This site uses cookies to ensure you get the best experience. Learn more

Sign up or log in to follow your favorite podcasts and listen to episodes!

Capitol Crude: The US Oil Policy Podcast

S&P Global Platts
347 episodes
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.

Disclaimer: the content and artwork of this podcast are the property of its owner and are not affiliated with nor endorsed by Audiotrails.

US pipelines wake up to cyberthreats after Colonial shutdown exposes vulnerabilities

Will the cyberattack that forced the largest US oil pipeline to shut down for days be a wake-up call for the industry to rapidly shore up its cyber defenses? On this special episode, we have two interviews from cybersecurity experts. Both say they were not entirely surprised by the attack on the …
26min

ESG pressure builds on energy sector as investors, lawmakers raise climate goals

Just how realistic are the ESG goals being set each quarter by US energy producers in the face of rising pressure from investors, banks and the government to become more environmentally sustainable? The Biden administration has ushered in new climate priorities across the government, including th…
21min

Will Biden’s review of oil, gas leasing turn into a drilling ban?

The US Interior Department has approved more than 500 drilling permits on federal lands and waters since January, despite the Biden administration's halt to new lease sales. The agency has not said when it might resume leasing, other than canceling any sales through June. Producer-state senators …
15min

Battered North Dakota oil sector awaits Dakota Access ruling, Interior leasing review

The Dakota Access Pipeline returns to court today for a pivotal hearing. The Biden administration has been asked by the federal judge in the case to disclose whether it supports an immediate shutdown of the pipeline while the Army Corps of Engineers conducts a new environmental review. We spoke w…
13min

Biden climate goals ignore oil demand outlook: Louisiana Senator Cassidy

Louisiana sits at the crossroads of US climate policy, from experiencing some of the earliest effects of rising sea levels and changing weather patterns to depending on fossil fuels for economic growth. We spoke with US Senator Bill Cassidy, Republican-Louisiana, about how the Biden administratio…
15min

Changes to pricing, regulations key to boosting oil production in Argentina

Argentina's oil production has been on the rise this year, recovering from the demand and price impacts of the coronavirus pandemic. Oil output climbed to 492,000 b/d in February, up from 446,000 b/d in May. While that was still down from 520,000 b/d in March 2020, market watchers appear confiden…
25min

Opportunity zones offer benefits for US producers, investors

Opportunity zones are tax-advantaged investment vehicles that grew out of the Tax Cuts and Jobs Act of 2017 to bring economic redevelopment to impoverished areas. For the oil and gas industry, opportunity zones can benefit producers and investors. US Energy Development, a small upstream produce…
18min

Lopez Obrador looks to unwind Mexico's energy reform

The administration of President Andres Manuel Lopez Obrador in Mexico came to power with the promise to undo the energy reform of his predecessor, which opened the private sector to investment. During the last 18 months, the government has issued agreements, decrees and regulations in its strateg…
22min

Tellurian's CEO on the proposed Driftwood project, energy transition and the future of LNG

The dearth of newly sanctioned LNG export projects in 2020 and so far in 2021 — especially in North America, which has been responsible for the majority of new LNG supply globally over the last five years — is a worrisome sign for the market that could lead to more price volatility in the future. …
30min

Meridian Energy CEO looks to balance refining needs with ESG concerns

Environmental, social and governance considerations have becoming pressing issues among refiners in today's net-zero carbon world. While other refiners and oil companies are starting to embrace ESG, it has been a key part of Meridian Energy's strategy since 2013, when the company was formed. We…
16min

Mexico aims to make a revitalized Pemex an engine for economic development

Mexican production of crude oil has declined continuously since reaching a peak in 2004. Since then, the government has tried to bring back production while keeping revenues steady. President Andres Manuel Lopez Obrador has embarked on a new quest to rescue Pemex, whose waning revenues have been …
24min

CERAWeek conversations put focus on energy transition

Conversations at this year's CERAWeek by IHS Markit, held virtually this year after being canceled in 2020 due to the pandemic, were wide ranging, although energy transition was often the main topic.
16min

Panama Canal seeks solutions to congestion as wait times increase

As the shortest route from the US Gulf Coast to East Asia, the Panama Canal has emerged as a key fixture in global trade flow dynamics. We spoke with Ricaurte Vásquez Morales, administrator of the Panama Canal Authority, who has been working to reduce congestion of the canal, which has grown in p…
22min

Severe winter storms deal a blow to much of US oil, gas production

For the past several days, much of the producing states of Texas and Oklahoma have been gripped by sub-freezing temperatures, ice storms and snow. Today we talk with Parker Fawcett, North American supply analyst for S&P Global Platts Analytics, to discuss the impact of the severe weather on US oi…
21min

Uinta Basin project looks to reverse declining production of Utah's waxy crude

The Uinta Basin in Utah is the producing area of the US Rocky Mountains. Its production has declined in recent years for two reasons: the region's isolation and the gooey, waxy crude produced from it. We spoke with Mark Hemphill, senior vice president for the Rio Grande Pacific Corp. He is projec…
19min

Biden's decision to rejoin Paris Agreement complicates US-Mexico relationship on energy

US President Joe Biden make good on his campaign promises and rejoined the Paris Agreement upon taking office, a move that has huge implications for Mexico in particular, given the current energy strategy of the government, which focuses on fossil fuels. We spoke with Aldo Flores-Quiroga, senior …
17min

The Biden presidency, geopolitics and the impact on oil markets

Apart from simple supply and demand, nothing impacts oil markets as much as geopolitics. Former President Donald Trump did everything he could to load up sanctions on countries like Iran and Venezuela in order to cut down on their crude exports. Now we'll see what President Joe Biden might do and…
17min

Biden's inauguration ushers in big changes in US energy policy

President Joe Biden's inauguration was particularly momentous, including for energy companies and markets. A flurry of executive actions were signed just hours after Biden took the oath of office, and against that background there are big changes underway in federal policy. Oil, natural gas and ene…
24min

Tested by plummeting demand, storage sits at the heart of oil pricing

Today we are looking at oil storage trends. Oil storage sits at the heart of oil pricing, and a lot has happened in this arena over the last year, mirroring crude and product markets. Ahead of S&P Global Platts' Oil Storage Virtual Conference, to be held January 21, we talked with two experts in …
26min

A look at North American LNG with Tellurian's Charif Souki

Today we are examining the outlook for new North American liquefaction projects to be sanctioned in 2021 amid a virtual standstill in 2020. The recent runup in the Platts JKM has buoyed developers, but challenges remain. S&P Global Platts natural writer Harry Weber spoke with Charif Souki, co-f…
31min

Energy policy poses challenges, opportunities for Biden's first 100 days

The 2020 US elections were arguably the most consequential of our time. Among the many issues that drove voters to choose one candidate over another was energy. Oil, natural gas and the energy transition all were at play, and now the incoming administration of President-elect Joe Biden will be expe…
22min

What the OPEC+ deal means for market volatility, US crude production

Earlier this year the oil market suffered a historic price collapse as pandemic-blunted demand left the world awash in crude. Against this background, the OPEC+ group in April agreed to is deepest-ever production cuts. The agreement was largely successful in fostering a recovery in oil prices thr…
23min

As production falls, the bearish case for US oil

US crude output fell this year in response to low demand stemming from the coronavirus pandemic. Production has held at around 10.5 million b/d to 11 million b/d since late October, according to the US Energy Information Administration. But that is down roughly 2 million b/d on the year, and ma…
26min

US midstream faces challenges from politics, pandemic

The presidential election is over, and the results are being certified. President Donald Trump may keep contesting votes in court, but we’re expecting the beginning of the Biden administration come January. Today we look at the state of the midstream oil sector amid an ongoing pandemic and an upc…
29min

California's clean car ambitions clear first roadblock with Biden win

California and its clean car ambitions had a lot riding on the US presidential election. The state's Air Resources Board spent the Trump presidency fighting with the US Environmental Protection Agency about its rollback of Obama-era tailpipe standards, which were set to increase average fuel econ…
22min

Pandemic increases urgency of oil and gas workforce's digital skills gap

The US oil and gas sector is facing several huge transitions all at once: the immediate crisis brought on by the pandemic and a longer-term energy transition away from fossil fuels. Today we're looking at a third shift confronting the US upstream: digital transformation and the need for the oil a…
19min

US energy outlook under Biden White House as Senate control still undecided

Joe Biden is now officially president-elect after securing a win in natural gas-rich Pennsylvania despite the fight over fracking we've heard so much about these last long weeks. S&P Global Platts Analytics predicts a muted production impact if Biden bans new federal drilling permits, putting …
21min

Key changes for energy markets in US elections, but economy looms over all

Dozens of highly consequential energy issues are at play in this week’s US elections, ranging from who will occupy the Oval Office for the next four years, to who will fill the last open seat on the Texas Railroad Commission. But overhanging all of this is a US economy crippled by the ongoing pan…
19min

Oil market stakes in US election: Middle East, Venezuela, climate policy

It's Election Day in the US, and at a lot is at stake in the energy sector for the next four years. We're revisiting three key policy areas that could shift direction depending on today's vote: * US policy in the Middle East and Washington's relationship with OPEC, with Amy Myers Jaffe, researc…
24min

A Biden victory could have big impact on US-Mexico relationship

A victory by Joe Biden in the US presidential election could have a big impact on the US-Mexico relationship and might even force the Mexican administration to change course on its energy goals. Mexico's energy policy is currently focused on fossil fuels, despite having international commitments …
17min