On June 12th, Israel carried out overnight airstrikes targeting Iranian nuclear facilities, military infrastructure, military leaders, and nuclear scientists. While the full scope and implications of the attack are still emerging, energy markets responded immediately. Oil prices spiked in the aftermath, although they subsequently eased. What are the regional implications of this conflict? How might Iran retaliate and how might the US respond? How will this impact ongoing negotiations between the US and Iran over Iran’s nuclear program? And what are the possible impacts on energy markets? For this special episode, we pulled in two leading experts from the Center on Global Energy Policy to discuss what we know so far about Israel’s attack on Iran and what could happen in the coming days and weeks. Richard Nephew is a senior research scholar at the Center on Global Energy Policy. He formerly served as the US Deputy Special Envoy for Iran under the Biden administration where he played a key role in negotiations over the Iran nuclear deal. Karen Young is a senior research scholar at the Center on Global Energy Policy and a senior fellow at the Middle East Institute, where she focuses on the political economy of the Gulf states and energy policy. Karen and Richard joined host Jason Bordoff to unpack the escalating conflict in the region. They discussed the current state of Iran’s nuclear program, the potential consequences of the unfolding crisis, and what key developments to watch for. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O’Connor, Caroline Pitman, and Kyu Lee. Gregory Vilfranc of Franc Village Studios engineered today’s show.
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33:40
A Major Reckoning for US Energy Policy
Congress is rushing to enact what could be the most significant energy policy reversal in decades. The US Senate has begun work on an enormous budget reconciliation bill that would extend President Trump's tax cuts while all but eliminating clean energy programs to help pay for them. The House version substantially repeals nearly all tax credits from the Inflation Reduction Act—affecting everything from solar and wind development to hydrogen and carbon capture projects. According to the Sabin Center for Climate Change Law at Columbia Law School/Columbia Climate School, approximately $9.65 billion in unobligated IRA funds are at risk of rescission. Critics of the cuts say this could kill progress toward decarbonization, and pull the plug on US clean energy manufacturing. But supporters argue it's necessary fiscal discipline. So what's really happening in the Senate? Can moderate Republicans preserve some clean energy provisions? And with a Fourth of July deadline looming, what wildcard events could change the political calculus? This week, Bill Loveless speaks with energy analyst Kevin Book about the massive budget reconciliation bill currently moving through Congress and what it could mean for US energy policy. Kevin is managing director of research at ClearView Energy Partners. He has tracked congressional energy legislation and its real-world impacts for years. In addition to leading ClearView’s research team, he is a member of the Council on Foreign Relations and the National Petroleum Council, an advisory body to the Secretary of Energy. He’s also a non-resident senior associate at the Center for Strategic and International Studies. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O’Connor, Caroline Pitman, and Kyu Lee. Engineering by Sean Marquand. Stephen Lacey is executive producer.
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43:21
Obstacles to Energy Consensus in Congress
In today's polarized political landscape, energy policy has become increasingly partisan. States rich in both fossil fuels and renewable resources must confront growing electricity demand and aging infrastructure. Meanwhile, the Trump administration is pushing to defund critical energy projects under the Inflation Reduction Act while also opening new fossil energy development on public land. And congressional efforts at energy permitting reform have stalled despite broad agreement on the need to streamline approvals. So what will it take to move beyond four-year election cycles and develop an enduring energy strategy? How can lawmakers build coalitions in this divided environment? And can we craft energy policies that serve both economic and environmental goals? This week, Bill Loveless speaks with former Senator Joe Manchin about the state of US energy policy. Following his tenure as governor of West Virginia, Joe Manchin served as a US Senator from 2010 to 2024. As chairman of the Senate Energy Committee, he played a pivotal role in shaping major energy legislation, including the Bipartisan Infrastructure Act and the Inflation Reduction Act. Today, he serves on the Bipartisan Policy Center's Energy Council and is writing a memoir, titled Dead Center, which is set to be released in September. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O’Connor, Caroline Pitman, and Kyu Lee. Engineering by Sean Marquand. Stephen Lacey is executive producer.
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46:37
Trump’s Mideast Diplomacy
President Trump's recent visit to the Gulf region marked a dramatic shift from the previous administration’s Middle East diplomacy. In his visit to Saudi Arabia, the UAE, and Qatar, Trump focused on securing significant investment commitments and commercial partnerships to support the region's AI and other ambitions. The trip showcased Trump’s transactional approach to foreign policy—one focused on bilateral deals rather than regional frameworks, and economic partnerships over military interventions. It also raised important questions about oil markets, geopolitical competition with China, nuclear agreements, and the future of energy prices. So what are the likely impacts of massive investment pledges from Gulf nations? Do low oil prices limit the ability to make good on them? What is the outlook for oil prices with uncertainty over OPEC+ policy, a possible Iran deal, and possible new sanctions on Russia? And what does Trump's transactional diplomacy mean for traditional alliances and regional stability? This week, Jason Bordoff speaks with Helima Croft, Joe McMonigle, and Karen Young about how the Trump administration is reshaping U.S. relations with Middle East countries and the long- and short-term implications it will have on energy markets and geopolitics. Helima is managing director and global head of commodity strategy at RBC Capital Markets, where she leads the coverage of energy markets and geopolitical risk. Joe is a distinguished visiting fellow here at the Center on Global Energy Policy and the founder and president of the Global Center for Energy Analysis, an independent research and analysis firm. Karen is a senior research scholar here at the Center on Global Energy Policy and a senior fellow at the Middle East Institute where she focuses on the political economy of the Gulf States and energy policy. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O’Connor, Caroline Pitman, and Kyu Lee. Engineering by Sean Marquand. Stephen Lacey is executive producer.
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1:03:38
A Framework for Achieving Energy Equity
We often associate energy poverty with developing nations, but the reality is that tens of millions of Americans struggle to pay their monthly energy bills. Oftentimes, they forgo heating or cooling their homes in order to pay rent or buy food. And ultimately, they risk losing access to energy altogether, through utility shutoffs. For families living in inadequate housing with poor insulation and inefficient appliances, energy insecurity impacts health, comfort, and quality of life. For some, government assistance programs are a lifeline. Yet, despite rising energy rates, the Low-Income Home Energy Assistance Program (LIHEAP) is in danger of losing funding. So what policy solutions could address the systemic causes of energy insecurity? How can government assistance be reframed to better support and empower energy insecure households? And will the transition to clean energy alleviate or worsen energy insecurity? This week, Jason Bordoff speaks with Diana Hernández about her recent book that seeks to answer those questions and proposes a framework for energy equity. Diana is an associate professor at Columbia University and co-directs the Energy Opportunity Lab at the Center on Global Energy Policy. Her book, "Powerless: The People’s Struggle for Energy," which she co-authored with Jennifer Laird, an assistant professor at Lehman College, was released in April. Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O’Connor, Caroline Pitman, and Kyu Lee. Engineering by Sean Marquand. Stephen Lacey is executive producer.
Columbia Energy Exchange features in-depth conversations with the world’s top energy and climate leaders from government, business, academia and civil society. The program explores today’s most pressing opportunities and challenges across energy sources, financial markets, geopolitics and climate change as well as their implications for both the U.S. and the world.
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