Energy Espresso

The biggest risks in energy may still lie ahead.In this episode of Energy Espresso, Jim Wicklund sits down with Marshall Adkins, Managing Director and Head of Energy Investment Banking at Raymond James, to discuss how the Iran conflict, Strait of Hormuz concerns, and shifting global demand have driven oil prices back toward $75.Is the market underestimating what comes next? They explore why crude prices remained relatively resilient despite supply disruptions, China’s role in balancing the market, and what’s next for oil, inflation, and U.S. production. The conversation also highlights the long-term growth outlook for natural gas, fueled by LNG exports, data centers, and expanding energy infrastructure.00:00 Welcome And Setup00:52 Ceasefire Ends Oil Jumps03:17 Supply Losses And Skepticism05:44 Unprecedented Disruptions06:52 China Demand Management09:46 Refinery Outages Crack Spreads11:10 Why Oil Stayed Low12:42 Inventory Math Breakdown16:52 Tank Bottoms Explained20:12 Politics And SPR Refill21:04 Glut From Trapped Barrels23:41 Hormuz Control And Iran25:51 Iran Regime And Public Optics27:01 IRGC Survival Logic27:54 Hormuz Rerouting Timeline29:09 Product Shortages Inflation30:35 Trump Middle East Leverage32:06 Drill Baby Drill Limits34:55 Oil Market Glut Dynamics37:21 Gas Demand Surge Ahead44:13 Pipelines Unlock Supply47:42 Energy Powers Growth51:57 Final Takeaways Volatility

Can shipping decarbonize without a clear fuel winner?Live from the Baker Hughes Annual Meeting in Florence, Energy Espresso host Jim Wicklund sits down with Raimondo Giavi, VP, Hydrogen at Baker Hughes; Carlo Luzzatto, CEO of RINA; and Claire Wright, Senior Vice President of Hanwha Ocean Europe, to unpack the future of maritime decarbonization.They discuss regulatory uncertainty between the EU and IMO, the rise of green shipping corridors and port hubs, and why flexibility, through dual-fuel systems, efficiency gains, and adaptable turbine technology, may be the industry’s most realistic path forward.00:00 Welcome From Florence00:30 Meet The Guests01:31 Maritime Rules And ETS06:59 Net Zero And Flexibility09:56 Ship Design And Efficiency12:55 Energy Density Reality Check15:12 Baker Hughes Gas Turbines20:29 Certification And Proven Tech22:41 Ports Bunkering And Corridors28:00 Top Global Port Hubs29:53 Pathways To Zero Fuels30:16 Ammonia and Offsets31:13 Fuel Competition Crunch32:43 Piggybacking Infrastructure33:30 Efficiency as Hero34:39 Hydrogen Blending Reality36:27 Green Hydrogen Economics38:28 Materials and Repurposing39:20 Value Chain Collaboration40:51 Innovation Hubs and TRL44:36 Building Trust and Culture52:00 Data Sharing Barriers55:37 AI for Operations

Things I learned this week.

What Moves Oil: $40 or $60?On the Energy Espresso Podcast, host Jim Wicklund sits down with Jan Stuart, Global Energy Economist at Piper Sandler, to break down what could actually move oil prices.After talk of $40 oil, Stuart pushes back, arguing it would take a recession-level shock and missteps from OPEC+. Instead, he sees ~$60 with upside, pointing to tight spare capacity, steady demand, and low inventories, while also unpacking LNG volatility and a potential near-term glut.00:00 Welcome and Guest Intro00:45 Elevator Oil Trader Story01:37 Can Oil Hit 4002:04 Iran Risk and Spare Capacity02:55 Global Demand Growth Outlook04:05 Surplus Debate and NGLs04:20 OPEC Plus Adds Barrels Back05:44 Thin Spare Capacity Reality07:26 Just In Case Stockpiling08:30 Putting a Price Forecast10:25 Why Not 100 Dollar Oil11:19 Tier Two Tech Upside11:57 Oil Price Reality Check12:50 Global Supply Shifts13:15 Europe Net Zero Backlash14:37 LNG Export Boom Risks15:10 Early Signs Of Glut17:42 China Power Mix Reality19:11 Cheap Power Wins20:07 Clearing LNG With Price22:31 Tech Squeezes Margins23:45 Wrap Up And Thanks

Can the energy system keep up with AI power demand, and rising geopolitical risk?Live from Daniel Energy Partners’ Thrive Event at Houston’s Daikin Field, Energy Espresso host Jim Wicklund sits down with Loren Singletary, Vice President-Global Accounts and Investor Relations at National Oilwell Varco, to break down oil price uncertainty tied to Middle East tensions and the Strait of Hormuz, the coming surge in U.S. gas demand, and the infrastructure challenges standing in the way.They also explore deepwater’s comeback, LNG market shifts, and why pipeline bottlenecks, especially out of the Marcellus, could shape the next phase of U.S. energy growth00:00 Welcome and Banter00:56 Geopolitics Driving Oil01:23 Strait of Hormuz Risks03:20 Politics and Price Targets04:15 Oil Price History05:12 Forecasting and Boone07:09 Gas Demand Surge09:30 Pipelines and Permitting12:27 All of the Above Energy13:30 SMRs and AI Timing14:34 NOV Leadership Shift15:05 Deepwater Returns16:13 Rigs and Day Rates17:16 Where to Drill Next19:21 Geoscience Breakthroughs20:46 Evolution of Drilling Tech21:37 Consolidation And Completion Science22:28 Automated Rigs And Bigger Hookloads23:51 Automation Versus Robotics24:38 Safety Driven By Operators25:29 Rig Supply Dayrates And Discipline28:02 Bananas And Water Disposal Earthquakes31:06 Treating Produced Water Economics32:55 Power Crunch Data Centers And Coal34:14 Ohio Mega Gas Plant And Scale36:04 2026 Risks Gas Prices And Saudi Capacity41:43 Wrap Up And Thanks