Capitol Crude: The US Oil Policy Podcast
317 episodes - English - Latest episode: over 3 years ago - ★★★★ - 36 ratingsListen to in-depth weekly analysis of US oil policy news from our senior editors covering the Capitol.
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Global oil market dynamics at stake in Trump-Biden race
September 28, 2020 07:10 - 19 minutes - 8.82 MBThe 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...
Biden's shift on energy, climate issues ahead of November vote (Part 2 of 2)
September 22, 2020 07:10 - 6 minutes - 2.99 MBIn 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...
Trump's shifts on offshore drilling, biofuels ahead of November (Part 1 of 2)
September 21, 2020 07:10 - 15 minutes - 7.08 MBIn 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...
Will the White House vote move the US oil production outlook?
September 14, 2020 05:10 - 18 minutes - 17.3 MBHow 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...
The election stakes for US natural gas pipeline permitting
August 31, 2020 07:00 - 17 minutes - 8.11 MBThe 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....
How a Biden victory could influence decarbonization plans for oil and gas companies
August 24, 2020 07:00 - 23 minutes - 10.9 MBA 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...
Predicting the next global oil shock when the world is awash in supply
August 17, 2020 07:00 - 19 minutes - 9.02 MBGlobal 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...
A new president for Guyana, the next non-OPEC oil giant
August 10, 2020 07:00 - 26 minutes - 12 MBGuyana is one of the most promising new sources for non-OPEC oil production growth, and the country just emerged from a chaotic five-month election drama. Opposition leader Mohamed Irfaan Ali was sworn into office as the country's new president last week. The small South American country is home to...
US oil output returns but will be stunted by capex cuts into 2021
August 03, 2020 07:00 - 20 minutes - 9.18 MBUS oil producers have started bringing some shut-in wells back online since this spring's price crash. S&P Global Platts Analytics expects the nearly all the shut-in volumes to come back by October. But US oil output will continue to decline as a result of some $41 billion in capital...
Biden victory could yield some opportunities for oil, gas sector
July 27, 2020 07:00 - 25 minutes - 11.5 MBA massive regulatory shift could occur if US President Donald Trump loses the White House in November. Former Vice President Joe Biden has embraced energy and climate priorities that swing further left than many of the Obama administration’s, as evidenced by his recently announced four-year,...
How the oil wars myth continues to shape US foreign policy
July 20, 2020 07:00 - 13 minutes - 6.35 MBUS President Donald Trump has used the phrase "take the oil" many times, both as a candidate to criticize previous administrations' strategies in Iraq and while in the White House when discussing Syria. The idea is rooted in the belief that countries have gone to war in the past to grab natural...
Dakota Access shutdown and the future of US midstream projects
July 13, 2020 07:00 - 23 minutes - 11 MBLast week delivered some huge news on the pipeline front that highlights the challenges ahead for the US midstream sector and the fate of future efforts to build multi-state energy projects. First Duke Energy and Dominion Energy announced they were canceling the Atlantic Coast natural gas pipeline...
Shifting geopolitics of energy during pandemic, trade wars and supply abundance
June 28, 2020 19:00 - 32 minutes - 24.8 MBThe fallout from the coronavirus pandemic and a host of other global tensions and trade conflicts brewing in recent months have heightened geopolitical risks to energy trade. Harvard University professor Meghan O'Sullivan shares what she sees as the top geopolitical themes likely to persist beyond...
Sizing up US drilling activity and driving demand after the coronavirus crash
June 22, 2020 19:00 - 15 minutes - 12.3 MBUS oil and gas drilling has slowed to a crawl since global oil demand crashed this spring and prices tumbled with it. Now that WTI has crept back up into the high $30s/b and potentially above $40/b, have we seen the worst of this drilling slowdown? Ted Hall, a vice president at Kayrros, shares his...
The future of US oil, gas production under a Biden presidency
June 15, 2020 07:00 - 10 minutes - 5.01 MBRapidan Energy Group predicts sweeping changes for the energy sector if former Vice President Joe Biden beats US President Donald Trump in November. Biden's policies would have global implications for energy trade, altering US/China relations, the pace of Iran's oil recovery, trans-Atlantic...
US shale starts to return, but how sustainable is it?
June 08, 2020 07:00 - 10 minutes - 4.59 MBUS oil producers have started announcing plans for putting shut wells back online. But just how sustainable are these plans at current prices and with the uncertain global demand outlook? And how are OPEC and its allies going to view this returning US shale production as they're deciding how long...
What US shale will have to do to survive the demand shock and reinterest investors
June 01, 2020 07:00 - 19 minutes - 8.93 MBThe global oil demand shock is accelerating what was already coming to US shale, argues Adam Waterous, CEO of Waterous Energy Fund. Waterous argued in January on Capitol Crude that US unconventional production had peaked, and the industry's unstable financial footing set it up for massive capital...
Can Congress find room for fossil fuels and green incentives in stimulus talks?
May 18, 2020 08:30 - 23 minutes - 10.6 MBThe US House of Representatives has passed the $3 trillion HEROES stimulus package with barely a mention of the energy sector. The legislation is going nowhere in its current form after Senate Republicans dismissed it out of hand and President Donald Trump promised to veto it. So where is the...
Are banks freezing out the US upstream over climate or economic concerns?
May 11, 2020 22:30 - 20 minutes - 9.33 MBPlunging demand, collapsing prices and a reeling global economy are creating an extremely tough climate for the US upstream oil and gas sector. US Senator Dan Sullivan, Republican-Alaska, argues another factor is basically kicking the sector while it's down. Sullivan says some of the largest US...
Why US oil sector relief may require green energy dealmaking
May 04, 2020 06:00 - 15 minutes - 6.88 MBUS President Donald Trump has promised relief to the ailing oil and gas sector, and it's not yet clear if the recently expanded Federal Reserve lending program is the full extent of that aid. Democrats easily blocked the administration's first attempt to help drillers in the form of buying US crude...
US refiners defend surge of Saudi crude heading for US ports
April 27, 2020 06:00 - 17 minutes - 7.95 MBA surge of Saudi crude is heading for US ports, the result of the OPEC heavyweight slashing its April selling prices during the thick of its price war with Russia last month. Oil-state senators are calling on the White House to impose tariffs or other trade barriers to stop the deliveries. So far...
Sizing up oil demand recovery scenarios after a shocking spring
April 20, 2020 06:00 - 16 minutes - 7.51 MBWith the world locked down for the coronavirus, global oil demand is seeing its sharpest plunge on record. Current estimates have 2020 oil demand contracting by as little as 6.8 million b/d, as predicted by OPEC, to as much as 9.3 million b/d, according to the International Energy Agency. Still...
Has Trump found religion on low oil prices?
April 13, 2020 06:00 - 18 minutes - 8.59 MBPresident Donald Trump once saw gasoline prices below $1/gallon one of his greatest assets in his re-election campaign, but low oil prices have pushed US shale and American energy dominance to the brink of collapse and his views have changed. On this week's podcast, Bob McNally, president of...
OPEC returns as US price punching bag, but can any cut reverse price collapse?
April 06, 2020 06:00 - 15 minutes - 7.08 MBOPEC, primarily Saudi Arabia, has found blame for the recent price collapse, with calls from the US Congress for tariffs, import bans and sanctions. To start this week’s Capitol Crude, Senator Kevin Cramer, a North Dakota Republican, talks about his views on how the Saudis are trying to...
Oil-state senators tell Trump to turn up pressure on Saudi/Russian price war
April 01, 2020 21:00 - 17 minutes - 8.07 MBUS lawmakers from oil-producing states are trying to increase pressure on the White House to do something to help drillers getting hammered by plummeting prices -- from aggressive diplomacy to banning crude imports. We spoke with US Senator Lisa Murkowski, chairman of the Senate Energy and Natural...
With oil demand in free fall, Trump administration has few answers for US shale
March 30, 2020 06:00 - 16 minutes - 7.33 MBThe consequences of this will likely last years. In the midst of a price war, global oil demand is in a free fall. The spread of the coronavirus has left 3 billion people worldwide unable to get on a plane, drive to work or go anywhere, really, at all. In response, global oil demand is plummeting....
A price collapse breaks a fragile US shale sector -- can it be fixed?
March 23, 2020 07:00 - 9 minutes - 4.43 MBAs oil prices dipped to levels not seen in nearly two decades, US shale operators slashed budgets and rig counts and braced for a hellish few months, if not years. Is even a modest price rebound possible in the near term? Will Saudi Arabia and Russia return to talks over a new supply cut? Has the...
Will Trump's plan to fill the SPR be enough of a lifeline for US producers?
March 20, 2020 01:00 - 11 minutes - 5.26 MBUS Energy Secretary Dan Brouillette joined Capitol Crude hours after his department announced it was seeking an initial 30 million barrels of US crude oil to store in the country's emergency stockpile. This is part of President Donald Trump's pledge to fill the Strategic Petroleum Reserve "right...
US crude exports in the crosshairs of plunging oil demand, global supply glut
March 16, 2020 03:50 - 25 minutes - 11.7 MBThe fallout from the coronavirus and the collapse of the OPEC+ supply cut agreement have dealt US shale producers a massive blow. How the sector ultimately fares might depend on where US oil exports are headed. US crude exports climbed above 4 million b/d in the last week of February, but will that...
If the US no longer needs Saudi oil, does it need Saudi Arabia?
March 09, 2020 06:00 - 25 minutes - 11.5 MBThe relationship between the US and Saudi Arabia is ... complicated. For decades, the US has depended on the Saudis for crude oil exports and the Saudis have depended on the US for military protection. But US shale oil growth has changed all that. On this week’s Capitol Crude, Ellen Wald...
Oil supply disruptions are many, but demand rules prices
March 02, 2020 08:02 - 20 minutes - 9.16 MBSeemingly long-term US sanctions on oil flows out of Iran and Venezuela, a blockade in Libya with no end in sight, and even more production cuts from the OPEC+ coalition expected this week are adding up to a loss of roughly 6% of global supply -- but prices are cratering. Demand, specifically...
The future of liquid fuels in an energy transition
February 24, 2020 08:02 - 17 minutes - 8.09 MBAs investors and consumers demand more focus on sustainability, the oil industry is feeling the pressure. What will an energy transition mean for liquid fuel use, and will oil refiners be able to respond to radical shifts in demand in the coming decades? We spoke with Madhav Acharya, the...
A national climate policy or US energy dominance?
February 18, 2020 08:02 - 23 minutes - 10.9 MBEven with the Democratic candidate still uncertain, this November’s US presidential election presents two distinctly divergent paths forward for global oil policy, David Goldwyn says on today’s Platts Capitol Crude podcast. Goldwyn, president of Goldwyn Global Strategies and chair of...
Alberta pumps record oil output as premier looks to end supply cuts
February 10, 2020 08:28 - 26 minutes - 12.3 MBAlberta Premier Jason Kenney hopes to end his government's oil production curtailments this year as rail and pipeline capacity expand to handle the full supply. The province posted record-high oil production in December despite the curtailments, as exemptions for crude-by-rail shipments allowed...
Can Western companies save Venezuela’s oil sector? Do they want to?
February 03, 2020 09:00 - 17 minutes - 8.07 MBAfter more than a year of crippling US sanctions, Venezuela’s once-thriving oil sector is a shell of its former self: its output just a fraction of its peak, its state-run oil company toxic to international investors, its pipelines crumbling, its refineries closed. A new report from the...
After underwhelming investors for years, can oil companies boost shareholder returns?
January 27, 2020 09:00 - 26 minutes - 11.9 MBWhen it comes to total shareholder return, oil and gas companies have performed the worst of any industry over the past five years, according to a new report from the Boston Consulting Group. Oil price and geopolitical uncertainty, mistrust of management and the ongoing transition away from fossil...
After underwhelming investors for years, can oil companies boost shareholder return?
January 27, 2020 09:00 - 26 minutes - 11.9 MBWhen it comes to total shareholder return, oil and gas companies have performed the worst of any industry over the past five years, according to a new report from the Boston Consulting Group. Oil price and geopolitical uncertainty, mistrust of management and the ongoing transition away from fossil...
Where has the oil market's risk premium gone?
January 17, 2020 21:00 - 7 minutes - 7.1 MBRecord supply disruptions in an already well supplied market may have contributed to the departure of a true risk premium in the oil market, Paul Sheldon, chief geopolitical advisor with S&P Global Platts Analytics tells Platts Capitol Crude. On this week’s podcast, Sheldon says the risk...
Is peak Permian output nearing as capital flight risk looms?
January 13, 2020 07:00 - 20 minutes - 17.5 MBAs rising US oil production allows the Trump administration to rewrite foreign policy, what if projections for its continued growth are wrong? Adam Waterous, CEO of Waterous Energy Fund, thinks North American oil and gas producers face severe capital flight risks in the coming years that could...
Soleimani has been killed, how will Iran respond?
January 03, 2020 23:00 - 17 minutes - 16.8 MBCrude prices have surged, Iran has vowed revenge and analysts expect another attack on energy infrastructure in the Middle East, potentially impacting global oil supply significantly in the near term. On this Platts Capitol Crude we talk to Behnam Ben Taleblu, a senior fellow with the Foundation...
Should the US government spend much, much more on carbon capture?
December 30, 2019 08:00 - 14 minutes - 13.9 MBCarbon-capture projects are not economically viable at the moment and will need a major increase in government spending for wide-scale deployment, says John Minge, former chairman and president of BP America. On today’s Platts Capitol Crude, Minge talks about the policy changes needed,...
Sizing up the oil market's top geopolitical risks in 2020
December 23, 2019 08:00 - 24 minutes - 23.4 MBThe oil market is closing out 2019 with a smaller geopolitical risk premium despite the September attack on Saudi Arabia's Abqaiq facility exposing a staggering supply vulnerability. Greg Priddy, Stratfor's director of global energy and Middle East, argues the oil market can no longer hold onto a...
As majors move in, US shale’s growth spurt ends
December 16, 2019 08:00 - 19 minutes - 16.9 MBUS oil producers seem to be at an inflection point, where efficiency gains are waning, output growth is slowing and capital is drying up, Antoine Halff tells Platts Capitol Crude. On this week’s episode, Halff talks rig counts, well completions and flaring, the likely impact of deeper OPEC...
Will OPEC+ stick to its latest oil production cuts?
December 09, 2019 08:00 - 6 minutes - 6.25 MBOPEC, Russia and its nine other oil-producing allies have agreed to fresh supply cuts, but how much compliance will they achieve in the next three months? Former Capitol Crude host Herman Wang returns with details of the deal struck in Vienna on Friday. The contentious talks featured a walkout by...
All volatility is local: The government’s response to oil busts
December 02, 2019 08:00 - 12 minutes - 11.4 MBThe US shale oil boom has been heralded as an economic windfall for small towns from New Mexico to North Dakota. But it has also strained local public services, putting a toll on education, infrastructure and housing, while leaving many communities more susceptible to the boom and bust nature of...
Is the trade dispute with China hurting US oil export growth?
November 25, 2019 13:00 - 6 minutes - 6.86 MBAs US crude oil exports surge above 3 million b/d, is the US-China trade dispute inhibiting growth? Can US crude oil exporters survive without access to the world's biggest demand market? On today's Platts Capitol Crude, we talk to Jacques Rousseau, managing director with ClearView Energy Partners,...
North Dakota’s record oil growth to be upended by flaring rules
November 18, 2019 07:00 - 19 minutes - 17.9 MBOn today’s Platts Capitol Crude, Lynn Helms, director of the North Dakota Department of Mineral Resources, says Bakken oil output will continue to break records into 2020, but enforcement of gas capture rules will hinder growth, potentially for years. Helms, North Dakota’s top oil and...
Has the oil market found balance?
November 11, 2019 07:00 - 11 minutes - 10.9 MBAfter the Abqaiq attack, OPEC+, trade fights, and the ongoing record growth of US shale, oil prices are, basically, right where they were a year ago. Are supply and demand aligned? Is the oil market actually balanced, or at least as balanced as it will ever be? At the US Association for Energy...
The great Permian oil production slowdown of 2019
November 04, 2019 07:00 - 17 minutes - 15.4 MBUS oil producers are bracing for a tough end to 2019: flat prices, falling rig counts, slower drilling permits and fewer well completions. Karr Ingham, a petroleum economist from Amarillo, Texas, and the executive vice president of the Texas Alliance of Energy Producers, says those factors will not...
Democrats' fracking ban proposal already having impact on US energy investment
October 28, 2019 07:00 - 18 minutes - 15.9 MBThe 2020 fight over energy policy is just getting started, and investors already have a bad case of heartburn over Democratic presidential candidates' proposals to ban all fracking in the US. Katie Bays, who advises institutional investors as co-founder of Sandhill Strategy in Washington, joins us...