Unlocking Carbon Markets with Deanna Reitman, Eric Rubenstein & Lance Titus

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AI, Coding and Changing Skill-Sets in Commodities with Daf Davies: The skillsets required to be in a commodity trading team have always been evolving. However, that evolution is accelerating in the wake of new technologies and especially AI. In this episode we trace the changing roles and skills traders have needed over the last century and what the future holds as AI becomes ever more involved in the day to day activities of a trading desk. What are the skillsets of the past and their future? Are they fundamentally different? How is AI already affecting teams? And how will AI shape the team structure, careers and opportunities within the sector? Our guest is Daf Davies, long time commodity trader, and founder and CEO of Deus AI – a consulting firm focused on preparing companies for the commodity trading future. by The HC Commodities Podcast

54 min listen

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Fusion Power with Jay Brister: Will nuclear fusion change the world and if so how far away is it? What is fusion power? What are the technological, regulatory and financial developments that are accelerating our path to it? What has changed that has meant private companies are now racing to develop it alongside governments? And what will it mean for fusion power to be deployed at scale. Our guest is Jay Brister, an independent investor and consultant with over 40 years experience in the nuclear sector who has focused on fusion over the last five years by The HC Commodities Podcast

39 min listen

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Power Metal with Vince Beiser: Award winning journalist and author, Vince Beiser, joins us again to talk about his new book; Power Metal: The Race for the Resources that will Shape the Future. The energy transition consumes immense amounts of critical metals and minerals. What are the trade-offs being made in mining and processing them? How and where is recycling of these metals ongoing? What are the human stories and impacts behind this enormous industry and what might the solutions be to make the transition more sustainable and achievable? Vince’s book is out and available in all good book stores and published by Penguin Random House. by The HC Commodities Podcast

48 min listen

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Forecasting the Weather with Matt Lanza: Weather is a key driver in energy markets – from trading in the day ahead markets to weather events that can disrupt operations for months on end. Accurate forecasting has always been an edge. New technologies are making some aspects of forecasting ever more accurate. At the same time, climate change is making extreme events more frequent and significant. What keeps a meteorologist up at night? Why do energy traders employ meteorologists? How is technology changing the profession? Our guest is Matt Lanza, who has over 20 year’s experience working on trading floors as a meteorologist . by The HC Commodities Podcast

43 min listen

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Changing EU Policy & Energy Trading with Bart Verest: In the wake of the energy crisis and the demands of the energy transition, the EU has enacted a series of regulations, and considering more, in the European energy markets. These will bring changes to how power, carbon and gas markets operate and some proposals under consideration could have profound effects. What are these changes? What is the impact on how markets operate and the opportunity for participants? And are we entering a period of re-regulation and intervention after the steady march of liberalization over the past 25 years? To discuss this and more is our guest Bart Verest, the Lead Partner at ENC Consultants, an international consultancy focused on energy procurement and markets with their headquarters in Belgium. Bart is an expert in energy markets and energy contracts. by The HC Commodities Podcast

40 min listen

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The Metals Markets in 2024 and Beyond with David Wilson: Metals have had an interesting year so far. Prices have been volatile along with sentiment and narratives. Trading Houses have been rapidly expanding metals trading teams and funds have piled in. In this episode, David Wilson, Senior Commodities Desk Strategist at BNP Paribas Markets 360, takes an in depth look at the reality behind these trends across copper, aluminum, nickel, gold and the battery metals in 2024 and what that may presage for 2025. by The HC Commodities Podcast

51 min listen

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The HC Commodities Podcast Live Event: Commodities Trade in Volatile Times: May you live in interesting times - as the proverb goes. Will those times continue? On October 16th, at the Yale Club in New York City, we held our latest Live Event hosted by ITFA with additional sponsorship from Brown Brothers Harriman, Goba Capital and HC Group. The commodities sector has seen unprecedented volatility. What has that meant for the sector’s ecosystem? How has it shaped the opportunities and risks? Is the volatility structural or ephemeral? A group of leaders from across the sector joined our panel to discuss in front of an audience of 150 industry participants. Rob Walsh, CEO of IMI, William Tully,Head of Business Development, BBH Commodities & Logistics, Sunil George, Head of Client Financing Solutions for the Americas at Louis Dreyfus Company, Todd Lynady, Regional Head of Financial Solutions @ WTW and Alexandre Lacreu Chief Underwriting Officer, Coface North America moderated by podcast by The HC Commodities Podcast

47 min listen

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COP29: Article 6 and Transforming the Carbon Markets with Nick Marshall: In mid -November, in Azerbaijan at COP29, momentous decisions could be made that would advance the carbon markets globally. What are they and what are the chances of that happening and what is the state of the carbon market today? Our guest is Nick Marshall, co -founder of TASC, a project developer focused on channeling funds into carbon reduction projects around the world. by The HC Commodities Podcast

48 min listen

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Protectionism with Alex Tuckett: Commodities sit at the heart of global trade and as such are at the center of the rise of protectionism. After a long period of globalization and ever freer trade, there is a perceptible and growing shift back to mercantilism and protectionism. This is driven by great-power competition with the energy transition being a key driver. Tariffs, sanctions and direct market intervention are ever more commonplace. To discuss this trend, its causes and its impact on our sector is Alex Tuckett, Head of Economics at CRU, the independent commodity analytics, consulting and pricing agency. by The HC Commodities Podcast

42 min listen

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How Batteries are Changing Power Markets with Casey Keller: Utility scale batteries are proliferating across Western power grids, particularly in the US. And far more are set to come. These batteries offer the ability to manage grids, especially with the influx of renewables, or make economic returns on trading around them. Yet, their very presence is changing the dynamics of power markets. What are these batteries, where are they placed and who owns them? How and who trades around them and what do they mean for the future of power markets? All this and more is answered by our guest Casey Keller, Head of Assets and Development at Caerus Commodities. by The HC Commodities Podcast

46 min listen

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Punishing Putin with Stephanie Baker: Russia’s full scale invasion of Ukraine in February 2022 triggered an avalanche of economics sanctions by the West. What followed was an undeniably world-changing financial experiment that risked throwing the world into a devastating recession, testing the very limits of economic warfare and Western cohesion. Commodities sit at the heart of this story with profound ramifications for the global sector. But is it succeeding? Our guest is Russia expert and veteran Bloomberg investigative journalist Stephanie Baker who’s new book - Punishing Putin: Inside the Global Economic War to Bring Down Russia - explains in fascinating detail how this furious shadow-war unfolded: its causes, how it is being executed, and its ability to affect Russia and the course of history. by The HC Commodities Podcast

47 min listen

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US Natural Gas Trading in a Global Market: Live Event hosted by Six One Commodities: Over the next two years, the US is set to export some 12bcf/d extra of LNG. What does this mean for the US market? Where will it go? And can supply keep up? Will there be sufficient demand in Europe? And what does this mean for traders - is a global footprint now a must? Are the gas markets entering a new truly globalized era where US supply sets the price? All that and more is discussed in this special live event recording of The HC Commodities Podcast held on September 19th in Houston. The event was hosted by Six One Commodities and co-sponsored by Bridge Alternatives and Phillips66. Our panelists were Harrison DeStefano, CCO of Six One Commodities, Nathan Arentz, MD, Skylar Capital Management, Anne-Sophie Corbeau, Global Research Scholar at the Center on Global Energy Policy and Graham Fisher, Head of Natural Gas Trading at P66. by The HC Commodities Podcast

49 min listen

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Shale 4.0 with Matthew Bernstein: Shale Oil & Gas has turned the US into an energy power house over the last 15 years. Will it disappear as quickly as it arrived or will it set to US apart for years to come? Within its short life, it has evolved quickly and our guest Matthew Bernstein now characterizes it as Shale 4.0. What were the previous iterations in participants, economics and output and what does the future hold? Matthew Berntstein is the Manager of Shale Analytics at Rystad Energy, the independent energy data and analytics firm. by The HC Commodities Podcast

49 min listen

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Coffee with Charlie Stephens: A commodity close to many of our hearts, but how does it end up in our mugs? Where is it grown, how is it processed and who trades it? How do the derivative contracts work and what might the future hold as climate, geopolitics and consumer tastes evolve? Our guest is Charlie Stephens, President of Amarella Café, an independent specialty coffee trader in the Americas. Still in his twenties, Charlie also shares his story on how he launched his own trading company. by The HC Commodities Podcast

49 min listen

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Strategy and AI with Dr. Seth Dobrin: Is the commodities world lagging behind in AI adoption? And if so, how should the sector’s leadership think about applications and use? What even is it and how is it being used by other sectors? Our guest is Seth Dobrin, CEO of QuantmA1, an AI consultancy and General Partner at 1Infinity Ventures, a VC fund. Seth was former Global Chief AI Officer at IBM and Head of Digital Strategies at Monsanto. by The HC Commodities Podcast

50 min listen

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Where are Oil Prices Headed? With Aldo Spanjer: As we head toward the end of the year and into 2025 where are oil prices headed? In this episode we recap the major events and decisions since COVID and the key drivers of oil prices. Then we turn to the outlook for the next two years. What is the supply and demand picture? What could OPEC’s upcoming decision mean – could a new price war start? And what are the potential disrupters in a more volatile geopolitical landscape. Returning to the show is Aldo Spanjer, Senior Commodity Strategist at BNP Paribas. by The HC Commodities Podcast

45 min listen

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The Brazilian Power Market with Adriana Waltrick: The Brazilian Power Market with Adriana Waltrick Brazil has been steadily deregulating its power market over the last two decades. This combined with one of the largest share of renewables in the generation mix of any advanced economy, alongside hydrocarbon production in the ‘Pe-salt’ off the coast, has made it a hugely dynamic market with lots of opportunity for participants, both domestic and international. What is Brazil’s generation mix and power market structure? How volatile is the market and why? What pressures do participants face? How liberalization survived multiple political changes and what might the future hold? Our guest is Adriana Waltrick, CEO of SPIC, the fifth largest power generation company in the country. by The HC Commodities Podcast

37 min listen

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Regime Change in European Power and Gas Markets: Are we seeing a regime change in European gas and power markets? Is Europe now entering a period of structurally lower energy prices and economic advantage as its decades long investment in renewables starts to pay off? Will other countries have to go through this journey? What does this mean for power trading opportunities? As we approach winter, is the European Energy Crisis in the rearview mirror? What of natural gas? Huge amounts of LNG are forecasted to arrive on European shores in the coming years. What will this mean for Europe’s gas markets and what’s the impact on the US, the main exporter, as well as other parties along the gas value chain? Our guests are Senior Commodities Strategists, Aldo Spanjer and James Huckstepp from BNP Paribas. by The HC Commodities Podcast

53 min listen

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SUMMER REPEAT The Hidden Demographic Problem for Commodities with Todd Thurman: For a short summer break, we are republishing an earlier episode that has been catching real attention in the news this summer - that of Demographic Decline. The UN predicts global population will peak sometime in 2080s above 10billion people. Companies, countries (think global social security schemes) and the commodities sector predicates forecasts on these assumptions. Yet, there is a growing body of evidence that these assumptions are far too optimistic and that not only will global population peak earlier but will subsequently decline much more rapidly. Already much of the West and Asia is in decline and replacement rates of falling at an accelerated pace. Is this a long-range risk no board rooms are talking about? Our guest is analyst, futurist and swine consultant Todd Thurman who has become a global authority on the subject on how it will impact the commodities world. We also have an upcoming HC by The HC Commodities Podcast

47 min listen

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Compliance & Enforcement in the Commodities Sector with Gerben Schreurs and Barry Vitou: Global regulators are narrowing their focus on the commodities sector and billions of dollars have been paid in fines. The world has become both more transparent and more risky in the wake of deglobalization, sanctions and the energy transition bringing its increased public scrutiny. The risks are enormous both the companies and individuals. And as such, compliance is an ever more important topic. To discuss compliance, enforcement and best practice is Gerben Schreurs, Partner at the Forensic Risk Alliance, or FRA, an independent forensics firm that conducts investigations, monitorships and compliance reviews, as well as Barry Vitou, Partner at HFW, the global law firm, where he is Head of Investigations, White Collar and Compliance. As always, you can really support the show by leaving us a positive review on the platform you're listening on. by The HC Commodities Podcast

67 min listen

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Commodity Professionals: The people behind the trade with Jonathan Kingsman: To celebrate the upcoming release of his new book, Jonathan Kingsman, author, blogger and agri trade expert, returns to the show. Jonathan’s new book - Commodity Professionals: The people behind the trade – is a collection of interviews spanning all the professions that create the commodity supply chains. How have these roles evolved in a more volatile world? How are the trading houses fairing since we last caught up with Jonathan? by The HC Commodities Podcast

45 min listen

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The Complexity in the Energy Transition with Marco Raugei: The energy transition is complex. That complexity tends to be papered over with simplifications and beliefs, even myths, both within the sector and the broader public on both sides of the debate. Yet, to make the right investments and decisions as companies and societies, it requires careful analysis and ultimately managing the inherent trade-offs. In this episode, we zoom in on the reality of the energy transition, the science required and the competing philosophies. Our guest is Marco Raugei, Senior Lecturer and Researcher at Oxford Brooks University. He is an Environmental Scientist with a PhD in Chemical Sciences and lectures on energy systems and Life Cycle Assessments. Marco has spent his career researching the very energy systems, particularly in transportation, that drive our economies today and in those of the future. by The HC Commodities Podcast

57 min listen

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The Super Charged Capex Cycle with Jeff Currie: Is the commodity super cycle, long heralded, a mirage? Or, super charged by a capex cycle, are we just at the start? What is the state of the commodity investment cycle? Why and how has geopolitics and dollar weaponization changed the landscape? If there is a global run up in prices will energy keep pace with metals? What does all this mean for the trading sector and investors? Returning to the HC Commodities Podcast to give his analysis of the commodities markets over the last year, and what the outlook is, is Jeff Currie, now Chief Strategy Officer of Energy Pathways at The Carlyle Group. He is the former Global Head of Commodities Research in the Global Investment Research Division at Goldman Sachs. by The HC Commodities Podcast

47 min listen

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Data Centers: engines of change in power markets with Eugene McGrane: Data is the new the economic engine of the world. Globally, data centers are proliferating bringing their huge demand for energy – especially clean energy delivered reliably. Markets, policy and regulation are still adapting, often too slowly, to the changing energy mix and decarbonization demand. Could data centers be the engines of change to bring our power grids into a renewable ready world? Could this be the energy management opportunity of the decade for power traders? Our guest, Eugene McGrane argues just this. Eugene is an Executive Managing Director at Cushman Wakefield, supporting their power clients across all real estate categories. by The HC Commodities Podcast

43 min listen

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Commodities in Portfolio Construction with Hussein Allidina: In this episode we explore commodities’ role in asset management and portfolio construction? Why should asset managers and investors seek exposure to commodities within their portfolios? What are their historical long-term performance as part of a broader mix of equities and debt? Indeed, are institutional investors currently underweighted, especially as we enter a period of higher inflation and industrial restructuring? Our guest argues they are and outlines why: Hussein Allidina is Managing Director and head of commodities at Toronto Dominion Asset Management. by The HC Commodities Podcast

38 min listen

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Hedging with Samuel Basi: Hedging is the basic tool of the commodity trader. Yet, outside that community it is little taught, little understood and underutilized – especially as raw material prices are becoming more volatile in an age of disruption. What is hedging? What are the costs and benefits and why is it not more exploited up and down the value chain. Our guest is Samuel Basi, author of the new book “Perfectly Hedged. A Practical Guide to Base Metals”. Samuel is the founder and CEO of Perfectly Hedged LLC a training consultancy for the sector and a former metals trader at both Trafigura and Greenwich Metals. by The HC Commodities Podcast

34 min listen

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Geographic Arbitrage with Michael Ferrari: In commodities, the lowest cost producer or shipper is king. This in turn drives siting assets, determined by human factors such as cost, legal and tax regimes and geographic factors like proximity to rivers, coasts, production and markets. However, today the world is becoming more volatile both in weather events and in policy. And in fact locations a few miles apart can have very different risk profiles – with those choosing wisely outstripping competitors as crucial times of disruption. And those risks are now being mapped down to the precise GPS coordinates. Our guest is someone who is leading the charge. Michael Ferrari is Chief Scientific Officer & Chief Investment Officer at AlphaGeo - AI-powered geospatial predictive location analytics platform that enables clients to assess location risks in the commodities sector and beyond by The HC Commodities Podcast

40 min listen

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The Unstoppable, Exponential Energy Transition with Kingsmill Bond: In this episode, our guest argues that not only is the energy transition happening, it’s happening faster and more profoundly that you can imagine…and it’s being led by China. The ‘age of renewables’ will be very different than the ‘age of carbon’ and the same forecasting assumptions do not apply. The energy transition is being driven by technology, economics, geo-strategy and, of-course, necessity. And the data proves it. Our guest is Kingsmill Bond, Senior Principal at the Rocky Mountain Institute (RMI). by The HC Commodities Podcast

47 min listen

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Russian Sanctions with Sarah Hunt: In a deglobalizing and volatile world, sanctions can upend commodity markets overnight. Commodities underpin global trade and are often themselves direct targets of sanctions or swept up in restrictions imposed on trade infrastructure, such as finance and shipping. In this episode, we do a deep dive on the suite of Russian sanctions imposed since the invasion of Ukraine. How do sanctions work? How are they imposed and by whom? What are the specific Russia related sanctions and what are their consequences for the commodities sector? And how should companies prepare for and manage them? Our guest is Sarah Hunt, commodity trade and sanctions specialist lawyer at HFW. by The HC Commodities Podcast

52 min listen

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The Japanese Power Market with Xavier Veillard: In this episode, we are diving into the Japanese power market, which by virtue of its size, generation mix and recent liberalization, is fast becoming one of the most active power markets in the world, attracting a host of domestic and international energy merchants. What is the regulation that underpins the market? How does it function and who are the participants? Who is, and where do you get, the talent to build such a capability. Our guest is Xavier Veillard, Partner at Mckinsey, heading their global power and gas commodities offering. by The HC Commodities Podcast

39 min listen

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Unlocking Carbon Markets with Deanna Reitman, Eric Rubenstein & Lance Titus

Unlocking Carbon Markets with Deanna Reitman, Eric Rubenstein & Lance Titus

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