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 I...
Jul 17, 2023•20 min
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,...
Jul 10, 2023•24 min
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 meeti...
Jun 26, 2023•22 min
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 ...
Jun 12, 2023•29 min
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 p...
Jun 05, 2023•25 min
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 , t...
May 22, 2023•19 min
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 ne...
May 15, 2023•24 min
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 fut...
May 08, 2023•17 min
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 Sup...
May 01, 2023•19 min
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 podc...
Apr 24, 2023•18 min
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. S...
Apr 17, 2023•25 min
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 Globa...
Apr 10, 2023•14 min
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 Veh...
Apr 03, 2023•14 min
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 pro...
Mar 27, 2023•23 min
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 even...
Mar 20, 2023•20 min
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...
Mar 13, 2023•19 min
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 p...
Mar 06, 2023•21 min
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 ...
Feb 27, 2023•26 min
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 El...
Feb 13, 2023•16 min
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 p...
Feb 06, 2023•21 min
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 priori...
Jan 30, 2023•18 min
The Federal Energy Regulatory Commission is starting the new year with a 2-2 partisan split after former Chairman Richard Glick was forced to bid adieu to the agency after his renomination stalled out. The divide could complicate action on some of the thornier issues before the agency, and there is a risk of 2-2 deadlocked votes that could stall project authorizations. S&P Global senior editor Maya Weber joined the podcast to break down what’s happening at FERC and what its agenda could mean...
Jan 23, 2023•15 min
After substantial recovery in 2022 from the low crude prices and oil demand brought about by two years of the coronavirus pandemic, 2023 appears beset with uncertainties. Russia’s war with Ukraine, wobbly oil prices and heavy Chinese fuel demand have dampened what was earlier hoped to be a sanguine oil patch in the new year. With inflation gobbling up what are likely to be low-double-digit capital spending increases and E&P operators signaling flattish 2023 activity, US oil and gas producers...
Jan 09, 2023•13 min
What will 2023 have in store for the oil sector? EY principal Pat Jelinek is expecting healthy oil prices next year, increased investment in oil companies’ traditional businesses and adjacent lower carbon options and “a pretty good outlook” for US oil and gas producers in the near term. Jelinek, EY’s oil and gas leader for the Americas, joined the podcast to give his take on what’s to come for the US oil industry as it contends with continued geopolitical instability, the uncertainty of domestic...
Dec 19, 2022•15 min
The US Environmental Protection Agency has pitched raising the amount of renewable fuel that US refiners must mix with gasoline and diesel over the next three years. Ethanol producers generally applauded the agency’s latest proposal for the Renewable Fuel Standard program, but the biodiesel sector was dismayed and accused the EPA of lowballing the renewable volume obligations for biomass-based diesel, undermining biodiesel and renewable diesel’s growth potential. Kurt Kovarik , vice president of...
Dec 12, 2022•19 min
Policy and culture in the US have aligned to paint Big Oil as the bad guy, and its time the industry started fighting back, according to Ellen Wald and Jacqueline Plunkett, who launched Washington Ivy Advisors to advocate for the necessity of legacy energy. Wald, who serves as chief industry officer at the firm, and Plunkett, the firm’s chief strategy officer, want to put an end to the combative rhetoric that pits fossil fuels against renewables so the resources can work hand in hand, with fossi...
Dec 05, 2022•18 min
As Canada’s main oil-producing province, Alberta has rarely let go an opportunity to defend its constitutional rights and pick a fight with the federal government when it comes to developing its abundant natural resources. Over the past few years, the mood overall in Western Canada, led by Alberta, has been of disenchantment, with a significant amount of the ire being directed towards the federal government. With Danielle Smith coming to power as the leader of the United Conservative Party and n...
Nov 21, 2022•20 min
The 2022 US midterm elections featured partisan clashes over energy policy, with accusations traded over whether the Biden administration’s climate policies or what some saw as profit-hungry oil companies were to blame for high prices. With the possibility that divided government or slim margins for either party in Congress will result from the midterms, S&P Global senior editor Maya Weber spoke to Sasha Mackler , executive director of the energy program at the Bipartisan Policy Center, abou...
Nov 14, 2022•22 min
High energy prices and inflation have played a front-stage role in US election politics this season, with control of the US House and Senate at stake in the Nov. 8 voting . S&P Global senior editor Maya Weber caught up with American Exploration & Production Council CEO Anne Bradbury after the annual North American Gas Forum organized by Energy Dialogues to discuss what the election results could mean for the US natural gas sector. Bradbury discussed the “pretty robust” energy package Rep...
Nov 07, 2022•17 min
The pace of drilling and well completions activity in US oil and gas fields has slowed in late 2022 from the ramp up seen earlier in the year as premium equipment and crews to run it have become increasingly tight. But overall, 2023 should be a year of growth, although much depends on upstream operators’ capital budget decisions this year as well as a host of uncertainties, from inflation to the duration of the Russia-Ukraine war . And one of the biggest uncertainties for 2023 is the availabilit...
Oct 31, 2022•23 min
