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 Setup
00:52 Ceasefire Ends Oil Jumps
03:17 Supply Losses And Skepticism
05:44 Unprecedented Disruptions
06:52 China Demand Management
09:46 Refinery Outages Crack Spreads
11:10 Why Oil Stayed Low
12:42 Inventory Math Breakdown
16:52 Tank Bottoms Explained
20:12 Politics And SPR Refill
21:04 Glut From Trapped Barrels
23:41 Hormuz Control And Iran
25:51 Iran Regime And Public Optics
27:01 IRGC Survival Logic
27:54 Hormuz Rerouting Timeline
29:09 Product Shortages Inflation
30:35 Trump Middle East Leverage
32:06 Drill Baby Drill Limits
34:55 Oil Market Glut Dynamics
37:21 Gas Demand Surge Ahead
44:13 Pipelines Unlock Supply
47:42 Energy Powers Growth
51:57 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 Florence
00:30 Meet The Guests
01:31 Maritime Rules And ETS
06:59 Net Zero And Flexibility
09:56 Ship Design And Efficiency
12:55 Energy Density Reality Check
15:12 Baker Hughes Gas Turbines
20:29 Certification And Proven Tech
22:41 Ports Bunkering And Corridors
28:00 Top Global Port Hubs
29:53 Pathways To Zero Fuels
30:16 Ammonia and Offsets
31:13 Fuel Competition Crunch
32:43 Piggybacking Infrastructure
33:30 Efficiency as Hero
34:39 Hydrogen Blending Reality
36:27 Green Hydrogen Economics
38:28 Materials and Repurposing
39:20 Value Chain Collaboration
40:51 Innovation Hubs and TRL
44:36 Building Trust and Culture
52:00 Data Sharing Barriers
55:37 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 Intro
00:45 Elevator Oil Trader Story
01:37 Can Oil Hit 40
02:04 Iran Risk and Spare Capacity
02:55 Global Demand Growth Outlook
04:05 Surplus Debate and NGLs
04:20 OPEC Plus Adds Barrels Back
05:44 Thin Spare Capacity Reality
07:26 Just In Case Stockpiling
08:30 Putting a Price Forecast
10:25 Why Not 100 Dollar Oil
11:19 Tier Two Tech Upside
11:57 Oil Price Reality Check
12:50 Global Supply Shifts
13:15 Europe Net Zero Backlash
14:37 LNG Export Boom Risks
15:10 Early Signs Of Glut
17:42 China Power Mix Reality
19:11 Cheap Power Wins
20:07 Clearing LNG With Price
22:31 Tech Squeezes Margins
23:45 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 growth

00:00 Welcome and Banter
00:56 Geopolitics Driving Oil
01:23 Strait of Hormuz Risks
03:20 Politics and Price Targets
04:15 Oil Price History
05:12 Forecasting and Boone
07:09 Gas Demand Surge
09:30 Pipelines and Permitting
12:27 All of the Above Energy
13:30 SMRs and AI Timing
14:34 NOV Leadership Shift
15:05 Deepwater Returns
16:13 Rigs and Day Rates
17:16 Where to Drill Next
19:21 Geoscience Breakthroughs
20:46 Evolution of Drilling Tech
21:37 Consolidation And Completion Science
22:28 Automated Rigs And Bigger Hookloads
23:51 Automation Versus Robotics
24:38 Safety Driven By Operators
25:29 Rig Supply Dayrates And Discipline
28:02 Bananas And Water Disposal Earthquakes
31:06 Treating Produced Water Economics
32:55 Power Crunch Data Centers And Coal
34:14 Ohio Mega Gas Plant And Scale
36:04 2026 Risks Gas Prices And Saudi Capacity
41:43 Wrap Up And Thanks