Columbia Energy Exchange

Every permitting bill promises the same thing: build faster. The harder question is what the trade-offs are, and who bears them.

That question is at the heart of the Bipartisan American Affordability and Jobs Act (BAAJA), the US Senate permitting deal introduced in September by the leaders of the chamber's two energy and environment committees.

A new white paper from the Center on Global Energy Policy finds that the bill would make it meaningfully faster and more predictable to build energy infrastructure of all kinds, especially interstate transmission. But those gains come with a cost. Federal approvals would become faster to obtain but harder to reverse. Leverage would shift from states, wildlife agencies and other reviewers to project applicants. Accountability would shift from before construction to after it. For consumers, lower energy bills are plausible but conditional, and could arrive years after households start paying for new infrastructure.

With supporters pushing for a vote when the Senate returns after the November 3 midterm elections, the bill faces a narrow window. It needs 60 votes in the Senate and then agreement with the House.

So who wins and who loses under this bill? What can past energy projects tell us about how the bill would perform? Does it help clean energy more than oil and gas? And can it pass in a short lame-duck session?

This week host Bill Loveless talks with Robin Millican, Noah Kaufman, and Jack Andreasen Cavanaugh, scholars at the Center on Global Energy Policy who contributed to the new analysis along with Vivek Shastry, Tom Moerenhout, Ira Joseph, and Lily Bermel. They discuss how the bill would change environmental review and litigation, what it means for transmission, data centers, and the climate, and what Jack's new interactive permitting tool shows about where the time savings would really come from.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Dara Diamond, and Kyu Lee. Engineering by Gregory Vilfranc.

The US may finally, after years of trying, be on the cusp of a nuclear renaissance.

Commercial nuclear generation began in this country in 1958. Today, the US has 94 operating reactors, supplying roughly a fifth of the nation's electricity. But since 1996 only three new reactors have come online.

Now the picture is changing fast. In May 2025, President Trump signed four executive orders to speed up nuclear deployment; they include a goal to have ten new large reactors under construction by 2030. Nuclear startups have raised $4.6 billion this year alone. And with AI and data centers driving electricity demand growth, tech companies are signing long-term power agreements and backing the restart of shuttered reactors.

Still, caution is warranted. The delays and cost overruns at Georgia's Vogtle reactors remain a concern for some would-be investors. Advanced designs offer promise, but their ability to deliver power at competitive costs through repeated commercial deployment remains to be demonstrated.

At the center of this challenge is the Department of Energy's Office of Energy Dominance Financing, formerly the Loan Programs Office. In June, it issued a $17.5 billion conditional commitment to rebuild the nuclear supply chain and help launch ten large reactors. It is also financing three restarts, most recently with a $1.9 billion loan to NextEra for Iowa's Duane Arnold plant, the largest yet for reviving a nuclear plant. And just two weeks ago, it announced up to $4.2 billion to increase power generation from existing plants—so-called uprates—across Pennsylvania and Ohio.

So what will it really take to turn this momentum into new reactors, delivered on time and on budget? Why does nuclear need federal financing at all? And what role does nuclear play in the nation's economic, security, and decarbonization goals?

On today's episode, Jason Bordoff speaks with Julie Kozeracki, acting chief investment officer for the US Department of Energy's Office of Energy Dominance Financing and the office's nuclear sector lead.

Julie discusses the department's efforts to bolster US nuclear power capabilities, through both restarts and new builds. She explains how her office allocates resources toward commercializing new, more scalable nuclear systems. And she considers the roles that government and the private sector are each playing in this moment, and what policymakers can do to support a nuclear buildout.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Dara Diamond, and Kyu Lee. Engineering by Gregory Vilfranc.

Permitting reform—to allow for faster approvals on new projects—is one thing that both climate advocates and energy developers have wanted for a long time. With demand for power climbing, the pressure to act is as strong as it has been in years.

Now, a new effort is on the table. Last month, leaders of the Senate's two main energy and environment committees reached a bipartisan agreement on the most significant permitting overhaul in decades. At its core, the bill would make it easier to build energy infrastructure across the board. It would shorten the window for legal challenges, tighten environmental review deadlines, strengthen federal authority to approve interstate transmission lines, and restrict the government's power to revoke permits once they're issued.

Reactions have been mixed. Industry groups and unions have welcomed the bill, while some environmental and climate groups have raised concerns. And with supporters hoping for a Senate vote right after the November elections, the clock is ticking.

So what's actually in the bill? How might it speed up energy project build-out and streamline development? What are some of the objections to the bill and how does it address key environmental review processes? And what does the bill, and the disparate reactions to it, tell us about where U.S. energy policy is headed in the future?

In this episode Jason speaks with Daniel Palken about the core provisions of Bipartisan American Affordability and Jobs Act, and the major objections to it. Daniel is the director of Infrastructure for Energy and Permitting at Arnold Ventures. Before that he worked in the US Senate, most recently as a professional staff member for the Committee on Energy & Natural Resources and prior to that as the senior policy advisor to Senator John Hickenlooper of Colorado for energy, climate, and minerals issues.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Dara Diamond, and Kyu Lee. Engineering by Gregory Vilfranc.

Vecinos para el Bienestar de la Comunidad Costera v. FERC (D.C. Cir. 2021): A court decision sending a FERC approval of gas infrastructure back to the agency because it didn't adequately explain why it declined to use the social cost of carbon in assessing the project's greenhouse gas emissions. Horizon Climate Group's interactive tool: Lets users view wind and solar deployment alongside federal land. NLR (formerly NREL) 2024 report on renewable energy on federal land: Source for the figure that only 3 to 4 percent of wind, solar, and geothermal capacity sits on federal land. Lawrence Berkeley National Laboratory 2024 developer survey: Finds that local permitting and grid issues are the top barriers to renewable deployment (see slide 11). MIT Technology Review coverage of China's transmission buildout: On the roughly 2,000-mile, 12 GW transmission line China built between 2016 and 2018. Macro Grids in the Mainstream (2020): Source for the comparison between China's addition of hundreds of gigawatts of high-voltage transmission and the negligible amount added in the U.S.

Carbon credit markets have become one of the most hotly debated tools in the fight against climate change. Supporters call them essential to closing the gap between corporate climate pledges and what companies can actually achieve on their own. Critics call them a shell game that lets polluters buy their way out of real action.

But the debate is about more than just whether carbon credits can work; it's about the integrity of the markets designed to trade them. The promise of these markets is fairly straightforward. The complexity comes in determining whether the credits actually deliver the climate benefits they're supposed to.

New research from the Center on Global Energy Policy, supported by Bloomberg Philanthropies, examines the state of one type of carbon trading: project-based carbon credit markets. The study looks at how these markets are regulated and how they might be scaled.

Today on the show, Bill Loveless speaks with Gautam Jain and Ned Shell about the state of project-based carbon credit markets, where they're headed, and what they're watching closely on the road to global rules under the Paris Agreement's Article 6.

Gautam Jain is a senior research scholar here at the Center on Global Energy Policy. He focuses on the role of financial markets and carbon markets in the transition to net-zero emissions—particularly in emerging countries. Gautam previously worked in the financial industry where he covered emerging markets as a portfolio manager and strategist for asset management firms and investment banks, including The Rohatyn Group, Barclays Capital, and Millennium Partners.

Ned Shell is director of public policy and climate finance programs at Bloomberg. He is also a term member of the Council on Foreign Relations. Prior to Bloomberg, he served as counselor to the under secretary for domestic finance in the U.S. Department of the Treasury and held roles at Bain & Company and the World Bank.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Global gas markets, especially in Europe, are approaching winter under serious pressure. With storage inventories lagging behind historical averages and shipping disruptions from the Middle East threatening key liquefied natural gas flows, many nations find themselves deeply exposed.

The supply shocks from both the Russia-Ukraine war and now the Strait of Hormuz closure have revealed vulnerabilities in a market that is more interconnected than ever, but also more geopolitically complex.

With less global LNG supply and growing sensitivity to weather, the case for new security frameworks is getting stronger, built on closer international cooperation, new reserve mechanisms and greater market flexibility.

Where does the global gas market stand right now? How much LNG is actually moving through the Strait of Hormuz? What are European countries doing to prepare for the winter? Is Russian gas coming back on the table? Will renewed concerns about energy security spur a faster transition away from gas and toward clean energy? And how do China and the rest of Asia factor into this high-stakes calculus for global supplies?

On today's show—Anne-Sophie Corbeau, Ira Joseph, and Tatiana Mitrova. All three are research scholars at the Center on Global Energy Policy and have deep expertise in geopolitics and energy markets.

They joined host Jason Bordoff to discuss the global gas market, what's behind the looming European supply crisis this coming winter, and how the markets—and European leaders—are responding. They played out some scenarios regarding supply and demand going forward and the role that Asian markets, global geopolitics, coal, renewables, and electrification could play.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Dara Diamond, Doug Halsey, and Kyu Lee. Engineering by Gregory Vilfranc.

Seven months into the largest oil supply disruption in history, there's still no resolution in sight. This week, on the sidelines of the UN General Assembly, US and Iranian officials held their first indirect talks since the Memorandum of Understanding collapsed in July—but neither side appears ready for concessions.

Energy flows through the Strait of Hormuz remain contested and hard to track. A US blockade has pushed Iranian crude exports close to zero, while naval escorts and dark transits near the Omani coast have allowed a partial, volatile recovery in flows from Arab Gulf states—still well below pre-war levels. Attacks on shipping continue, and the Houthis have opened a new front against Saudi Arabia, choking flows through the Bab al-Mandab and striking key infrastructure like the East-West pipeline.

Brent crude sits at $105​ a barrel, below April's $126 peak, but that headline number masks just how tight markets really are: diesel ​i​s over $6.50 per gallon in the US, up 85% from pre-war levels​; tanker rates​ are 20 times normal; and markets are visibly scrambling for crude. Meanwhile Republican senators from US farm states are pushing for a diesel export ban, and the Trump administration is reportedly considering it over objections from members of his cabinet.

How much crude is actually flowing through the Strait of Hormuz. Why is diesel the most acute pressure point in oil markets? What would a US diesel export ban mean? And why have tanker rates gone stratospheric?

T​oday on the Iran Conflict Brief, ​D​aniel Sternoff talks with Jan Stuart, global energy strategist at Piper Sandler. Jan has built leading energy franchises at Credit Suisse, Macquarie, and UBS, was a journalist in the 1990s, and began his career at the International Energy Agency in Paris.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Dara Diamond, Doug Halsey, and Kyu Lee. Engineering by Gregory Vilfranc.

This week, Chinese President Xi Jinping travels to Washington for a state visit with President Trump, their second face-to-face meeting this year. Energy is likely to be high on the agenda, particularly the fallout from the ongoing conflict in the Middle East.

One of the more surprising developments since Iran largely closed off the Strait of Hormuz has been how little damage it's done to China's economy. Analysts widely expected the disruption—given China's heavy reliance on Gulf crude—to hit hard. The data tells a different story.

What happened? How much of this outcome is owed to the country's careful planning, diverse energy sourcing, or demand reduction? And what does all of this say about the ways energy security is shifting—and perhaps being redefined—in China?

Today on the show, Bill Loveless speaks with Erica Downs and Michal Meidan about how China has responded to the biggest oil shock in history, and what it reveals about the future of energy security.

Erica Downs is a senior research scholar at CGEP, where she focuses on Chinese energy markets and geopolitics.

Michal Meidan leads China Energy Research at the Oxford Institute for Energy Studies.

Read their post, How China Is Managing Lower Oil Imports, on the Center on Global Energy Policy's blog, Energy Explained.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Dara Diamond, and Kyu Lee. Engineering by Gregory Vilfranc.

More than six months into the war with Iran, the Strait of Hormuz crisis continues to cause turmoil in the Gulf region and global energy markets with no apparent end in sight.

Tanker traffic through the strait has collapsed to a fraction of its pre-war baseline, and the fallout is spreading. Brent crude broke $100 a barrel for the first time since July, and US diesel prices have climbed above $6 a gallon for the first time in history.

The US Navy blockade has all but shut down Iranian oil exports, but the conflict is no longer confined to Iran and the strait. Last week, Saudi Arabia's East-West pipeline was struck and could stay offline for weeks. Iran-aligned Houthi forces seized Yemen's Red Sea coastline. And a Panama-flagged tanker carrying Iraqi fuel oil caught fire in the crossfire—a sign that oil flows well beyond Iran's borders are now at risk.

Meanwhile, President Trump continues to predict the war will end shortly after the US midterms—even as his own administration reportedly warns privately that Iran can hold out longer than that.

So, with the conflict spreading, has this become a multi-front regional war? How much further could oil and diesel prices climb? And how does this conflict unwind and actually end?

On today's show, Jason Bordoff speaks with three scholars at the Center on Global Energy Policy: Richard Nephew, Daniel Sternoff, and Karen Young. Together, they discuss the widening war, its impacts on global energy markets, and Middle East geopolitics.

It's been a tumultuous year for Venezuela, marked by political upheaval and deadly earthquakes. Then, in late August, the Trump administration announced a deal for over 65 billion barrels of Venezuelan oil reserves—and a 35% stake in North American Blue Energy Partners (NABEP). The move could turn a little-known private company into one of the world's largest corporate holders of oil reserves.

But NABEP wasn't the only headline. In the same week, Chevron pledged $7 billion to double its Venezuelan production, Italian major ENI moved forward on a massive oil field agreement, and GE Vernova signed on to rehabilitate the country's crippled electric grid. All told, Venezuela signed deals covering more than 150 billion barrels of oil resources—an unprecedented scale-up for a sector starved of investment for over two decades.

Yet for all the fanfare, basic questions remain unresolved. What are the terms and legal basis for the deal? What does direct US government equity in Venezuelan oil actually mean for American energy security and gas prices at the pump? And where does this deal fit in the long energy history between the US and Venezuela—is this a genuine turning point, or just the latest swing in a cycle of investments and setbacks that hasn't delivered lasting progress for ordinary Venezuelans?

Today on the show, Jason Bordoff speaks with Luisa Palacios and Bob McNally.

Luisa is an adjunct senior research scholar here at the center, where she also served as CGEP's head of research. Before joining CGEP, Luisa was chairwoman of Citgo Petroleum Corporation, the US refining arm of Venezuela's state oil company, PDVSA.

Bob is the founder and president of Rapidan Energy Group, an independent energy consulting and market advisory firm. From 2001 to 2003 he served on the White House National Economic Council as special assistant to President George W. Bush. And in 2003, he was the senior director for international energy on the National Security Council. His 2017 book, Crude Volatility: The History and the Future of Boom-Bust Oil Prices, examines the history of oil price swings.

Advanced technologies, a return to domestic manufacturing, and the race to control energy production while also confronting surging demand for electricity. All of these factors mean that for the US, energy security and national security are increasingly centered on critical minerals.

But the processing and refining of vital materials like copper, lithium, and graphite is largely done overseas, heavily concentrated in the hands of global competitors like China. This has sparked an urgent, bipartisan push to re-industrialize America and secure the supply chains necessary for everything from military defense to the AI revolution.

So can public sector funding catalyze sustainable private enterprise without over-regulating the market? How much domestic mining, processing, and recycling can the US unlock quickly and safely? And what role can emerging baseload power technologies like advanced geothermal and small modular nuclear reactors play in meeting our soaring energy needs?

Today on the show, Jason Bordoff speaks with the Assistant Secretary of Energy Audrey Robertson, about her office's mission to restructure and secure America's energy supply chains, from mining to recycling.

Audrey leads the US Department of Energy's Office of Critical Minerals and Energy Innovation, where she oversees one of the nation's largest energy R&D portfolios. Previously, she co-founded Franklin Mountain Energy, a private oil and gas company in the Permian Basin, where she served as CFO and executive vice president. Before that Audrey was a managing partner at Copper Trail Partners, an energy private equity platform.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Energy abundance means different things in today's global context than it did even a decade ago. It is about expanding electricity access while meeting rising energy demand. It is about navigating geopolitical fragmentation, limited government support, and shifting development priorities. And it is about leveraging new technologies to deliver reliable power at scale.

But the challenge is not just technological. It is institutional and financial. Many low- and middle-income countries face high capital costs, limited access to financing, and policy frameworks that struggle to keep pace with growing demand.

Solving this challenge is a priority for both the Center on Global Energy Policy and The Rockefeller Foundation. That's why this past spring the two organizations launched a high-level panel to advance "universal energy abundance," an idea that positions reliable, affordable energy as a cornerstone of economic growth, industrialization, and opportunity in emerging and developing economies.

So what does it take to move from energy scarcity and toward energy abundance? Can international institutions, governments, and investors come together to mobilize the scale of investment required? And how can emerging economies balance the urgency of expanding energy access with the need for affordability, reliability, and sustainability?

Today on the show, we're revisiting a conversation that Jason Bordoff had back in April with Rajiv Shah, president of The Rockefeller Foundation, about the high-level panel and its goals.

Rajiv has led The Rockefeller Foundation since 2017. Prior to that, during the Obama administration, he led the US Agency for International Development as its administrator. He also served on the National Security Council, at the US Department of Agriculture, and held leadership roles at the Bill & Melinda Gates Foundation.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Abundance and affordability have become buzzwords among policymakers, who often have sharply different interpretations of how to attain them. To some, an energy abundance agenda means fewer regulatory barriers to produce more clean, cheap power. Others, however, question whether the narrative glosses over the hard trade-offs around land use, community concerns, or environmental impacts.

Yet even as data centers, surging power demand, and rising electricity costs dominate public discourse around energy, how we talk about decarbonization in mainstream politics has radically changed. So what have we learned from major climate policies like the Inflation Reduction Act? And what does the trajectory of these policies say about the durability of climate politics today?

Today on the show, Jason Bordoff speaks with Matthew Yglesias, who argues that energy policy cannot be siloed off as merely a climate issue—contending that clean energy progress is far more politically and economically durable when tied directly to economic growth, industrial capacity, and grid infrastructure rather than consumer sacrifice.

Matthew is the author of "Slow Boring," a substack about US politics and policy. He also co-hosts The Argument, a podcast on which he and co-host Jerusalem Demsas debate politics and policy. His most recent book, The Rent Is Too Damn High, is about the policy origins of the middle class housing affordability crisis in America.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

It started last year as a pressure campaign at sea, with the United States seizing tankers as part of what President Trump called a "total and complete blockade" of vessels carrying Venezuelan crude subject to US sanctions. It crescendoed on January 3, when US forces captured Venezuelan President Nicolás Maduro, bringing him and his wife to New York on narcoterrorism charges.

Since Maduro's removal, confusion remains over whether—and to what extent—the US is controlling the country's oil sector. But one thing is clear: despite holding the world's largest oil reserves, Venezuela is producing at a fraction of its former levels, and its path to recovery is anything but certain.

A national tragedy has only added to the instability. In June, twin earthquakes claimed more than 5,000 lives. While the country's energy infrastructure did not sustain significant damage, the quakes exposed deep fault lines in the country's political leadership and served as a stark reminder of an already long-standing humanitarian crisis in the region.

So what's the state of the energy sector and energy investments in Venezuela? How has the global energy crisis changed the calculus for prospective energy developers? What role is the Trump administration playing in the sale of Venezuelan oil? And where is oil production headed?

Today on the show, Jason Bordoff speaks with Luisa Palacios about the state of the Venezuelan energy sector, efforts around creating new policies to boost oil production, and the impact of the June earthquakes.

Luisa is an adjunct senior research scholar at the Center on Global Energy Policy (CGEP) at Columbia University, where she previously served as head of research. Before joining CGEP, Luisa was chairwoman of Citgo Petroleum Corporation, the US refining arm of Venezuela's state oil company, PDVSA.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Over the past five months, the Strait of Hormuz has been closed for extended stretches of time, disrupting roughly 10 to 15 million barrels of oil supply each day. It is the biggest energy supply shock in history, but global energy markets are defying historical expectations.

Despite lost production and heightened geopolitical instability, crude oil prices are far below the catastrophic levels many analysts predicted early on. But beneath the headline numbers, the broader energy system tells a far more complicated story. Refining margins have spiked to unprecedented levels, global coal consumption is pacing toward a new record high, and the ways energy moves around the world are changing in real time as the crisis continues to unfold.

So, why hasn't this massive disruption triggered a full-blown global economic crisis? What role are China's massive strategic stockpiles, shifting demand patterns, and the ongoing energy transition playing in dampening the shock? And what are the long-term security implications for global oil refining, shipping chokepoints, and future LNG infrastructure?

Today on the show, Jason Bordoff talks to Bloomberg opinion columnist Javier Blas about how the strait closure and Iran war have impacted global energy markets so far.

Prior to joining Bloomberg in 2015, Javier held a number of roles at the Financial Times, including Africa editor and commodities editor. He is also the co-author of The World for Sale: Money, Power and the Traders Who Barter the Earth's Resources.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

As the demand for power surges across the US, the debate over how to build energy infrastructure has reached a fever pitch. And while both sides of the aisle broadly agree that the current permitting process is broken, turning that consensus into actual ​legislation remains a challenge. So how do we define permitting reform, what does meaningful progress actually look like, and where do we stand today?

Alan Armstrong is keenly focused on those questions. After spending his entire career in the energy industry, he was sworn into the US Senate in March, representing Oklahoma. (Oklahoma Governor Kevin Stitt appointed him after Markwayne Mullin resigned to become US secretary of Homeland Security. Per Oklahoma law, Armstrong cannot run for reelection.) Senator Armstrong spent 15 years as CEO of Williams Companies, one of the largest natural gas infrastructure firms in North America. He is also the former chair of the National Petroleum Council and a founding member of Natural Allies for a Clean Energy Future.

Last week, Jason Bordoff spoke with Senator Armstrong about his legislative focus: permitting reforms aimed at streamlining energy buildouts. They discussed a bill that the senator has sponsored, the American Energy and Mineral Infrastructure Act of 2026, as well as the broader wave of reform efforts drawing bipartisan attention. The senator reflected on his time at Williams and how that informed his view on permitting policy. They discussed the role of judicial review, the power dynamic between federal and state regulators, and how growing energy affordability concerns are adding new pressure to pass meaningful permitting reform.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Critical minerals sit at the intersection of energy technology, industrial competitiveness, and economic resilience. The issue has hit a fever pitch in the United States, driving the Trump administration to establish a $12 billion Strategic Critical Minerals Reserve and take other steps to support domestic mining projects. More broadly, G7 countries recently agreed to step up coordination to cut their countries' reliance on China for critical minerals.

All of these moves are targeted at breaking China's stronghold on the sector, which it built over decades as the US largely turned away from securing a critical mineral supply chain. And it's not just about supply dominance, China is also using its strengths in the sector as a geopolitical weapon.

Yet, questions remain over whether US investments to date, or international agreements, are stoking the level of private investment needed to compete with China. So what financial models could provide effective blueprints for quickly scaling mineral supply? Which countries are pursuing the most promising approaches? And looking beyond investments, what policy tools could help the US and its allies grow a resilient critical minerals supply chain?

Today on the show, Bill Loveless speaks to Tom Moerenhout and Tomasz Nadrowski about what it takes to build mineral supply chains as strategic infrastructure and how targeted financial instruments could lower risks for investors.

Tom Moerenhout leads the Critical Materials Initiative at the Center on Global Energy Policy and is a professor at Columbia University's School of International and Public Affairs. Recently, he and other scholars at the center contributed to a new World Economic Forum report called "Making Critical Minerals Bankable: Policy Tools to Unlock Investment."

Tomasz Nadrowski is the co-founder and portfolio manager at Amvest Terraden, where he invests in exploration, development and mining companies that are focused on strategic minerals. He has 25 years of mining sector investment experience. He is also the author of the recently published book Mineral War: China's Quest for Weapons of Mineral Destruction.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Nearly a month after a ceasefire, the US-Iran deal seems to have all but collapsed as both nations have slipped back into active conflict. On Sunday, Tehran announced that the Strait of Hormuz is once again closed—a move President Trump immediately countered, stating the waterway will remain open "with or without Iran." Since then, both the US and Iran have reportedly begun new attacks, and the President said the US will reinstate its blockade to become the "guardian" of the strait, even floating a controversial plan to charge commercial ships to ensure their safe passage.

We are in a critical window where both sides are aggressively trying to redefine their leverage in the Persian Gulf region, yet neither has fully abandoned the negotiating table. The U.S. can't maintain its high-stakes engagement indefinitely.

So are we right back to square one? Is this perpetual state of uncertainty the new normal for the Strait of Hormuz? What realistic leverage does Washington still possess on the nuclear front? And with senior Houthi leaders announcing their involvement, how does the collapse of this deal reverberate throughout the Persian Gulf region?

Today on the show, Jason Bordoff discusses the current and unpredictable state of affairs in the strait, and how it could play out in the coming weeks and months, with Suzanne Maloney, the vice president and director of the foreign policy program at the Brookings Institution.

Suzanne's research focuses on Iran and Persian Gulf energy. She has advised Democratic and Republican administrations on Iran policy, including as an external advisor to senior State Department officials during the Obama administration and as a member of Secretary of State Condoleezza Rice's Policy Planning staff during the administration of George W. Bush. Earlier in her career, she served as Middle East advisor for ExxonMobil Corporation.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

In the 23 days since the US and Iran agreed to a ceasefire, strikes have returned, following a familiar pattern: Iran attacks vessels using an internationally backed sea lane in Omani territorial waters, the US retaliates against Iranian military infrastructure, and Iran strikes back at US bases across the region. This week, alongside funeral processions for the assassinated Ayatollah Ali Khamenei, both physical and verbal attacks escalated.

Yet, both the US and Iran are still signaling they prefer diplomacy over a return to full-scale war. Despite this week's events, Brent crude oil prices are only $5 above levels that preceded the war. Some 200 million barrels of oil stranded on vessels and in storage have managed to exit the straits since late May.

But this crisis is far from over. Inventories of crude oil and oil products have been severely depleted. The trapped oil that has exited Hormuz represents only several weeks of supply, perhaps eight million barrels per day of production remain shut in, and Qatar has yet to restore its LNG production.

Today, host Daniel Sternoff sits down with Center on Global Energy Policy experts Anne-Sophie Corbeau and Karen Young to consider the near- and long-term outlook for energy markets. They discuss what's at stake for Iran, how renewed strikes impact traffic through the Strait of Hormuz, and how a sustained uptick in hostility could impact the LNG market heading into winter.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Grid operators sit at the center of many of the biggest forces reshaping the global energy system. They're navigating rising electricity demand, a lack of transmission infrastructure, shifting regulatory policies, and maintaining the tricky balance between affordability, reliability, and the need for dispatchable power.

Both here in the US and around the world, operating a reliable and resilient grid—in the face of increasingly severe weather and complex interconnection demands—is more difficult than ever. And these challenges are felt well outside the power sector. Spiking utility rates in some regions have turned electricity into a major political issue.

So, what does the future of grid planning tell us about the ultimate pace of the energy transition? How can system operators manage the surge in demand from AI and data centers without compromising reliability? And how can open-source grid planning tools help both developed and developing markets build a flexible power system for the next 30 to 50 years?

Today on the show, Jason Bordoff speaks to Alice Yake about the opportunities but also the challenges in building cleaner electrical grids.

Alice is vice president of GRIDS at Breakthrough Energy, where she leads a team focused on the development of an open-source grid planning ecosystem designed to make energy system modeling transparent, accessible, and trustworthy. Previously, she spent 14 years at the utility Xcel Energy, where she rose to chief planning officer. Before that, she worked for the oil and gas company Occidental. She started her career at Enron.

And for more about the Center on Global Energy Policy's work on electricity affordability, read here.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Concerns about the affordability of electricity in the US have been rising along with prices. And while the headlines have pointed to AI and data centers as the underlying factors, the exact causes are more complex.

The problem reflects a convergence of pre-existing structural failures, including inefficient infrastructure planning, utility incentives that are misaligned with cost efficiency, slow permitting times, and storm damage and wildfire costs. And now, higher electricity demand, including from data centers, is accelerating all of these pressures and adding some of their own.

Today on the show, Bill Loveless speaks to Doug Arent and Robin Millican about their recent reports for the Center on Global Energy Policy that examine the structural roots of rising electricity prices and look at approaches to improving grid investments and resilience.

Doug is a global fellow at the Center on Global Energy Policy and the emeritus executive director at the Foundation for the National Laboratory of the Rockies, a nonprofit established to support the Department of Energy lab, where he served for nearly 30 years, rising to the role of deputy associate director.

Robin directs research programs and strategic partnerships at CGEP, leading its research agenda. Previously, she was the head of strategic initiatives and integration at Breakthrough Energy, the global organization founded by Bill Gates to accelerate the transition to affordable, reliable, and clean energy.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The energy transition is in the midst of its own transition. Spiking electricity demand and geopolitical events are driving up energy prices, while debates over the best sources of generation play out amid supply chain constraints and questions about whether or not the energy crisis in the Strait of Hormuz will accelerate a transition away from oil and gas.

But underneath all those debates is a more basic question: do we have the data, evidence, and analytical clarity that is needed to understand where the energy world actually stands?

Today on the show, Jason Bordoff speaks with Michael Cembalest about "Fighting Words: The Energy Transition in 2026," the latest installment of Michael's annual "Eye on the Market" energy report. It takes a hard look at the state of the energy transition and the many battles shaping the energy world today, from the so-called "primary energy fallacy," which can obscure how much useful energy renewables actually provide, to China's dominance in the sector, to the economics of electric vehicles.

Michael is chairman of market and investment strategy for J.P. Morgan Asset Management. Prior to this role he was chief investment officer for J.P. Morgan's Global Private Bank, and has spent his entire career at the bank, joining the securities division in 1987.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Yesterday, the US and Iran signed a memorandum of understanding starting the clock on a 60-day truce. The agreement intends to halt attacks, begin lifting the US naval blockade, and restore commercial traffic through the Strait of Hormuz. But deep uncertainty remains over how energy will actually flow through the waterway—and over the ultimate fate of Iran's nuclear program.

Add to this, an increasingly tense relationship between the US and Israel, which has said it does not consider itself bound by the MOU. And here in the US, political pressure could quickly shift Washington's calculations if the reopening of the Strait yields minimal strategic concessions on Iran's ballistic missiles, nuclear enrichment, and regional proxy networks.

So what happens next? How will global energy markets and regional security adjust if this temporary truce collapses? Who ultimately holds the leverage in this next phase of the crisis?

To address those and other questions about the ceasefire and the intersection of national and energy security, two people who recently sat at the very center of US foreign policy — Jake Sullivan and Jon Finer — joined Jason Bordoff for a special episode of Columbia Energy Exchange.

Jake served as National Security Advisor during the Biden Administration, where he was the chief architect of the 2022 National Security Strategy, coordinated the global response to Russia's invasion of Ukraine, and designed the "small yard, high fence" framework for US-China technology competition. Last year he joined the Harvard Kennedy School as the Kissinger professor of the practice of statecraft and world order.

Jon served alongside him as Deputy National Security Advisor, bringing decades of experience in high-stakes diplomacy, crisis management, and international law to the highest levels of government. Jon held a number of roles in the Obama administration, including chief of staff to Secretary of State John Kerry. And he's a former distinguished visiting fellow at CGEP.

They are also the hosts of "The Long Game," an essential podcast for anyone trying to make sense of foreign policy and national security in our world today.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The 109-day-old Iran crisis is heading toward an off-ramp in the form of a not-yet-public Memorandum of Understanding to reopen the Strait of Hormuz. While energy markets are celebrating with a sell-off, the actual operational future of the waterway chokepoint remains unclear.

Navigable shipping corridors remain constricted by mines, hundreds of vessels are still trapped, and full recovery could take months. Furthermore, the ground rules have fundamentally shifted, according to reports that Iran intends to enforce its own regulatory protocols and collect mandatory "service fees" for passage.

The global energy map has been deeply altered by a crisis that disrupted as much as 20 million barrels a day, revealing long-term vulnerabilities. How will this 60-day ceasefire window play out as negotiations face roadblocks over nuclear and sanctions issues? And how will the region's oil producers permanently adapt to this new phase of accommodation with Tehran?

Today, host Daniel Sternoff sits down with Center on Global Energy Policy experts Karen Young, Richard Nephew, and Ira Joseph. They break down the strategic, economic, and logistical realities behind this "paper peace," and what the US-Iran deal means for the future of global energy security.

Credits: Hosted by Jason Bordoff, Bill Loveless, and Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The clean energy transition had real momentum at the end of 2024. It was buoyed by federal support, billions of dollars of investment in new technologies, and broad acknowledgment of the costs of climate change caused by greenhouse gas emissions. But major roadblocks have emerged over the past 18 months. US support for some forms of clean energy was revoked. And rising energy costs, due in part to an urgent call for data center build-out, have made affordability a priority for many stakeholders.

The challenge is truly daunting. Despite significant clean energy investments, some 80 percent of the world's energy is still derived from fossil fuels. Tariffs and supply disruptions have made clean energy infrastructure harder to build.

So what does all of this mean for the speed and scale of the energy transition? How are businesses navigating so much instability when billions of dollars and decades-long infrastructure commitments are at stake? And what does this all say about whether the global energy system can ever be clean, accessible, and affordable?

Today on the show, Bill Loveless speaks with Jessica Uhl about the challenges of and opportunities for making energy abundant, accessible, and clean.

Jessica has held senior leadership roles in upstream oil and gas, renewables, and power technology, including serving as CFO of Shell and later as president of GE Vernova. Jessica is now a senior advisor with the Three Cairns Group, an investment and philanthropic firm focused on the climate crisis. She also serves on a number of boards, including the executive and advisory boards at the Center on Global Energy Policy.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

For years, the energy transition was discussed as a shift that would happen in steady, predictable increments. But a massive surge in electricity demand in recent years—now colliding with a fracturing geopolitical landscape—has reshaped the global race for clean, reliable power.

All this has pulled nuclear energy back to the center of the national conversation—with many policymakers from both sides of the aisle calling for a nuclear renaissance.

But past multi-billion dollar cost overruns on traditional gigawatt-scale projects still hang over the sector, even as a novel pipeline of small modular reactors and other advanced nuclear technologies promise to reshape the grid. This has put renewed attention on whether the US regulatory system is ready for the scale and speed of what's needed.

So what reforms are key to supporting the US nuclear energy sector? What needs to be done to ensure speed, safety, and predictability? And where do policymakers need to be careful to preserve the credibility, independence, and public trust that make nuclear regulation durable over the long term?

Today on the show, Jason Bordoff speaks with Ashley Finan and Amy Roma about the growing nuclear industry and evolving landscape of nuclear regulation.

Ashley is the Jay and Jill Bernstein fellow here at the Center on Global Energy Policy and previously served in senior leadership roles at Idaho National Laboratory, where she worked on nuclear energy and national security issues.

Amy is a partner at the law firm Orrick, where she advises clients on legal, business, and policy matters related to the existing nuclear fleet, as well as advanced reactors, fusion facilities, and supporting nuclear infrastructure. She is also a nonresident senior fellow at the Atlantic Council's Global Energy Center.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Despite all the advancements we have achieved globally in recent decades, as many as 750 million people still lack access to electricity. Tackling energy poverty requires far more than linking communities to an electric grid. Closing the massive disparity in opportunity for people around the world will require building energy abundance, not just access.

Energy is prosperity, and one way to measure it is by the Modern Energy Minimum. Developed by the Energy for Growth Hub, this benchmark posits that a truly modern life requires at least 1,000 kilowatt-hours per person, per year—10 to 20 times the amount typically used to define electricity access.

Here at the Center on Global Energy Policy we're partnering with the Rockefeller Foundation to launch a High-Level Panel on Universal Energy Abundance. The panel is dedicated to providing decision-makers with the insights needed to drive industrialization, job creation, and broad-based prosperity across emerging economies.

So how can we develop and invest in energy infrastructure globally in a way that supports prosperity? What role should governments play? Do the right tools to improve access exist? And how do we navigate the tension between energy growth and climate policy?

Today on the show, Jason speaks with Katie Auth about energy's role in driving lasting economic change and why the modern energy minimum model could produce a meaningfully better standard of living in developing economies.

Katie is the deputy executive director at the Energy for Growth Hub, which works to end poverty through sustainable development and climate resilience. She's also a non-resident fellow on US-Africa relations at the Carnegie Endowment for International Peace and a member of the Economic Advisory Council for the U.S. Millennium Challenge Corporation. Previously, she spent seven years at the U.S. Agency for International Development, including as senior development finance advisor and acting deputy coordinator of Power Africa.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

For years, the energy transition was discussed as a shift that would happen in steady, predictable increments. But the last 24 months have shattered that illusion. Energy providers now face extreme industrial volatility—where companies tasked with building the future of clean energy are also grappling with multi-billion dollar losses, supply chain fragility, and a sudden, massive surge in power demand.

As the president and CEO of Siemens Energy, Christian Bruch sits at the epicenter of these contradictions. The company is a global giant, responsible for a massive portion of the world's power generation and transmission infrastructure. Yet, even a company of this scale has not been immune to the existential challenges of the modern energy market. In 2023, its wind division, Siemens Gamesa, suffered major technical and financial setbacks. Since then, Siemens Energy has staged a significant turnaround. Its wind business is back on track and Siemens Energy is seeing unprecedented demand for its gas turbines and grid technology, driven largely by demand from data centers to power artificial intelligence.

All of this makes the company a useful lens through which to understand where the global energy system is headed as energy infrastructure providers sprint to keep up with the world's thirst for electricity.

What does the "speed to power" mean for the pace of decarbonization? And how is the role of an energy CEO changing in a world where industrial strategy and geopolitics are now inseparable?

Today on the show, Jason Bordoff speaks with Christian Bruch about the opportunities and challenges that Siemens Energy is facing today, from surging electricity demand and growing infrastructure investments, to geopolitical headwinds and supply risks.

Christian is the president and CEO of Siemens Energy as well as the president and CEO of Siemens Energy Management. Earlier in his career, he worked for more than 15 years at the Linde Group, a global industrial gases and engineering company, where he held a number of leadership roles. He started his career with the German energy company RWE Group, rising to head of research and project development at RWE Fuel Cells.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The Iran crisis is in its 80th day. Right now, roughly 1,500 vessels laden with oil, natural gas, fertilizers, and oil products sit trapped in the Persian Gulf by a dual US-Iranian blockade. One thing is certain: prolonging this standoff for another 80 days risks triggering profound global economic consequences.

Global oil inventories are depleting fast and are projected to hit critical levels by the end of June.

For the Trump administration—caught between accepting Iranian power over the Strait of Hormuz or risking a major military escalation—the path of least resistance may be to keep maintaining a naval blockade of Iranian oil sales to China. The stakes escalated further this month when Washington sanctioned Hengli Petrochemical—China's second-largest independent refiner—prompting Beijing to retaliate with unprecedented blocking rules against US sanctions.

How will this high-stakes standoff play out in the coming weeks? And how will the worsening US-China rivalry reshape the Middle East conflict?

Today, host Daniel Sternoff sits down with Cory Combs, Head of Supply Chain and Critical Minerals Research at Trivium China. Cory leads Trivium's cross-cutting research on climate, energy, and industrial policy, advising both governments and multinational corporations. He joins us to break down the volatile triangular relationship between Washington, Beijing, and Tehran, and what it means for global energy security and the Strait of Hormuz.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Much of the world's attention today is understandably focused on conflict in the Middle East, and the immediate implications for energy markets and global security. But other regions remain strategically important because of critical minerals, emerging shipping routes, military positioning, and energy security. Among these regions are Greenland and the broader Arctic.

The far north is key to geopolitical competition among the United States, China, and Russia. Though it has fallen out of the recent news cycle, President Trump put Greenland and its resources in the spotlight last year by calling for US control of the Danish territory.

So how significant are Greenland's energy resources and geography? How should we think about its mineral resources in the context of supply chains and China? And how might the Arctic's fast-changing climate affect the region's communities, culture, and geopolitical importance?

Today on the show, Bill Loveless speaks with Iris Ferguson about Greenland's strategic significance, and how the Arctic is changing, both physically as well as geopolitically.

Iris is the president and founder of IAF Strategies and a non-resident senior associate with the Center for Strategic and International Studies. From 2022 to 2025 she served as the inaugural deputy assistant secretary of defense for Arctic and global resilience, advising the Pentagon on protecting US and allied interests in the Arctic. Previously, Iris served as an advisor to the US Air Force, where she authored the service's first Arctic strategy.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

In moments of geopolitical crisis, energy is never just a backdrop. It's often at the center of the story. Today, as conflict involving Iran sends shockwaves through global oil markets and raises fears of supply disruptions, the stakes for policymakers in Washington couldn't be higher.

Prices are rising, risks are multiplying. And as we've seen in recent weeks, there are no easy solutions when energy and national security collide. So what does effective decision-making look like inside the White House at times like these?

Today on the show, to help answer that question, Bill Loveless speaks with Bob McNally and Jason Bordoff. Both of them served as energy advisors during past US administrations. They joined Bill to reflect on what they learned about navigating energy crises from inside the White House.

Bob McNally is the founder and president of Rapidan Energy Group, an independent energy consulting and market advisory firm. From 2001 to 2003 he served on the White House National Economic Council as special assistant to President George W. Bush. And in 2003, he was the senior director for international energy on the National Security Council. His 2017 book, Crude Volatility: The History and the Future of Boom Bust Oil Prices, examines the history of oil price swings.

Jason Bordoff is Columbia Energy Exchange co-host and the founding director of the Center on Global Energy Policy at Columbia University School of International and Public Affairs, where he is a professor of professional practice. He is also on the faculty of the Columbia Climate School where he is co-founding dean emeritus. He previously served as special assistant to President Barack Obama and senior director for energy and climate change on the staff of the National Security Council.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

It has been a tumultuous 24 hours for the global energy landscape. Yesterday, the United Arab Emirates sent shockwaves through the oil industry by announcing its withdrawal from OPEC, marking a historic break with Saudi Arabia in the midst of the ongoing regional crisis. This move comes as the Strait of Hormuz remains almost entirely shut, with the US intensifying its naval blockade and threatening to cut off major Chinese banks from the US financial system to halt the processing of Iranian oil.

Despite a diplomatic impasse, the physical realities of the market are reaching a breaking point. Brent crude is trading over $118 a barrel, near its wartime highs, and gasoline prices in the US have climbed to an average of $4.22 a gallon—its highest level ​since the beginning of the Russia-Ukraine war. With the world burning through crude inventories and jet fuel costs in Asia more than doubling since the Iran war began, the oil market appears to be losing hope for a swift reopening of the strait, forcing a painful calibration between dwindling supply and record-high prices.

So, what does a "dysfunctional" OPEC mean for the future of market management without one of its most important shock absorbers? How much of the world's energy infrastructure has been permanently damaged by the conflict? And what does the tipping point for global demand destruction actually look like?

Today on the show, host Daniel Sternoff talks with Yasser Elguindi about the latest developments in the Middle East. They discuss the UAE's motivations for leaving the cartel, the growing dichotomy between physical and futures markets, and how a "post-Hormuz" world will fundamentally reshape the global energy industry. Yasser is a partner and co-portfolio manager at the Westbeck Energy Opportunity Fund and a veteran oil market strategist with over 25 years of experience advising institutional investors through every major market shock of the 21st century.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

In this special episode Jason Bordoff, founding director of the Center on Global Energy Policy, sits down with Robin Pomeroy, host of the World Economic Forum podcast, Radio Davos, to talk about the global and likely lasting impacts of the current energy shock.

This episode is a crosspost originally published by Radio Davos.

During the first weeks of the war in Iran, most analysis focused on the immediate energy shock it triggered. To explore the longer-term implications of the conflict, Jason and Meghan O'Sullivan, director of the Belfer Center for Science and International Affairs at Harvard's Kennedy School, recently co-authored a piece for Foreign Affairs titled, "The Iran Shock, And the Dangerous Allure of Energy Autarky".

Jason joined Robin Pomeroy to discuss the article and how the largest oil supply disruption the world has ever seen is impacting near-term energy security while fundamentally reshaping the future of the industry. (Unfortunately, Meghan O'Sullivan was unable to join the recording due to illness.)

Our thanks to Robin and the World Economic Forum for collaborating with us to share this conversation.

The global order that shaped the past several decades is giving way to a more fragmented and uncertain world. Long-standing alliances are under strain, economic integration is giving way to competition, and geopolitical risk is once again a central driver of markets and policy.

These shifts are not abstract. They are reshaping trade flows, disrupting supply chains, and contributing to volatility in energy markets and the broader economy—affecting everything from fuel prices to the cost of goods.

So, how might great power competition, geopolitical fragmentation, artificial intelligence, and global instability redefine the international landscape? And what will that mean for policymakers, businesses, and the global energy system?

This week's episode features a fireside chat between Jason Bordoff and Ian Bremmer from the Columbia Global Energy Summit 2026, which was hosted by the Center on Global Energy Policy at Columbia University SIPA and recorded earlier today.

Jason and Ian examine the Iran crisis, the Islamabad talks, and the shifting dynamics of the Gulf region. They also address the "myth" of sovereign AI, China's strategy, and the deep structural concerns of global CEOs navigating today's volatility.

Ian Bremmer is the president and founder of Eurasia Group, a geopolitical risk advisory firm, and GZERO Media, a digital media company providing coverage of international affairs. He is the author of eleven books, including his latest work, The Power of Crisis: How Three Threats—and Our Response—Will Change the World. Ian also teaches at Columbia University's School of International and Public Affairs.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

It's been a head-spinning day in the Iran war. Earlier today, following a temporary truce between Lebanon and Israel, Iran announced that the Strait of Hormuz would be "completely open" to commercial shipping during this ceasefire. Initial reactions from President Donald Trump were optimistic, but that gave way to some confusion about what "open" actually means in practice. The president later clarified that the existing U.S. blockade on Iranian vessels would remain in place.

Despite the confusion, markets responded quickly. Brent crude dropped below $90 a barrel for the first time in weeks, though prices are still meaningfully elevated relative to pre-war levels. Even with the reprieve, much uncertainty looms as the U.S.-Iran ceasefire deadline of next Tuesday, April 21, approaches

So, what does this moment tell us about the future of energy security? How durable is the current ceasefire? And what energy system will this crisis leave behind?

Today on the show, host Jason Bordoff talks with Amos Hochstein about the recent developments in the Middle East. They discuss the long-term implications of Iran's control of the Strait of Hormuz, the war's geopolitical and energy market impacts, and where Amos thinks this conflict is headed in the near and longer term.

Amos served as deputy assistant and senior advisor for energy and investment to President Biden, and as special presidential coordinator for global infrastructure and energy security. He is a managing partner at TWG Global and a distinguished fellow at Columbia University's School of International and Public Affairs.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc

With an April 21 deadline looming, the Middle East remains suspended in a volatile state of war and peace. Regional mediators are scrambling to broker a second round of US-Iran talks before the current two-week ceasefire expires, hoping to narrow gaps over nuclear ambitions and the Strait of Hormuz to buy critical time for a lasting truce.

In this episode of Iran Conflict Brief, Daniel Sternoff is joined by Mohammad Ali Shabani to analyze the shifts in Tehran's decision-making and the precarious future of the current diplomatic reprieve.

Shabani, editor of Amwaj.media and a veteran analyst of Persian Gulf power dynamics, provides a rare look inside the competing circles of influence in Tehran. He and Daniel address a fundamental question: if the regime survives this conflict, can the Islamic Revolutionary Guard Corp ever pivot away from its "resistance" ideology, or is holding global energy flows hostage now an existential pillar of its survival?

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Energy abundance means different things in today's global context than it did even a decade ago. It is about expanding electricity access while meeting rising energy demand. It is about navigating geopolitical fragmentation, limited government support, shifting development priorities, and leveraging new technologies to deliver reliable power at scale.

But the challenge is not just technological. It is institutional and financial. Many low- and middle-income countries face high capital costs, limited access to financing, and policy frameworks that struggle to keep pace with growing demand.

Solving this challenge is a priority for both the Center on Global Energy Policy and the Rockefeller Foundation, which together have launched a new high-level panel to advance universal energy abundance. This initiative positions reliable, affordable energy as a cornerstone of economic growth, industrialization, and opportunity in emerging and developing economies.

So what does it take to move from energy scarcity and toward energy abundance? Can international institutions, governments, and investors come together to mobilize the scale of investment required? And how can emerging economies balance the urgency of expanding energy access with the need for affordability, reliability, and sustainability?

Today on the show, Jason Bordoff speaks with Rajiv Shah, president of The Rockefeller Foundation, about the high-level panel on universal energy abundance and its goals.

Rajiv leads The Rockefeller Foundation's mission to promote the well-being of humanity by ending energy poverty for more than a billion people, ensuring universal access to food, and strengthening health systems. During the Obama administration, he led the US Agency for International Development as its administrator. He also served on the National Security Council, where he elevated the role of development as part of a bipartisan foreign policy. Earlier in his career, Rajiv developed programs to address climate change and global food security at the US Department of Agriculture and held leadership roles at the Bill & Melinda Gates Foundation.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.

The conflict in Iran is a reminder of how quickly global energy markets can be disrupted. It also underscores why advances in things like battery technology — from electric transportation to grid-scale storage — are becoming central to energy resilience and security.

It has been about 50 years since British chemist Stanley Whittingham laid the foundation for the first lithium-ion battery at an Exxon research lab in New Jersey. In 2019, he and two other scientists, John Goodenough and Akira Yoshino, earned a Nobel Prize for the breakthrough. By then, lithium-ion batteries had transformed consumer electronics and a growing segment of the transportation sector. And today, battery storage is playing an increasing role in supplying new capacity to the eclectic power sector.

So what is the state of battery innovation today? Are there battery chemistries that could dethrone lithium-ion technology? How do mineral availability and environmental health play into the battery market? And what does the federal government's waning support for renewable energy mean for the battery industry?

Today on the show, Bill Loveless speaks with Dan Steingart about the arc of innovation in the battery space, and how different energy storage applications are evolving.

Dan is the Stanley-Thompson Professor of Chemical Metallurgy and a professor of chemical engineering at Columbia University. He also chairs the Department of Earth and Environmental Engineering and co-directs the Columbia Electrochemical Energy Center. Prior to joining Columbia in 2019, Dan was an associate professor at Princeton University.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.

On the eve of President Trump's deadline for Iran to reopen the Strait of Hormuz, the global energy landscape faces a moment of unprecedented risk. With dated Brent crude already surging past $140 a barrel, the threat of tit-for-tat infrastructure strikes looms over the region.

In this episode, Daniel Sternoff speaks with Ali Ansari about what's happening in Iran, how decisions are getting made, and how the regional energy landscape is being permanently reshaped.

The conversation delves into the fractured state of Iranian decision-making following the death of Khamenei and the rise of the Islamic Revolutionary Guard Corps as both a military and a corporate hegemon. Ali explains how the IRGC's "mosaic defense" strategy has devolved operational command to local levels, creating a political system that struggles to coordinate even basic utilities like gas and water for its citizens.

Ali Ansari is a professor of Iranian history and the founding director of the Institute for Iranian Studies at the University of St Andrews. He is also a senior associate fellow with the Royal United Services Institute and the author of multiple books on the politics of modern Iran.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

While US and Israeli forces have significantly degraded Iran's military and nuclear capability, the global energy landscape remains in a precarious position. For weeks, the Strait of Hormuz has been effectively shut to tanker traffic, causing physical markets to tighten and rationing to spread across Asia. With the US considering an "off-ramp" to declare victory, the world faces a critical dilemma: can the global economy survive a peace that leaves Iran in control of the world's most vital maritime chokepoint?

In this episode of the Iran Conflict Brief, host Daniel Sternoff speaks with Robin Mills to provide a view from the ground in Dubai. They discuss the reality of living under frequent drone and missile alerts, the "tit-for-tat" targeting of industrial infrastructure, and what it would take to reopen the Gulf. They also explore the long-term threat to the GCC's economic diversification models and the potential multi-year recovery timeline for regional LNG production.

Robin Mills is a Dubai-based non-resident fellow at the Center on Global Energy Policy and the CEO of Qamar Energy. With over two decades of experience in the Middle East, including roles at Shell and the Emirates National Oil Company, Robin is a leading authority on regional oil and gas business development and the author of The Myth of the Oil Crisis.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

During President Trump's second term, the administration has taken unprecedented action in the US private sector. The federal government's investments in critical mineral mining and chip manufacturing are two examples. The Trump administration has also embraced tariffs, framing them as tools for economic security and a domestic industrial revival.

This shift toward state intervention into private markets, done in the name of national security and economic security, has some bipartisan support. It also has major implications for energy security and the clean energy transition.

So how can this new form of American state capitalism be conceptualized? Is the Trump administration's use of these tools different from prior US government programs to support critical industries, like the Biden-era investments under the CHIPS Act? And what are the best strategies for aligning industrial policy with goals around energy security, supply chain resilience, and innovation?

Today on the show, Jason Bordoff speaks with Daleep Singh about how the US deploys economic statecraft and the need for a framework to guide its use.

Daleep Singh is vice chair and chief global economist at asset management firm PGIM and a thought leader on global policy and macroeconomic trends. He first joined PGIM in 2022, before serving the Biden administration as deputy national security advisor for international economics and deputy director of the National Economic Council. Earlier in his career, he held roles at the New York Federal Reserve and the US Treasury Department.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.

Today marks the last day of CERAWeek, the annual energy industry conference sometimes described as the Davos of energy. As oil and gas CEOs and government officials gathered in Houston, efforts to broker a ceasefire in Iran failed, and US oil and gasoline prices whipsawed.

Speaking at the conference, Energy Secretary Chris Wright said that the current supply disruptions would be short term, framing rising energy costs as a trade-off for the administration's goal of regime change in Iran. Meanwhile, some oil and gas CEOs warned of coming shortages and said the supply shock is not yet reflected in energy prices.

So, aside from a prevailing sense of instability, what are the takeaways from this year's CERAWeek? Where is the energy crisis headed from here? What have the supply shocks changed about how the industry thinks about risk and resource planning? How are events in the Gulf affecting the renewable, coal, and nuclear energy markets? And what does it all mean for global energy security?

Today, in a special edition of Columbia Energy Exchange, Jason Bordoff talks to Bloomberg opinion columnist Javier Blas to recap the events of the past week and to discuss how oil and gas supply disruptions are reverberating across the industry.

Prior to joining Bloomberg in 2015, Javier held a number of roles at the Financial Times, including Africa editor and the commodities editor. He is also the co-author of The World for Sale: Money, Power and the Traders Who Barter the Earth's Resources.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.

The month-long Iran conflict has rapidly expanded, drawing in actors across the Middle East and raising concerns about broader regional escalation. As a result, we're seeing impacts on energy markets around the world, including across the Indo-Pacific.

Roughly 80% of the oil and gas flowing through the Gulf is destined for Asia, and disruptions are already being felt in major importing economies like Japan and South Korea, which remain heavily dependent on Middle Eastern supplies.

But the consequences go beyond energy. The crisis is also adding a new layer of complexity to the U.S.-China relationship—reshaping how Beijing thinks about risk, security, and its role in an increasingly unstable global system.

So how is China interpreting these developments? What do they mean for the Indo-Pacific—both in the near term and over a longer horizon? And how might China's approach to energy security, supply chains, and statecraft position it in a more volatile world?

Today on the show, Jason Bordoff speaks with Kurt Campbell about what the current instability in the Gulf could mean for the Indo-Pacific. They also discuss an essay Kurt co-authored with Rush Doshi in Foreign Affairs, arguing for reorienting US diplomacy with China.

Kurt is the chairman of The Asia Group, which he co-founded in 2013. During the Biden Administration, he was deputy secretary of the United States Department of State. Before assuming his role at the State Department, Kurt served as the inaugural Indo-Pacific coordinator at the National Security Council and deputy assistant to the President at the White House.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.

Nearly a month in, the conflict in Iran appears to have hit a critical inflection point. Over the weekend, President Trump gave Iran a 48-hour ultimatum to open the Strait of Hormuz or face strikes on its power infrastructure, which Iran credibly warned would trigger reciprocal attacks on GCC energy infrastructure. President Trump then postponed those strikes after what the administration described as productive talks with Iran on ending the conflict—talks that Iran denied are happening.

Meanwhile, a supply shock of historic proportions is unfolding. Some 16% of world oil supply has been disrupted, more than double the volume disrupted during the 1970s oil shock. And a fifth of world LNG supply has been shut in, affecting 50% more volume than the 2022 Russian gas crisis. The world's largest release of strategic oil inventories will buy weeks but not months for most advanced economies.

In this episode of the Iran Conflict Brief, host Daniel Sternoff speaks with Greg Sharenow about how the energy shocks are reshaping the investment landscape.

Greg leads the commodity portfolio management group at asset management firm PIMCO. He co-manages PIMCO's Energy and Tactical Credit Opportunities strategies. Prior to joining PIMCO in 2011, he traded energy at Hess Energy Trading, Goldman Sachs, and D.E. Shaw.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, Alice Manos, and Kyu Lee. Engineering by Gregory Vilfranc.

As the conflict in ​the Middle East enters its 20th day, events on the ground have shifted into a critical new phase marked by direct strikes on core​ energy infrastructure. With the Strait of Hormuz closed for three weeks, effectively bottling up nearly a fifth of the world's oil and LNG supply, recent escalations have turned the crisis from energy flow disruptions to potentially long-term physical damage.

Following Israeli strikes on the South Pars gas field in Iran, retaliatory attacks hit Qatar's Ras Laffan—the world's largest LNG plant—and key energy assets across the UAE, Kuwait, and Saudi Arabia. Crude oil and natural gas prices have surged, signaling a shrinking toolkit for policymakers struggling to contain price volatility.

In this episode of the Iran Conflict Brief, host Daniel Sternoff ​t​alks with Anne-Sophie Corbeau to analyze the impact of these infrastructure attacks on global LNG supplies and energy security.

They discuss the extent of the damage to Qatari and Iranian production facilities and the intensifying pressure on global markets. They also discuss the possibilities, and reverberations, to a scenario where this leads Europe to a return to Russian gas.

Anne-Sophie is a global research scholar at the Center on Global Energy Policy and a leading authority on the intersection of geopolitics and natural gas.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The climate policy landscape in the US is in flux. Last month, the Environmental Protection Agency repealed its own power to regulate greenhouse gases. Two weeks later, the Supreme Court said it will hear a case which the city of Boulder, Colorado, brought against the oil companies ExxonMobil and Suncor that could determine the fate of lawsuits brought by cities and states against fossil fuel companies over damages from climate change.

Since its adoption in 2009, EPA's endangerment finding — which says that greenhouse gases harm public health and welfare — had formed the legal foundation for major federal climate regulations. In announcing its rescission, EPA Administrator Lee Zeldin called it the largest single deregulatory event in US history. But the repeal may be held up in courts for years, and it's just one piece of a complicated regulatory puzzle.

Petitions for review challenging the EPA's rescission of the endangerment finding are due in just over a month. So how might these major policy swings play out in practical terms? What are the near- and long-term stakes at the federal and state levels? What are the reactions from and the preferences of industry? And how might all of this play out in terms of US greenhouse gas emissions?

Today on the show, Bill Loveless speaks with Michael Gerrard and Jeff Holmstead about possible legal strategies and outcomes for challenges to both the endangerment finding rescission and the Boulder case.

Michael is the founder and faculty director of the Columbia University Sabin Center for Climate Change Law. Before joining Columbia in 2009, he practiced environmental law in New York for three decades. Jeff is a partner and co-chair of the Environmental Strategies Group at Bracewell, LLP, an international law firm. From 2001 to 2005, he served as the assistant administrator for air and radiation in the EPA during the administration of President George W. Bush.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

As the US-Israeli military campaign against Iran enters its third week, the complexities of the global energy landscape are deepening by the hour. Shut-ins of Middle Eastern upstream oil production are now approaching 10 million barrels per day, 20% of the world's liquefied natural gas remains shuttered, and the Strait of Hormuz is effectively closed to normal maritime traffic. And while a historic 400-million-barrel release from the US Strategic Petroleum Reserve helped blunt oil prices from rising further over a hundred dollars per barrel, flow rate limitations mean such stockpiles may only meet one fifth of the ongoing daily disruptions.

In this episode of the Iran Conflict Brief, host Daniel Sternoff sits down with Richard Nephew to give an update on the latest events in Iran. They provide an analysis of the ongoing military strikes, including the recent US targeting of Kharg Island and Iran's retaliation against the UAE's Fujairah port.

Richard is a senior research scholar at the Columbia Center on Global Energy Policy and the author of The Art of Sanctions. Over the past two decades, he has held a range of senior roles in the US government, including deputy special envoy for Iran, principal deputy coordinator for sanctions policy at the Department of State, and director for Iran at the National Security Council.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

In energy markets, all eyes are on the Strait of Hormuz. As of March 11, 2026, this vital passage is effectively closed to tanker traffic, stranding almost a fifth of world supplies of crude oil, oil products, and liquefied natural gas.

Yesterday, oil prices retreated sharply on a tweet from US Energy Secretary Chris Wright, claiming that the US Navy had escorted a tanker through Hormuz. That tweet was retracted, and was followed by reports that US intelligence had detected signs Iran had begun placing mines in the Strait.

To help sort through the quickly-changing events in the Middle East and dig into how they impact energy security, we are launching a new, limited series of the Columbia Energy Exchange podcast: the Iran Conflict Brief. To kick off the series, Daniel Sternoff, a senior fellow at the Center on Global Energy Policy, speaks with Mike Knights about what needs to happen in order for oil and gas flows to resume through the Strait of Hormuz.

Mike is an expert on Gulf and Middle East security and leads research at Horizon Engage, a strategic advisory firm. For over 20 years he has advised operators and investors in the region of political and security risks. He is also an adjunct fellow at the Washington Institute for NearEast Policy, where he co-founded the Militia Spotlight, focused on Iran-backed proxies.

Credits: Hosted by Daniel Sternoff. Produced by Mary Catherine O'Connor and Kyu Lee. Engineering by Gregory Vilfranc

The conflict in the Middle East is evolving with incredible speed, creating a landscape where the complexities of understanding both immediate and long-term outcomes have never been greater. W​e'll still be here every Tuesday for our deep-dive conversations​ on the global energy landscape. But the ​speed of events in Iran and ​across the region demands a different kind of coverage. That's why we're launching a new limited series:​ the Iran Conflict Brief. It's a rapid-response ​p​odcast ​hosted by ​Daniel Sternoff and other experts from Columbia​ University SIPA's Center on Global Energy Policy​. ​In conversations with other leading voices, we're going to ​help answer the biggest questions of the day in ​30 minutes or less. From the latest on​ policy shifts to ​g​lobal energy markets and geopolitical dynamics—we're tracking it all. Look for the first episode of the Iran Conflict Brief right here in your Columbia Energy Exchange feed.

Since the US-Israeli bombing campaign began in Iran, energy markets around the world have been on edge as the conflict threatens immediate and long-term energy supplies. We've seen major disruptions throughout the Gulf region, with the closure of the Strait of Hormuz and massive price spikes and swings in oil and natural gas.

This is of course exposing serious vulnerabilities across global energy markets and it's putting a spotlight on what's happening in the deeply integrated markets of Russia and China.

Even before the conflict started, Russia's energy sector was struggling under the weight of infrastructure damage inflicted by Ukrainian forces. But now Russia has emerged as an unlikely safety valve for the market, benefiting from the massive supply shortages.

Meanwhile, China finds itself in a precarious balancing act; it is being forced to look at alternative markets for relief and is reportedly reviving discussions around major energy projects, such as the Power of Siberia 2 natural gas pipeline with Russia.

So how is Russia responding to the current crisis? And how is it impacting China, which is particularly exposed to disruptions in Gulf energy flows? How might this crisis change Russia's approach to the European energy market? And is the conflict accelerating a deeper fragmentation — moving toward a world of competing energy blocs rather than a single global energy market?

Today on the show, Jason Bordoff speaks with Erica Downs, Tatiana Mitrova and Sergey Vakulenko about how the crisis in the Middle East is impacting Russia and China and what each country stands to gain or lose.

Tatiana is a global fellow at CGEP. She has deep expertise in Russian and global energy markets, including production and pricing.

Erica is a senior research scholar at CGEP, where she focuses on Chinese energy markets and geopolitics.

Sergey is a senior fellow at the Carnegie Russia Eurasia Center. Prior to this, he led strategy, innovations, and sustainability at the Russian oil producer Gazprom Neft.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

On February 28, the United States and Israel launched a campaign against Iran targeting military infrastructure and the regime's core leadership. Supreme Leader Ayatollah Ali Khamenei and several senior officials died in the attacks, which triggered a leadership crisis and inflamed tensions throughout the Middle East.

In the immediate aftermath, Iran launched extensive barrages of drones and ballistic missiles aimed at Israel, US military bases, ​and other targets in neighboring Gulf states. Energy prices rose sharply.

This regional shift carries immediate and enduring consequences for global geopolitics and the stability of international energy flows. ​The outcome of the conflict—and the ultimate fate of the Iranian regime—remains deeply uncertain. Even with these open questions, the trajectory of this escalation will likely redefine the future of Middle Eastern security, global power dynamics, and the world's energy markets.

How is the conflict evolving, and how might it end? What are the impacts on Gulf states and what are some of the possible paths forward? And how is this all impacting oil and gas markets across the globe?

Today on the show, Jason Bordoff speaks with four experts from the Center on Global Energy Policy—Anne-Sophie Corbeau, Richard Nephew, Daniel Sternoff, and Karen Young—to discuss the escalating conflict and its impact on energy and geopolitics.

Anne-Sophie is a global research scholar at CGEP, where she focuses on hydrogen and natural gas. She previously worked as a senior analyst at BP and the International Energy Agency.

Richard is a senior research scholar at CGEP and 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.

Daniel is a senior fellow at CGEP and heads its corporate partnership strategy.

Karen is a senior research scholar at CGEP with expertise in the Middle East focusing on geopolitics, the political economy of Gulf states, and energy policy.

The Center on Global Energy Policy at Columbia University SIPA is closely following the escalating conflict in Iran and its implications for US national security, Middle East geopolitics, and global energy markets. See all of our coverage here.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

President Trump has aggressively used tariffs as an economic tool, but a US Supreme Court decision on Friday struck down his sweeping tariffs, bringing new uncertainty. The court, in a 6-to-3 decision, ruled that the president had exceeded his authority when he imposed tariffs on nearly every US trading partner last year.

President Trump moved swiftly to work around the court by imposing levies using other trade powers. On Saturday, Trump said that he would raise the new global tariff rate to 15%, using a provision in a law that allows him to impose an across-the-board tariff. This measure can only be enacted for 150 days unless Congress agrees to extend it. Trump also said he would use the act to investigate other countries' unfair trade practices, which could result in additional tariffs.

What does the Supreme Court ruling mean for the president's ability to wield tariffs for geopolitical pressure? How will this impact US trading partners and existing trade deals? And what about the impact on the energy sector, from oil and gas to clean energy products?

Today on the show, Jason Bordoff speaks with two researchers from the Center on Global Energy Policy, Richard Nephew and Trevor Sutton, to unpack the ruling.

Richard 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. From 2013-2015, Richard also served as the Principal Deputy Sanctions Coordinator at the US Department of State.

Trevor focuses on the intersection of trade, climate, and industrial policy. He leads the center's program on trade and the clean energy transition. Trevor previously served as research director of the Remaking Trade for a Sustainable Future project.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Under the second Trump administration, the US Department of Energy significantly shifted its priorities to align with its "energy dominance" agenda. But one significant point of continuity with the Biden years is a continued emphasis on energy security.

Energy security means different things today than it did even a decade ago. It's about competing in the global race for artificial intelligence, reshoring manufacturing supply chains, and keeping the lights on as extreme weather events become more frequent and more destructive. But the administration's efforts to bolster energy availability at a time of surging load growth has included emergency orders to keep coal-fired power plants operating. And it has pulled back funding for new energy transmission projects that it says will not quickly lower energy costs for US consumers.

So when it comes to the administration's energy dominance agenda, what are the trade-offs between security and speed? What does the administration's waning support for renewables and low-carbon industries mean for American clean energy innovation in the coming decades? And how will the US build out new power capacity, including advanced nuclear, quickly and safely?

Today on the show, Jason Bordoff speaks to the acting under secretary of energy at the US Department of Energy, Alex Fitzsimmons, about the second Trump administration's energy policy priorities.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The Trump administration has prioritized nuclear energy expansion, aiming to increase US nuclear capacity fourfold by 2050. This nuclear energy resurgence in the US is a rare issue with bipartisan support, and tech companies have poured billions of dollars into sustaining nuclear power plants and building new reactors to supply AI data centers.

But accelerating nuclear power could mean changing environmental and safety reviews. And small modular reactors and other innovations in nuclear energy are likely years from commercial readiness.

So is there a way to reinvigorate nuclear energy in the US that's safe and fast? What would that mean for the power sector and the communities that support plants today, and future sites? Are there any signs that new technologies could address the perennial questions around nuclear safety? And what does all of this mean for national security and energy policy?

Today on the show, Bill Loveless speaks with Laura S. H. Holgate, Ambassador (ret.) about the state of nuclear energy innovation, safety, and governance.

Laura is the president of LSHH International Advisors and a distinguished visiting fellow at the Center on Global Energy Policy. She twice served as ambassador to the International Atomic Energy Agency. She has held multiple positions in and out of government, including vice president at the Nuclear Threat Initiative, special assistant to the president at the White House National Security Council, and a senior official at the departments of Energy and Defense.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

As political support for clean energy has waxed and waned over the past twenty years, so has the government's financial backing. In the 2010s, critics pointed to the failed solar startup Solyndra, which the Department of Energy had backed to the tune of half a billion dollars, as a poster child of wasteful spending.

But under President Biden, in addition to major clean energy incentives passed in the Inflation Reduction Act, the DOE's Loan Programs Office borrowing authority grew ten-fold. Now, under a second Trump administration, the tide turned again. The loan office, and clean energy spending, have scaled back significantly.

So how has federal support of nascent clean energy technologies evolved? What could be done today to lower energy costs while boosting the reliability of the electric grid? Where is domestic manufacturing headed and how does that impact both energy and national security? And what could be done today to lower energy costs while boosting the reliability of the electric grid?

Today on the show, Jason Bordoff speaks with Jigar Shah to discuss the current state of clean energy investing and innovation.

Jigar is the co-managing partner at the clean tech advisory firm Multiplier and co-hosts the Open Circuit podcast. He directed the DOE's Loan Programs Office during the Biden administration. Before that, he co-founded and was the president of the investment firm Generate Capital. Early in his career he co-founded the solar service company SunEdison.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

With electricity prices on the rise, the future of our power grid is attracting a lot more attention. Surging demand is at the center of the story, but the power sector is also grappling with supply chain bottlenecks and aging infrastructure – all while trying to balance capacity growth with reducing emissions.

This isn't just a technical challenge. Energy affordability and equity are reshaping debates about energy policy, permitting reform, and climate goals.

So, what's really behind rising prices? What are the best ways to balance the need to build capacity with the interests of communities? What role can research play when it comes to steering energy policy? And what lessons can Texas teach us about all of these concerns?

Today on the show, Jason Bordoff speaks with Michael Webber about the costs of energy; the challenges of permitting reform; and the need to build more energy faster.

Michael Webber is a professor at the University of Texas at Austin. He's the author of multiple books on energy, including Power Trip and Thirst for Power, both of which were adapted into award-winning PBS documentary series. In addition to his academic post, Michael previously served as CTO of the venture fund Energy Impact Partners, and as chief science and technology officer at ENGIE.

Note: This conversation was recorded in early December.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

From the affordability crisis and the data center boom, to the US government's campaign to reinvigorate the Venezuelan oil market, energy is dominating headlines in unusual ways.

And that's all happening against a backdrop of upheaval in federal energy policy, which started on day one of the second Trump administration. As we begin the new year and head into midterm elections, there's a dizzying number of crucial energy policy issues at play.

So what issues are shaping US climate and energy policymaking in 2026? How might upcoming court rulings change things? As high utility bills persist, how is the public responding to changes in energy policy? And what stories or trends are not being told amid all of these important energy storylines?

Today on the show, Bill Loveless speaks with reporters Maxine Joselow and Josh Siegel about covering energy and climate policy, and what key stories and trends they're covering in 2026.

Maxine Joselow is a reporter for The New York Times where she covers climate policy from Washington D.C. Before joining The Times Maxine covered climate change and the environment for The Washington Post. Earlier, she was a reporter at E&E News.

Josh Siegel is an energy reporter for POLITICO, where he focuses on Congress. He also hosts the POLITICO Energy podcast. Previously, he covered the energy beat for the Washington Examiner where he wrote the Daily on Energy newsletter.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Great power competition—particularly between the United States and China—is intensifying. This rivalry is reshaping everything from technology supply chains and energy security to the future of artificial intelligence.

This is happening at a time when US relations with India and Europe are under strain, largely due to policy uncertainty and the administration's new trade strategies.

So how should the US navigate this new era of great power competition? How do we balance economic competitiveness with security and energy objectives? Where do critical technologies like AI and clean energy fit into this geopolitical chess match? And what can cooperation, dialogue, and diplomacy do to address all of these issues?

Today on the show, Jason Bordoff speaks with Anja Manuel about the state of global competition and the critical intersection of energy and national security.

Anja is a co-founder and partner at Rice, Hadley, Gates & Manuel LLC, a strategic consulting firm. She's also the executive director of the Aspen Strategy Group and the Aspen Security Forum, one of the premier bipartisan assemblies for foreign policy in the United States. Previously, Anja served as special assistant to the undersecretary for political affairs in the U.S. Department of State. She's the author of "This Brave New World: India, China, and the United States."

Note: This episode was recorded in mid-December and does not reflect the most recent events in Venezuela.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Early on January 3, 2026, the United States apprehended Venezuelan President Nicolás Maduro and his wife and removed Maduro from power. Maduro was transported to New York, where he now faces federal charges of narco-terrorism and drug trafficking.

The situation in Venezuela remains highly fluid, as does the US policy response. President Trump has signaled a dramatic expansion of US objectives. He has suggested the US will be "running" the country during a transition and is seeking direct access to Venezuela's massive oil reserves.

In Caracas, interim President Delcy Rodríguez condemned the operation but has expressed a willingness to negotiate. Meanwhile, the role of democratic opposition leader María Corina Machado remains unclear.

Venezuela possesses the largest oil reserves in the world and these developments raise important questions for global energy markets at a time of ongoing geopolitical uncertainty. What's the future of Venezuelan oil? And how might US sanctions and foreign policy decisions reshape energy flows in the region and beyond?

Today on the show, Jason Bordoff speaks with three leading experts at the Center on Global Energy Policy, Luisa Palacios, Richard Nephew, and Daniel Sternoff, about the recent events in Venezuela and their wide-ranging implications.

Luisa previously served as chairwoman of Citgo Petroleum Corporation, the US refining arm of Venezuela's state-owned oil company, PDVSA. Richard formerly was the US deputy special envoy for Iran among several other government roles focused on sanctions and foreign policy. Before joining the Center, Daniel led Energy Aspects' executive briefing service.

The Center on Global Energy Policy at Columbia University SIPA is closely following recent US actions in Venezuela and their impact on geopolitics, policy, and global energy markets. Follow us @ColumbiaUEnergy for more insights and updates. See all of our coverage here.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

This has been a crucial year for US energy policy. The passage of the One Big Beautiful Bill Act eliminated many of the clean energy incentives that were centerpieces of Biden-era climate policy.

The rollback of key climate provisions from the Inflation Reduction Act led to contentious debate over America's energy future. With so many shifting priorities and questions around the direction and the pace of the energy transition, it's unclear what 2026 will bring.

So how are policymakers facing these challenges and working to accelerate clean energy deployment in a shifting political environment? What does pragmatic energy policy look like in an era of deep partisanship? And what should the policy response be to rising electricity demand and costs in the United States?

Today on the show, we're revisiting a conversation that Jason Bordoff had back in September with Illinois Congressman Sean Casten. They discussed the state of clean energy deployment in the US.

Congressman Casten represents Chicago's western suburbs and serves on both the House Financial Services Committee and the Joint Economic Committee. He's also vice chair of the Sustainable Energy and Environment Coalition. Before entering Congress, Rep. Casten was a clean energy entrepreneur and consultant, serving as CEO of Turbosteam Corporation and as founding chairman of the Northeast CHP Initiative.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Over the past week, President Trump has intensified pressure on Venezuelan president Nicolás Maduro by targeting the regime's economic lifeline—oil. The United States has seized two oil tankers and is in pursuit of another, following President Trump's declaration of what he called a "total and complete blockade" of vessels carrying Venezuelan crude subject to US sanctions.

The move places one of Venezuela's most valuable and strategic assets squarely at the center of the conflict. The country holds an estimated 17 percent of the world's oil reserves and produces nearly one million barrels per day, nearly all of which is exported. Targeting these exports and the use of a naval blockade carries serious implications, raising questions about the potential for further escalation.

How is the standoff between Washington and Caracas evolving? What diplomatic or economic off-ramps—if any—remain? And what does all of this mean for global energy markets already navigating a fragile balance of supply, sanctions, and geopolitical risk?

This week, Jason Bordoff speaks with Luisa Palacios and Eddie Fishman about the Trump administration's strategy in the region.

Luisa leads the research team and is a scholar at the Center on Global Energy Policy. Previously, she served as chairwoman of CITGO Petroleum Corporation, the US refining arm of Venezuela's state-owned oil company, PDVSA.

Eddie is a senior research scholar at the Center on Global Energy Policy. He is the author of the bestselling book Chokepoints: American Power in the Era of Economic Warfare, which was named a finalist for the Financial Times Business Book of the Year.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

If it seems like you're hearing a lot more about geothermal energy lately, that's because this clean, firm energy source is at a technological turning point.

With roots in the 1970s, enhanced geothermal systems aren't exactly new. But they're finally hitting paydirt — or rather, steam — thanks to improved drilling techniques borrowed from the fracking boom.

These advances have made geothermal energy production potentially viable outside of the Western states in the US, where it's long been a small but steady source of power.

So what is the state of geothermal energy and what's behind the current surge in innovation? How are falling costs and sustained policy support helping geothermal producers gain more traction right now? And what are the next technical frontiers that could lead to even more productive geothermal wells?

This week, Bill Loveless speaks to Roland Horne about the state of geothermal technology, particularly enhanced geothermal systems.

Roland is the Thomas Davies Barrow professor of earth sciences, professor of energy science and engineering, and director of the geothermal program at Stanford University. He's also a senior fellow at Stanford's Precourt Institute for Energy. Over his career, he has made significant technical contributions to the field of geothermal energy production

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Investment in clean energy technologies is on course to hit a record $2.2 trillion this year, according to the International Energy Agency. That's more than twice the amount invested in fossil fuels.

But 2025 also brought lots of geopolitical, economic, and political uncertainty to clean technology investing. Waning enthusiasm for climate action in some governments and intensifying trade wars have created more risk for many investors.

So how much are these policy shifts impacting climate investment strategies? How have investors in the United States reacted to the roll-back of some key incentives in the Inflation Reduction Act? What technologies are most promising? And where is the climate investing landscape headed in the next decade?

This week, Jason Bordoff talks to Emmanuel Lagarrigue about the state of renewables and clean tech investing.

Emmanuel is a partner and the global co-head of KKR's climate transition strategy. Before that, he was a founding partner of BeyondNetZero, a General Atlantic fund focusing on decarbonization technologies. Emmanuel spent the first two decades of his career at Schneider Electric, where he held a number of leadership roles. He is also an advisory board member here at the Center on Global Energy Policy.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The national conversation around climate change is shifting. There's more focus on energy affordability and demand, as well as on the dual role artificial intelligence plays as both a climate problem and potential tool for lowering emissions. Likewise, there's been a shift in how the media covers these issues.

Research shows that news coverage of climate has declined in recent years — as have the number of local newsrooms. Yet, surveys indicate that news consumers want more coverage of climate change. So do reporters and editors, based on strong interest in the Energy Journalism Fellowship at the Center on Global Energy Policy.

So what's the state of energy and climate journalism? How have shrinking newsrooms, eroding trust in news institutions, and the rise of AI impacted this beat? And what are the most powerful levers energy and climate reporters can use right now to reach wider audiences and cover the energy transition thoroughly and with integrity?

This week, Bill Loveless talks to Amy Harder about the state of energy and climate journalism.

Amy is the national energy correspondent for Axios and has been covering energy and climate for more than 15 years. She was among the first reporters to join Axios after its launch in 2017, but from 2021 until earlier this year she was founding executive editor of Cipher News, backed by Breakthrough Energy, a network of clean energy organizations. She began her career at National Journal, and then worked for The Wall Street Journal.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The Federal Energy Regulatory Commission regulates the United States' energy transmission, pipeline networks, and wholesale rates for electricity. For much of its history, FERC was a little-known federal agency. But that's changing.

Today, topics like energy affordability and the urgent build-out of data centers to support AI are putting FERC in the spotlight. The Trump administration is also exerting pressure on the agency. This fall, Energy Secretary Chris Wright directed the commission to fast-track grid connections for certain large loads, such as data centers. But many communities have pushed back against new energy infrastructure.

So how is this independent agency handling pressures to reform its policies? How might politics play out — or not — in its rulings and in key court decisions that impact the agency? Outside of the agency, what are some solutions to building more energy infrastructure faster?

This week, Jason Bordoff talks to Neil Chatterjee about FERC's role in energy policy.

Neil is a former commissioner of FERC, where he also twice served as chairman. Neil recently joined the Center for Global Energy Policy as a distinguished visiting fellow. He also currently is an advisor and investor in a number of organizations and is the chief government affairs officer at residential clean energy company Palmetto. Early in his career, Neil worked for Senator Mitch McConnell, R-Ky., as his energy policy advisor.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Around the globe, and here in the United States, energy markets face huge uncertainties. They include everything from rising geopolitical tensions to a wave of new liquefied natural gas supply, and from concentrated critical mineral supply chains to growing demand for electricity.

These uncertainties are reflected by the International Energy Agency in this year's World Energy Outlook, which explores a range of possible energy futures — particularly around oil and gas demand.

So how have energy policies at the country level, growing economic warfare, and rising prices impacted the IEA's outlook? How should we understand the role of energy security and geopolitical risk? Here in the US, how have energy policy shifts impacted the outlook? And what role do the transition to electric mobility and the pace of energy innovation play?

This week, Jason Bordoff talks to Tim Gould about this year's World Energy Outlook, the IEA's flagship annual report. It projects a world with as much as 3 degrees of warming by 2100, under current policies, or with as little as 1.5 degrees of warming by 2100 if global energy systems quickly decarbonize.

Tim is the International Energy Agency's chief energy economist. As part of this role, he co-leads the World Energy Outlook. Tim joined the IEA in 2008 as a specialist on Russian and Caspian energy. Before joining the agency, Tim worked on European and Eurasian energy issues in Brussels.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Elected officials face huge challenges when it comes to energy policymaking. They have very little time to learn complicated, nuanced issues. They're bombarded by information — some of it from organizations that are tightly aligned with ideological or political movements.

Whether it's from industry or civil society, the information policymakers receive, even if accurate, can often come with an agenda. Plus, translating academic research into policy comes with its own challenges. All of this makes building energy policy based on independent, trusted expertise difficult, especially in a time of deep partisanship.

So how can evidence and analysis best be used to design and build good energy policy? How can philanthropy drive innovative solutions to pressing challenges, like the energy transition? Where are the disconnects between high-quality research and thoughtful policymaking, and how can those efforts be bridged?

This week, Jason Bordoff speaks with John Arnold about the hurdles and opportunities for building energy infrastructure and the power of evidence-based policymaking.

John Arnold is co-founder and co-chair of Arnold Ventures, a philanthropic organization that supports initiatives in a range of sectors. He is also co-founder of Grid United, which develops high-voltage transmission projects. Previously, John was the CEO of Centaurus Energy. He started his career at Enron, where he oversaw the trading of natural gas derivatives. John is also an advisory board member at the Columbia Center on Global Energy Policy, and serves on the board of other organizations, including Meta.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The ten years since the Paris Agreement was signed at the UN Climate Change Conference, COP 21, have been the ten hottest years on record. And the outcome that the Paris Agreement sought — limiting global temperatures to 1.5 degrees Celsius above pre-industrial levels — is now widely considered unattainable.

There are other hurdles as well. Many nations have not submitted climate action plans, or nationally determined contributions, to the UN. And President Trump says he plans to re-withdraw the US from the Paris Agreement. Still, the UN Framework Convention on Climate Change marches on. Next week, delegates, activists, and journalists will converge in Belém, Brazil, for the 30th Conference of the Parties, or COP30.

So what are some of the possible outcomes of this year's climate summit? Will the absence of the United States even matter? Will the issue of climate equity and financing garner much attention? And what could come from a new forum that Brazil is planning, where governments will discuss how climate policy affects trade?

This week, Bill Loveless speaks with Elliot Diringer about the issues that are likely to dominate the upcoming COP.

Elliot is a global fellow at the Center on Global Energy Policy directing its International Dialogue on Climate and Trade. He brings decades of experience in climate diplomacy as a negotiator, journalist, and policy strategist. He first engaged with the topic as a reporter covering the 1992 Earth Summit in Rio de Janeiro and later served in senior roles in the Clinton administration, the Center for Climate and Energy Solutions, and more recently as a senior policy advisor to Special Presidential Envoy for Climate John Kerry during the Biden administration.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Last week, President Trump announced that he was imposing significant new sanctions on Russia. It's an effort to cut off revenue Russia needs for its war in Ukraine. This comes at a time when Russia's oil industry is also under pressure from intensifying Ukrainian attacks on refineries, crude pipelines, and export terminals.

It's also happening as producers have been ramping up output amid signs of cooling demand growth. Yet the sanctions could still bite. Especially given that the Treasury sanctions announcement came with the explicit warning that secondary sanctions—targeting buyers of Russian crude oil from these companies—could be coming next.

So why did Trump take this step now? Will these sanctions be strongly enforced? What's the point of these sanctions? And what do they mean for global energy flows, energy markets and geopolitics?

This week, we are sharing a recording of a Rapid Response webinar from Monday, October 27, in which Jason Bordoff spoke with three experts from the Center on Global Energy Policy — Richard Nephew, Tatiana Mitrova, and Daniel Sternoff — about these new Russian oil sanctions.

Richard Nephew is senior research scholar at the Center on Global Energy Policy and a former U.S. Deputy Special Envoy for Iran. Tatiana Mitrova is a global fellow at the Center and has deep expertise in Russian and global energy markets. Daniel Sternoff is a senior fellow at the Center. He also leads Energy Aspects' executive briefing service.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Energy has long been used as a weapon. The United Kingdom blocked oil exports to Germany during World War I. Hitler's fall was due in part to losing access to oilfields in the Caucasus. And the most recent example: the 1973 Arab oil embargo, which shocked the global economy.

During the following fifty years, the energy weapon largely receded from the geopolitical stage, and in many countries energy security started to feel like a given. But developments including Russia's weaponization of natural gas against Europe, China's restrictions on critical minerals, and growing trade tensions around the world have brought energy back to the center of great-power competition.

So is this a new age of energy weaponization? What would that mean for global energy security? What new vulnerabilities are emerging as the clean energy transition accelerates and electricity demand surges? And how can countries protect themselves in this new age of fragmentation and rivalry?

This week, Bill Loveless speaks with Jason Bordoff and Meghan O'Sullivan about "The Return of the Energy Weapon," a Foreign Affairs essay published today, in which they explore how, after a fifty-year period of relative stability, the use of energy as a coercive tool of statecraft is making a comeback.

Jason is the founding director of the Center on Global Energy Policy at Columbia University's School of International and Public Affairs, where he is a professor of professional practice. He is also on the faculty of the Columbia Climate School, where he is cofounding dean emeritus. He previously served as special assistant to President Barack Obama and senior director for energy and climate change on the staff of the National Security Council.

Meghan is the Jeane Kirkpatrick Professor of the Practice of International Affairs, director of the Geopolitics of Energy Projects, and director of the Belfer Center for Science and International Affairs at Harvard University's Kennedy School. She has served in multiple senior policymaking roles and has advised national security officials in both Republican and Democratic administrations.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Trade tensions between the US and China have hit a new high mark. Last week, after China announced plans to ratchet up its export controls of some rare-earths and magnets with strategic uses, President Trump threatened to retaliate with 100% tariffs, which would go into effect on November 1 or sooner. But the competition between these two world powers goes far beyond trade disputes and tariffs. It's a contest between fundamentally different approaches to governance, technology, and economic development.

China, of course, dominates critical supply chains for clean energy technologies. But many of the innovations that spawned those technologies were born here in the US. China builds, and governs through strong state control. The US innovates, but struggles to build.

How did these two nations develop such different capabilities? What does China's dominance in manufacturing mean for American competitiveness and national security? And can the United States learn from China's approach to building at scale without sacrificing democratic values and individual rights?

This week, Jason Bordoff speaks with Dan Wang about his recent book Breakneck: China's Quest to Engineer the Future. They discuss the book's framing — that China is an engineering state and America as a lawyerly society — and how those orientations undergird what, and how, these world powers produce.

Dan is a research fellow at Stanford University's Hoover History Lab and studies China's technological capabilities. He was previously a fellow at the Yale Law School's Paul Tsai China Center and a lecturer at Yale University's MacMillan Center for International and Area Studies.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Industrial policy, supply chain security, and economic competitiveness are central to how we think about clean energy deployment. As the Trump administration pulls back federal support for the clean energy transition, there are more and more calls for pragmatism and realism.

The shifting conversation around clean energy is visible in other ways, too. During last month's Climate Week in New York, there was more focus on a broader set of energy policy goals that included not only decarbonization but also energy security, energy affordability, and energy for economic development.

So what does effective energy policy look like in this new era and under new pressures? How should we balance climate ambitions with energy security and economic competitiveness? And what does all of this mean for domestic leadership and investments in things like manufacturing and modernizing the electricity grid?

This week, Jason Bordoff speaks with Sarah Ladislaw about the risks and opportunities they both see in this evolution towards building a better energy system.

Sarah is managing director of the US Program at Rocky Mountain Institute, where she leads work on federal, state, and local energy policy, and runs the New Energy Industrial Strategy Center. Previously, she worked in the Biden White House, leading climate and energy efforts within the National Security Council. Before that, she was senior vice president 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 Gregory Vilfranc.

Last year, an energy permitting reform bill sponsored by Senators Joe Manchin and John Barrasso passed out of committee but failed to gain full support in the US Senate. Since then, rising energy costs and infrastructure backlogs have only heightened pressure on Congress to take another run at reforming the National Environmental Policy Act (NEPA).

As a result, momentum behind permitting reform is building again. Several legislative efforts are underway, most notably the bipartisan SPEED Act, which would change NEPA requirements in order to streamline the permitting process. It would also set limits on judicial review.

So how likely is meaningful permitting reform, this time around? How would it enable timely development of energy infrastructure without jeopardizing environmental concerns? And what might make it feasible to supporters of fossil and renewable energy alike?

This week, Bill Loveless speaks to Jim Connaughton about shifting motivations for permitting reform in DC, and whether policymakers can find enough common ground to push reforms forward.

Jim is the CEO of JLC Strategies and the former chairman and CEO of Nautilus Data Technologies. During the George W. Bush administration, he served as chairman of the White House Council on Environmental Quality and directed the White House Office of Environmental Policy.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Following the rollback of key climate provisions from the Inflation Reduction Act, the debate over America's energy future is increasingly contentious. The passage of the One Big Beautiful Bill Act has eliminated, or at least cobbled, many of the clean energy incentives that were centerpieces of Biden-era climate policy.

This week, climate policymakers, business leaders, investors, and advocates are converging in New York City for Climate Week. With so much happening and many questions around the pace of the energy transition, it's a crucial moment in US energy policy.

So how are policymakers facing these challenges and working to accelerate clean energy deployment in a shifting political environment? What does pragmatic energy policy look like in an era of deep partisanship? And what should the policy response be to rising electricity demand in the US?

This week, Jason Bordoff speaks to Congressman Sean Casten about the current state of clean energy deployment in the US.

Congressman Casten represents Illinois's 6th congressional district and serves on both the House Financial Services Committee and the Joint Economic Committee. He's also vice chair of the Sustainable Energy and Environment Coalition. Before entering Congress, Rep. Casten was a clean energy entrepreneur and consultant, serving as CEO of Turbosteam Corporation and as founding chairman of the Northeast CHP Initiative.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Everyone from energy executives to traders on Wall Street to policymakers across the US depend on accurate, timely information about energy production, consumption, and trends. At the heart of this critical infrastructure sits the US Energy Information Administration (EIA). Daniel Yergin, vice chairman of S&P Global, has called EIA's data the "gold standard."

But while the amount and complexity of energy data is growing, federal support for ensuring robust energy data collection is waning. The agency underwent substantial staffing cuts this spring — part of the Department of Government Efficiency's reductions. After the EIA's most recent Annual Energy Outlook forecast the growth of renewables, the Department of Energy criticized the findings.

So how vulnerable is the agency to losing more support from the administration? What's at stake if EIA cannot retain or recruit people with expertise in not only traditional energy but emerging fields, like critical minerals? And who else stands to lose if the agency that provides national energy data collection and objective analysis falters?

This week, Bill Loveless speaks to former EIA Administrator Adam Sieminski about the state of play at the EIA and what is at risk if support for the agency continues to erode.

Adam is a senior advisor to the board at KAPSARC, a non-profit energy, economics, and sustainability think tank in Saudi Arabia, where he earlier served as president. He was the administrator of the EIA from 2012 to 2017. Prior to joining the government, Adam spent years as Deutsche Bank's chief energy economist and integrated oil company analyst.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Before it invaded Ukraine, Russia was Europe's single largest supplier of imported natural gas. But now that the European Union is considering an outright ban on all Russian gas by the end of 2027, Russia is pivoting to Asia, courting China as both a crucial new market for its gas and an important geostrategic ally.

When Russian President Vladimir Putin traveled to China at the end of August, the visit produced a series of cooperation agreements. Among them: a deal between Gazprom and the China National Petroleum Corporation to advance the long-discussed Power of Siberia 2 pipeline, a massive project that, if completed, could send 50 billion cubic meters of Russian natural gas to China each year. But the announcement is short on many details, including pricing, financing, and a timeline.

So what — beyond symbolism — does this deal actually deliver for both Russia and China in the short term? What prompted China to sign the agreement after years of delays? And what does it tell us about China's efforts to diversify its energy imports?

This week, Jason speaks with three scholars from the Center on Global Energy Policy (CGEP), Anne-Sophie Corbeau, Tatiana Mitrova, and Erica Downs, about the possible impacts of the Power of Siberia 2 pipeline agreement. The trio also recently co-authored a post about the PoS2 news on the CGEP website.

Anne-Sophie is a global research scholar at CGEP, where she focuses on hydrogen and natural gas. She previously worked as a senior analyst at BP and the International Energy Agency. Tatiana is a CGEP research fellow with twenty five years of experience dealing with Russian and global energy markets. Erica is a senior research scholar at CGEP, where she focuses on Chinese energy markets and geopolitics. Earlier in her career she held senior roles in the China Studies program of the CNA Corporation and at Eurasia Group.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The rollback of the Inflation Reduction Act through the One Big Beautiful Bill Act has reshaped America's climate and energy landscape by cutting tax incentives for wind and solar power and electric vehicles while maintaining some federal support for sources like nuclear reactors and geothermal plants.

While there is some uncertainty about how those policy changes will play out, there are even broader questions about what this all means for the Republican Party's energy policy agenda and approach to climate change.

So where is the party headed and what could bipartisan cooperation on energy policy look like in today's Washington? Can Republicans and Democrats still find common ground on issues like climate adaptation, energy security, and permitting reform? And what is shaping the Republican Party's approach to energy policy?

This week, Jason talks to Carlos Curbelo about the current state of Republican thinking on energy and climate policy.

Carlos is a former member of the U.S. House of Representatives. He served Florida's 26th congressional district from 2015 to 2019. During his time in Congress, Carlos was a leading Republican voice on climate policy, co-founding and co-chairing the bipartisan Climate Solutions Caucus. After leaving Congress, Carlos served as a distinguished visiting fellow at the Center for Global Energy Policy. He also co-founded Vocero, a communications and strategic consulting firm based in South Florida.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Jensen Huang, who founded NVIDIA in the early 1990s and built it into one of the most valuable companies in the world today, has thought a lot about AI's impact on global energy and climate systems.

Jensen has much to say about AI's potential benefits for energy innovation, power demand for AI, and a range of related topics, as David Sandalow — the inaugural fellow here at the Center on Global Energy Policy — learned when interviewing him.

Today, we're bringing you their conversation in full from the AI Energy and Climate podcast which originally aired in April of this year.

Jensen and David explore why AI requires so much energy, but also how the technology can actually reduce energy consumption in applications from weather forecasting to manufacturing. Jensen describes innovations like silicon photonics that could save megawatts of power in data centers, and he shares a few ideas for using AI to improve efficiency in the industrial and power sectors. Moreover, he explains his vision for what he calls "AI factories" — and how they could be powered in ways that can reduce strain on the grid.

Jensen Huang is the president of NVIDIA, which he founded in 1993 to advance accelerated computing. In 1999, NVIDIA released the GeForce 256 which it called "the world's first GPU". It became a key enabler of PC gaming and computer graphics, and ignited the era of modern AI.

In July, the Trump administration released what it calls an AI action plan. In it, along with several executive orders, the White House lays out its vision for building and expanding the country's AI infrastructure.

Key tenets of that vision include removing regulatory hurdles and accelerating US dominance in the industry. It also has broad energy and security implications.

So how could the administration's high-risk, high-reward approach increase US market share in AI? Will it create tensions with major AI companies while potentially democratizing access to AI capabilities? And how does the plan diverge from Biden-era AI support, especially around environmental and energy considerations?

To discuss the action plan, we convened some of the leading AI experts at the Center for Global Energy Policy in early August, and this week on Columbia Energy Exchange we are sharing an audio recording of their discussion.

David Sandalow, CGEP's inaugural fellow and the host of the AI, Energy and Climate podcast, moderated the panel. David also co-directs the Energy and Environment Concentration at the School of International and Public Affairs at Columbia University and was the lead author of the "Artificial Intelligence for Climate Change Mitigation Roadmap" report for the Innovation for Cool Earth Forum.

Aaron Bartnick, Jared Dunnmon, and Ashley Finan joined David on the webinar.

Aaron Bartnick is a global fellow at CGEP, where he focuses on technology and economic security. He also serves as chief of staff at the neural engineering company Science Corporation and as a fellow at Carnegie Mellon University's Critical Technology Initiative.

Jared Dunnmon is a non-resident CGEP fellow and the co-founder and chief scientist of a maritime logistics startup. He previously served in the Department of Defense as technical director for artificial intelligence at the Defense Innovation Unit, was vice president of future technologies at battery firm Our Next Energy, and was an early team member at Snorkel AI.

Ashley Finan is a CGEP global fellow who previously served in senior leadership roles at Idaho National Laboratory, where she worked on nuclear energy and national security issues.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

After President Trump and Indian Prime Minister Modi met in the White House back in February, US-India relations appeared to be on solid ground. Back then, Trump was still confident he could broker a quick resolution in Russia's war against Ukraine.

Then, last week, the Trump administration said that if India continues to import Russian oil, the US will double tariffs on Indian goods, starting August 27. This move threatens to undermine relations between the US and India — and it could impact more than India's energy imports. The dispute is forcing bigger questions about India's approach to foreign policy and the country's long-standing policy of strategic autonomy.

So will India bow to US pressure and reduce its Russian energy imports? Or will India continue to import a significant amount of oil from Russia? And what does all of this mean for global energy markets and the use of coercive economic tools like tariffs or sanctions in the years ahead?

In this special episode of Columbia Energy Exchange, Jason speaks with Richard Nephew, Tatiana Mitrova, and Shayak Sengupta about this latest development in President Trump's trade war.

Richard Nephew is a senior research scholar at the Center on Global Energy Policy (CGEP) and former US Deputy Special Envoy for Iran, where he played key roles in economic sanctions policy.

Tatiana Mitrova is a global fellow at CGEP and former deputy director general of the National Energy Security Fund in Moscow. She brings deep expertise on Russian energy markets.

Shayak Sengupta is a senior research associate at CGEP and leads its India program. He's an expert in South Asian energy policy and US-India relations.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by James Rowlands.

President Trump's threat to double tariffs on Indian goods, to 50%, as punishment for the country's continued purchase of Russian oil, puts India in an untenable position. The US is its top export market, but India is deeply reliant on importing energy to support the needs of its 1.4 billion people.

As the world's most populous nation and one of its fastest-growing economies, India faces unprecedented energy demands and also pressure to meet that demand with clean energy. Today, around 70 percent of the country's electricity comes from coal — a major contributor to air pollution in India's large cities.

So how can India meet its fast-growing energy needs while also ensuring energy affordability, equity, and public health? Where is India in making progress toward deploying clean energy? What role might conventional energy continue to play? And how does India's relationship with China factor into its decarbonization efforts?

This week, Jason talks to Sunita Narain about the state of India's clean energy transition.

Sunita is executive director of the Centre for Science and Environment, a research and advocacy center where she has worked since 1982. In 2016, Time magazine named her one of the 100 most influential people in the world.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The US Environmental Protection Agency plans to rescind the foundation of its authority to regulate greenhouse gas emissions under the Clean Air Act.

Eliminating the so-called "endangerment finding" is a key part of President Trump's efforts to reverse Obama- and Biden-era climate policy. The finding was also targeted in the conservative Project 2025 strategy to reshape the federal government. But the rollback won't happen without a fight, and the endangerment finding has held up to past legal challenges.

Meanwhile, international courts are moving in the opposite direction. The International Court of Justice recently ruled that countries have legal obligations to address climate change and that fossil fuel subsidies could constitute "internationally wrongful acts."

So what would overturning the endangerment finding mean for US climate policy? What legal and scientific arguments is the administration using? And how do these conflicting domestic and international trends shape the future of energy and climate policy?

This week, Bill speaks to Michael Gerrard about how the EPA is rescinding its own ability to regulate greenhouse gases.

Michael is the founder and faculty director of Columbia's Sabin Center for Climate Change Law. Before joining Columbia in 2009, Michael practiced environmental law in New York for three decades.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Six months in, President Trump's trade war has entered a new phase. Just this weekend, the European Union agreed to a trade deal that includes a promise to buy $750 billion worth of American energy products over the next three years. And this week, with the August 1 tariff deadline looming, the US and China have restarted negotiations.

Trump has been using tools of economic warfare since his first term. And the Biden administration embraced policies such as steep tariffs on electric vehicle imports from China, and levying sanctions against Russia aimed at stifling its energy sector.

These economic chokepoints are part of a broader shift of the global economy. Countries are weaponizing economic power through sanctions, tariffs, and export controls — tools that were designed before the complex geopolitical competition we see today.

So how did we get here? What does this new age of economic warfare mean for global stability and the global economy? And how might these tools reshape everything from energy markets to global banking systems in the years ahead?

This week, we're revisiting a conversation Jason Bordoff had with Eddie Fishman about his book "Chokepoints: American Power in the Age of Economic Warfare," which came out in February. The book traces the evolution of economic warfare from the "War on Terror" to today's great power competition.

Eddie is a senior research scholar at the Center on Global Energy Policy and an adjunct professor at Columbia University SIPA. He also serves as an adjunct senior fellow at the Center for a New American Security and a nonresident senior fellow at the Atlantic Council.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Additional support from Martina Chow and Richard Nephew. This episode was engineered by Sean Marquand and Gregory Vilfranc.

Note: This episode is a re-run. It was originally published on February 11, 2025.

Countries around the world, including the US, are rushing to secure critical mineral supply chains. As these essential resources, which are key to building clean energy infrastructure, become a major focus in policy and trade discussions, Latin America sits at the center of the competition. It is home to vast lithium reserves in the Lithium Triangle and it holds nearly 40% of the world's copper deposits.

But recent price volatility and geopolitical concerns have created new challenges. Early this month, President Trump announced a 50% tariff on copper imports, further jolting markets as copper prices jumped over 13% in a single day.

So how are countries in the region navigating these new trade and market realities? Can Latin America build mineral supply chains that are more resilient to geopolitical shocks? And how are these governments responding to the environmental and economic concerns of Indigenous and local communities?

This week, Jason speaks with Juan Carlos Jobet, Tom Moerenhout, and Diego Rivera Rivota about Latin America's critical mineral supply chain.

Juan Carlos is the dean of the School of Business and Economics at Adolfo Ibáñez University and Chile's former Minister of Energy and Mining and a former distinguished visiting fellow at the Center on Global Energy Policy.

Tom leads the Critical Materials Initiative at the Center on Global Energy Policy and is a professor at Columbia University's School of International and Public Affairs.

Diego is a senior research associate at the Center on Global Energy Policy.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Many parts of the US have experienced brutal, deadly heat in recent weeks—and there's plenty of summer left. Intense rainfall, made more likely by warming, dropped more than 15 inches of rain in central Texas, claiming more than 130 lives. In addition to the devastating human toll these weather events take, they expose critical vulnerabilities in our energy infrastructure.

Power grids are seeing tremendous demand from air conditioning, not to mention other factors including data centers. And of course, extreme weather events cause shocks that go well beyond power outages; they damage transmission lines and cascade across other critical infrastructure like water systems and healthcare facilities.

The question isn't whether climate change is reshaping energy security—it's how quickly we can adapt. As traditional definitions of national security expand to include climate threats, what will it take to build truly resilient energy systems.

This week, Bill Loveless speaks with Kate Guy about how extreme summer weather events are redefining energy security.

Kate is a senior fellow and managing director of the geopolitics of climate change and the energy transition at the Center on Global Energy Policy at Columbia SIPA.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

Artificial intelligence is transforming our world — and the energy sector. Earlier this year, the International Energy Agency (IEA) released a comprehensive report examining both AI's projected energy demands and how it might reshape energy systems. But while headlines often raise alarms around electricity demand growth, the reality is more nuanced and complex.

While data centers currently account for just 1.5% of global electricity use, that share is expected to double by 2030, driven largely by the growth of AI. In some regions, particularly in the US, data centers could account for nearly half of all electricity demand growth in the coming years.

So how should we understand the relationship between AI and energy? What does this mean for power systems around the world? Is artificial intelligence a friend or foe to the clean energy transition?

This week, Jason Bordoff speaks with Laura Cozzi, about the IEA's findings on AI's energy demands.

Laura is the chief energy modeler at the International Energy Agency, and its director of sustainability, technology, and outlooks. She oversees the IEA's analytical work on energy, climate, and economic modeling, and led the team that produced the agency's report on artificial intelligence and energy.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

The global energy landscape is shifting right now. Geopolitical tensions in the Middle East, debates about peak oil demand, and waning support for climate action in some parts of the world are challenging long-held assumptions about the pace and scale of the energy transition.

Confronting these complex challenges requires an understanding of the forces that drive energy markets and prices.

So where is global energy consumption headed? Are reports of oil's demise exaggerated? And as countries prioritize energy security and economic growth, what does "pragmatism" really mean for the energy transition?

This week, Jason Bordoff speaks with Arjun Murti about the state of global energy markets and of the energy transition.

Arjun is a partner with Veriten, an energy research and investment firm. He also publishes the Super-Spiked newsletter. Previously, Arjun served as co-director of Americas equity research for Goldman Sachs. Prior to that, he was a buy-side equity research analyst at J.P. Morgan Investment Management. He also serves on the Center on Global Energy Policy advisory board.

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.

Just two days after President Trump deployed America's military to attack Iranian nuclear development sites, a shaky ceasefire between Israel and Iran brokered by President Trump emerged. So far, this deal appears to be holding, but there's no formal ceasefire agreement in place—at least not yet.

It is clear that Iran's nuclear infrastructure has suffered significant damage, but it's not clear just how extensive that damage really is. That uncertainty leaves a lot of unanswered questions about where things go from here.

Will there be a formal ceasefire in the coming days? How did energy markets react to the rapid de-escalation? And is this conflict really over?

To help unpack the latest, leading experts at the Center on Global Energy Policy, Columbia University SIPA joined Jason Bordoff for a special rapid response episode to discuss what we know so far about the ceasefire between Israel and Iran, how oil markets reacted, and the status of American sanctions on Iran.

Richard Nephew is a senior research scholar at CGEP. 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 CGEP and a senior fellow at the Middle East Institute, where she focuses on the political economy of the Gulf states and energy policy.

Daniel Sternoff is a non-resident fellow at CGEP. He is also the head of Energy Aspects' Executive Briefing Service.

Richard, Karen and Daniel joined Jason on the afternoon of June 25 to discuss the current state of Iran's nuclear program, the broader geopolitical and economic implications of this unfolding crisis, and where it all goes from here.

Credits: Hosted by Jason Bordoff and Bill Loveless. Produced by Mary Catherine O'Connor, Caroline Pitman, and Kyu Lee. Engineering by Gregory Vilfranc.

California has long led the nation in pioneering clean air regulations, from grappling with smog to setting ambitious zero-emission vehicle mandates. The Golden State's unique authority under the Clean Air Act has allowed it to set emissions standards that exceed federal requirements. Around a dozen other states have followed California's lead.

But that leadership now faces an unprecedented challenge. Last month, Congress voted to revoke three Clean Air Act waivers that the Biden administration had granted California. It was the first time in over sixty years that federal lawmakers blocked any of California's dozens of car and truck rules, and the state quickly responded with a lawsuit.

So what happens next? Can California slash emissions from the transportation sector without this federal support? If not, how can it reach its overall climate goals? And what does this political battle mean for the future of clean transportation—and states' abilities to regulate emissions—nationwide?

This week, Bill Loveless speaks with Mary Nichols about California's role in clean air policy, the impact of losing its vehicle emission waivers, how the auto industry is reacting, and what all of this means for the future of climate action in America.

Mary is a distinguished environmental lawyer and policy expert with over five decades of experience in clean air regulation. She held a number of senior posts in federal and state government, including a long tenure as chair of the California Air Resources Board. She is also a former distinguished visiting fellow at the Center on Global Energy Policy, Columbia SIPA.

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.

In the growing conflict between Israel and Iran, many questions now loom, including the extent of US involvement, the potential for regime change, and the status of Iran's nuclear program. All this uncertainty and speculation is having some impact on energy markets and potentially much more in the weeks to come.

While there have been some attacks on energy infrastructure, there has not been a significant disruption in oil or gas supply to the global market. Some energy traders are seemingly anticipating that the conflict will remain contained in the months to come, but this is far from certain.

How is the conflict evolving? What are the paths for a ceasefire or diplomatic resolution to end the conflict? How is all of this impacting energy markets?

In response to the events on June 12, we pulled in Daniel Sternoff and Richard Nephew, two leading experts at the Center on Global Energy Policy at Columbia University SIPA to discuss what we know about Israel's attack on Iran, the backdrop of a volatile energy market, and what could happen in the coming days and weeks.

Daniel is non-resident fellow at CGEP. He is also the Head of Energy Aspects' Executive Briefing Service.

Richard is a senior research scholar at CGEP. 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 deal.

Daniel and Richard joined Jason Bordoff on the afternoon of June 18 to unpack the escalating conflict in the region. They discussed the current state of Iran's nuclear program, the scenarios for conflict escalating in the Middle East and how oil prices fit into and might be affected by all of this.

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 this show.

Climate imperatives, national security, and the need for reliable, carbon-free, dispatchable power to meet rising electricity demand are all contributing to a resurgence in nuclear energy. The United States is taking a leading role in this industry's growth. Tech companies are signing major deals for nuclear energy to meet their growing energy needs. And President Trump recently signed four executive orders aimed at dramatically increasing nuclear power generation — an issue with rare bipartisan support.

But significant challenges remain. Cost overruns and delays, as seen with the troubled Vogtle project in Georgia, are hampering power plant construction in the US. Meanwhile, China and Russia are dominating global nuclear construction and fuel, raising questions about American competitiveness and national security.

So can the United States become a leader in nuclear energy deployment, without sacrificing safety? What role will new technologies and policy play in changing the trajectory? And what part should the US government play in financing, regulating, and promoting nuclear energy both domestically and internationally?

This week, Jason Bordoff speaks with Ashley Finan and Matt Bowen about the drivers behind this nuclear resurgence and why, as they argue in a recent Foreign Policy article, it is vital to meet rising electricity demand.

Ashley recently joined the Center on Global Energy Policy as a global fellow after serving in senior leadership roles at Idaho National Laboratory, where she worked on nuclear energy and national security issues. Matt is a senior research scholar at the Center on Global Energy Policy, where he focuses on nuclear energy policy, economics, and regulation.

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.

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.

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.

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.

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.

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.

For years, Japan set aggressive decarbonization targets, positioning itself as a climate leader despite limited domestic resources. But recent geopolitical earthquakes like the ongoing war in Ukraine, increasing energy demand, and a near-blackout in Tokyo have forced Japan to reassess its priorities.

Japan's new strategic energy plan, approved by the nation's government in February, represents this shifting calculus. While maintaining long-term carbon neutrality goals, it elevates energy security concerns. And it introduces a "Plan B" that acknowledges technological deployment might not match ambitious timelines.

So how can a resource-poor nation like Japan pursue both climate goals and energy security? What role will energy sources like LNG and nuclear power play in this new strategy? And as nations everywhere face similar pressures, does Japan's approach offer a model for pragmatic energy planning in an increasingly unstable world?

This week, Bill Loveless speaks with Tatsuya Terazawa about Japan's new strategic energy plan.

Tatsuya Terazawa is the chairman and CEO of Japan's Institute of Energy Economics, a think tank that provides analyses and policy recommendations based on Japan's goals of carbon neutrality and energy security. Before joining the Institute, he served as the senior advisor of Japan's cabinet office and held a number of roles at Japan's Ministry of Economy, Trade, and Industry.

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.

From oil pipelines crossing the border to integrated electricity grids, energy trade has long been a key part of the economic relationship between the United States and Canada. Now, President Trump's trade policies are upending longstanding cooperative norms on both sides of the border.

Last week's snap election has brought a significant change in Canada's leadership. Former central banker Mark Carney edged past Conservative Pierre Poilievre — a surprising win for the Liberal Party. This narrow margin of victory reflects a deeply divided electorate grappling with issues of economic security, climate policy, and Canada's place in a changing world. Carney has boldly declared the traditional U.S.-Canada relationship "over" and his victory signaled support for a more independent path.

So can Carney balance both clean and conventional energy development amid provincial tensions, particularly with oil-rich Alberta? How will Canada respond to Trump's proposed tariffs when nearly all of its crude oil exports flow to the United States? And will Carney use his experience as a champion of climate finance to help Canada achieve its goal of net-zero emissions by 2050?

This week, Bill Loveless speaks with Andrew Leach about the climate and energy policy battles Carney faces within Canada, a place Carney is eager to turn into an energy superpower.

Andrew Leach is an energy and environmental economist. He is a professor at the University of Alberta, with a joint appointment in the department of economics and the faculty of law. His research spans energy and economics, but he is particularly interested in climate change policies and law. His 2023 book, "Between Doom & Denial: Facing Facts about Climate Change," explores the challenges Canadians face as they confront climate change.

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.

After more than three years of intense fighting following Russia's invasion of Ukraine in February 2022, the path to end the war has been challenging. President Trump has been aggressively pushing both Ukraine's President Volodymyr Zelenskyy and Russian President Vladimir Putin toward a peace deal as part of Trump's campaign promise to quickly end the war. Meanwhile, energy has emerged as a critical factor, functioning both as a weapon and target in this war.

The peace deal Trump envisions would reportedly include U.S. control of the Ukrainian electrical supply and its nuclear power plants. And separately, the Trump administration has been working on a mineral deal with Ukraine for months. But developing any of those resources would take time because Ukraine's energy infrastructure has been severely crippled by war. In parts of Ukraine blackouts have become the norm.

So what are the potential paths for peace ahead for Ukraine and how might sharing its mineral or energy resources with the U.S. play into those options? How has Ukraine's energy infrastructure fared during the war? And what energy security lessons can other countries learn from this conflict?

This week, Jason Bordoff talks with Kyiv-based climate and energy reporter Tim McDonnell about the role that energy has played in the war in Ukraine and how it could factor into its resolution.

Tim is the climate and energy editor for Semafor, where he writes the Net Zero newsletter, and is also a reporter for Quartz. He has covered the business and science of climate change for more than 10 years and has written for The New York Times, The Washington Post and The Economist, among other publications. Tim lives in and reports from Kyiv and is writing a book about the role of energy in the Ukraine conflict. He joined the podcast to talk about the role energy plays in this conflict.

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.

As President Biden's national security advisor, Jake Sullivan laid out a strategy for what he called a "foreign policy for the middle class." Using the metaphor of a small yard and a high fence, the Biden administration's approach focused on reshoring critical industries and manufacturing, supporting innovation, and protecting strategic technologies.

The strategy relied on industrial policy, tariffs, and sanctions — some of the same economic tools the Trump administration is now using to launch a global trade war. The broad shift on both sides of the aisle to focus on national security, economic security, and supply chain resilience has enormous implications for the clean energy transition, from critical minerals and solar panels to batteries and EVs.

So how should we think about the relationship between economic resilience, energy security, and climate action? What lessons can we draw from the Biden administration's approach to countering China? And looking ahead, what should the U.S. prioritize when it comes to energy security?

This week's episode features a fireside chat between Jason Bordoff and Jake Sullivan from the Columbia Global Energy Summit 2025, which was hosted by the Center on Global Energy Policy, at Columbia University SIPA earlier this month.

Jake Sullivan recently became the Kissinger professor of the practice of statecraft and world order at the Harvard Kennedy School. He served as President Biden's national security advisor from 2021 to 2025. In the Obama administration, he was then Vice President Biden's national security advisor and deputy chief of staff to Secretary of State Hillary Clinton.

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.