PODCAST · business
EnergyCents
by S&P Global Energy
IHS Markit is now part of S&P Global. Hear exclusive energy insights and analysis, and engage with our experts as we explore the complex environment that shapes global energy markets. Follow EnergyCents, featuring our experts discussing the intersection of the financial and energy industries.
Episodes
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Drilling for power: Geothermal's unconventional moment (Ep. 267)
The shale revolution transformed energy production. Could geothermal be next? In this episode, Carolyn Seto and Melissa Greig join Hill Vaden and Sam Humphreys to unpack how horizontal drilling, hydraulic fracturing and lessons from unconventional development are being applied underground to…
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Diesel in the danger zone: Inside the global diesel squeeze (Ep. 266)
Diesel markets are under mounting pressure as disruptions in Russia and the Middle East squeeze global supplies just as the Northern Hemisphere heads into winter. In this episode of EnergyCents, Hill Vaden and Sam Humphreys are joined by Karim Fawaz and Will O'Neil to unpack what is driving the...
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Dr. Copper's Diagnosis: What Copper Is Telling Us About the Global Economy (Ep. 265)
Copper sits at the heart of the energy transition, data centre expansion and global electrification. But behind the bullish headlines lies a market wrestling with tight mine supply, negative smelting margins, tariff uncertainty and rising interest rates. In this episode, Nick Trickett joins Hill...
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Storms, Storage and Supply: Europe's winter energy outlook (Ep. 264)
The rules of Europe's gas market have changed. Russian pipeline gas is gone, LNG is king, and storage has become one of the continent's most important energy buffers. This week on EnergyCents, Alun Davies joins Hill Vaden and Sam Humphreys to explain why Europe is entering winter with...
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After the Shock: What's Next for LNG? (Ep. 263)
The closure of the Strait of Hormuz has removed a significant share of global LNG supply from the market, reshaping gas trade flows and raising questions about energy security ahead of winter. In this episode of EnergyCents, Sam Humphreys and Hill Vaden are joined by S&P Global gas expert Laurent...
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Steady as she goes: US shale sector approaches higher oil prices with caution (Ep. 262)
Oil prices are up by more than 75% since the start of the year and recently crossed the psychologically important $100/barrel milestone. The corresponding rise in US drilling rigs, however, has been far more modest. S&P Global Energy Shale Sector expert Imre Kugler joins hosts Hill Vaden and Sam...
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Reuniting Gondwana: Why Big Oil is returning to West Africa.
Why are the world's largest oil companies turning their attention back to West Africa? In this episode of EnergyCents, Sam Humphreys and Hill Vaden are joined by S&P Global's Justin Cochran and Roderick Bruce to explore the region's deepwater revival. From promising geology and the pursuit of...
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Talking refining capacity with Phillips 66 (Ep. 260)
Phillips 66 is a US-based downstream energy company that operates through five core segments: Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels. Sean Maher, Phillips 66 chief economist and head of investor relations, joins hosts Hill Vaden and Sam Humphreys to...
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The Illusion of Crowds: In conversation with S2G
What happens when plenty of capital enters the energy transition, but not enough of it reaches the companies best positioned to scale? In this episode of EnergyCents, Hill Vaden and Sam Humphreys speak with Francis O'Sullivan, Managing Director of Energy Investment at S2G, about "The Illusion of...
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Quagmire: Scenario planning a case for lasting oil markets disruption (Ep. 258)
Scenario planning allows investors and executives to prepare for situations outside of their base-case expectations. S&P Global Energy developed a new case called "Quagmire" that assumes conflict around the Strait of Hormuz becomes a permanent geopolitical feature and trade flows fragment in…
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Digital underground: Grid-forming inverters and the future of grid stability (Ep. 257)
Traditional grids rely on the physical inertia of massive, spinning turbines to stabilize frequency during sudden power outages. This stability is being challenged by the growth of solar and wind power, which lack the physical spinning parts needed to buffer the grid. Grid-forming inverters…
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Marginal utility: Lack of new capacity leads to boom time for North America refining (Ep. 256)
Fresh investment in North American refining infrastructure stalled in prior years as the sector braced for long-term demand destruction. However, capacity has fallen faster than demand and profit margins are now healthier than many expected. Refining expert Debnil Chowdhury joins hosts Hill Vaden...
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South America's Right Turn: The new political map of energy (Ep. 255)
South America is undergoing a major political shift, with a wave of right-leaning governments reshaping the region's approach to energy and natural resources. In this episode, Upstream risk expert Ford Tanner joins hosts Hill Vaden and Sam Humphreys to explore what the rise of the "New Right"…
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Strait talk: Oil markets brace for new phase amid extended Hormuz tensions (Ep. 254)
Oil and product markets showed unexpected resilience in prior weeks thanks, in large part, to reduced crude demand from China. The system is now much tighter and its resilience could be tested, particularly when it comes to refined product markets, as we enter a new phase. Oil markets expert…
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Talking clean-energy investment trends with ACORE (Ep. 253)
ACORE is a Washington-based non-profit that brings together partners in finance, policy and technology to advance clean energy initiatives in the US. ACORE SVP of Policy and Engagement Lesley Hunter joins hosts Hill Vaden and Sam Humphreys to discuss financing trends in the clean energy economy…
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Corn, Carbon and Competition: Ethanol's Next Chapter in the US (Ep. 252)
Ethanol has been a cornerstone of the US biofuels industry for decades, but what role will it play in an energy system increasingly shaped by electrification, low-carbon fuels and evolving policy? Biofuels expert Kevin Lindemer joins EnergyCents hosts Hill Vaden and Samantha Humphreys to explore...
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Necessity breeds invention: US data centers developers embrace behind-the-meter power (Ep. 251)
The US data center complex is building against speed-to-power mandates that require developers to get projects online as quickly as possible. Delays plugging into grid-connected power are forcing projects to invest in behind-the-meter (BTM) gas generation assets as they seek access to…
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Sea change: Offshore wind sector adjusts development plans as costs rise (Ep. 250)
More than 90 GW of offshore wind capacity has been installed globally, split almost equally between Europe and China. Development in many parts of the world has slowed as rising interest rates and wavering policy support pressure new-project economics. S&P Global Energy expert Andrei Utkin joins...
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NIMBY: Data center developers wrestle with growing pains (Ep. 249)
As data center projects become more visible across the US, they are having to manage more not-in-my-backyard (NIMBY) concerns from community stakeholders and policymakers. These concerns often lead to delays, cancelations, and even state-wide moratoria that can thwart the ambition of AI…
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Talking energy-as-a-service with Budderfly (Ep. 248)
Budderfly is an energy-as-a-service company that assumes responsibility for its commercial customers' utility bills and installs energy-efficiency equipment on their behalf. A portion of the monthly savings from its customers' reduced energy consumption then becomes a revenue stream for…
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Talking trash: Neogenyx Fuels and the opportunity to scale landfill RNG (Ep. 247)
Neogenyx Fuels launched in May 2026 as a 70/30 joint-venture project between Ameresco and HASI. The spin-off company is built with Ameresco's legacy biofuels business and a $400 million capital commitment from HASI. Neogenyx CEO Mike Bakas joins hosts Hill Vaden and Sam Humphreys to discuss the...
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Hot n' Cold: Talking efficiency with International District Energy Association (Ep. 246)
District energy uses a centralized network of underground pipes to transport produced steam and hot or chilled water to heat or cool end-use buildings. The model is most commonly found in densely populated and connected environments, such as college campuses, medical centers, or centrally planned...
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Don't call it a comeback: Nuclear's been here for years (Ep. 245)
A nuclear renaissance in the US stalled 20 years ago when gas-fired generation won market share and power demand flattened. This time, many believe, is different. S&P Global Energy expert Bill Freebairn joins hosts Hill Vaden and Sam Humphreys to put America's history with nuclear power into...
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Charif Souki on the Future of LNG: Glut Myths, Infrastructure, and Global Demand (Ep. 244)
This week on EnergyCents, Hill Vaden and Sam Humphreys speak with LNG pioneer Charif Souki about the extraordinary rise of the US from LNG importer to global export leader — and what that means for markets, infrastructure, and energy security. Souki pushes back on fears of an LNG glut, warns that...
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Talking emissions accounting with Carbon Measures (Ep. 243)
Carbon Measures represents a coalition of businesses working to reduce emissions by establishing a more accurate carbon accounting framework. Carbon Measures CEO Amy Brachio joins hosts Hill Vaden and Sam Humphreys from the sidelines of CERAWeek to discuss how applying financial accounting...
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Applying AI agents to industrial operations with UptimeAI (Ep. 242)
San Francisco-based UptimeAI develops agentic software that can diagnose root causes of problems discovered in the industrial processes of energy, chemicals, manufacturing and utilities sectors. The solution-seeking software then recommends corrective actions and uses continuous learnings to…
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Talking policy with the US Department of Energy (Ep. 241)
Energy policy has been a major focus of American politics for decades as government planners try to balance often competing priorities around affordability, availability, and climate. Dr. Ashley Nunes, Director of the Office of Policy at the U.S. Department of Energy, joins hosts Hill Vaden and…
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Don't stop believing: ReconAfrica's Namibia Journey
Namibia has been in the headlines for its giant offshore discoveries, which have opened up a wealth of opportunities in the region. But in 2025, ReconAfrica made the country's first onshore discovery, persevering with an exploration campaign that proves that if you trust in the geology, you might...
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Critical Minerals, Critical Moment: Metals in the Spotlight at CERAWeek (Ep. 239)
In the second installment of the CERAWeek x EnergyCents specials, the focus is on critical metals and the impact the world's geopolitical situation is having on the supply and demand cycle. Joining hosts Hill Vaden and Sam Humphreys live in Houston is a friend of the podcast, Nick Trickett, S&P...
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Reviewing CERAWeek 2026: Convergence, competition, and concerns about TSA wait times (Ep. 238)
CERAWeek anchored its 2026 theme around the title, "Convergence and Competition: Energy, Technology and Geopolitics," when the event hosted more than 12,000 participants in Houston this March. A palpable tension – unrelated to the energy event itself – also permeated this year's conference as...
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Return of the...Crux: OB3 and tax credits
Co-founder and CEO of Crux, Alfred Johnson, returns to EnergyCents and hosts Hill Vaden and Sam Humphreys to catch up on what has been happening in the US tax credit space since the introduction of the One Big Beautiful Bill Act at the end of 2025. The discuss the uncertanties companies have…
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Contracted offtake: US clean energy procurement set for evolution as market matures (Ep. 236)
Power Purchase Agreements, or PPAs, contractually guarantee revenues to power-generation projects for a fixed number of years and have underwriten the boom in renewable electricity development. The US tech sector dominated PPA activity in 2025 as it seeks to increase installed generation capacity...
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From Shale to Scale: Daniel Gonzalez on Vaca Muerta's Promise for Argentina (Ep. 235)
Unpack the next chapter of Argentina's energy story through the lens of Vaca Muerta, one of the world's most promising shale basins. In this episode, Argentina's Vice Minister of Energy and Mining Daniel Gonzalez joins hosts Hill Vaden and Sam Humphreys to explore recent the infrastructure...
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Talking behind-the-meter power generation with Bloom Energy (Ep. 234)
Bloom Energy manufactures solid oxide fuel cell (SOFC) systems for on-site power generation projects and has been a major beneficiary of the US boom in data center development. Bloom's modular fuel cells produce power without combustion using pipeline-quality natural gas and offer developers the...
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Strange brew: Canadian oil sands position for growth (Ep. 233)
The Canadian oil sands are making more than 3.5 million barrels per day and would be the major contributor to the Albertan government realizing its ambition of doubling provincial oil and gas production by 2035. S&P Global Energy Expert Kevin Birn joins hosts Hill Vaden and Sam Humphreys to…
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Check please: European importers await CBAM bill as transitional phase ends (Ep. 232)
Europe moved its Carbon Border Adjustment Mechanism (CBAM) into its definitive phase in January 2026 after two years of emissions-data collection. The definitive phase now requires importers to begin paying for the carbon embedded into a select basket of goods – Iron and Steel, Aluminum, Cement,...
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Talking US natural gas acquisitions and capital partnerships with Diversified Energy (Ep. 231)
Diversified Energy is a multi-basin US natural gas producer focused on growing itself through acquisitions of proved developed producing reserves. In 2025, the company announced more than $2 billion in acquisitions, entered into a $2 billion capital partnership with Carlyle, and moved its primary...
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Top Trends for 2026: Energy capital bets on AI-led power demand, positions for cyclical oil surplus (Ep. 230)
Top Trends for 2026: Energy capital bets on AI-led power demand and positions for a cyclical oil surplus. AI will continue to be a dominant driver of energy capital flows in 2026 as growth investment pauses in amply supplied global oil and natural gas markets. These expectations and five more…
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Talking long-duration energy storage with the CEO of Inlyte Energy (Ep. 229)
Talking long-duration energy storage with the CEO of Inlyte Energy Inlyte Energy is a U.S.-based manufacturer of iron-sodium battery energy storage systems. The five-year-old company completed a successful test of its first field-ready battery late in 2025 and is preparing for a pilot…
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Top Trends for 2026: Upstream leans into its core business as the energy-expansion agenda cements (Ep. 228)
The global upstream sector will navigate increased cost pressures this year as it faces a well-supplied oil market. This expectation and four other key trends will direct the attention of E&P executives over the next 12 months, according to S&P Global Energy's recently released report, "Charting...
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Africa: Infrastructure hurdles limit pace of broadening energy access (Ep. 227)
Africa is often discussed as a single entity, but the energy profiles differ widely between North Africa and Sub-Saharan Africa as well as within the 54 countries that define those regions. Much of North Africa, for example, enjoys universal access to electricity while 50% of the Sub-Saharan...
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Top Trends for 2026: Data center demand soars; global solar installations peak; and more (Ep. 226)
Global solar installations slow after a record-setting 2025 as growth in the rest of the world fails to cover an expected 33% decline in annual additions by China. This expectation and nine other trends will help shape energy markets in 2026, according to the recently published S&P Global Energy...
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Holiday special: Energy markets year-in-review and new year resolutions (Ep. 225)
We welcome back S&P Global Energy experts Reed Olmstead and David Vaucher for our annual year-in-review and resolutions episode. Hosts Sam Humphreys and Hill Vaden check in to consider some of the past year's biggest trends and offer market predictions and personal resolutions for 2026. Access...
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Chatting adaptation finance with HFW (Ep. 224)
Adaptation vs mitigation. The conversation continues to permeate global climate goal discussions as the world attempts to reach net zero. But with adaptation becoming more and more preferable, challenges on how to finance this remain. Peter Zaman, Partner at HFW, joins hosts Hill Vaden and Sam...
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Talking cleantech capital with the founders of GreenFront Energy Partners (Ep. 223)
GreenFront Energy Partners, an investment bank based in Richmond, Va., is on a self-imposed mission to bring together the financial, intellectual, entrepreneurial, and natural resources to meaningfully decarbonize the global economy. The six-year-old firm caters to clients active in the...
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Gassy Globe: The ups and downs of demand (Ep.222)
After a period of tightening natural gas supply since the Russia-Ukraine conflict, we are entering a time of oversupply, as more LNG hits the market. S&P Global Energy Global Gas expert Laurent Ruseckas, joins Hill Vaden and Sam Humphreys to discuss the interesting dynamic between falling prices...
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Talking Carbon Capture with Tim Vail, CEO of Ion Clean Energy (Ep. 221)
The opportunity for carbon capture technology is expanding as the role of natural gas in power generation grows in an emissions-constrained world. Ion Clean Energy, which includes Chevron, ExxonMobil, Williams, and Carbon Direct as investors, is working to address this opportunity with its...
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Peak Uncertainty: Forecasters wrestle with muddled outlooks for long-term oil demand (Ep. 220)
Energy forecasters have long been calling for a near-term peak in global oil demand as year-over-year growth slows in the largest consumer markets of US, China, and Europe. These outlooks are being revisited as electric vehicle penetration underwhelms and the opportunity for petrochemical demand...
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Back to the Future: New Zealand re-opens itself for upstream exploration (Ep. 219)
Earlier this year, New Zealand reversed a self-imposed ban on offshore oil and gas exploration begun in 2018 and is now allowing companies to apply for new licenses. Frankie Hulbert, an S&P Global expert in upstream exploration and development, joins Hill Vaden and Sam Humphreys to discuss how…
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Drill, Baby, Drill: Upstream players navigate changing tides (Ep. 218)
The upstream industry has faced many challenges over the last few years, but global sentiment seems to be shifting. In an environment of rapidly evolving geopolitics and a continued demand for resources, we explore how the industry is responding to this changing landscape. Joining hosts Hill…
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ABOUT THIS SHOW
IHS Markit is now part of S&P Global. Hear exclusive energy insights and analysis, and engage with our experts as we explore the complex environment that shapes global energy markets. Follow EnergyCents, featuring our experts discussing the intersection of the financial and energy industries.
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S&P Global Energy
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EnergyCents currently has 300 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is EnergyCents about?
IHS Markit is now part of S&P Global. Hear exclusive energy insights and analysis, and engage with our experts as we explore the complex environment that shapes global energy markets. Follow EnergyCents, featuring our experts discussing the intersection of the financial and energy industries.
How often does EnergyCents release new episodes?
EnergyCents publishes regularly with 300 episodes available. Check the episode list for the typical release schedule.
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EnergyCents is created and hosted by S&P Global Energy.
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