The Bureau of Land Management held a federal oil and gas lease sale in Wyoming on June 29. It marks the second onshore lease sale for the state since President Joe Biden took office and the first to take place in the state since the Inflation Reduction Act instituted higher oil and gas royalty rates and leasing costs for development.  Pete Obermueller, president of the Petroleum Association of Wyoming, joined the podcast to discuss the lease sale results. He spoke with S&P; Global Commodity Insights senior editor Starr Spencer about the emerging unconventional Powder River Basin which featured prominently in the auction, the impact of the IRA, and how the Biden administration’s actions are affecting industry behavior and interest. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers. Then, tell us more about your podcast preferences so we can keep improving our shows. Take our survey here: https://www.surveylegend.com/s/4xyz

Wyoming holds first post-IRA oil and gas lease sale … and the results are meh

In-depth weekly analysis of US energy policy news from S&P Global Commodity Insights senior editors covering the Capitol. Hosted by Jasmin Melvin.

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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 oil-market related highlights following China’s “Two Session” meetings -- the biggest annual political gathering in the country, which happened over March 4-11.

What's next for oil following China's announcement of its 2024 targets?

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 biggest impact on the oil sector. He also shared how the sector is coping with the elections frenzy and how who ends up in the White House for the next four years could shape the industry’s future.

Policies, politics and partings

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 importance of vehicle electrification for meeting broader climate goals. Stick around for Chris Van Moessner with the Market Minute, a look at near-term oil market drivers.   Related content: AFPM latest to launch lobbying effort over new US EPA emissions standards EPA sends auto emissions rule for White House review, signaling progress toward final rule

Rumored weakening of tailpipe emissions rule would move US in wrong direction, analyst says

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 Modeling and Data Lab and a professor within the University of Texas at Austin’s Department of Petroleum and Geosystems Engineering, believes this is the wrong debate to be having. S&P; Global Commodity Insights Americas LNG reporter Corey Paul caught up with Ravikumar for the podcast. And Ravikumar shared his perspective on the way we should be thinking about the future of US LNG exports. Stick around for Jeff Mower with the Market Minute, a look at near-term oil market drivers.   Related content: We are having the wrong debate about Biden’s decision on liquefied natural gas: Arvind Ravikumar  White House declares pause on key US LNG export permits, policy review US producers tout LNG growth outlook despite regulatory uncertainty US Senate weighs long-term impact of Biden's LNG permitting pause (subscriber content) 

LNG exports, pauses, climate impacts: Are we having the wrong debate?

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 Law Center, joined the podcast to discuss the RMP amendment process, including how it came about and what environmental groups want to see happen. She also gave her take on how the interests of the oil and gas industry are weighed against conservation goals and what a change in administration could mean for the RMP process. Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

Wyoming holds first post-IRA oil and gas lease sale … and the results are meh

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