The Energy Forum

From Baker Briefing: Unpacking Venezuela’s Opaque Oil Deal

A recently announced deal between the U.S. and Venezuela to produce 65 billion barrels of oil – roughly a fifth of Venezuela’s total proven oil reserves – has raised questions about its terms. A single Latin American company, NABEP, run by Venezuelan executive Alejandro Betancourt, has been tapped to produce the oil, with part of the company being potentially owned by the U.S. Department of Defense. But it is unclear whether the oil fields covered by the contract can support the scale of production promised. And while the U.S. has an agreement to buy some of the oil produced at cost, do not expect prices at the pump to go down tomorrow. Francisco J. Monaldi, Wallace S. Wilson Fellow in Latin American Energy Policy and director of the Latin America Energy Program, joins Ambassador David M. Satterfield to discuss what is known – and what remains unclear – about the deal, as well as the promise of a Latin American energy boom to come. Featured: Francisco J. Monaldi, Ph.D: https://www.bakerinstitute.org/expert/francisco-j-monaldi. This conversation was recorded on Sept. 1, 2026. You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

34: Thinking Big With Small Reactors

Small modular reactors, or SMRs, are attracting growing interest as a potential source of reliable, lower-carbon electricity for industries, data centers, and countries that may not need, or be able to finance, a large conventional nuclear plant. Turning that potential into real-world projects, however, requires more than innovative reactor designs—it depends on financing, manufacturing, regulation, workforce training, and public confidence. A new agreement between the United States, South Korea, and Japan aims to strengthen cooperation on deploying SMRs internationally. The partnership could offer countries another option alongside emerging Chinese and Russian nuclear-export models. In this episode of “The Energy Forum,” Gabriel Collins and Henry Haggard discuss what it would take for SMRs to become a practical, competitive option for countries seeking reliable power and long-term energy security. Featured: Gabriel Collins, https://www.bakerinstitute.org/expert/gabriel-collins Henry Haggard, https://www.bakerinstitute.org/expert/henry-haggard This episode was recorded on Aug. 11, 2026. Follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

33: Why Oil Markets Bounced Back

Oil markets have experienced significant volatility across much of July, particularly after the dissolution of a ceasefire between Iran and the U.S., which temporarily reopened the Strait of Hormuz. The resumption of conflict — Iranian strikes on vessels transiting the strait, Houthi threats to vessels attempting to transit the Bab el-Mandeb Strait from the Red Sea, the reimposition of the U.S. blockade, and 13 consecutive days of U.S. strikes on Iran — saw oil prices climb over $100 per barrel, only to settle back again as tensions abated. In this episode of “The Energy Forum,” Abhi Rajendran and Skip York examine why the market seems increasingly able to absorb geopolitical shocks. Featured: Abhi Rajendran, https://www.bakerinstitute.org/expert/abhi-rajendran. Skip York, Ph.D., https://www.bakerinstitute.org/expert/harold-skip-york. You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

32: From Mechanical to Molecular: What ‘Advanced Recycling’ Actually Means

The Center for Energy Studies recently hosted its second annual sustainability summit, bringing together experts to examine sustainability challenges from a systems-level perspective. In this episode of “The Energy Forum,” Rachel A. Meidl is joined by two speakers from the summit: Marco Castaldi, professor at City College of New York and cochair of the Recycling Science Council, and Katherine Hofman, sustainability strategic initiatives manager at Eastman. Together, they unpack the growing confusion around plastics recycling, particularly the terminology and taxonomy surrounding advanced recycling. They discuss how mechanical recycling differs from advanced, molecule‑level processes; why oversimplified narratives about recycling can mislead policymakers and the public; and how clearer definitions can shape more informed regulations, investments, and waste‑reduction strategies. Featured: Dr. Marco Castaldi: http://ccny.cuny.edu/profiles/marco-castaldi. Dr. Katherine Hofman: greenseal.org/team/katherine-hofmann/. You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

31: How the Strait of Hormuz’s Closure Could Reshape the Oil Market

The closure of the Strait of Hormuz led to months of volatility in the oil market, but a new memorandum of understanding between the United States and Iran offered the first signs of a path toward stability. However, short-term risks for the oil market remain as a broader peace deal is discussed, and long-term questions are emerging as global suppliers and consumers seek to prevent a similar shock in the future. In this episode of “The Energy Forum,” Abhi Rajendran and Skip York explore what the market’s response reveals about the shifting foundations of global oil. Featured: Abhi Rajendran, https://www.bakerinstitute.org/expert/abhi-rajendran Skip York, Ph.D., https://www.bakerinstitute.org/expert/harold-skip-york Editor’s note: This episode was recorded on July 2, 2026, when the U.S.-Iran ceasefire was still in place, and oil prices were easing; since then, on July 8, President Donald Trump has declared the ceasefire “over,” and oil markets have repriced renewed geopolitical risk. You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

30: Beyond Recycling: The Global Systems Behind E-Waste

In this episode, Rachel A. Meidl is joined by Natalie Messer Betts, vice president of sustainability at the Recycled Materials Association (REMA), to discuss the growing challenge of discarded electronics — from phones and laptops to data center equipment and medical devices. They explore why the term “e-waste” can be misleading, how reuse and refurbishment can provide greater environmental benefits than recycling alone, and why only a small share of discarded electronics enters formal recovery systems. The conversation follows electronics across their full life cycle — from mining and critical minerals to trade, standards, and informal recycling — and examines how improved design, policy, measurement, and certified recycling practices can support more circular and globally connected supply chains. Featured guests: Natalie Messer Betts This conversation was recorded on June 5, 2026. Follow Rachel A. Meidl, LP.D., CHMM on X (@MeidlRachel) and LinkedIn. You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

From 'Baker Briefing': Why the Middle East Oil Shock Is Raising Gas Prices

As conflict and instability in the Middle East continue to shape global energy markets, Americans are beginning to feel the effects far beyond the gas pump. Host David M. Satterfield speaks with energy experts Kenneth B. Medlock III and Mark Finley about why oil prices react so sharply to geopolitical shocks. They discuss how those shifts ripple through airline fares, travel costs, inflation, and household budgets, and what could transpire in the months ahead as conflict in the Middle East continues. This conversation was recorded on May 13, 2026. Featured: Mark Finley Kenneth B. Medlock III Listen and subscribe to “Baker Briefing” on Apple, Spotify, or your preferred podcast platform. You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

From 'Baker Briefing': Inside Guyana’s Energy Strategy with President Mohamed Irfaan Ali

Guyana sits at the center of one of the fastest energy expansions in the world — at a moment when geopolitical tensions, supply disruptions, and market volatility are reshaping global energy systems in real time. But rapid growth brings difficult questions: What are the risks, tradeoffs, and strategies behind turning a historic resource boom into lasting national development? During a visit to Rice University’s Baker Institute for Public Policy on May 4, 2026, His Excellency Mohamed Irfaan Ali shared his perspective on the country’s rise as a global energy player. Since oil production began in 2019, Guyana has rapidly emerged as a major force in global energy markets — making its policy choices increasingly relevant far beyond its borders. This episode is the second part of this conversation. Building on his earlier remarks, Ali sits down with Francisco J. Monaldi for a candid armchair discussion on what comes next. Together, they explore the practical realities of execution — from managing hydrocarbon expansion and attracting investment to building the infrastructure needed to sustain long-term growth. This conversation was recorded in front of a live audience on May 4, 2026. Learn about future live recordings of the “Baker Briefing” podcast by subscribing to our “Events Digest” newsletter at https://www.bakerinstitute.org/newsletter. Listen and subscribe to “Baker Briefing” on Apple, Spotify, or your preferred podcast platform. You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

From 'Baker Briefing': President of Guyana Mohamed Irfaan Ali Explains the Nation’s Energy Boom

Guyana, on the northern coast of South America, has become one of the fastest-growing energy producers in the world. Since oil production began in 2019, the country has quickly emerged as a major force in global energy markets, at a time when geopolitical tensions and market volatility are reshaping the global energy landscape. During a visit to Rice University’s Baker Institute for Public Policy on May 4, 2026, His Excellency Mohamed Irfaan Ali shared his perspective on Guyana’s rise as a global energy player. Speaking before a live audience, Ali outlined his administration’s strategy for balancing rapid energy development with economic diversification while navigating an increasingly uncertain global environment and rising expectations around sustainability. This is the first of two episodes featuring remarks from that event. In this episode, Ali delivers prepared remarks outlining his broader vision for Guyana’s future — from energy and infrastructure to human capital and environmental stewardship. The second episode features an armchair discussion with Baker Institute Fellow Francisco J. Monaldi on the practical challenges of implementing that vision. This conversation was recorded in front of a live audience on May 4, 2026. Learn about future live recordings of the “Baker Briefing” podcast by subscribing to our “Events Digest” newsletter at https://www.bakerinstitute.org/newsletter. Listen and subscribe to “Baker Briefing” on Apple, Spotify, or your preferred podcast platform. You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

26: Live from CERAWeek: Latin America’s Growing Role in Global Oil Markets

Recorded live at CERAWeek in Houston, this episode of The Energy Forum features Kenneth B. Medlock III in conversation with Francisco J. Monaldi on the forces reshaping oil markets across Latin America. They examine Venezuela’s changing outlook after Maduro’s capture, the investment prospects ahead, and how countries like Brazil, Guyana, Argentina, and Bolivia are redefining the region’s role in global energy. This episode was recorded on March 25, 2026 on-site at CERAWeek.

25: Strait of Hormuz Disruption: What It Means for Oil Prices and Global Supply

Tensions in the Middle East are reshaping global energy markets, and the impacts are already being felt. In this episode of The Energy Forum, Abhi Rajendran, Skip York, and Kristian Coates Ulrichsen break down the latest developments around the Strait of Hormuz and what they mean for oil supply, global trade, and energy security. As supply chains tighten and demand rises heading into summer, this episode explains why global energy markets may face continued pressure and what to watch for next. This episode was recorded on April 1, 2026.

From 'Baker Briefing': Inside the Iran War’s Impact on Global Energy Markets

The conflict in Iran is sending shock waves through global energy markets, tightening supplies, driving up prices, and placing energy security at the center of strategic and economic considerations. On this episode of “Baker Briefing,” Ambassador David M. Satterfield, director of Rice University’s Baker Institute for Public Policy, and Kenneth B. Medlock III, director of the Baker Institute Center for Energy Studies, examine developments following U.S. and Israeli strikes that began on Feb. 28. They discuss potential impacts on energy flows, country responses, and what the evolving dynamics could mean for the global economy in the weeks and months ahead. This conversation was recorded in front of a live studio audience on March 27, 2026. Learn about future live recordings of the “Baker Briefing” podcast by subscribing to our “Events Digest” newsletter at https://www.bakerinstitute.org/newsletter. Listen and subscribe to “Baker Briefing” on Apple, Spotify, or your preferred podcast platform. You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

24: Global Oil Markets 2026: Iran Conflict, Venezuela Supply, and Rising Prices

In this episode of The Energy Forum, Abhi Rajendran and Skip York unpack the latest developments discussed at the Center for Energy Studies’ Oil Market Roundtable. The conversation examines how tensions involving Iran, evolving policy in Venezuela, and disruptions across global energy trade are influencing oil prices and market expectations. They also explore the emerging divide between sanctioned and unsanctioned oil barrels, the ripple effects on diesel and LNG markets, and whether U.S. shale producers will respond to higher prices. With geopolitical risk rising and supply uncertainty growing, the discussion highlights why some analysts now see $70 as the new floor for oil prices. This episode was recorded on March 5, 2026.

From 'Baker Briefing': What the U.S. Strikes on Iran Mean for Global Energy Markets

The United States has launched strikes on Iran — and global energy markets are already reacting. How far could this escalation reach, from the Strait of Hormuz to gasoline prices and electricity bills here at home? Ambassador David Satterfield, director of Rice University’s Baker Institute for Public Policy, is joined by Ken Medlock, director of the Center for Energy Studies, to unpack the energy implications of rising tensions in the Middle East. They explore how potential disruptions to shipping through the Strait of Hormuz could affect oil and liquefied natural gas flows, the difference between kinetic threats and commercial risk, and how insurers and transport markets respond in moments of geopolitical uncertainty. The conversation also examines the short- and long-term impacts on global energy trade — including consequences for Europe, China, South Asia, and Russia — before turning to what American consumers may feel most directly: price changes at the pump and shifts in electricity costs tied to natural gas. This conversation was recorded on March 3, 2026. Listen and subscribe on your favorite platform. Featured: Ken Medlock, Ph.D., https://www.bakerinstitute.org/expert/kenneth-b-medlock-iii You can follow @BakerInstitute on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

23: Saudi Arabia Scales Back Vision 2030 Megaprojects, Shifts Focus to AI and Energy

Nearly a decade into Vision 2030, Saudi Arabia’s diversification drive is entering a more constrained phase: some initiatives are moving ahead, while others are being resized, delayed, or quietly shelved. In this episode of ”The Energy Forum,“ host Jim Krane (Diana Tamari Sabbagh Fellow in Middle East Energy Studies) speaks with Karen Elliott House (journalist, author, and former managing editor at The Wall Street Journal) about what is changing inside the Kingdom, from the Public Investment Fund’s shifting priorities to the rise in women’s workforce participation, the AI push, regional security risks, and evolving relations with Iran. What does this shift mean for global energy markets and geopolitics? Subscribe and listen to “The Energy Forum” on Apple, Spotify, or your favorite podcast platform. This episode was recorded on Feb. 18, 2026.

22: Training Energy Leaders: Inside the CES Graduate Fellowship

In this episode of The Energy Forum, host Michael Maher sits down with former CES Graduate Student Luke Min, who now works at ExxonMobil and current doctoral fellow Stan Kannegieter to discuss what it’s like pursuing a PhD through Rice University’s Baker Institute Center for Energy Studies (CES). They explain how the program blends rigorous academic training with real-world application, and how working alongside policy researchers, industry experts, and global stakeholders builds not only technical expertise but also communication and credibility. The conversation explores career pathways beyond academia, how energy economists translate complex models into decisions companies trust, and why global perspective matters in modern energy systems. Since 2006, CES has supported 47 PhD students and 8 postdoctoral fellows, and this episode offers a firsthand look at how that training turns research into impact across industry, government, and policy.

21: AI-Driven Energy Growth and Its Impact on Water Resources

Artificial intelligence, data centers, and industrial growth are driving a new wave of electricity demand, while also placing growing pressure on water systems that underpin energy and infrastructure development. In this special cross-posted episode from "Talking Under Water," hosted by Bob Crossen of Endeavor Business Media, Gabriel Collins of the Center for Energy Studies at the Baker Institute examines how water availability and cost are increasingly shaping decisions across energy and industrial sectors. The conversation explores data centers, oil and gas operations, power generation, and advanced manufacturing, with a focus on trade-offs among efficiency, resilience, and scale. This episode appears on "The Energy Forum" feed as part of an ongoing partnership between the Center for Energy Studies and Endeavor Business Media, highlighting where energy and water challenges intersect — and why those connections matter for infrastructure planning and policy.

20: Oil Markets in 2026: Venezuela, Iran, and What Comes Next for Global Supply

Oil markets are entering 2026 with rising geopolitical risk and an uneasy global supply balance. In this episode of “The Energy Forum,” Abhi Rajendran and Skip York break down what recent political developments in Venezuela and Iran could mean for crude oil production, prices, and long-term investment decisions. This episode provides a timely look at where oil markets may be headed, what could tighten or loosen global balances, and why Venezuela could once again become strategically important for long-term supply portfolios. Featured: Abhi Rajendran, https://www.bakerinstitute.org/expert/abhi-rajendran Skip York, Ph.D., https://www.bakerinstitute.org/expert/harold-skip-york This conversation was recorded on Jan. 12, 2026. You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

19: Oil Market Outlook 2026: OPEC+, Geopolitics, and Price Risk

Oil markets are heading into 2026 with more uncertainty than prices suggest. In this episode of “The Energy Forum,” Abhi Rajendran and Skip York discuss why oil prices have remained resilient despite apparent oversupply. They examine OPEC+ supply discipline, non-OPEC production growth, China’s oil stockpiling, and what these forces mean for market balance. The conversation also explores geopolitics, sanctions, and tightening refining capacity, raising the risk that today’s soft crude prices could give way to higher fuel prices and a sharper rebound later this decade. This conversation was recorded on Dec. 12, 2025. Featured guests: Abhi Rajendran, https://www.bakerinstitute.org/expert/abhi-rajendran Skip York, Ph.D., https://www.bakerinstitute.org/expert/harold-skip-york You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.

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18: What Is the Future of Hydrogen as a Fuel?

In this episode of “The Energy Forum,” energy and transportation policy fellow Ed Emmett talks with Michael Graff, former chairman and CEO of American Air Liquide, about hydrogen’s past, present, and future. Together, they explore how this versatile fuel fits into today’s energy transition and what it will take to make it a truly global solution. This conversation was recorded on Oct. 29, 2025. Follow Ed Emmett on X (@EdEmmett) and LinkedIn. You can follow @BakerInstitute and @CES_Baker_Inst on X, Instagram, LinkedIn, and YouTube. Learn more about our data-driven, nonpartisan policy research and analysis at bakerinstitute.org.