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Capitol Crude: The US Oil Policy Podcast Archive

June 2018

US casts big shadow over OPEC meeting

June 18, 2018 (9:14)

We talk to the last US official to attend an OPEC meeting, Kent Hance, a former US congressman; and Amy Myers Jaffe, director of the Energy Security and Climate Change Program, on the role OPEC can have in propping up Venezuelan crude supply or protecting Iran from the impacts of the US exit from the nuclear deal.

What will impact global oil the most: Venezuelan crude collapse or US nuclear deal exit?

June 08, 2018 (23:29)

Jane Nakano, a senior fellow with the energy and national security program at the Center for Strategic International Studies, joins Capitol Crude to talk about energy trade between the US and China and where it's headed.

A trade war between the US and China is brewing, but what role will US crude oil exports play?

June 04, 2018 (13:56)

Jane Nakano, a senior fellow with the energy and national security program at the Center for Strategic International Studies, joins Capitol Crude to talk about energy trade between the US and China and where it's headed.

May 2018

US Navy's fuel-innovation efforts may never get serious without $100/b oil

May 30, 2018 (13:56)

Faced with staggering oil costs, the US Navy once launched an effort to innovate how it fuels its fleet with biodiesel and other alternatives. But without $100/b oil, the innovation effort may never get serious, according US Navy Admiral Jonathan Greenert. Part 2 of 2.

Iran, global maritime security and the US role in policing international waters

May 29, 2018 (21:56)

US Navy Admiral Jonathan Greenert, the Chief of Naval Operations from 2011 to 2015, talks Iran, global maritime security and the US role in policing international waters. (Part 1 of 2.)

Oil piracy, sanctions busting and petroleum’s black market

May 21, 2018 (18:19)

Ian Ralby, founder and CEO of I.R. Consilium, and David Soud, head of research and analysis at I.R. Consilium, discuss the state of illegal maritime trade of crude and refined products.

Iran sanctions and the showdown in East Asia

May 14, 2018 (14:05)

US sanctions against Iranian oil buyers go back into force in early November, but much is unknown about how the Trump administration will review requests from countries seeking sanctions relief. Elizabeth Rosenberg, director of the energy program at Center for a New American Security, helps us sort out those uncertainties.

EPA, California collide over fuel economy rules

May 07, 2018 (7:07)

John Gioia, a commissioner on the California Air Resources Board, joins Capitol Crude to talk about what California and 16 other states expect to accomplish with its lawsuit against the EPA and whether rising oil prices will play a role.

April 2018

Iraq’s oil sector ambitions in the Trump era

April 30, 2018 (11:21)

Iraq Oil Report’s Ben Lando, founder and publisher, and Ben Van Heuvelen, editor-in-chief, join Capitol Crude to talk about the state of Iraq’s upstream, Russia's growing presence there, and what the names Mike Pompeo and John Bolton mean to officials in Baghdad and Erbil.

Lightning round of oil supply risks: Venezuela, Syria, Iran, China

April 23, 2018 (15:58)

Analysts Joe McMonigle of Hedge Risk Management and Kevin Book of ClearView Energy Partners discuss geopolitical risks flaring up across the globe -- Venezuela, Syria, Iran, China -- raising the prospects of oil supply disruptions.

How did New Mexico become the US’ third-biggest crude oil producer?

April 16, 2018 (07:41)

EIA analysts Jeff Barron and Mason Hamilton talk about what's happening in New Mexico, why US crude is getting lighter, and what it all means for US refining and exports. Second of two parts.

North American Oil and Product Flows, Part 1

April 09, 2018 (07:46)

Mason Hamilton and Jeff Barron, petroleum markets analysts with the US Energy Information Administration, discuss North American oil and refined product flows.

Should the US government stockpile gasoline and jet fuel?

April 02, 2018 (11:04)

As the US continues to sell off barrels from its crude oil stockpile, a new report argues the Trump administration should start building reserves of gasoline, jet fuel and other refined products.

March 2018

Trump, the Crown Prince and a shifting oil relationship

March 26, 2018 (13:16)

Matt Reed, vice president of Foreign Reports, talks about the Saudi Crown Prince Mohammed bin Salman’s trip to the US. How has the relationship between the two nations shifted?

Where is Venezuela’s rock bottom?

March 19, 2018 (18:43)

Francisco Monaldi of Rice University's Baker Institute for Public Policy talks about Citgo’s future, the likelihood of additional US sanctions and what a PDVSA default means for the world market.

Is US energy dominance hurting foreign relations?

March 12, 2018 (08:16)

On the sidelines of CERAWeek, Capitol Crude talked with officials and analysts on how the US’ evolving role in the global oil market is changing how it views the rest of the world and how the rest of the world views the US.

Live (again) from CERAWeek: Pipeline and port capacity constraints in Texas

March 06, 2018 (12:04)

The shale play is seeing the most explosive growth in the world, but could a lack of pipeline and port capacity hinder future output?

Live from CERAWeek: Texas regulator sees Permian output hitting 7 million b/d

March 05, 2018 (14:36)

On this special episode, we’re talking Permian output, which the International Energy Agency said Tuesday will fuel 40% of global oil supply growth over the next five years.

February 2018

White House chaos: A Trump adviser on oil policy, energy dominance and Twitter diplomacy

February 20, 2018 (21:41)

In part two of our interview, George David Banks talks Trump's domestic energy policy, including the potential for reform of the RFS, the meaning behind energy "dominance" and the administration’s efforts to erase Obama’s environmental legacy.

How is Trump administration crafting sanctions so as not to adversely impact US refiners?

February 20, 2018 (22:10)

The Trump administration is considering sanctions on Venezuelan oil exports, but is worried they could bankrupt a refinery along the US Gulf Coast, George David Banks, top energy adviser to President Donald Trump tells Platts Capitol Crude.

What chance Permian becoming the poster child for US shale?

February 12, 2018 (12:55)

US oil output is already shattering records and, fueled by dramatic growth in the Permian, is expected to exceed 11 million b/d by late this year.

The US' shifting role in the global oil market

February 05, 2018 (24:01)

US oil output has exceeded 10 million b/d for the first time since 1970. What does this mean for diplomacy, sanctions and trade policy?

January 2018

Examining Florida's exemption from the US oil and gas drilling plan

January 29, 2018 (09:23)

Capitol Crude looks at the Trump administration’s plan to open nearly all federal waters to oil and gas drilling and Interior Secretary Ryan Zinke’s sudden and unusual decision to exempt Florida from the proposal.

What are the implications of China's first crude oil futures contract?

January 22, 2018 (12:56)

On this week's Capitol Crude podcast we look at the implications of China’s first ever crude oil futures contract, expected to be launched in late March.

Is oil headed to $80/b?

January 15, 2018 (14:11)

Capitol Crude talks to Gary Ross about the impact the Trump administration is having on the global oil market, the potential peak for US oil output, the future of US oil exports and the impact that the OPEC supply cut deal is having on US operators.

The great ANWR mystery: How much oil is really there?

January 08, 2018 (10:16)

In 1986, Chevron, BP and two Alaska Native corporations drilled a single well about 15 miles from the remote Alaska village of Kaktovik. But the well’s results have remained top secret.

December 2017

Capitol Crude's oil price and policy outlook for 2018

December 18, 2017 (15:08)

Where are oil prices, supply and demand heading in 2018? And how will Washington policy shape oil markets?

US producers fight federal rules limiting methane from oil, gas operations

December 18, 2017 (10:12)

Capitol Crude looks at US producers continuing fight against federal rules limiting methane emissions from oil and natural gas operations.

Permian drillers may turn to recycled water to cut costs

December 11, 2017 (13:29)

Capitol Crude gets a crash course in geology to understand the potential for Permian Basin operators to use recycled water when drilling wells.

Bahrain's view of the global oil market, OPEC and the US

December 04, 2017 (12:04)

Capitol Crude talks with Sheikh Mohammed bin Khalifa al-Khalifa, Bahrain’s oil minister, who sees a major crude supply crunch looming in the global market as investments dry up and US shale is likely to decline soon.

November 2017

Developing nations are one of the central deciders of the peak oil demand debate

November 27, 2017 (26:05)

Is peak oil demand a myth? Capitol Crude goes to Georgetown University to debate how electric vehicles, technology, policy and petrochemicals (and more) will influence whether demand for crude oil will peak around 2030.

Aiming for ANWR: Will the Alaskan area be opened to oil development?

November 20, 2017 (9:02)

After decades of debate, drilling for oil and natural gas in Arctic National Wildlife Refuge appears closer than ever, but there are a lot of open questions and moving parts.

US shale drillers are reacting faster and faster to rising oil prices

November 13, 2017 (15:32)

This week, Richard Newell, former EIA chief of the EIA and lead author of a study on US shale driller's price responsiveness spoke with us about what this new speed means for price volatility.

Restructuring debt in Venezuela may not be enough to revive its oil industry

November 06, 2017 (13:01)

Will Venezuela's oil sector — including PDVSA and Citgo — will be a help or hindrance as the country tries to restructure some of its crippling debt while also dealing with sanctions?

October 2017

Battle of the benchmarks: Should WTI be the global benchmark for oil prices?

October 30, 2017 (12:55)

US crude is now the most dynamic player in the global oil market, attracting investments from around the world and exporting to all corners of the market. So should WTI to usurp Brent as the global benchmark?

Oil industry faces more uncertainty and risk as US reevaluates Iran deal

October 23, 2017 (23:23)

The fate of the Iran deal has essentially been punted to the US Congress, so what is likely to happen (and not happen) as lawmakers evaluate a situation that could have impacts for global oil markets?

Made in America: Can the Jones Act and US energy exports coexist peacefully?

October 16, 2017 (18:50)

The 100-year-old Jones Act got a lot of attention after a brutal hurricane season, but what is its function today and could its role within the US energy industry change as crude oil and LNG exports increase?

Even US shale may not be able to save markets from an oil supply crunch

October 09, 2017 (16:50)

Investment cycles can give clues about future oil market shifts, and recent slow investments are pointing toward a global crude shortage and price upticks, Jonathan Chanis tells Capitol Crude.

If US reimposes sanctions, Iran's major oil consumers could sway success

October 02, 2017 (25:46)

What happens if the US reimposes sanctions on Iran's oil sector without the support of Europe, China and Russia — all big players in the international energy landscape?

September 2017

Energy abundance can be a boon to foreign policy, but is the US taking advantage of it?

September 25, 2017 (16:26)

Meghan O'Sullivan, author of ‘Windfall: How the New Energy Abundance Upends Global Politics and Strengthens America’s Power,’ talks to Capitol Crude about US energy independence, Rex Tillerson and energy diplomacy around the world.

The quest for 10 million b/d of US oil production

September 18, 2017 (8:42)

The US will produce an average 9.25 million b/d this year and the number will continue to grow over the next few years, according to the US EIA. What will determine whether — or when — that benchmark is reached?

What would an oil embargo mean to North Korea, which produces no petroleum?

September 08, 2017 (9:13)

Ahead of a possible United Nations Security Council vote Monday on an oil embargo to North Korea, Capitol Crude sits down with William Brown, an adjunct professor at Georgetown’s School of Foreign Service and an expert on North Korea.

Gruenspecht: EIA looks the US' oil future, even if 'there are no facts about the future'

September 05, 2017 (14:53)

The US EIA is losing its top career official, and Capitol Crude spoke with Howard Gruenspecht about Hurricane Harvey, US imports, crude and refined products before he departed.

August 2017

The US is an energy powerhouse, but in an increasingly interconnected, interdependent market

August 28, 2017 (17:58)

Capitol Crude celebrates its 150th episode with part two of a talk with Amos Hochstein, focusing on the future of the Iran nuclear deal and the radical changes in the relationship between US oil and gas producers and OPEC.

'Sanctions can work': Obama's top energy diplomat on the nuances of US oil, gas policy

August 21, 2017 (14:56)

US energy sanctions are back in the news with Russia and Venezuela, so Capitol Crude talks to someone who's been there, done that: Amos Hochstein, President Barack Obama's top energy diplomat.

The keys to Keystone XL success are in oil supply and demand, flows and prices

August 14, 2017 (11:03)

Do recent news events and future supply and demand justify the Keystone XL crude oil pipeline, even though prices and production have evolved considerably since it was first proposed?

Venezuela sanctions could squeeze margins, shift flows for US Gulf Coast oil refiners

August 07, 2017 (14:18)

If the US follows through with sanctions on Venezuela, it can affect a slew of issues for US Gulf Coast refiners and the global markets for crude and refined oil products.

July 2017

Making sense of sanctions: The US, Venezuela, Russia, energy and oil flows

July 28, 2017 (14:18)

The US Congress is working on placing new oil sanctions against Russia, and the Trump administration is poised to impose new sanctions on Venezuela's oil sector. How could it affect US refiners, producers and more?

'Reset does not mean rescind': RFA's Dinneen on proposed RVOs, the RFS and US biofuels

July 24, 2017 (22:09)

Bob Dinneen, president and CEO of the Renewable Fuels Association, speaks to Capitol Crude about the future the Renewable Fuel Standard, biofuels and the big topics at the pump in the era of Trump.

It's murky waters when considering expanded US offshore oil and gas drilling

July 17, 2017 (24:19)

The Trump administration is looking to expand drilling in federal waters in the Gulf of Mexico, Atlantic, Arctic an even the Pacific oceans. What are the challenges and prospects?

US producers and policymakers wrestle with the idea of energy dominance

July 10, 2017 (13:10)

The US has shifted from focusing on energy independence to energy security, and now energy dominance has risen to the forefront. But what does it mean and how is it achieved?

June 2017

The political and practical consequences of imposing new US sanctions on Russian energy

June 26, 2017 (22:35)

Newly proposed US sanctions on Russia target energy projects and provide new sanctions on mining and metals, but big questions remain about whether the sanctions will be passed into law or imposed.

What impact will Trump NAFTA talks have on oil and gas flows?

June 19, 2017 (10:36)

It remains unclear if oil, gas or energy more broadly will play a role in the upcoming NAFTA renegotiations, but the possible ramifications on the sector have already drawn concerns from Congress.

The US' nexus of national security and oil

June 12, 2017 (26:44)

Andrew Holland joins Capitol Crude to talk about how "energy is still a strategic, valued commodity" and key to national security as well as the security implications of the US pulling out of the Paris deal.

As US energy policy pendulum swings, Trump looks to Arctic and Atlantic drilling

June 05, 2017 (20:19)

Capitol Crude talks to Ali Zaidi, who served for eight years in the Obama administration, about an area where the economic and environmental concerns collide for the oil and gas industry: offshore.

May 2017

US driving toward the future of fuel economy standards, but which direction?

May 30, 2017 (11:00)

The Trump administration has reopened a review of 2022-2025 fuel economy standards, which have a major impact on the vehicles automakers produce and, arguably, a modest impact on petroleum demand in the future.

Following the flow of US crude oil around the globe

May 22, 2017 (16:55)

US crude exports are in their nascent stages, relative to the rest of the world. But data about the exports reveals how the crude is entering the market.

Is the global oil market chasing an 'almost-mythical' state?

May 15, 2017 (19:17)

Capitol Crude talks to some top players in the energy economics game to consider whether oil's perpetual quest for balance is possible and how it affects production and prices.

Let's make a deal: Can OPEC's oil output cuts continue as they are?

May 08, 2017 (19:38)

When OPEC reached its historic supply cut deal last year, Brent oil was trading for about $49/b ... and it still is. So has the deal been a failure, and what should the market expect from OPEC now?

April 2017

Pull no punches: The first 100 days of Trump's oil and energy policies

April 29, 2017 (26:35)

Capitol Crude takes an environmentalists vs. industry look at President Donald Trump's first 100 days in a debate over oil, natural gas and coal use, drilling, pipelines, climate change and more.

Oil refiners and renewable fuels in the Trump era

April 24, 2017 (14:24)

Have oil refiners' hopes for a quick rollback of the US biofuel mandate by the Trump administration fizzled out? The administration's first 100 days are nearly over.

US policy pressures on oil prices shift as inventories reach a new norm

April 17, 2017 (28:42)

How much of an impact are President Donald Trump's policies having on day-to-day trading within oil markets? And what about future regulations?

Is a 'decade of disorder' ahead for global oil markets?

April 10, 2017 (12:17)

Low oil prices and a lack of upstream spending are fueling a looming, worldwide supply crisis for the 2020s, some oil industry experts say.

Take 10: Have a break, backtrack and tally up what Trump has done for energy

April 03, 2017 (10:00)

Trump came into the White House promising a new revolution for domestic fossil fuel producers. But have his policy efforts, including last week’s Energy Independence Executive Order, lived up to the hype?

March 2017

The US isn't the only partner available to assist in Mexico's hydrocarbon reforms

March 27, 2017 (25:18)

Capitol Crude looks to Mexico, where reform is upending the energy sector at a time when its relationship with the US could be on the cusp of a change.

Slow US pipeline safety reforms get caught in presidential transition

March 20, 2017 (21:46)

How safe are US pipelines seven years after the fatal natural gas pipeline explosion in San Bruno, California, and the 20,000-barrel heavy crude spill in Marshall, Michigan?

Is the OPEC/non-OPEC deal proving to be a boon for US shale oil producers?

March 13, 2017 (7:26)

Capitol Crude talks with BP and North Dakota’s top oil and gas regulator about US shale oil’s response to the OPEC/non-OPEC agreement.

Sizing up Trump's oil and energy policy initiatives from the Bone zone

March 06, 2017 (13:23)

Ken Bone, the man behind the internet's most famous red sweater and a worker in the energy industry, shares his thoughts about President Donald Trump's energy policy path so far.

February 2017

Production and corruption: US oil and regulations about transparency

February 27, 2017 (20:35)

Capitol Crude talks with Jana Morgan, director of Publish What You Pay - US, on the likely fate of an anti-corruption rule with impacts on multinational oil, gas and mining companies.

Permian production, US crude exports have midstream companies battling for barrels

February 21, 2017 (12:40)

The Texas Gulf Coast is gearing up to handle more US oil production and a potential rise in US crude exports, but pipeline capacity already outstrips the area's refining capacity.

What the FERC? How a lack of quorum could affect US oil and natural gas

February 13, 2017 (10:18)

The US FERC lost its quorum on February 3 and slipped into regulatory chaos. What does it mean for pipeline permitting and oil shipping rates and what does it say about partisanship in Washington?

The US State Department, the South China Sea and summer oil drilling season

February 06, 2017 (14:19)

Former ExxonMobil CEO Rex Tillerson has started his new job at the US State Department, and Capitol Crude considers how he may approach long-simmering tensions in the South China Sea.

January 2017

Will Trump's energy policy erase Obama's climate legacy?

January 30, 2017 (19:59)

President Donald Trump has moved in to the White House and has already begun what many believe will be a major shift in US energy policy.

US crude oil, gasoline markets share their anticipations about Trump

January 23, 2017 (15:42)

Capitol Crude travels to Texas to discuss the impact President Donald Trump may have on US crude oil supply and gasoline demand.

What does it take to keep oil prices stable?

January 17, 2017 (38:52)

Robert McNally, author of the new book 'Crude Volatility: The History and the Future of Boom-Bust Oil Prices' joins Capitol Crude to talk about the history — and future — of crude oil prices.

It's not the US EIA that's crazy; it's oil markets that are

January 09, 2017 (37:04)

About two weeks before he plans to step down, Adam Sieminski, head of the US EIA, talks to Capitol Crude about future oil prices, the path of US production and global demand.

December 2016

John Hess on the 'new chapter' for oil prices, US shale production

December 19, 2016 (10:44)

Many are watching US oil producers after the deal between OPEC and non-OPEC producers and Donald Trump's election, and John Hess, CEO of Hess Corporation, shares his thoughts about the future of US shale.

Global oil markets and effects on US energy security, independence

December 12, 2016 (19:58)

Energy independence is a goal for many when it comes to US energy security, and the future of both is influenced by both politics and complicated global energy markets.

Trump administration could be a bend in the road for biofuels blending

December 05, 2016 (4:08)

Total renewable fuel is slated to break through the so-called blend wall in 2017, but how will a new presidential administration affect targets for the Renewable Fuel Standard?

Phone a friend: OPEC calls for oil output cut with non-member assistance

December 01, 2016 (6:15)

In a special episode of Capitol Crude, Brian Scheid calls former podcast co-host Herman Wang in Vienna to get the details of OPEC's historic decision to cut production.

November 2016

All eyes on OPEC as oil producers hope for higher prices

November 28, 2016 (20:30)

What are the best and worst scenarios from the upcoming OPEC meeting for Saudi Arabia, Iran, Iraq, Russia, the US and other crude producers?

Could we yet witness Keystone XL pipeline return from the dead?

November 21, 2016 (16:55)

After being buried in the White House policy graveyard by President Obama, the Keystone XL pipeline is back from the dead following Donald Trump's election win... or is it?

Trump’s presidential win and its potential impact on US-Russia energy relations

November 14, 2016 (8:29)

Senior editors Meghan Gordon and Brian Scheid share analysts' views on how President-elect Donald Trump might handle US sanctions against Russia.

US oil industry waits for policy details after Trump triumphs

November 09, 2016 (8:03)

In a special post-election episode of Capitol Crude, senior editors Brian Scheid and Meghan Gordon look at what impact Republican Donald Trump’s victory will have on US oil policy and markets.

October 2016

Rich in reserves, Venezuela struggles to manage its oil wealth

October 31, 2016 (18:01)

Venezuela has more proven crude oil reserves than any other country, yet hundreds of thousands of people are unable to buy necessities and are marching in the streets of Caracas.

'Quiet diplomacy': The US relationship with OPEC oil production

October 24, 2016 (12:01)

Former US Energy Secretary Bill Richardson joins Capitol Crude to detail the changing role of OPEC in the global oil market and oil diplomacy.

Environmentalists fight to forgo fossil fuels as US election spotlights production

October 17, 2016 (14:09)

The fight in the US between oil and gas producers and environmentalists has taken on a more urgent tone lately, in part due to the country looking ahead to a new president.

Post-Algiers prospects: What's really at stake when OPEC meets again in November?

October 10, 2016 (16:20)

This week’s Capitol Crude looks at the fallout from OPEC’s Algiers meeting and the prospects for rebalancing global oil supply and demand.

How US oil policy could change under a president Trump or Clinton

October 03, 2016 (21:01)

It’s Donald Trump, Hillary Clinton and crude oil on this week's episode as Capitol Crude looks at what the race for the White House means for US oil policy and global supply and demand.

September 2016

How shaken up is the US oil, gas industry by earthquakes' spike?

September 26, 2016 (12:05)

Brian Scheid and Meghan Gordon look at the spike in earthquakes in Oklahoma and neighboring states, areas that contributed to the US oil and gas boom.

Do the hustle: US oil imports, production and policy in the 1970s and today

September 19, 2016 (16:34)

It was an era of low US crude oil production, high prices, long gasoline lines and disco, and saw the advent of policies that shaped topics at the forefront of today's oil industry.

Keeping offshore oil production on track: The future of the Gulf of Mexico

September 12, 2016 (7:35)

Gulf of Mexico crude oil production is expected to grow -- even as US regulators are growing increasingly concerned about another major spill or loss of life from offshore safety.

Slickwater fracking: A spark to start the world's modern oil revolution

September 06, 2016 (12:15)

Nick Steinsberger revolutionized the production of oil from shale. Here, we chronicle his work and what the future holds for slickwater fracking.

August 2016

Back to basics: Adam Sieminski on global oil prices, fundamentals and more

August 08, 2016 (23:48)

In the 100th episode of Capitol Crude, Platts senior editor Brian Scheid talks with Adam Sieminski, administrator of the US Energy Information Administration, on the state of the global oil market.

Costs of new US Arctic regulations may cool offshore oil production plans

August 01, 2016 (16:39)

The Obama administration unveiled final regulations for drilling in US Arctic waters, but questions remain about the future of oil production there.

July 2016

Driving efficiency: Oil, cars and US gas mileage goals

July 25, 2016 (15:04)

Low oil prices means drivers can take advantage of cheaper gasoline. But is the changing vehicle fleet undermining government fuel efficiency targets?

The future of US fracking and finding who gets the final say

July 18, 2016 (12:37)

Fracking helped unleash a flood of new US oil and gas production, but it also brought a question: who, or what federal agency, has the power to regulate it?

US oil policy, told in barrels, big names and beats

July 11, 2016 (9:44)

Capitol Crude co-hosts Brian Scheid and Herman Wang couldn't get tickets to the Tony Award-winning musical "Hamilton," so they perform their own rap musical -- on oil policy, of course.

June 2016

Fearless forecast for 2020: 3-D printers, Taylor Swift... and a potential global crude oil shortage

June 27, 2016 (10:19)

Taking their cues from Conan O’Brien, Platts senior editors Brian Scheid and Herman Wang take Capitol Crude into the future – all the way to the year 2020, with predictions about Taylor Swift, 3-D printers, and a potential global oil supply shortage.

How to preserve the reserve: The US' SPR in the era of a global oil glut

June 20, 2016 (10:19)

The US' Strategic Petroleum Reserve needs a $2 billion makeover, but looming sales and a continuing global oil glut call into question how many barrels should be kept.

Everything you wanted to know about the US gasoline market (but were afraid to ask)

June 13, 2016 (17:50)

Preparing to drive to that summer vacation? Gasoline is one of the most recognizable oil products to Americans, yet what drives the market is unknown to many.

OPEC search continues for mechanisms to bring balance to oil markets

June 06, 2016 (16:30)

Now that the breaking news is winding down, Capitol Crude analyzes what the June 2 OPEC meeting means for the global oil market, US policymakers and US crude producers.

May 2016

We can work it out? As oil rebounds, Iran looks to sweeten nuclear deal

May 31, 2016 (11:50)

Recent complaints out of Tehran that the nuclear deal has yet to yield tangible benefits leaves questions about the future of the deal and what it would mean for oil.

Kurdistan turns to the US and others to help fund the future of its crude oil

May 23, 2016 (19:47)

Iraq's semi-autonomous Kurdistan region has been hard hit by the oil price plunge, but it is attempting to pull its oil industry out of the shadows and toward legitimacy.

What will Falih's appointment mean for US-Saudi energy relations?

May 16, 2016 (10:38)

The appointment of former Saudi Aramco CEO Khalid al-Falih to the post of energy minister heralds a new era.

Neighborhood watch: Venezuela and oil in the Americas

May 09, 2016 (10:45)

The state of the oil industry in Venezuela is having effects on the market in other parts of the 'neighborhood' -- like the US, Caribbean and Central America.

One oil industry, two opposing views and many reasons why crude prices move

May 02, 2016 (10:40)

Mr. Bull and Mr. Bear have tea with their friends and debate how oil markets will be affected by crude production, demand, economic growth, finances and more.

April 2016

Post-sanctions Iran's impact on OPEC and the global oil market

April 25, 2016 (14:21)

Iran's planned post-sanctions oil production path is colliding with crude market realities, keeping the country's production and exports from ramping up to meet initial expectations.

Low oil prices having a chilling effect on Alaska's economy

April 18, 2016 (9:02)

Oil revenues let Alaska cut dividend checks to its residents, but now oil prices are low and production is down. What kind of options does the state have to bolster its finances?

Is oil and gas production in the Gulf of Mexico facing a sea change?

April 11, 2016 (8:52)

Offshore oil and gas production has a long history in the Gulf of Mexico, but is industry interest in offshore production waning as public protests pick up?

World watches warily as US presidential candidates comment on crude oil

April 04, 2016 (12:05)

Donald Trump's proposal to ban US imports of Saudi Arabian crude appears unfeasible, but is the plan already damaging fragile ties with the Saudis and other overseas allies?

March 2016

Will meeting of oil producers upset expectations for global supply?

March 28, 2016 (14:33)

As basketball fans watch March Madness, the oil industry is wondering if there could be a big upset in store from a summit of OPEC and major non-OPEC producers in Doha.

Considering the future of Cuba's oil imports in light of US exports

March 21, 2016 (8:59)

As President Barack Obama leaves for his historic trip to Cuba, what could a potential end to the long-standing trade embargo means for US crude oil and petroleum products exports?

The hazards of Islamic State oil

March 14, 2016 (15:50)

Platts senior editors Brian Scheid and Herman Wang talk to Foreign Reports' Matt Reed to learn how IS oil is traded on the black market and who is buying it.

Welcome to the wide world of exports: The US' ability to turn loose oil

March 07, 2016 (9:35)

There's been a lot made of prices and economics when it comes to the US exporting crude oil, but what about the actual logistics and capabilities to export?

February 2016

The rocking and rolling of US oil production and prices

February 29, 2016 (16:38)

Rusty Braziel, CEO of RBN Energy, stops by to talk about some of the biggest influences on US shale producers at the moment, from OPEC to prices to technology and more.

The highway to high octane: Ethanol's attempts to gain ground in US gasoline

February 22, 2016 (10:54)

The US is likely to raise its gasoline octane standard over the next decade or so, which has the ethanol industry shifting its fight to become a preferred blendstock into high gear.

How financial flailings could affect the flood of US crude oil production

February 08, 2016 (10:42)

What does it mean for American oil supply and the policies around the oil industry when US crude producers are losing billions of dollars?

When opening the door to US crude oil exports lets other grades in

February 01, 2016 (12:35)

While American crude has started to trickle out on to the world market, cargoes of crude grades the US hasn t seen in years are beginning to appear in domestic ports.

January 2016

Peanut butter or hamburgers: How will US crude oil be received in Europe?

January 25, 2016 (11:37)

The market competition in Europe will be tough amid a changing refinery landscape; will exported US oil have what it takes to become Europe s American Idol?

Avoiding stolen oil and the purchasing power of the US

January 19, 2016 (16:26)

This week, Capitol Crude looks at tyranny, autocrats, violent coups, and a big question, who really owns oil.

Oil industry awaits Iran's Implementation Day, but don't be fooled by the name

January 11, 2016 (9:52)

Implementation Day of the Iran nuclear deal is potentially just around the corner, but lifted sanctions on Tehran's oil sector bring political risks with its opportunities.

December 2015

Ch-ch-ch-ch-changes: The effect of US crude export policy on climate goals

December 21, 2015 (13:31)

During the final Capitol Crude episode of 2015, we take a look at the effect of US crude oil production, consumption, and exports on climate goals.

Landmark deal from Congress could unleash US crude on global oil market

December 16, 2015 (6:07)

In a special breaking news episode of Capitol Crude, hear about the deal from Congress that includes an end to limits on US crude oil exports and what it says about future policy.

US oil policy, prices, and making the most of margins

December 14, 2015 (8:05)

When the world is awash with crude oil and prices have cratered over the past 18 months, can any federal policy make a difference to US producers?

Unofficially official: What OPEC's meeting means for US crude production and prices

December 07, 2015 (11:55)

Following the drama-filled OPEC meeting, Herman Wang and Brian Scheid detail the twists and turns of its Friday announcement about oil production.

November 2015

US-China diplomatic ties and the South China Sea territorial dispute

November 30, 2015 (12:53)

George David Banks drops in to talk about the impact US oil production and export policy is having on diplomatic relations with China and the South China Sea territorial dispute.

What could happen to an American oil market in Paris

November 23, 2015 (6:32)

It's the Marcia, Marcia, Marcia moment: Everyone's talking about the Paris climate talks and their impact on power markets, but what about oil markets?

Ready your buzzers to answer the US oil policy news quiz

November 16, 2015 (8:56)

Capitol Crude Conundrum, America's favorite US oil policy game show, asks about the Keystone XL pipeline, sales of oil from the SPR, and the oil swap with Mexico.

Everything's bigger in Texas, including US crude and condensate export questions

November 09, 2015 (10:15)

From deep in the heart of Texas, Platts' Brian Scheid and Matt Cook talk about US crude oil and condensate exports and Houston sprawl.

US shale boom: a diplomatic game-changer

November 02, 2015 (9:43)

Brian Scheid and Herman Wang examine how the surge in US oil and gas production has put pressure on countries like Iran and Russia, as US diplomats are able to go into negotiations with greater leverage.

October 2015

Like Hoth plus politics: Lease sales for US Arctic oil drilling frozen

October 26, 2015 (10:42)

There are no Ewoks in this third installment, but Herman Wang and Brian Scheid complete their trilogy on US offshore oil and gas policy by examining the cancellation of future US Arctic lease sales.

Reforming the Jones Act on safety is anything but smooth sailing for US oil

October 19, 2015 (9:38)

The US' Jones Act and its impact on offshore oil production in the Gulf of Mexico is causing federal agencies to go public with their concerns.

Ozone debate between oil industry, environmentalists propels Congress to the outer limits

October 12, 2015 (9:23)

Assessing the US EPA's NAAQS for ground-level ozone, which sees the air pollution limit lowered from 75 ppb to 70 ppb, drawing protests from the oil and gas industry and environmental groups alike.

A successful failure? What Shell pulling out of Alaska means for US Arctic oil production

October 05, 2015 (8:42)

After seven years and $7 billion, Shell's decision to abandon pursuing oil and gas drilling in the Arctic surprised many and could impact future E&P in the region.

September 2015

The American West, a home to US oil and the bird that's driving them cuckoo

September 28, 2015 (8:33)

The bald eagle is the national bird, but the bizarre greater sage grouse is the poster-bird for the relationship between the US oil and gas industry and undeveloped land.

Could US crude oil export policy be Keystoned?

September 21, 2015 (9:05)

Platts senior editors look at the risks of the possible US export policy issue getting swallowed up by partisan bickering and hollow debate.

Index for crude oil's climate impact illuminates what's behind the barrels

September 14, 2015 (18:32)

Producers and consumers alike are becoming more attuned to the impact of goods of all sorts, and it's no different when it comes to a barrel of oil.

August 2015

Global spare capacity sources: Should idled US shale oil wells count?

August 31, 2015 (11:58)

Platts senior editors duel over the notion of idled US shale oil wells contributing to global spare capacity, with implications for future price projections.

Considering how low oil can go before the Bakken goes bust

August 24, 2015 (8:42)

North Dakota's Bakken Shale embodies much of the best of the US' oil revolution and has been a success in spite of global oil market fundamentals.

California scheming: How are refiners, traders reacting to changes in LCFS rules?

August 17, 2015 (10:29)

Platts seniors editors tackle the Low Carbon Fuel Standard and whether California will be able to reach its goal of a 10% reduction in the carbon intensity of its transportation fuels by 2020.

Can combating climate change coexist with increased US oil production?

August 10, 2015 (13:35)

Platts senior editor Brian Scheid tackles a question that's key to the Obama administration: Whether the administration's climate goals are at odds with the ongoing shale boom.

Major energy reform approaches the goal, but will it score points for oil issues?

August 03, 2015 (9:35)

Platts senior editors Brian Scheid and Herman Wang slide tackle their way into the bipartisan, comprehensive US energy bill passed out of the Senate Energy and Natural Resources Committee last week.

July 2015

Looking forward to the next year of US crude oil news

July 27, 2015 (10:18)

On the 50th episode of Capitol Crude, Brian Scheid and Herman Wang look back at their year in podcasting and revisit some of the hottest oil topics to see what's changed and what's new.

What's next for Iran and the world's oil supply, prices and politics

July 20, 2015 (18:26)

Platts looks at how much Iranian crude could hit the market and when, which markets it could go to, what could happen to prices, and what it means for policy.

Too late or too soon? US crude export debate tries to time a chance for change

July 13, 2015 (13:05)

Time is of the essence when it comes to opening up US oil exports . . . or is it? Brian Scheid details why a vote on the issue could be coming soon.

US DOE's Kenderdine on what the funk is happening to the SPR

July 06, 2015 (18:11)

It was a year of Star Wars, funk, Reggie Jackson and Saudi Arabian crude arriving in the US Strategic Petroleum Reserve. From 1977 until today, the US' place in the oil market has come a long way.

June 2015

Obama administration aiming high to regulate aircraft emissions

June 29, 2015 (9:31)

Come out of your tinfoil bunker: The Obama administration's recently announced plans to regulate commercial aircraft emissions, but any effects would likely be years in the future.

Jurassic trains park the brakes on crude crossing the mainland

June 22, 2015 (7:57)

Did the Obama administration turn a T-Rex of a problem into an Indominus Rex of a problem, by requiring electronically controlled pneumatic brakes on oil trains?

Call now and we'll double your offer: Selling oil from the SPR

June 15, 2015 (10:09)

Is a new plan by Congress to sell 64 million barrels of crude from the US Strategic Petroleum Reserve like a get-rich-quick scheme that's just too good to be true?

US oil production picking at OPEC's problems

June 08, 2015 (12:55)

The US isn't a part of OPEC, but the US and its shale oil boom were still on people's minds at the conference and summit in Vienna last week.

Shell's summer oil drilling plans in Arctic get frosty reception from environmental groups

June 01, 2015 (8:38)

Summer is starting, and Shell is planning to drill for oil offshore Alaska, much to the chagrin of environmental groups. Grab your sunscreen as Herman Wang and Brian Scheid discuss the ins and outs of the company's plans.

May 2015

Senator Murkowski quizzed on her efforts to repeal the US crude export ban

May 26, 2015 (20:40)

Brian Scheid and Herman Wang interview Senator Lisa Murkowski, Alaska Republican and chairwoman of the Senate Energy and Natural Resources Committee, about her efforts to lift the US' longstanding restrictions on crude oil exports.

It's complicated: The US, Venezuela, and China's crude oil relationship

May 18, 2015 (10:20)

The US, China and Venezuela are part of a shifting "love triangle" centered on crude imports and exports. Could the US rekindle its relationship with the Latin America country, once the largest source of US oil imports?

Mailbag time: OPEC meetings, Iran, Cuba, oil exports and love

May 11, 2015 (11:42)

You've got questions? Capitol Crude has answers. Brian Scheid and Herman Wang look at the upcoming OPEC meeting, US negotiations with Iran, the future of Cuba's oil development, US exports and how to keep the spark alive.

Screaming encouraged: Taking a turn on the oil market roller coaster

May 04, 2015 (9:25)

The Peak Oil Peaker is a virtual roller coaster built entirely on oil market speculation. When will low prices and falling rig counts cause US production — and stomachs — to drop?

April 2015

Looking for a pick: Oil price forecasts and football predictions

April 27, 2015 (12:15)

Forecasting oil prices is a tough game, and Herman Wang and Brian Scheid ask whether there's any value to long-term oil price forecasts or if there's too big of a chance of a fumble.

A conflict resolution for Iran oil sanctions? 'Take care of yourself and each other', said one Mr. S

April 20, 2015 (13:58)

Brian Scheid and Herman Wang put their conflict resolution skills to the test as they stage an intervention between President Barack Obama and lawmakers in Congress, skeptical over his administration's nuclear negotiations with Iran.

Definitely not curbing our enthusiasm for US oil policy

April 13, 2015 (22:12)

Brian Scheid and Herman Wang are joined by John Kingston, president of the McGraw Hill Financial Institute, for a pretty ... pretty ... pretty interesting discussion of US crude policy.

The good cop/bad cop world of policing US fracking

April 06, 2015 (9:07)

Pull up a chair in the interrogation room and join Brian Scheid as he asks questions about new hydraulic fracturing rules and their impact on US oil and gas producers.

March 2015

Past, present, futures: How markets are changing oil policy

March 30, 2015 (14:12)

For the first time, Platts Capitol Crude goes on the road to Platts’ New York office for a deep look into the crude oil futures market and its impact on US policy.

13 going on 30? US suddenly has to deal with a mature crude landscape

March 23, 2015 (9:26)

The debate over expanding US crude exports comes as the American fossil fuel industry finds itself in the midst of a "body swap" movie: policy has not kept pace with a radical change.

Fixing US crude by rail is a challenge worthy of King Arthur (and Monty Python)

March 16, 2015 (11:01)

The US oil industry and Obama administration are preparing for a duel over strict new safety rules governing shipments of crude by rail. Will the industry make it out with just a flesh wound?

How to tell if sharks are circling crude oil prices

March 09, 2015 (10:38)

We're going to need a bigger boat: climbing crude production, stagnant demand, politics and more prove that trouble can come from anywhere in the world of oil prices.

US EPA drops a new wave album's worth of apologies about renewable fuels

March 02, 2015 (11:54)

The US EPA's Chris Grundler may not be a member of Depeche Mode, but his appearance at the recent National Ethanol Conference unfolded like the British band's discography.

February 2015

What will save US condensates from being a benchwarmer in the global export game?

February 23, 2015 (9:07)

The launch of the US condensate export market was disappointing, influenced by crude price spreads, condensate quality and international competition.

Keeping up with the Jones Act: the 'third rail' of US energy politics

February 16, 2015 (9:39)

Herman Wang and Brian Scheid explain how the oil industry is rife with controversial topics, but the "third rail" of US energy politics is the Jones Act.

US' tough love approach puts Iran's oil sector in spotlight

February 09, 2015 (10:59)

Brian Scheid and Herman Wang compare the ongoing negotiations over Iran's nuclear program, which has implications for the country's oil sector, with trashy reality television.

KO in AK: The fight over oil development in Alaska

February 02, 2015 (9:10)

Herman Wang and Brian Scheid go ringside for the big fight over the oil industry between the Obama administration and the Alaska congressional delegation, led by Senator Lisa Murkowski.

January 2015

State of crude by rail at a crossing in the US

January 26, 2015 (11:46)

Herman Wang takes a deep dive into the US DOT's options on crude by rail as the oil, rail and other industries expect a final DOT rule to go to the White House at the end of January.

The mysteries of the Renewable Fuel Standard

January 19, 2015 (16:17)

Platts senior editor Herman Wang gets Serial (and serious) about the Renewable Fuel Standard and the battle between the biofuels and oil industries.

US condensate export eligibility may lie in the eye of the producer

January 12, 2015 (5:12)

When it comes to condensates, the US Commerce Department appears to be encouraging companies to decide for themselves whether their product is eligible for export.

Back to the future, part 2: The outlook for US oil policy in 2015

January 05, 2015 (5:36)

On the first Capitol Crude of 2015, Herman Wang and Brian Scheid consider big policy changes the US could see in the new year to address the big questions of the oil industry.

December 2014

If this feels familiar, it's because US oil has probably done this before

December 22, 2014 (8:17)

Ever feel like you're living the same scenario over and over and over again? Bill Loveless stops by to talk about how crude oil prices and policy are a lot like "Groundhog Day."

Bakken oil producers face regulations that could rain on their parade

December 15, 2014 (6:58)

Crude transportation safety measures are having the unintended consequence of making North Dakota environmental standards harder to meet for Bakken oil producers.

The Butterfly Effect: Will the winds of change hit US oil policy?

December 08, 2015 (6:27)

As companies announce their capital expenditures, there will be a better sense of how US oil production will change, which will impact issues like possible crude oil exports and domestic refining.

Far from the madding OPEC crowd

December 02, 2014 (8:44)

Herman Wang and Brian Scheid talk about the late nights, early mornings and crowded press conferences at the recent OPEC meeting, where ministers agreed to maintain their current 30 million b/d crude output ceiling into 2015.

November 2014

EPA dodges an RFS decision, leaving oil, biofuel industries hanging

November 24, 2014 (6:13)

Herman Wang and Brian Scheid talk about how Friday’s decision to punt the 2014 Renewable Fuel Standard into next year was a lot like Reebok’s disastrous Dan vs. Dave campaign ahead of the 1992 Olympics.

Rocky explains the impact of US punches thrown at the Russian oil industry

November 17, 2014 (6:50)

Rosemary Griffin, Capitol Crude's first-ever guest, joins Herman Wang and Brian Scheid evaluate the plot to give the Russian oil industry a black eye through sanctions from both the US and European Union.

New actors, same old TV show: will a Republican controlled House and Senate really change US oil pol

November 10, 2014 (6:52)

Brian Scheid and Herman Wang look at the impact a Republican controlled Senate and an expanded Republican House majority will have on crude oil policy over the next two years, and question just how different it will be from when the Democrats ruled the cast.

What are the expectations for the highly-anticipated export of US condensate?

November 03, 2014 (5:40)

Brian Scheid and Herman Wang talk about why US condensate exports are like a box of chocolates; how much processed condensate will the US be exporting, and where will it end up?

October 2014

Does the US really need all the oil stashed in the Strategic Petroleum Reserve?

October 27, 2014 (6:16)

This week, Platts senior editors Herman Wang and Brian Scheid ask if the hundreds of millions of barrels of crude oil stashed away by the US government may indicate a hoarding problem.

How losing in the short term could be a slam dunk for oil production

October 20, 2014 (6:42)

Maybe it's OK for Saudi Arabia to be compared to the fumbling Philadelphia 76ers, as Herman Wang and Brian Scheid explain. After all, oil pricing and production is a tough game.

Mailbag time: We answer your burning questions about US crude oil

October 13, 2014 (6:54)

Brian Scheid and Herman Wang answer US crude policy questions submitted from listeners, including questions about Alaskan exports, the Jones Act, and Brent and WTI prices.

Interested parties try to woo the future of US crude by rail

October 06, 2014 (6:34)

Herman Wang and Brian Scheid launch a new dating show for crude-by-rail regulations as PHMSA considers the proposals from oil companies, trade groups, railroad organizations and more.

September 2014

Can new oil production metrics hit a home run for US export policy?

September 29, 2014 (6:18)

Brian Scheid and Herman Wang look at what advanced baseball statistics can tell us about US crude oil production data. Do we need to rethink the way we gather and use oil production stats?

'Vampires' and 'werewolves' battle for EPA's affections over Renewable Fuel Standard

September 22, 2014 (5:38)

Herman Wang and Brian Scheid look at the ongoing fight over the Renewable Fuel Standard and compare it to the central conflict within history’s most famous vampire romance teen literature.

What can the US crude oil industry learn from Pabst Blue Ribbon?

September 15, 2014 (7:13)

Brian Scheid and Herman Wang compare the ongoing campaign to allow US crude oil exports and unlink the idea of exports to gasoline prices at the pump to some of the most successful beer marketing campaigns.

Cellulosic ethanol attempts a comeback, and Congress tackles a crude policy framework

September 08, 2014 (7:36)

Brian Scheid and Herman Wang discuss the Dippin' Dots of fuel and why it's a good time to pay attention to attempts at a crude policy from the US Congress.

August 2014

A crude by any other name, and the US offshore lease sale

August 25, 2014 (6:57)

Herman Wang and Brian Scheid wonder what exactly distinguishes Bakken crude from other US oil grades and discuss the latest federal offshore lease sale.

Back to the future: What LaserDisc and corn have to do with condensate splitters and propane

August 18, 2014 (6:36)

Platts senior oil editors Herman Wang and Brian Scheid take a trip down memory lane to look at the future of condensate splitters in the US and winter propane prices.

Offshore and inland, crude oil industry anxious over coming changes

August 11, 2014 (7:08)

Brian Scheid and Herman Wang take a look at possible areas that will be the focus of the US offshore oil and natural gas production plan, as well as the sticking points between the energy industry and railroad industry over oil transportation.

Questions abound regarding Kurdish crude tanker and condensate processing

August 04, 2014 (6:02)

Herman Wang and Brian Scheid discuss the possible political motives for a tanker of Kurdish crude to idle off the Texas coast as well as how companies are trying to unravel oil condensate processing secrets in an attempt to open up export possibilities.

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