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Capitol Crude: The US Oil Policy Podcast

S&P Global Platts

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Capitol Crude: The US Oil Policy Podcast

Capitol Crude: The US Oil Policy Podcast

S&P Global Platts

7
Followers
71
Plays
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About Us

In-depth weekly analysis of US oil policy news from S&P Global Platts' senior editors covering the Capitol. Hosted by senior oil news editor Meghan Gordon.

Latest Episodes

How CFTC climate risk warnings could impact US energy sector

US oil and gas producers were already facing a tough investment climate by the time this spring's price crash and demand plunge decimated capital spending plans. Layered on top of this near-term crisis is a much bigger, longer-term threat: climate change. A recent Commodity Futures Trading Commission report argues climate change could pose a major risk to the stability of the US financial system. It backs an economy-wide carbon price and recommends that banks pilot the use of stress tests -- both of which could have big impacts on the US energy sector. We spoke with Kyle Danish, a partner at Van Ness Feldman and a nonresident senior associate at the Center for Strategic and International Studies about the report and its potential impacts for the US oil, natural gas and power sectors. Stick around after the interview for the Market Minute, a look at near-term oil market drivers with Platts senior editor Jordan Blum.

19 min5 d ago
Comments
How CFTC climate risk warnings could impact US energy sector

Iran oil sanctions relief scenarios under a Biden White House

For the global oil market, one of the biggest wildcards of the US presidential election is Iran sanctions relief under a Biden administration. This would return more than 2 million b/d to an already very oversupplied oil market. Today we have two predictions for how this would play out and how quickly. Nareeka Ahir, geopolitical analyst for S&P Global Platts Analytics, argues that Biden will want to strike a quick interim deal with Tehran. She sees Iranian crude exports growing annually by 750,000 b/d starting in 2022. She also briefly touches on what the election means for US-Middle East relations and Venezuela oil sanctions under a Biden White House, and gives an update on Libyan supply. In the second interview, Henry Rome, senior Iran analyst at the Eurasia Group, predicts an interim agreement between the Biden administration and Iran could bring no more than 700,000 b/d next year, with a broader deal not coming until late 2021 or 2022. He doesn't see an Iran deal being at the top of Biden's priorities, and he walks us through some of Tehran's limitations in quickly ramping up oil exports. Stick around after both interviews for the Market Minute with Chris van Moessner, a look at near-term oil market drivers.

21 min1 w ago
Comments
Iran oil sanctions relief scenarios under a Biden White House

Broader threat forces US energy sector to look harder at cyber defenses

The coronavirus pandemic has rapidly accelerated the digitization of US energy companies, moving operational technology and corporate networks into workers' homes. Leo Simonovich, vice president and global head of industrial cyber and digital security at Siemens Energy, says this has heightened the need for oil, gas and power companies to increase their cyber defenses. With more point-to-point connections as a result of remote working, energy companies face the potential for more cyberattacks. We ask Simonovich about the cybersecurity implications of actions at the Federal Energy Regulatory Commission and how the energy transition and use of new technologies could compound cyber risks across the energy system. Stick around for the Market Minute, a look at near-term oil market drivers with Platts editor Chris van Moessner.

15 min2 w ago
Comments
Broader threat forces US energy sector to look harder at cyber defenses

Global oil market dynamics at stake in Trump-Biden race

The US presidential election could have far-reaching implications for the global oil market. Chris Midgley, global head of analytics for S&P Global Platts, takes us through the biggest potential impacts for supply, demand and price. He covers Iran sanctions relief scenarios, the outlook for OPEC+ cohesion, the US upstream forecast under Biden drilling restrictions and the future of US trade relations after a chaotic four years. Stick around after the interview for the Market Minute, a look at near-term oil market drivers for this week with Jordan Blum, Platts senior editor for US oil news.

19 min3 w ago
Comments
Global oil market dynamics at stake in Trump-Biden race

Biden's shift on energy, climate issues ahead of November vote (Part 2 of 2)

In Part 2 of our look at the US presidential candidates' evolving energy platforms, we examine how progressive Democrats have pushed former Vice President Joe Biden further left on climate and environmental policies. Glenn Schwartz, director of Rapidan Energy Group's Energy Policy Service, shares his latest prediction for how far Biden will go in restricting oil and gas drilling, and why running mate Kamala Harris' views on fracking and climate remain important in predicting the future of the Democratic energy platform. Part 1 featured an interview with Dan Eberhart, a Republican donor and CEO of Canary, a Denver-based drilling services company, on Trump's evolving energy platform. It also debuted the Market Minute segment, a look at near-term oil market drivers with Platts editor Chris van Moessner.

6 minSEP 22
Comments
Biden's shift on energy, climate issues ahead of November vote (Part 2 of 2)

Trump's shifts on offshore drilling, biofuels ahead of November (Part 1 of 2)

In this two-part episode, we look at how both US presidential candidates' energy platforms have evolved since the start of campaigning. They have had to respond to massive market shifts, a string of natural disasters signaling a changing climate, and waning poll numbers in key states. In Part 1, we look at President Donald Trump's platform with Dan Eberhart, a Republican donor and CEO of Canary, a Denver-based drilling services company. We ask Eberhart about Trump's recent actions to ban drilling offshore Florida, placate biofuel producers in the Midwest, distance himself from the climate concerns surrounding this year's wildfires and hurricane seasons, and lend rhetorical support to oil and gas producers. We also debut the Market Minute segment, a look at near-term oil market drivers with Platts editor Chris van Moessner. Watch for Part 2 on Democratic challenger Joe Biden's move to the left with Rapidan Energy Group's Glenn Schwartz.

15 minSEP 21
Comments
Trump's shifts on offshore drilling, biofuels ahead of November (Part 1 of 2)

Will the White House vote move the US oil production outlook?

How much will November's presidential election actually influence the outlook for US oil and gas production? Artem Abramov, head of shale research for Rystad Energy, makes the somewhat contrarian case that whoever is in the White House come next year will not greatly sway US production either way. Rystad predicts a federal drilling ban, as proposed by Democratic presidential nominee Joe Biden, would have hardly any impact on oil and gas production in the medium term, given drillers' ability to shift to comparable private acreage. Abramov sees US oil output starting 2021 at 11 million b/d, then declining to an average of 10.7 million-10.9 million b/d for the year. Longer-term light oil growth will be very gradual, although WTI prices above $55-$60/b could drive production back to record levels of 13 million b/d set before the coronavirus pandemic. Crude analyst Parker Fawcett also shares S&P Global Platts Analytics' outlook for US production and the election stakes for drillers.

18 minSEP 14
Comments
Will the White House vote move the US oil production outlook?

The election stakes for natural gas pipeline permitting

The November presidential election adds to risks for natural gas pipelines, which link production to demand centers but increasingly face opposition from those seeking to phase out fossil fuels. For interstate gas pipelines, the federal government remains an important gatekeeper for permitting. If Democratic nominee Joe Biden is elected president, a change in leadership at the Federal Energy Regulatory Commission raises questions about whether federal approvals would still be as predictable. In a recent boom cycle, gas pipeline capacity approved by FERC quadrupled between 2013 and 2017 to reach 30.7 Bcf/d before coming off that peak. Rob Rains, senior energy analyst with Washington Analysis, joined us to share whether he thinks federal approvals of gas projects will continue apace in the next presidential term.

17 minAUG 31
Comments
The election stakes for natural gas pipeline permitting

How a Biden victory could influence decarbonization plans for oil and gas companies

A victory in November for former Vice President Joe Biden in November could influence oil and gas companies' decarbonization plans, given Biden's climate and clean energy proposals. European oil majors tend to outpace their US counterparts in terms of climate goals, likely due to the European Green Deal, but could a Democratic victory this fall encourage companies to adopt stricter emission reduction targets? We spoke with John Thieroff, senior analyst with Moody's Investors Service, to help us understand how the US oil and gas sector might respond.

23 minAUG 24
Comments
How a Biden victory could influence decarbonization plans for oil and gas companies

Predicting the next global oil shock when the world is awash in supply

Global oil supply far exceeds demand right now as the coronavirus pandemic keeps travel restrictions in place and commuters working from home. Commodities analysts Leigh Goehring and Adam Rozencwajg, managing partners of Goehring and Rozencwajg, argue that the pandemic and current oil market conditions will be a catalyst for a coming global energy crisis. They think we're not far from a global oil shortage because of the lack of investment happening today and the rapid depletion of the best US shale resources. While some analysts expect shale production to keep global oil markets in a perpetual surplus, Goehring and Rozencwajg argue that the age of shale has largely passed. They project US oil production to fall by as much as 2 million b/d in the second half of 2020 and by as much as 1.5 million b/d in 2021. They see global demand rebounding steadily, which will lead to a spike in prices and an eventual drilling boom five years or so down the road.

19 minAUG 17
Comments
Predicting the next global oil shock when the world is awash in supply

Latest Episodes

How CFTC climate risk warnings could impact US energy sector

US oil and gas producers were already facing a tough investment climate by the time this spring's price crash and demand plunge decimated capital spending plans. Layered on top of this near-term crisis is a much bigger, longer-term threat: climate change. A recent Commodity Futures Trading Commission report argues climate change could pose a major risk to the stability of the US financial system. It backs an economy-wide carbon price and recommends that banks pilot the use of stress tests -- both of which could have big impacts on the US energy sector. We spoke with Kyle Danish, a partner at Van Ness Feldman and a nonresident senior associate at the Center for Strategic and International Studies about the report and its potential impacts for the US oil, natural gas and power sectors. Stick around after the interview for the Market Minute, a look at near-term oil market drivers with Platts senior editor Jordan Blum.

19 min5 d ago
Comments
How CFTC climate risk warnings could impact US energy sector

Iran oil sanctions relief scenarios under a Biden White House

For the global oil market, one of the biggest wildcards of the US presidential election is Iran sanctions relief under a Biden administration. This would return more than 2 million b/d to an already very oversupplied oil market. Today we have two predictions for how this would play out and how quickly. Nareeka Ahir, geopolitical analyst for S&P Global Platts Analytics, argues that Biden will want to strike a quick interim deal with Tehran. She sees Iranian crude exports growing annually by 750,000 b/d starting in 2022. She also briefly touches on what the election means for US-Middle East relations and Venezuela oil sanctions under a Biden White House, and gives an update on Libyan supply. In the second interview, Henry Rome, senior Iran analyst at the Eurasia Group, predicts an interim agreement between the Biden administration and Iran could bring no more than 700,000 b/d next year, with a broader deal not coming until late 2021 or 2022. He doesn't see an Iran deal being at the top of Biden's priorities, and he walks us through some of Tehran's limitations in quickly ramping up oil exports. Stick around after both interviews for the Market Minute with Chris van Moessner, a look at near-term oil market drivers.

21 min1 w ago
Comments
Iran oil sanctions relief scenarios under a Biden White House

Broader threat forces US energy sector to look harder at cyber defenses

The coronavirus pandemic has rapidly accelerated the digitization of US energy companies, moving operational technology and corporate networks into workers' homes. Leo Simonovich, vice president and global head of industrial cyber and digital security at Siemens Energy, says this has heightened the need for oil, gas and power companies to increase their cyber defenses. With more point-to-point connections as a result of remote working, energy companies face the potential for more cyberattacks. We ask Simonovich about the cybersecurity implications of actions at the Federal Energy Regulatory Commission and how the energy transition and use of new technologies could compound cyber risks across the energy system. Stick around for the Market Minute, a look at near-term oil market drivers with Platts editor Chris van Moessner.

15 min2 w ago
Comments
Broader threat forces US energy sector to look harder at cyber defenses

Global oil market dynamics at stake in Trump-Biden race

The US presidential election could have far-reaching implications for the global oil market. Chris Midgley, global head of analytics for S&P Global Platts, takes us through the biggest potential impacts for supply, demand and price. He covers Iran sanctions relief scenarios, the outlook for OPEC+ cohesion, the US upstream forecast under Biden drilling restrictions and the future of US trade relations after a chaotic four years. Stick around after the interview for the Market Minute, a look at near-term oil market drivers for this week with Jordan Blum, Platts senior editor for US oil news.

19 min3 w ago
Comments
Global oil market dynamics at stake in Trump-Biden race

Biden's shift on energy, climate issues ahead of November vote (Part 2 of 2)

In Part 2 of our look at the US presidential candidates' evolving energy platforms, we examine how progressive Democrats have pushed former Vice President Joe Biden further left on climate and environmental policies. Glenn Schwartz, director of Rapidan Energy Group's Energy Policy Service, shares his latest prediction for how far Biden will go in restricting oil and gas drilling, and why running mate Kamala Harris' views on fracking and climate remain important in predicting the future of the Democratic energy platform. Part 1 featured an interview with Dan Eberhart, a Republican donor and CEO of Canary, a Denver-based drilling services company, on Trump's evolving energy platform. It also debuted the Market Minute segment, a look at near-term oil market drivers with Platts editor Chris van Moessner.

6 minSEP 22
Comments
Biden's shift on energy, climate issues ahead of November vote (Part 2 of 2)

Trump's shifts on offshore drilling, biofuels ahead of November (Part 1 of 2)

In this two-part episode, we look at how both US presidential candidates' energy platforms have evolved since the start of campaigning. They have had to respond to massive market shifts, a string of natural disasters signaling a changing climate, and waning poll numbers in key states. In Part 1, we look at President Donald Trump's platform with Dan Eberhart, a Republican donor and CEO of Canary, a Denver-based drilling services company. We ask Eberhart about Trump's recent actions to ban drilling offshore Florida, placate biofuel producers in the Midwest, distance himself from the climate concerns surrounding this year's wildfires and hurricane seasons, and lend rhetorical support to oil and gas producers. We also debut the Market Minute segment, a look at near-term oil market drivers with Platts editor Chris van Moessner. Watch for Part 2 on Democratic challenger Joe Biden's move to the left with Rapidan Energy Group's Glenn Schwartz.

15 minSEP 21
Comments
Trump's shifts on offshore drilling, biofuels ahead of November (Part 1 of 2)

Will the White House vote move the US oil production outlook?

How much will November's presidential election actually influence the outlook for US oil and gas production? Artem Abramov, head of shale research for Rystad Energy, makes the somewhat contrarian case that whoever is in the White House come next year will not greatly sway US production either way. Rystad predicts a federal drilling ban, as proposed by Democratic presidential nominee Joe Biden, would have hardly any impact on oil and gas production in the medium term, given drillers' ability to shift to comparable private acreage. Abramov sees US oil output starting 2021 at 11 million b/d, then declining to an average of 10.7 million-10.9 million b/d for the year. Longer-term light oil growth will be very gradual, although WTI prices above $55-$60/b could drive production back to record levels of 13 million b/d set before the coronavirus pandemic. Crude analyst Parker Fawcett also shares S&P Global Platts Analytics' outlook for US production and the election stakes for drillers.

18 minSEP 14
Comments
Will the White House vote move the US oil production outlook?

The election stakes for natural gas pipeline permitting

The November presidential election adds to risks for natural gas pipelines, which link production to demand centers but increasingly face opposition from those seeking to phase out fossil fuels. For interstate gas pipelines, the federal government remains an important gatekeeper for permitting. If Democratic nominee Joe Biden is elected president, a change in leadership at the Federal Energy Regulatory Commission raises questions about whether federal approvals would still be as predictable. In a recent boom cycle, gas pipeline capacity approved by FERC quadrupled between 2013 and 2017 to reach 30.7 Bcf/d before coming off that peak. Rob Rains, senior energy analyst with Washington Analysis, joined us to share whether he thinks federal approvals of gas projects will continue apace in the next presidential term.

17 minAUG 31
Comments
The election stakes for natural gas pipeline permitting

How a Biden victory could influence decarbonization plans for oil and gas companies

A victory in November for former Vice President Joe Biden in November could influence oil and gas companies' decarbonization plans, given Biden's climate and clean energy proposals. European oil majors tend to outpace their US counterparts in terms of climate goals, likely due to the European Green Deal, but could a Democratic victory this fall encourage companies to adopt stricter emission reduction targets? We spoke with John Thieroff, senior analyst with Moody's Investors Service, to help us understand how the US oil and gas sector might respond.

23 minAUG 24
Comments
How a Biden victory could influence decarbonization plans for oil and gas companies

Predicting the next global oil shock when the world is awash in supply

Global oil supply far exceeds demand right now as the coronavirus pandemic keeps travel restrictions in place and commuters working from home. Commodities analysts Leigh Goehring and Adam Rozencwajg, managing partners of Goehring and Rozencwajg, argue that the pandemic and current oil market conditions will be a catalyst for a coming global energy crisis. They think we're not far from a global oil shortage because of the lack of investment happening today and the rapid depletion of the best US shale resources. While some analysts expect shale production to keep global oil markets in a perpetual surplus, Goehring and Rozencwajg argue that the age of shale has largely passed. They project US oil production to fall by as much as 2 million b/d in the second half of 2020 and by as much as 1.5 million b/d in 2021. They see global demand rebounding steadily, which will lead to a spike in prices and an eventual drilling boom five years or so down the road.

19 minAUG 17
Comments
Predicting the next global oil shock when the world is awash in supply
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