War, Energy, and Politics

Recorded on April 18, 2024

Episode 106 of the PetroNerds podcast is your complete market update and round the world tour on what is happening in the oil market, energy, the global economy, and geopolitics. Trisha Curtis, CEO of PetroNerds and host of the PetroNerds podcast, takes listeners from natural gas prices in the US to the Middle East and back again. This podcast dives into the drivers for oil prices, the war in the Middle East and the Iranian strikes on Israel, Russia’s energy infrastructure targeting in Ukraine, OPEC spare capacity, US production of oil and natural gas, rising US electricity prices, stubborn US inflation, and the the lack of interest rates cuts by the US Federal Reserve.

This is a podcast you are going to want to relisten to and share with your friends and colleagues. In 53 minutes Trisha covers what is driving oil prices, natural gas production in the US and natural gas prices, geopolitics and war and Iran’s attack on Israel on April 13th, the SPR, global spare capacity, OPEC and Russian production vs. OPEC Plus targets, US production and lower US rig count and US activity, the complexity of high oil prices and low natural gas prices in the US, the Biden Administration’s stance on Iran and their unwillingness to enforce sanctions on Iran crude exports to China, electricity inflation in the US and power demand, and the impact of politics and policies on oil and gas prices in the US. Trisha gets into power generation and natural gas explaining that half of US power generation is coming from natural gas.

She talks about power generation and manufacturing, EVs and Hertz and the slowdown in sales and adoption of EVs, inflation and electricity prices and the $1.74 natural gas prices NOT being passed along to consumers, and Russian attacks on Ukraine and Ukraine’s energy infrastructure and power generation. She discusses the Fed, interest rates, no interest rate cuts, inflation, housing prices and mortgage rates, new home sales being down and housing prices being up, the demand for electricity and power generation by chip companies and bets on AI, the geopolitical angst within the market, and Russia, Iran, and China ties.

She closes the podcast by talking about the need for market intelligence and leadership in oil and gas, not just because it is the right thing to do, but because it is also the right thing to do for your shareholders. Trisha talks about politics and policies and raising energy IQ. She talks about the differences between Biden and Trump on oil and gas prices and infrastructure, regulations, and business.

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