World Energy Congress, 2013

James Stodder, (Economics PhD., Yale 1990)Lally School of Management

Rensselaer Polytechnic Institute at Hartford

Founded in 1924. Congress every 3 years, different

continents. > 3,000 organizations from 90 countries. Oil & Gas Companies (Shell), Utilities

(Duke), Generation and Transmission Companies (Alstom Power).

Viewpoint of BIG OIL

Khalid Al-Falih, President & CEO, Saudi Aramco

Time to ‘end subsidies to

renewables.’

‘Equal Rights’ for all energy

sources.

Speaking of Subsidies: Global fossil fuel subsidies: $523 billion,

renewable energy subsidies: $88 billion, 2011.

- Fatih Birol, Chief Economist, International Energy Agency

http://www.ewea.org/news/detail////eu-wind-industry-faces-tough-challenge-and-politicians-should-not-make-it-worse

/

CEO RosNeft, Igor Sechin

Russia offers not just ‘Energy Security,’ but also:

• ‘Political Stability’• ‘Transparency’

Decline of Trade ‘Stealth’ Protectionism*

• Compare to the ‘De-Globalization’ of WWI to WWII Period.

• * Simon Evenett, Global Trade Alert:

• 1,500 new trade restrictions among G20 countries since 2008.

“Trade: Into uncharted waters, “Shawn Donnan, Financial Times, Oct. 24, 2013

Other Voices: Swiss RE 2nd Largest Reinsurance Co., $35 Billion Mkt. Cap

Agostino Galvagni, CEO, Corporate Solutions: Global Warming is real. It is almost certainly ‘anthropogenic.’ Weather-related Disasters are becoming

more common and more severe.

Other Voices:

Gwen Andrews, Giles Dickson: VPs Environment Policy for Australasia, World, respectively.

Andrews: Alstom “agnostic” on energy sources, but Committed to Sustainability

Dickson: IGPCC report ‘much worse’ than most people recognize.

Other Voices:

Philippe Joubert, Chair GEI (Duke, CLP Group) “100 %” of large utility companies project

C02 price between $40 and $100 per ton But now, we’re “leaving the bill to our

children.”

Other Interesting Themes ‘Distributed Generation’ and ‘Micro Grids’ to cope with

Variability of Renewables

Fossil Fuels as Supplement to Renewables (inversion of traditional perspective)

CT has ‘first in nation’ statewide project to promote Micro-Grids (subsidies of $19 m. to date, $20 m. more scheduled)*

* http://www.greenbiz.com/news/2013/08/09/connecticut-plans-nations-first-statewide-microgrid

http://www.energybiz.com/magazine/issue/325105/energybiz-magazine-septemberoctober-2013