When Iran closed the Strait of Hormuz earlier this year, experts projected oil prices would go to $200 a barrel. But then… they didn’t. In fact, while gasoline prices rose in the United States, and Europe and Asia suffered higher costs, the resulting energy crisis wasn’t even as bad as what followed Russia’s 2022 invasion of Ukraine.

Why? China. The country seems to have absorbed the costs of Trump’s war of choice by releasing hundreds of millions of barrels from its strategic stockpile. On this episode of Shift Key, Rob is joined by Rory Johnston, an oil markets researcher and the author of the Commodity Context newsletter. They discuss China’s massive (and quiet) intervention, why it’s “the most important thing we learned” from the Iran War, and what it means for the future of energy and geopolitics.

Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap News.

You can find a full transcript of the episode here.

Mentioned:

China Oil Demand Doubts, Rory’s 2023 article about Chinese strategic stockbuilding

Previously on Shift Key: Why the Iran Ceasefire Hasn’t Ended the Energy Crisis, featuring Rory

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This episode of Shift Key is sponsored by ...

Heatmap Pro brings all of our research, reporting, and insights down to the local level. The software platform tracks all local opposition to clean energy and data centers, forecasts community sentiment, and guides data-driven engagement campaigns. Book a demo today to see the premier intelligence platform for project permitting and community engagement.

Music for Shift Key is by Adam Kromelow.

Hosted on Acast. See acast.com/privacy for more information.

One of the most interesting projects in carbon removal is doubling down on the industry. Frontier — a coalition of tech, finance, and fashion firms that buy carbon removal credits to support the crucial technology — has secured another $915 million to power its next round of buying. The artificial intelligence giant Anthropic has also joined the coalition alongside its existing members, including Stripe, Google, JPMorganChase, and others.

On this episode of Shift Key, Rob is joined by Hannah Bebbington Valori, who leads Frontier. They discuss the health of the carbon removal industry after a tough few years, how Frontier is changing its buying strategy for its newest round, and why Anthropic entered the coalition.

Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap News.

You can find a full transcript of the episode here.

Mentioned:

AI IPOs Could Create a Wave of New Funding for Climate Tech

Rob’s most recent story on carbon removal: Carbon Removal After Microsoft

Rob’s original story about Frontier: We’ve Never Seen a Carbon-Removal Plan Like This Before

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This episode of Shift Key is sponsored by ...

Heatmap Pro brings all of our research, reporting, and insights down to the local level. The software platform tracks all local opposition to clean energy and data centers, forecasts community sentiment, and guides data-driven engagement campaigns. Book a demo today to see the premier intelligence platform for project permitting and community engagement.

Music for Shift Key is by Adam Kromelow.

Hosted on Acast. See acast.com/privacy for more information.

Last year, progressives pulled off their biggest state-level win in Georgia in 20 years when voters elected two Democrats to the state’s Public Service Commission, which oversees electricity utilities. It was the first time Democrats had won a state-level office in Georgia since 2006. This year, Democrats have a chance to take an outright majority on the board.

What would that mean — and what has life been like for the state’s newest power regulators? On this episode of Shift Key, Rob is joined by Peter Hubbard, a former renewables developer who won a spot on the Georgia Public Service Commission last year and will defend it this November. They discuss what a regulator’s day-to-day is like, how Georgia is dealing with the data center boom, and whether regulators can ever bring powerful utilities to heel.

Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap News.

You can find a full transcript of the episode here.

Mentioned:

Previously in Heatmap: Democrats Win 2 Key Energy Races in Georgia

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This episode of Shift Key is sponsored by ...

Heatmap Pro brings all of our research, reporting, and insights down to the local level. The software platform tracks all local opposition to clean energy and data centers, forecasts community sentiment, and guides data-driven engagement campaigns. Book a demo today to see the premier intelligence platform for project permitting and community engagement.

Music for Shift Key is by Adam Kromelow.

Hosted on Acast. See acast.com/privacy for more information.