Economic power-house China has set out 10 targets for 2024, which is pro-growth for oil demand, keen on energy security, and prioritizing accelerated industry modernization and development of new productive forces. In this episode of Platts Oil Markets podcast, Managing Editor for refined oil products, Wanda Wang has invited China experts Grace Lee, Asia analyst from the AltView team, Sijia Sun, Associate Director, China Oil Market, and Oceana Zhou, Oil Market Specialist, to discuss the...

After several great years, Capitol Crude is coming to an end. We want to thank all our listeners for tuning in and supporting us over the years. Going forward, you can find Jasmin and Kate contributing to other S&P Global Commodity Insights podcasts, including Platts Oil Markets, Commodities Focus, and Future Energy. For our last episode, American Petroleum Institute President and CEO Mike Sommers joined the podcast to give the rundown on the policies and rulemakings that could have the...

The Environmental Protection Agency last April pitched its strongest-ever limits on greenhouse gas emissions from passenger cars and trucks. But reports have surfaced that the EPA may be planning to soften that regulation. Dave Cook, senior vehicles analyst with the Union of Concerned Scientists, joined the podcast to share why he believes any weakening of the car rule would be a bad idea. He pushed back on critics’ assertions that the proposal was unachievable and gave his take on the...

The US Department of Energy in late January hit “pause” on its work issuing key LNG export permits. About 30 million mt/year of probable export capacity additions in the US and Mexico are at risk because of the permitting hold. Climate activists have celebrated the White House decision as a massive win, while industry groups have warned that it could endanger future LNG projects and undermine the role of the US as an LNG exporter. But Arvind Ravikumar, co-director of the Energy Emissions...

Under settlement agreements with environmental groups and Colorado, the Bureau of Land Management is taking another look at that the Uncompahgre Resource Management Plan, which guides the management and use of nearly a million acres of public lands and mineral estate in western Colorado. Among the amendments it is considering to the Trump-era plan are alternatives that would reduce the number of acres open to oil and gas leasing. Melissa Hornbein, senior attorney at the Western Environmental...

Threats to the flow of crude supplies have worsened in recent weeks with oil and petroleum products tankers among targets struck by Yemen's Iran-backed Houthi rebels. Foreign policy and international energy specialist Brenda Shaffer, a professor at the US Naval Postgraduate School, joined the podcast to discuss not only the latest developments in the Red Sea but how we got here. She spoke about the Houthi rebels’ origins, their impact on global oil supplies and prices, and the US posture...

The ethanol industry is angling to be a bigger part of the US decarbonization strategy, but so far, the Biden administration has sent some mixed signals on the issue. For instance, the Treasury Department has made some policy decisions that could provide some big opportunities for ethanol, but the Environmental Protection Agency is slow walking other policies the industry has called for. Brian Jennings, the CEO of the American Coalition for Ethanol, joins the podcast to discuss the...

The Biden administration in December signed off on a plan to conduct the fewest oil and gas lease sales in history, with just three auctions in the Gulf of Mexico planned in the next five years. Now, oil and gas companies are changing their bidding strategies to scoop up leases when they are available. George Laguros, a technical research principal with S&P Global Commodity Insights, spoke with Starr Spencer, senior editor for oil news at S&P Global Commodity Insights, to discuss the...

According to S&P Global Market Intelligence data, oil and gas deals topped $271 billion in value in 2023, more than doubling the value of deals made in 2022. Bruce On, EY’s US West region energy strategy and transactions leader, joined the podcast to discuss this wave of consolidation, whether it will continue and just how the oil sector is managing to pull off these deals in uncertain economic times. He also gave his take on how the surge in dealmaking will play out and the role...

In October, the US agreed to ease sanctions on Venezuela in exchange for progress toward a fair election next year. But Venezuela has not fully held up its side of the US sanctions deal, and now it is threatening to annex the oil-rich Essequibo region of neighboring Guyana. David Goldwyn, president of Goldwyn Global Strategies LLC, joins to podcast to discuss the status of US sanctions on Venezuela and what comes next. Stick around after the interview for Starr Spencer with the Market...

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

Heading into this winter, relatively mild weather is forecast, but utility regulators have warned that an extended bout of extreme winter weather could stress infrastructure and present problems once again. Though progress has been made enhance winter preparedness, the interconnected nature of the gas and power industries remains a key concern. Jose Costa, president and CEO of the Northeast Gas Association, joined the podcast to discuss the gas and power interplay. He spoke with S&P...

The climate impact of fossil fuels is in the spotlight as world leaders prepare to head to the COP28 climate negotiations in the United Arab Emirates. Environmental impacts arise from many steps in the oil and gas production process, including the underground mapping that must be done before companies can drill wells. The seismic survey process requires tree cutting that can fragment forests, as well as equipment that emits greenhouse gases. OptiSeis Solutions is a company in Canada that is...

With this year’s elections barely in the rear-view mirror, the 2024 US elections are just one year away. Already, there are questions about how energy policy, climate change and prices at the pump will play into this election cycle. Capitol Crude spoke with a Democratic and a Republican strategist for their take on these issues. Last week, Antjuan Seawright weighed in with the Democratic perspective. And this week, you will hear from Tom Hassenboehler, who discussed the GOP’s thinking. ...

It’s November, and that means US elections are just one year away. But how will energy policy, climate change and prices at the pump play into this election cycle? Capitol Crude spoke with a Democratic and a Republican strategist for their take. We’re going to present their views over two episodes. First up this week, you’ll hear from Antjuan Seawright for the Democratic perspective, and Tom Hassenboehler will be on the podcast next week to weigh in on the GOP’s thinking. Now, Seawright is...

Capitol Crude and Energy Evolution join forces to co-host today's episode, all about artificial intelligence being deployed in the energy and mining sectors. This week's guests are some of the journalists from the S&P Global Commodity Insights newsroom who worked together to write an expansive series of articles on the impact of AI. The pieces look at predictions around how much electricity demand AI will generate, the ways AI is improving productivity, resource discovery and trading, and...

Some 50 years after the 1973 Arab oil embargo, the oil markets are again bracing for potential disruptions after Hamas’ surprise attack on Israel and Israel's subsequent bombardment of Gaza. ClearView Energy Partners managing director Kevin Book joined the podcast to discuss the possible impacts to global oil supplies from the Israeli-Hamas fight and how its links to Iran could play out with regards to sanctions and a change in Washington’s posture toward Tehran. He also touched on potential...

Oil and gas production, transport and processing account for almost 15% of total energy-related greenhouse gas emissions globally, and the use of the oil and gas results in another 40% of emissions, according to the International Energy Agency. Powering upstream oil and gas facilities with low-emissions electricity is one way to cut emissions from the sector, the IEA said. James Walker, CEO of Nano Nuclear Energy, and Jay Yu, founder and executive chairman of Nano Nuclear Energy, joined the...

In about two months, Interior Secretary Deb Haaland is expected to formally approve a new National Outer Continental Shelf Oil and Gas Leasing Program, putting a five-year offshore leasing plan back on the books after the country’s previous program expired over a year ago. As one could imagine, the oil industry was not pleased to hear that only three lease sales for acres in the Gulf of Mexico would be conducted over the next five years. American Petroleum Institute President and CEO Mike...

Fossil fuels used for power and vehicles have been in the spotlight as the Biden Administration seeks to reduce economy-wide carbon emissions to net-zero by 2050. But the US industrial sector is also a key source of carbon emissions, accounting for one-third of all energy related domestic greenhouse gas emissions, according to the US Department of Energy. Carbon emissions from industrial processes like cement and concrete manufacturing can be difficult to abate because emissions come from...

Compared with 2014, the last time oil prices surged to the triple digits, the top 50 US oil and gas companies analyzed by EY more than tripled their earnings last year, according to EY’s annual E&P benchmarking study and earnings analysis. And improved efficiency of exploration and production operations and a commitment to capital discipline are allowing for continued shareholder value. Patrick Jelinek, EY’s oil and gas leader for the Americas, and Bruce On, EY’s West region energy...

On Sept. 6, the Biden administration took steps to fulfill the president’s campaign promise to block oil and gas drilling in the Arctic National Wildlife Refuge, cancelling the last remaining oil and gas leases within ANWR. But the holders of those leases -- Alaska’s state-owned development finance corporation, the Alaska Industrial Development and Export Authority -- is not taking this lightly. AIDEA Executive Director Randy Ruaro joined the podcast to talk about the lease cancellation, the...

The Interior Department is set to hold Lease Sale 261 on Sept. 27, but oil and gas producers are not happy with the leasing terms and stipulations that Interior has put forth for this sale. Their main issue is with a voluntary settlement agreement the Biden administration entered into with environmental groups in July intended to protect the endangered Rice’s Whale. The settlement puts restrictions on oil and gas vessels and prompted the department to take millions of acres off the table for...

The G7-led coalition’s price cap imposed on Russian crude is set to be tested as oil prices rise. At the same time, the greenback’s supremacy in global oil trade is being challenged.  Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security and global consulting firm Horizon Engage’s senior advisor on sanctions, delves into the sanctions and currency impacts on the oil markets on the podcast. She gives her take on the fate of the Russian oil price cap, the effects of...