis between vision and leadership at the Federal level and problem solving in local communities, the key factors Dr. Victor thinks will determine natural gas's future, how to improve education, the need for more focus on climate impact, as well as a range of other issues. As you will hear, Dr. Victor is spending more and more time with energy and other industries, learning and helping from the inside out how incumbent players can meaningfully and profitably contribute to the way forward. To kick off the show, Mike Bradley highlighted his two key focus items for the week including his expectations for the OPEC+ meeting this Wednesday as well as for more energy earnings. Colin Fenton commented on recovering markets, and some recent potentially positive policy moves, but cautioned there are considerable challenges in front of us, just one example of which is the agitated swirl around Speaker Pelosi's trip to Taiwan.
In this episode, Aimen and Thomas talk about one of the many governing institutions which arose out of the wreckage of the old imperial and colonial world, and which still underpins the way the world functions today: OPEC. The only great governing institution founded and run by statesmen outside the Western corridors of power, since its founding in 1960, OPEC has played a big role in every major geopolitical event since its founding in 1960. War, terrorism, kidnappings, assassinations, and an ever-present threat to the global economy—the story of OPEC has it all! Listen to exclusive bonus content and get all episodes ad-free by subscribing to Conflicted Extra on Apple Podcasts and Spotify for just 99p/month. Join our FB Discussion group to get exclusive updates: https://www.facebook.com/groups/450486135832418 Find us on Twitter: https://twitter.com/MHconflicted And Facebook: https://www.facebook.com/MHconflicted Learn more about your ad choices. Visit megaphone.fm/adchoices
Email us here at: firstname.lastname@example.org for a free sample!Primary Vision Network is also offering access to our one-of-a-kind research portal via monthly and yearly subscriptions.Included in a monthly / yearly subscription:The National Frac Spread Count (updated weekly!)Oilfield Service analysis found nowhere else but here!Unique economic updates from across the globe!Bonus Company profiles, commentary and so much more!Go here to get started! https://primaryvision.co/subscription-plan/
In today's edition of Cut to the Chase, Manpreet discusses whether the rise in bond yields are a risk or an opportunity, why an attractive trade in USD/JPY could be brewing and how to read the upcoming OPEC+ meeting.Speaker:Manpreet Gill, Head of Fixed Income, Currency and Commodities (FICC) Strategy, Standard Chartered BankFor more of our latest market insights, visit Market views on-the-go.
US House Speaker Nancy Pelosi left Taipei this morning after stressing America's commitment to democracy in Taiwan. That, of course, further rankled China, which announced a series of missile tests and military drills over the next few days. Taiwan is saying that's tantamount to a blockade of its territory. We have it all covered, beginning with a live report from Taipei by CNN's Will Ripley Also in today's show: OPEC announces a modest boost to oil production.To learn more about how CNN protects listener privacy, visit cnn.com/privacy
Simon Shares Massmart (JSE code: MSM) update, retail margins are being squeezed, the exception is clothing retail. Thungela Resources (JSE code: TGA) very strong trading update. JSE (JSE code: JSE) results, strong. Nancy Pelosi lands in Taiwan and markets don't really care and China will complain - but this is not leading to war. Uber (NYSE code: UBER) finally hits cash flow positive. OPEC+ 100,000 b/d output hike, expectations (hopes?) were for 4-5x that and the second smallest increase since 1986. Earn 11% with Retail Savings Bonds What's the only thing we control in markets The price we pay Everything else is beyond our control So use your one power carefully
Ben, Andrew, and Tom discuss speaker Pelosi's controversial trip to Taiwan, OPEC+ pledging to increase oil production by 100k barrels/day (the smallest increase in OPEC+ history), a relatively uneventful JOLTS job report, Jim Bullard's (St. Louis fed president) comments on CNBC, Robinhood laying off 23% of its work force, and earnings results out of PYPL, MCHP, AMD, and SBUX.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures
APAC stocks were mostly kept afloat following US House Speaker Pelosi's safe arrival in Taiwan but upside was capped by China's response.21 PLA jets entered Taiwan's ADIZ, while Chinese battery giant CATL is reportedly pausing its North American battery plant announcement.European equity futures are indicative of a softer open with the Euro Stoxx 50 future -0.2% after the cash market closed down 0.6% yesterday.DXY is softer but remains on a 106 handle, JPY is the marginal G10 outperformer, EUR/USD is back below 1.02.Looking ahead, highlights include EZ, UK & US Composite/Services PMI, German Trade Balance, Swiss CPI, EZ Retail Sales, US Factory Orders & ISM Services PMI, OPEC+, Speeches from Fed's Barkin, Harker & Kashkari, Supply from Germany.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
European bourses are mixed but with a modest positive underlying bias emerging as the session progresses ahead of key risk events, Euro Stoxx 50 +0.4%Stateside, futures are firmer across the board, ES +0.4%, moving directionally with their European peers and eyeing US/China/Taiwan, ISM Services and Fed speakFor FX, the DXY remains in proximity to the trough of 106.00 with peers modestly bid across the board ex-CHFBenchmarks have been moving lower as we head into today's JMMC and OPEC+ events, sources thus far suggest production will be maintained or subject to a small increaseCore debt reversal and pullback extends with the pace of the initial move increasing on the initial PMIsPelosi has now departed Taiwan and is believed to be heading to S. KoreaLooking ahead, highlights include US Composite/Services Final PMI, US Factory Orders & ISM Services PMI, OPEC+, Speeches from Fed's Barkin, Harker & Kashkari.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Stocks rise; oil cartel's expansion is far less than previous targets; gasoline demand is weakening; service sector expands in July To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices
We have projections in two key GOP primaries in Arizona – two of the former President's preferred candidates came out on top. US gas prices have fallen for 50 days straight with oil-rich countries pledging to pump more oil in September. House Speaker Nancy Pelosi's trip to Taiwan comes to an end. Lake Mead's water levels are so low, three bodies have been found since May – we'll tell you where the investigations stand. Plus, NASA says an underwater volcano eruption could cause the Earth's surface to warm.To learn more about how CNN protects listener privacy, visit cnn.com/privacy
S&P Futures are moving lower this morning. China-US tensions are heightened due to Speak Pelosi's planned visit to Taiwan despite stern warnings from China. Earnings reports are coming n mixed this morning. Oil is moving lower ahead of tomorrow's OPEC meeting and European/Asian markets are mainly lower this morning.
European bourses are pressured as the general tone remains tentative ahead of Pelosi's visit to Taiwan, Euro Stoxx 50 -0.9%; note, FTSE 100 -0.1% notably outperforms following earnings from BP +3.0%.Stateside, futures are similarly downbeat and have been drifting lower amid the incremental updates to Pelosi and her possible Taiwan arrival time of circa. 14:30BST/09:30ET; ES -1.0%.DXY lifts as activity currencies wane on the above risk tone alongside JPY extending its winning streak; AUD slips post 50bp hikeCore fixed income is underpinned pre-Pelosi and Fed speak while UK issuance was twice over-subscribedGoing into JTC, FBN source says Saudi will push OPEC+ to increase oil production at Wednesday's gatheringLooking ahead, highlights include Canadian Manufacturing PMI, New Zealand Unemployment, US NY Fed Household Debt & Credit Report, Speeches from Fed's Bullard, Evans & Mester. Earnings from Uniper, PayPal, Gilead, Uber & Starbucks.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
Even as prices decline, the tight oil market is once again raising economic and political worries in Washington. In July, President Biden traveled to the Middle East to meet with several Arab leaders – including Saudi Arabia's King and Crown Prince Mohammed bin Salman. Expanding oil supply was high on the list of the administration's diplomatic objectives. Saudi Arabia says it has limited ability to add extra oil to the market, and it's not clear whether OPEC+ countries agree on the path forward for oil output. All of this comes at a time of enormous uncertainty in the global outlook for oil, due to fears of a recession and concerns over Russian supply. Now all eyes are on OPEC+ in early August. Will Biden's overtures have any consequential impact on production? This week, host Jason Bordoff sits down with Dr. Karen Young and Bob McNally to discuss what's next for oil markets. Dr. Young is the newest Senior Research Scholar at the Columbia University Center on Global Energy Policy. She was a Senior Fellow and Founding Director of the Program on Economics and Energy at the Middle East Institute. Bob McNally is a Non-Resident Fellow at the Center on Global Energy Policy. He's the author of Crude Volatility: The History and the Future of Boom-Bust Oil Prices, published by Columbia University Press. In his full-time capacity he is the founder and President of Rapidan Energy Group, an independent energy consulting and market advisory firm based in the Washington DC area. In the wake of Biden's controversial trip to the Middle East, Jason spoke with Karen and Bob about what it tells us about the state of the global oil market in the months ahead.
Ben and Tom discuss the market's reaction to commentary out of the Fed, whether or not that reaction is warranted, responses from Fed officials to the situation, and another busy week that includes manufacturing and service report data, job openings prints, and an OPEC+ meeting. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures
A heavy earnings calendar this week, including anticipated reports from Starbucks (SBUX) and Caterpillar (CAT). All eyes are on oil, as OPEC+ is expected to announce key targets, and Russian President Putin meets with Turkey's Erdogan. Could food technology companies be the answer to a looming global crisis? Learn more about your ad choices. Visit megaphone.fm/adchoices
While I'm still on hiatus, I invited questions from listeners. This is an hour-long podcast answering some of them. (Another hour-long Q&A for Patreon backers only will go up next week). Tilt Araiza has assisted invaluably by doing a first-pass edit, and will hopefully be doing so from now on. Check out Tilt's irregular podcasts at http://www.podnose.com/jaffa-cakes-for-proust and http://sitcomclub.com/ There is a Mixcloud of the music excerpted here which can be found at https://www.mixcloud.com/AndrewHickey/500-songs-supplemental-qa-edition/ Click below for a transcript: Hello and welcome to the Q&A episode I'm doing while I'm working on creating a backlog. I'm making good progress on that, and still hoping and expecting to have episode 151 up some time in early August, though I don't have an exact date yet. I was quite surprised by the response to my request for questions, both at the amount of it and at where it came from. I initially expected to get a fair few comments on the main podcast, and a handful on the Patreon, and then I could do a reasonable-length Q&A podcast from the former and a shorter one from the latter. Instead, I only got a couple of questions on the main episode, but so many on the Patreon that I had to stop people asking only a day or so after posting the request for questions. So instead of doing one reasonable length podcast and one shorter one, I'm actually doing two longer ones. What I'm going to do is do all the questions asked publicly, plus all the questions that have been asked multiple times, in this one, then next week I'm going to put up the more niche questions just for Patreon backers. However, I'm not going to answer *all* of the questions. I got so many questions so quickly that there's not space to answer them all, and several of them were along the lines of "is artist X going to get an episode?" which is a question I generally don't answer -- though I will answer a couple of those if there's something interesting to say about them. But also, there are some I've not answered for another reason. As you may have noticed, I have a somewhat odd worldview, and look at the world from a different angle from most people sometimes. Now there were several questions where someone asked something that seems like a perfectly reasonable question, but contains a whole lot of hidden assumptions that that person hadn't even considered -- about music history, or about the process of writing and researching, or something else. Now, to answer that kind of question at all often means unpacking those hidden assumptions, which can sometimes make for an interesting answer -- after all, a lot of the podcast so far has been me telling people that what they thought they knew about music history was wrong -- but when it's a question being asked by an individual and you answer that way, it can sometimes, frankly, make you look like a horribly unpleasant person, or even a bully. "Don't you even know the most basic things about historical research? I do! You fool! Hey everyone else listening, this person thinks you do research in *this* way, but everyone knows you do it *that* way!" Now, that is never how I would intend such answers to come across -- nobody can be blamed for not knowing what they don't know -- but there are some questions where no matter how I phrased the answer, it came across sounding like that. I'll try to hold those over for future Q&A episodes if I can think of ways of unpicking the answers in such a way that I'm not being unconscionably rude to people who were asking perfectly reasonable questions. Some of the answers that follow might still sound a bit like that to be honest, but if you asked a question and my answer sounds like that to you, please know that it wasn't meant to. There's a lot to get through, so let's begin: Steve from Canada asks: “Which influential artist or group has been the most challenging to get information on in the last 50 podcasts? We know there has been a lot written about the Beatles, Beach Boys, Motown as an entity, the Monkees and the Rolling Stones, but you mentioned in a tweet that there's very little about some bands like the Turtles, who are an interesting story. I had never heard of Dino Valenti before this broadcast – but he appeared a lot in the last batch – so it got me curious. [Excerpt: The Move, “Useless Information”] In the last fifty episodes there's not been a single one that's made it to the podcast where it was at all difficult to get information. The problem with many of them is that there's *too much* information out there, rather than there not being enough. No matter how many books one reads on the Beatles, one can never read more than a fraction of them, and there's huge amounts of writing on the Rolling Stones, on Hendrix, on the Doors, on the Byrds... and when you're writing about those people, you *know* that you're going to miss out something or get something wrong, because there's one more book out there you haven't read which proves that one of the stories you're telling is false. This is one of the reasons the episodes have got so much longer, and taken so much more time. That wasn't the case in the first hundred episodes -- there were a lot of artists I covered there, like Gene and Eunice, or the Chords, or Jesse Belvin, or Vince Taylor who there's very little information about. And there are some coming up who there's far less information about than people in the last fifty episodes. But every episode since the Beatles has had a surfeit of information. There is one exception -- I wanted to do a full episode on "Rescue Me" by Fontella Bass, because it would be an interesting lens through which to look at how Chess coped with the change in Black musical styles in the sixties. But there was so little information available about her I ended up relegating it to a Patreon bonus episode, because she makes those earlier artists look well-documented. Which leads nicely into the next question. Nora Tillman asks "Forgive this question if you've answered it before: is there literally a list somewhere with 500 songs you've chosen? Has the list changed since you first composed it? Also, when did you first conceive of this list?" [Excerpt: John Reed and the D'Oyly Carte Opera Company, "As Someday it May Happen"] Many people have asked this question, or variations upon it. The answer is yes and no. I made a list when I started that had roughly two hundred songs I knew needed to be on there, plus about the same number again of artists who needed to be covered but whose precise songs I hadn't decided on. To make the initial list I pulled a list out of my own head, and then I also checked a couple of other five-hundred-song lists -- the ones put out by Rolling Stone magazine and the Rock and Roll Hall of Fame -- not because I wanted to use their lists; I have very little time for rock critical orthodoxy, as most of my listeners will likely have realised by now, but because I wanted to double-check that I hadn't missed anything obvious out, and that if I was missing something off their lists, I knew *why* I was missing it. To take a ludicrous example, I wouldn't want to get to the end of the 1960s and have someone say "Wait a minute, what about the Beatles?" and think "I *knew* I'd forgotten something!" Then, at the start of each fifty-episode season, I put together a more rigorous list of the fifty songs coming up, in order. Those lists *can* still change with the research -- for example, very early on in the research for the podcast, I discovered that even though I was completely unfamiliar with "Ko Ko Mo" by Gene and Eunice, it was a hugely important and influential record at the time, and so I swapped that in for another song. Or more recently, I initially intended to have the Doors only have one episode, but when I realised how much I was having to include in that episode I decided to give them a second one. And sometimes things happen the other way -- I planned to do full episodes on Jackie Shane and Fontella Bass, but for both of them I couldn't find enough information to get a decent episode done, so they ended up being moved to Patreon episodes. But generally speaking that fifty-song list for a year's episodes is going to remain largely unchanged. I know where I'm going, I know what most of the major beats of the story are, but I'm giving myself enough flexibility to deviate if I find something I need to include. Connected with this, Rob Johnson asks how I can be confident I'll get back to some stories in later episodes. Well, like I say, I have a pretty much absolute idea of what I'm going to do in the next year, and there are a lot of individual episodes where I know the structure of the episode long before we get to it. As an example here... I don't want to give too much away, and I'm generally not going to be answering questions about "will artist X be appearing?", but Rob also asked about one artist. I can tell you that that artist is one who will not be getting a full episode -- and I already said in the Patreon episode about that artist that they won't -- but as I also said in that episode they *will* get a significant amount of time in another episode, which I now know is going to be 180, which will also deal with another artist from the same state with the same forename, even though it's actually about two English bands. I've had the structure of that episode planned out since literally before I started writing episode one. On the other hand, episode 190 is a song that wasn't originally going to be included at all. I was going to do a 1967 song by the same artist, but then found out that a fact I'd been going to use was disputed, which meant that track didn't need to be covered, but the artist still did, to finish off a story I'd started in a previous episode. Patrick asks:"I am currently in the middle of reading 1971: Never a Dull Moment by David Hepworth and I'm aware that Apple TV have produced a documentary on how music changed that year as well and I was wondering what your opinion on that subject matter? I imagine you will be going into some detail on future podcasts, but until recently I never knew people considered 1971 as a year that brought about those changes." [Excerpt: Rod Stewart, "Angel"] I've not yet read Hepworth's book, but that it's named after an album which came out in 1972 (which is the album that track we just heard came from) says something about how the idea that any one year can in itself be a turning point for music is a little overstated -- and the Apple documentary is based on Hepworth's book, so it's not really multiple people making that argument. Now, as it happens, 1971 is one of the break points for the podcast -- episodes 200 and 201 are both records from July 1971, and both records that one could argue were in their own way signifiers of turning points in rock music history. And as with 1967 it's going to have more than its fair share of records, as it bridges the gap of two seasons. But I think one could make similar arguments for many, many years, and 1971 is not one of the most compelling cases. I can't say more before I read Hepworth's book, which won't be for a few months yet. I'm instinctively dubious of these "this year was the big year that changed everything" narratives, but Hepworth's a knowledgeable enough writer that I wouldn't want to dismiss his thesis without even reading the book. Roger Pannell asks I'm a fairly recent joiner-in too so you may have answered this before. What is the theme tune to the podcast please. [Excerpt: The Boswell Sisters, “Rock and Roll”] The theme song to the podcast is "Rock and Roll" by the Boswell Sisters. The version I use is not actually the version that was released as a single, but a very similar performance that was used in the film Transatlantic Merry-Go-Round in 1931. I chose it in part because it may well be the first ever record to contain the phrase "rock and roll" (though as I've said many times there's no first anything, and there are certainly many records which talk about rocking and/or rolling -- just none I know of with that phrase) so it evokes rock and roll history, partly because the recording is out of copyright, and partly just because I like the Boswell Sisters. Several people asked questions along the lines of this one from Christopher Burnett "Just curious if there's any future episodes planned on any non-UK or non-North American songs? The bonus episodes on the Mops and Kyu Sakamoto were fascinating." [Excerpt: Kyu Sakamoto, "Sukiyaki"] Sadly, there won't be as many episodes on musicians from outside the UK and North America as I'd like. The focus of the podcast is going to be firmly on British, American, Irish, and Canadian musicians, with a handful from other Anglophone countries like Australia and Jamaica. There *are* going to be a small number of episodes on non-Anglophone musicians, but very few. Sadly, any work of history which engages with injustices still replicates some of those injustices, and one of the big injustices in rock history is that most rock musicians have been very insular, and there has been very little influence from outside the Anglophone world, which means that I can't talk much about influential records made by musicians from elsewhere. Also, in a lot of cases most of the writing about them is in other languages, and I'm shamefully monolingual (I have enough schoolboy French not to embarrass myself, but not enough to read a biography without a dictionary to hand, and that's it). There *will* be quite a few bonus episodes on musicians from non-Anglophone countries though, because this *is* something that I'm very aware of as a flaw, and if I can find ways of bringing the wider story into the podcast I will definitely do so, even if it means changing my plans somewhat, but I'm afraid they'll largely be confined to Patreon bonuses rather than mainline episodes. Ed Cunard asks "Is there a particular set of songs you're not looking forward to because you don't care for them, but intend to dive into due to their importance?" [Excerpt: Jackie Shane, "Don't Play That Song"] There are several, and there already have been some, but I'm not going to say what they are as part of anything to do with the podcast (sometimes I might talk about how much I hate a particular record on my personal Twitter account or something, but I try not to on the podcast's account, and I'm certainly not going to in an episode of the podcast itself). One of the things I try to do with the podcast is to put the case forward as to why records were important, why people liked them at the time, what they got out of them. I can't do that if I make it about my own personal tastes. I know for a fact that there are people who have come away from episodes on records I utterly despise saying "Wow! I never liked that record before, but I do now!" and that to me shows that I have succeeded -- I've widened people's appreciation for music they couldn't appreciate before. Of course, it's impossible to keep my own tastes from showing through totally, but even there people tend to notice much more my like or dislike for certain people rather than for their music, and I don't feel anything like as bad for showing that. So I have a policy generally of just never saying which records in the list I actually like and which I hate. You'll often be able to tell from things I talk about elsewhere, but I don't want anyone to listen to an episode and be prejudiced not only against the artist but against the episode by knowing going in that I dislike them, and I also don't want anyone to feel like their favourite band is being given short shrift. There are several records coming up that I dislike myself but where I know people are excited about hearing the episode, and the last thing I want to do is have those people who are currently excited go in disappointed before they even hear it. Matt Murch asks: "Do you anticipate tackling the shift in rock toward harder, more seriously conceptual moves in 1969 into 1970, with acts like Led Zeppelin, The Who (again), Bowie, etc. or lighter soul/pop artists such as Donna Summer, Carly Simon or the Carpenters? Also, without giving too much away, is there anything surprising you've found in your research that you're excited to cover? [Excerpt: Robert Plant, "If I Were a Carpenter"] OK, for the first question... I don't want to say exactly who will and won't be covered in future episodes, because when I say "yes, X will be covered" or "no, Y will not be covered", it invites a lot of follow-up discussion along the lines of "why is X in there and not Y?" and I end up having to explain my working, when the episodes themselves are basically me explaining my working. What I will say is this... the attitude I'm taking towards who gets included and who gets excluded is, at least in part, influenced by an idea in cognitive linguistics called prototype theory. According to this theory, categories aren't strictly bounded like in Aristotelian thought -- things don't have strict essences that mean they definitely are or aren't members of categories. But rather, categories have fuzzy boundaries, and there are things at the centre that are the most typical examples of the category, and things at the border that are less typical. For example, a robin is a very "birdy" bird -- it's very near the centre of the category of bird, it has a lot of birdness -- while an ostrich is still a bird, but much less birdy, it's sort of in the fuzzy boundary area. When you ask people to name a bird, they're more likely to name a robin than an ostrich, and if you ask them “is an ostrich a bird?” they take longer to answer than they do when asked about robins. In the same way, a sofa is nearer the centre of the category of "furniture" than a wardrobe is. Now, I am using an exceptionally wide definition of what counts as rock music, but at the same time, in order for it to be a history of rock music, I do have to spend more time in the centre of the concept than around the periphery. My definition would encompass all the artists you name, but I'm pretty sure that everyone would agree that the first three artists you name are much closer to the centre of the concept of "rock music" than the last three. That's not to say anyone on either list is definitely getting covered or is definitely *not* getting covered -- while I have to spend more time in the centre than the periphery, I do have to spend some time on the periphery, and my hope is to cover as many subgenres and styles as I can -- but that should give an idea of how I'm approaching this. As for the second question -- there's relatively little that's surprising that I've uncovered in my research so far, but that's to be expected. The period from about 1965 through about 1975 is the most over-covered period of rock music history, and so the basic facts for almost every act are very, very well known to people with even a casual interest. For the stuff I'm doing in the next year or so, like the songs I've covered for the last year, it's unlikely that anything exciting will come up until very late in the research process, the times when I'm pulling everything together and notice one little detail that's out of place and pull on that thread and find the whole story unravelling. Which may well mean, of course, that there *are* no such surprising things. That's always a possibility in periods where we're looking at things that have been dealt with a million times before, and this next year may largely be me telling stories that have already been told. Which is still of value, because I'm putting them into a larger context of the already-released episodes, but we'll see if anything truly surprising happens. I certainly hope it does. James Kosmicki asks "Google Podcasts doesn't seem to have any of the first 100 episodes - are they listed under a different name perhaps?" [Excerpt: REM, "Disappear"] I get a number of questions like this, about various podcast apps and sites, and I'm afraid my answer is always the same -- there's nothing I can do about this, and it's something you'd have to take up with the site in question. Google Podcasts picks up episodes from the RSS feed I provide, the same as every other site or app. It's using the right feed, that feed has every episode in it, and other sites and apps are working OK with it. In general, I suggest that rather than streaming sites like Google Podcasts or Stitcher or Spotify, where the site acts as a middleman and they serve the podcast to you from their servers, people should use a dedicated podcast app like RadioPublic or Pocketcasts or gPodder, where rather than going from a library of podcast episodes that some third party has stored, you're downloading the files direct from the original server, but I understand that sometimes those apps are more difficult to use, especially for less tech-savvy people. But generally, if an episode is in some way faulty or missing on the 500songs.com webpage, that's something I can do something about. If it's showing up wrong on Spotify or Google Podcasts or Stitcher or whatever, that's a problem at their end. Sorry. Darren Johnson asks "were there any songs that surprised you? Which one made the biggest change between what you thought you knew and what you learned researching it?" [Excerpt: The Turtles, "Goodbye Surprise"] Well, there have been a few, in different ways. The most surprising thing for me actually was in the most recent episode when I discovered the true story behind the "bigger than Jesus" controversy during my reading. That was a story I'd known one way for my entire life -- literally I think I first read about that story when I was six or seven -- and it turned out that not one thing I'd read on the subject had explained what had really happened. But then there are other things like the story of "Ko Ko Mo", which was a record I wasn't even planning on covering at first, but which turned out to be one of the most important records of the fifties. But I actually get surprised relatively little by big-picture things. I'll often discover fun details or new connections between things I hadn't noticed before, but the basic outlines of the story never change that much -- I've been reading about music history literally since I learned how to read, and while I do a deep dive for each episode, it's very rare that I discover anything that totally changes my perspective. There is always a process of reevaluation going on, and a change in the emphases in my thought, so for example when I started the project I knew Johnny Otis would come up a fair bit in the early years, and knew he was a major figure, but was still not giving him the full credit he deserved in my head. The same goes for Jesse Belvin, and as far as background figures go Lester Sill and Milt Gabler. But all of these were people I already knew were important, i just hadn't connected all the dots in my head. I've also come to appreciate some musicians more than I did previously. But there are very few really major surprises, which is probably to be expected -- I got into this already knowing a *LOT*, because otherwise I wouldn't have thought this was a project I could take on. Tracey Germa -- and I'm sorry, I don't know if that's pronounced with a hard or soft G, so my apologies if I mispronounced it -- asks: "Hi Andrew. We love everything about the podcast, but are especially impressed with the way you couch your trigger warnings and how you embed social commentary into your analysis of the music. You have such a kind approach to understanding human experiences and at the same time you don't balk at saying the hard things some folks don't want to hear about their music heroes. So, the question is - where does your social justice/equity/inclusion/suffer no fools side come from? Your family? Your own experiences? School/training?” [Excerpt: Elvis Costello and the Attractions, "Little Triggers"] Well, firstly, I have to say that people do say this kind of thing to me quite a lot, and I'm grateful when they say it, but I never really feel comfortable with it, because frankly I think I do very close to the absolute minimum, and I get by because of the horribly low expectations our society has for allocishet white men, which means that making even the tiniest effort possible to be a decent human being looks far more impressive by comparison than it actually is. I genuinely think I don't do a very good job of this at all, although I do try, and that's not false modesty there. But to accept the premise of the question for a moment, there are a couple of answers. My parents are both fairly progressive both politically and culturally, for the time and place where they raised me. They both had strong political convictions, and while they didn't have access to much culture other than what was on TV or in charting records or what have you -- there was no bookshop or record shop in our town, and obviously no Internet back then -- they liked the stuff out of that mix that was forward-thinking, and so was anti-racist, accepting of queerness, and so on. From a very early age, I was listening to things like "Glad to be Gay" by the Tom Robinson Band. So from before I really even understood what those concepts were, I knew that the people I admired thought that homophobia and racism were bad things. I was also bullied a lot at school, because I was autistic and fat and wore glasses and a bunch of other reasons. So I hated bullying and never wanted to be a bully. I get very, very, *very* angry at cruelty and at abuses of power -- as almost all autistic people do, actually. And then, in my twenties and thirties, for a variety of reasons I ended up having a social circle that was predominantly queer and/or disabled and/or people with mental health difficulties. And when you're around people like that, and you don't want to be a bully, you learn to at least try to take their feelings into consideration, though I slipped up a great deal for a long time, and still don't get everything right. So that's the "social justice" side of things. The other side, the "understanding human experiences" side... well, everyone has done awful things at times, and I would hope that none of us would be judged by our worst behaviours. "Use every man to his desert and who should 'scape whipping?" and all that. But that doesn't mean those worst behaviours aren't bad, and that they don't hurt people, and denying that only compounds the injustice. People are complicated, societies are complicated, and everyone is capable of great good and great evil. In general I tend to avoid a lot of the worst things the musicians I talk about did, because the podcast *is* about the music, but when their behaviour affects the music, or when I would otherwise be in danger of giving a truly inaccurate picture of someone, I have to talk about those things. You can't talk about Jerry Lee Lewis without talking about how his third marriage derailed his career, you can't talk about Sam Cooke without talking about his death, and to treat those subjects