Energy, Economy and Policy: A Glimpse at the 21 st Century

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Energy, Economy and Policy: A Glimpse at the 21 st Century"

Transcription

1 Gas Well Deliquification Workshop Denver, Colorado February, 2009 Energy, Economy and Policy: A Glimpse at the 21 st Century Scott W. Tinker Bureau of Economic Geology Jackson School of Geosciences The University of Texas at Austin

2 What a difference a year makes

3 Concepts I. Energy is the Engine of Modern Economies II. Energy Transitions take Time III. A Glimpse at 21 st Century Policy

4 Global Energy Use Energy Use (Quadrillion Btu) Asia & Oceania United States Europe Eurasia Central & South America Middle East Canada & Mexico 87% Fossil Fuels Coal Oil Gas Nuclear All Other Africa Quadrillion Btu 1 Quad ~ 1 Exajoule ~ 1 Tcf ~ 170 mmbo (~ 33 GWY) Data: EIA, October 2007

5 Energy-Economy Economy Cycles Global oil demand pulls on supply Weak dollar (interest rates, debt, war, trade deficit) Speculators hedge; buy oil to protect against weak dollar Weak dollar, tight D/S drive, and speculation drive the dollarbased price of oil up High price dampens energy demand Mortgage and credit crisis and global interdependent reactions slam global markets Demand dampening, excess production capacity, weak economy drive oil price down Oil production cut by OPEC Lower oil prices prop up economy Global oil demand pulls on supply

6 US Economy and Oil Price Oil Price $ of the day $ GDP Growth (% points at annual rates) Nixon Ford Carter Reagan Bush Clinton W Bush Oil Domestic Wellhead Price ($) Year 0 Data: EIA February 2007 and US department of Commerce

7 Energy Underpins Economies ~3 billion people After: Koonin, 2008

8 Concepts I. Energy is the Engine of Modern Economies II. Energy Transitions take Time III. A Glimpse at 21 st Century Policy

9 Tinker, 2008 Global Energy Consumption 100 Percentage of total market H/C<1 (Wood, Coal) H/C~2 (Oil) H/C>4 (Natural Gas, Nuclear, All others) U.S. Data: Annual Energy Review 1999 (EIA, 2000) World Data: International Energy Annual 1999 (EIA, 2000) Year QAc9841c

10 Global Energy Demand Source: National Petroleum Council, 2007

11 % Total Consumption Global Energy Consumption (quads) 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Historical Data: EIA October 2007 Coal Natural Gas Hydroelectric Demand Forecast 91% 87% 80% Fossil Fuels Tinker Forecast Petroleum Biomass, Geothermal, Solar & Wind 1.25% annual demand growth Nuclear ~255Q ~415Q ~495Q Fossil Fuels

12 Global Oil Reserves & Production Global Annual Production (mbo) 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000, , $ , $90.00 $ , $ $60.00 $ $ $30.00 $ $ $0.00 Global Oil Price Reserves ($2007) (bbo) R/P World Oil Production (Thousand Barrels) Oil Price Average in $/bbl Inflation Adjusted 2007 World Oil Reserves (Billion Barrels) Source: Energy Information Administration As of January 2008 ( ), OPEC (

13 Oil Forecast Global Energy Consumption (quads) Tinker Forecast Energy Consumption (mmbod) Source: National Petroleum NPC, Council,

14 U.S. Natural Gas Production U.S. Natural Annual Gas Natural Production Gas Production (Bcf) (TCF) ,000 20,000 15,000 10,000 5,000 Total Natural Gas Conventional Gas Difference Tight Gas Coalbed Methane Gas Shales Year Unconventionals Year Conventionals: EIA ( ) and NPC ( ) Unconventionals: data from GRI, Updated data from is from EIA, 2007

15 Global Energy Consumption (~TcF) ,560 TcF Resources: ~ 200 years at 150 TcF year Source: SPE Paper 68755, National Petroleum Council, 2007 Natural Gas Forecast Tinker Forecast Natural Gas (Tcf) Supply Demand Global Production Natural Gas Year Data: EIA, October 2007 R/P (yrs) 70 60

16 Coal Forecast Global Energy Consumption (quads) R/P Tinker Forecast Source: National Petroleum Council, 2007

17 Renewables Forecast Global Energy Consumption (quads) Tinker Forecast >40Q! Historical Data: EIA October 2007

18 Renewables Forecast ~5 MW Nameplate ~25% Efficiency Global Energy Consumption (quads) ~ 100 MW Nameplate ~ 25 MW Actual Tinker Forecast >40Q! Historical Data: EIA October 2007

19 Renewables Forecast We need > 40 Q Global Energy Consumption (quads) II. Energy Transitions Take Time (and engineering)

20 Concepts I. Energy is the Engine of Modern Economies II. Energy Transitions take Time III. A Glimpse at 21 st Century Policy

21 Energy Independence should not be confused with Energy Security Wise Policy will Focus on Energy Security

22 Energy End Use Electricity Hydro Uranium Transportation Imports Conventional Oil Coal U.S. Data Natural Gas Biomass Data: EIA 2007 Heat

23 Parameters for Energy Security Available Affordable Reliable Clean

24 Global Policy for Energy Security Increased Efficiency Diversify the global energy portfolio Improved energy Infrastructure Carbon Price that is transparent, economy-wide, global Strengthen global Energy Trade Dialog between Developed and Developing Nations Balance global Workforce Demographics Policy that engages Energy, Economy and Environment Build Global Bridges for Energy Security

25 Three Global Bridges Energy, Economy, Environment Developed and Developing Nations Industry, Government, Academe

26 Electricity s s Role 100 Electricity will play an ever greater role in the energy end use mix. 45Q Annual Use (Quads) 10 1 Total U. S. Energy Energy used to produce electricity After Huber and Mills, Data: EIA, Annual Review, US Census Bureau, Historical Statistics of the US Colonial Ties to 1970

27 Global Carbon Emissions Annual Anthropogenic CO2 (mmt) 12,000 10,000 8,000 6,000 4,000 2, NA Africa Cent & SA Asia & Oceania Europe ME Eurasia Data: EIA 2007

28 +$ BEG s Gulf Coast Carbon Center EOR Stacked Sinks -$ Sequestration

29 Cost of Carbon $20-$40 per tonne Mitigate and Adapt! Source: Koonin, 2008

30 Efficiency Electricity Options Fuel, lighting, electronics, insulation Challenge: Rebound effect Natural Gas Coal Abundant, reliable, price volatility, and cleaner Challenges: Global deliverability (LNG) and Access Abundant, reliable, cheap and dirty Challenge: Sequestration (IGCC w/ccs), financing, public perception Nuclear Abundant, reliable, moderate price and cleaner Challenges: Waste disposal, security, public perception Alternatives Cleaner, less reliable and more expensive Challenge: Capacity impacts cost and reliability

31 Efficiency Electricity Options Fuel, lighting, electronics, insulation Challenge: Rebound effect Natural Gas Abundant, reliable, price volatility, and cleaner Challenges: Global deliverability (LNG) and Access Coal Abundant, reliable, cheap and dirty Challenge: Sequestration (IGCC w/ccs), financing, public perception Nuclear Abundant, reliable, moderate price and cleaner Challenges: Waste disposal, security, public perception Alternatives A Grand Challenge Electricity Storage and Transmission Cleaner, less reliable and more expensive Challenge: Capacity impacts cost and reliability

32 Bridge Energy, Economy, Environment A healthy economy requires energy and provides capacity to invest in the environment Fossil fuels are the foundation of today s economy and the bridge to an alternate energy future Electricity demand is growing The cost to reduce carbon is high and everyone must participate, or it likely will not happen Alternate energies require time, money and technology to achieve commercial scale

33 Bridge Developed and Developing Nations For major economies, industrialization brings 21 st century technological understanding and social responsibilities Developed and developing nations are interdependent As developing nations grow, we must guard 407Q against nationalism and instead seek global solutions

34 Bridge Industry, Government, Academe Complex global issues pose technological and social challenges requiring an integrated approach Each sector has different time scales for decision making, and are motivated by different opportunities Science, policy and commercialization are critical partners for the future Global Opportunities Abound!

35 Summary Concepts I. Energy is the engine of modern economies fossil fuels provide 87% of today s s energy II. Energy transitions take time fossil fuels are the stable bridge to an alternate energy future pace is limited by cost and infrastructure scale electricity is growing as an end use energy III. 21 st Century Policy Builds Global Bridges

Energy Outlook Global and Domestic Trends and Challenges. Dr. John Caldwell Director of Economics, EEI 1

Energy Outlook Global and Domestic Trends and Challenges. Dr. John Caldwell Director of Economics, EEI 1 Energy Outlook Global and Domestic Trends and Challenges Dr. John Caldwell Director of Economics, EEI 1 World GDP Growth Other Economies are Outpacing the U.S. Other, 7996.16, 11% Africa, 3962.51, 6% Latin

More information

The U.S. Economic Outlook

The U.S. Economic Outlook The U.S. Economic Outlook Presented to: Maquiladora Industry Outlook Conference September 29 2006 Presented by: Patrick Newport Principal, U.S. Macroeconomic Service 781-301-9125 patrick.newport@globalinsight.com

More information

colorado.edu/business/brd

colorado.edu/business/brd colorado.edu/business/brd Big Changes, Unknown Impacts Southwest Business Forum Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations January

More information

Your Texas Economy. Last updated: January 30, 2018

Your Texas Economy. Last updated: January 30, 2018 Your Texas Economy Last updated: January 30, 2018 Texas economy strong in 2017 2017 job growth was 2.4% Overview 2015/2016 job growth was much weaker due to the oil bust (1.3% and 1.2%, respectively) 2014

More information

MUSTAFA MOHATAREM Chief Economist, General Motors

MUSTAFA MOHATAREM Chief Economist, General Motors MUSTAFA MOHATAREM Chief Economist, General Motors INTRODUCTION The U.S. economy continues to grow at a gradual but also erratic pace The current recovery is one of the slowest in the post-wwii U.S. history.

More information

Report from the Council

Report from the Council Report from the Council NW Hydroelectric Association Spokane WA October 30, 2014 Tom Karier NW Power and Conservation Council Topics 1. Highlights of the 6 th Plan (2010) 2. What actually happened 3. What

More information

EFFECTS OF EXTENDING AND EXPANDING ENERGY-EFFICIENCY TAX DEDUCTION FOR COMMERCIAL BUILDINGS

EFFECTS OF EXTENDING AND EXPANDING ENERGY-EFFICIENCY TAX DEDUCTION FOR COMMERCIAL BUILDINGS EFFECTS OF EXTENDING AND EXPANDING ENERGY-EFFICIENCY TAX DEDUCTION FOR COMMERCIAL BUILDINGS Prepared by Regional Economic Models, Inc. (REMI) Agenda Overview of 179D tax provision Energy efficiency and

More information

U.S. AUTO INDUSTRY UPDATE Federal Reserve Bank of Chicago Automotive Outlook Symposium. Emily Kolinski Morris Chief Economist May 2015

U.S. AUTO INDUSTRY UPDATE Federal Reserve Bank of Chicago Automotive Outlook Symposium. Emily Kolinski Morris Chief Economist May 2015 U.S. AUTO INDUSTRY UPDATE Federal Reserve Bank of Chicago Automotive Outlook Symposium Emily Kolinski Morris Chief Economist May 2015 NORTH AMERICA INDUSTRY VOLUME SUMMARY 13.1 Total North America* (Mils.)

More information

Energy Trends and Emissions in the Former Soviet Union

Energy Trends and Emissions in the Former Soviet Union Energy Trends and Emissions in the Former Soviet Union GTSP Annual Meeting May 29, 2008 Presented by M. Evans Looking back Overview Economic and demographic trends Energy trends and energy intensity Toward

More information

Economic Outlook March Economic Policy Division

Economic Outlook March Economic Policy Division Economic Outlook March 212 Economic Policy Division Real GDP Outlook Percent Change, Annual Rate 2 1 1 - -1 197 197 198 198 199 199 2 2 21 U.S. GDP Actual and Potential Quarterly, Q1 197 to Q4 211 Real

More information

Puget Sound Regional Forecast Chris Mefford Community Attributes

Puget Sound Regional Forecast Chris Mefford Community Attributes 2015 Puget Sound Regional Forecast Chris Mefford Community Attributes 3 1,000s The Regional Economy has added jobs consistently for nearly 5 full years. In a few months, this will be the longest streak

More information

Global economy s strong momentum intact despite elevated level of uncertainty. Canada headed for another year of solid growth

Global economy s strong momentum intact despite elevated level of uncertainty. Canada headed for another year of solid growth ECONOMICS I RESEARCH Global economy s strong momentum intact despite elevated level of uncertainty Canada headed for another year of solid growth Dawn Desjardins (Deputy Chief Economist) (416) 974-6919

More information

The Economic Outlook. Economic Policy Division

The Economic Outlook. Economic Policy Division The Economic Outlook Economic Policy Division Glass Half Full Six plus years of moderate growth Real GDP Outlook Percent Change, Annual Rate 10 5 0-5 -10 1980 1985 1990 1995 2000 2005 2010 2015 Glass Half

More information

Oil Prices: Past, Present, & Future

Oil Prices: Past, Present, & Future Oil Prices: Past, Present, & Future Gulf Research Center November 23, 2005 A. F. Alhajji*, PhD Gulf Energy Program - Moderator Gulf Research Center Dubai, UAE *A. F. Alhajji, PhD is also George Patten

More information

The U.S. Economic Recovery: Why so weak and what should be done? William J. Crowder Ph.D.

The U.S. Economic Recovery: Why so weak and what should be done? William J. Crowder Ph.D. The U.S. Economic Recovery: Why so weak and what should be done? William J. Crowder Ph.D. Weak Recovery? It s no secret that the U.S. economy has still not fully recovered from the financial crisis and

More information

Global Outlook for Agriculture Trend versus Cycle

Global Outlook for Agriculture Trend versus Cycle Global Outlook for Agriculture Trend versus Cycle Michael Swanson Ph.D. Wells Fargo October 2017 Everything is connected we just don t see how. Connection corollary: Nothing natural moves in a straight

More information

Market Report Series Oil 2017

Market Report Series Oil 2017 Market Report Series Oil 2017 Neil Atkinson, Head Oil Industry & Markets Division, IEA International Institute for Strategic Studies, Bahrain, 17 September 2017 Oil demand continues to grow but at a slower

More information

BLOOMBERG NEW ENERGY FINANCE SUMMIT

BLOOMBERG NEW ENERGY FINANCE SUMMIT BLOOMBERG NEW ENERGY FINANCE SUMMIT NEW YORK 23 APRIL 2013 Michael Liebreich, Chief Executive Bloomberg New Energy Finance Twitter: @miebreich // / / / 1 AGENDA 1. Clean energy investment update 2. Four

More information

ADVANCING NATURAL GAS IN THE MULTIFAMILY BUILDINGS MARKET

ADVANCING NATURAL GAS IN THE MULTIFAMILY BUILDINGS MARKET M a r c h 1 4, 2 0 14 ADVANCING NATURAL GAS IN THE MULTIFAMILY BUILDINGS MARKET Northeast Gas Association Sales and Marketing Conference Rick Murphy Managing Director Sustainable Growth American Gas Association

More information

Big Changes, Unknown Impacts

Big Changes, Unknown Impacts Big Changes, Unknown Impacts Boulder Economic Forecast Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations January 17, 2018 Real GDP Growth

More information

The Power Generation Mix and 3E Consequence: The Implications for Taiwan. Yi-Hua Wu, Chia Hao Liu, Hancheng Dai and Toshihiko Masui

The Power Generation Mix and 3E Consequence: The Implications for Taiwan. Yi-Hua Wu, Chia Hao Liu, Hancheng Dai and Toshihiko Masui The Power Generation Mix and 3E Consequence: The Implications for Taiwan Yi-Hua Wu, Chia Hao Liu, Hancheng Dai and Toshihiko Masui 1 Introductions Purpose Investigate the impacts of various power generation

More information

Real GDP Growth Quarterly Real GDP

Real GDP Growth Quarterly Real GDP Real GDP Growth Quarterly Real GDP Percent Change, SAAR 10.0 8.0 6.0 4.0 2.0 0.0-2.0-4.0-6.0-8.0-10.0 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 Sources: Bureau of Economic Analysis

More information

Trade Growth - Fundamental Driver of Port Operations and Development Strategies

Trade Growth - Fundamental Driver of Port Operations and Development Strategies Trade Growth - Fundamental Driver of Port Operations and Development Strategies Marine Terminal Management Training Program October 15, 2007 Long Beach, CA Paul Bingham Global Insight, Inc. 1 Agenda Economic

More information

The Economic Outlook. Economic Policy Division

The Economic Outlook. Economic Policy Division The Economic Outlook Economic Policy Division Glass Half Full Six years of steady growth Real GDP Outlook Percent Change, Annual Rate 10 5 0-5 -10 1980 1985 1990 1995 2000 2005 2010 2015 Glass Half Full

More information

What s Ahead for The Colorado Economy?

What s Ahead for The Colorado Economy? What s Ahead for The Colorado Economy? Colorado Counties Inc. Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations November 28, 2017 Real GDP

More information

Global Service Sector Trends

Global Service Sector Trends Global Service Sector Trends Jerry Logan Vice President Strategy & Portfolio Energy Services Group Halliburton Presentation to the Energy Summit 2005 LSU Center for Energy Studies October 19-20, 2005 Today

More information

The outlook: what we know, the known unknowns and the unknown unknowns

The outlook: what we know, the known unknowns and the unknown unknowns The outlook: what we know, the known unknowns and the unknown unknowns 24 April 2017 Seoul Brian Pearce, Chief Economist, IATA www.iata.org/economics Airline Industry Economics Advisory Workshop 2016 1

More information

Index, nominal terms, 2010 = Energy. Agriculture Metals

Index, nominal terms, 2010 = Energy. Agriculture Metals Outline Broad commodity price trends Index, nominal terms, 2010 = 100 180 150 Energy 120 90 60 Agriculture Metals 30 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Source:

More information

Telling Canada s story in numbers Elizabeth Richards Analytical Studies Branch April 20, 2017

Telling Canada s story in numbers Elizabeth Richards Analytical Studies Branch April 20, 2017 Recent Developments in the Canadian Economy: How have the decline in oil prices and a weaker Canadian dollar affected Canada s economy? www.statcan.gc.ca Telling Canada s story in numbers Elizabeth Richards

More information

Major Issues and Trends Facing the Port and Marine Transportation Industry

Major Issues and Trends Facing the Port and Marine Transportation Industry Major Issues and Trends Facing the Port and Marine Transportation Industry Presented to: AAPA Marine Terminal Management Training Program April 24, 2006 Charleston Riverview Hotel Charleston, SC - USA

More information

Steel: A Buyer s Market for the Worst of Reasons. John Anton Director, IHS Global Insight Steel Service August 2009

Steel: A Buyer s Market for the Worst of Reasons. John Anton Director, IHS Global Insight Steel Service August 2009 Steel: A Buyer s Market for the Worst of Reasons John Anton Director, IHS Global Insight Steel Service August 2009 The U.S. Recession Is Bottoming Out This recession has been the most severe of the postwar

More information

U.S. and Ohio Midstream Infrastructure Development

U.S. and Ohio Midstream Infrastructure Development U.S. and Ohio Midstream Infrastructure Development Findings and Results from ICF s Study for American Petroleum Institute, April 2017, U.S. Oil and Gas Infrastructure Investment through 2035 An Engine

More information

The World Picture A View for Sea Trade

The World Picture A View for Sea Trade The World Picture A View for Sea Trade Presented to: AAPA Marine Terminal Management October 20, 2008 Baltimore, MD Presented by: Scott Sigman Principal, Global Trade & Transportation IHS Global Insight

More information

Will 2016 Be the Last Hurrah for Commercial Real Estate? Presented By: John Chang First Vice-President Marcus & Millichap Research Services

Will 2016 Be the Last Hurrah for Commercial Real Estate? Presented By: John Chang First Vice-President Marcus & Millichap Research Services Will 2016 Be the Last Hurrah for Commercial Real Estate? Presented By: John Chang First Vice-President Marcus & Millichap Research Services Rising Uncertainty Creating Headwinds for Commercial Real Estate

More information

Market Report Series. Spanish Energy Club, Madrid, 3 May 2018

Market Report Series. Spanish Energy Club, Madrid, 3 May 2018 Market Report Series Oil 2018 Spanish Energy Club, Madrid, 3 May 2018 Neil Atkinson, Head of Oil Industry and Markets Division Toril Bosoni, Senior Oil Market Analyst, Oil Industry and Markets Division

More information

RBC Economics Financial Update Dawn Desjardins

RBC Economics Financial Update Dawn Desjardins RBC Economics Financial Update Dawn Desjardins CICA/RBC Q4 2011 Business Monitor Economic Results Overview Business and Economic Optimism Begin to Stablize 100 % 80 % 60 % 40 % 20 % 0 % National Optimism

More information

2016 Indiana Renewables Study & 2015 Forecast

2016 Indiana Renewables Study & 2015 Forecast 2016 Indiana Renewables Study & 2015 Forecast Presented by: Douglas J. Gotham, Director State Utility Forecasting Group Purdue University Presented to: Interim Study Committee on Energy, Utilities, and

More information

Economy-wide (general equilibrium) analysis of Philippines mitigation potential

Economy-wide (general equilibrium) analysis of Philippines mitigation potential Global Trade Analysis Project Economy-wide (general equilibrium) analysis of Philippines mitigation potential Erwin Corong Center for Global Trade Analysis, Purdue University Crowne Plaza Hotel, Manila

More information

How is Natural Gas Availability Curtailing the growth of DRI production in the MENA region?

How is Natural Gas Availability Curtailing the growth of DRI production in the MENA region? How is Natural Gas Availability Curtailing the growth of DRI production in the MENA region? 29 April 2014 World DRI & Pellet Congress Abu Dhabi Robert Smith 1 The Issues Natural gas availability in the

More information

Outline. Overview of globalization. Global outlook for real economic activity & inflation. Risks to the outlook

Outline. Overview of globalization. Global outlook for real economic activity & inflation. Risks to the outlook 2017 International Economic Outlook Everett Grant Research Economist Globalization & Monetary Policy Institute Federal Reserve Bank of Dallas October 2017 The views expressed are those of the author and

More information

Government finances A long term assessment. Presented by Edwina Matos Pereira

Government finances A long term assessment. Presented by Edwina Matos Pereira Government finances A long term assessment Presented by Edwina Matos Pereira Walter Mosher June 22, 2010 Structure 1. Aruba s current fiscal landscape 2. Long term outlook & scenarios 3. Aruba s GDP volatility

More information

PEMEX PETROQUIMICA 2013 ANNUAL CONFERENCE. PCI Xylenes & Polyester Doug Rightler

PEMEX PETROQUIMICA 2013 ANNUAL CONFERENCE. PCI Xylenes & Polyester Doug Rightler PEMEX PETROQUIMICA 2013 ANNUAL CONFERENCE PCI Xylenes & Polyester Doug Rightler Discussion Points» MEG demand growth by region.» MEG supply - China is in control or is it?» Price drivers - the Chinese

More information

THE FUTURE OF SALES TAX REVENUE

THE FUTURE OF SALES TAX REVENUE THE FUTURE OF SALES TAX REVENUE Presented by Adam Fulton, Senior Economic Associate The Outlook for Sales Taxes State governments rely on state sales taxes for more than a fifth of their revenue Economic

More information

Steel Market Outlook. AM/NS Calvert

Steel Market Outlook. AM/NS Calvert Steel Market Outlook AM/NS Calvert Agenda Economic indicators Key steel consuming markets and forecasted demand Steel consumptions trends Global steel markets and raw materials Comments on trade 1 U.S.

More information

Climate Change & India

Climate Change & India Climate Change & India New Delhi How has India warmed over the past 117 years? How the temperatures have increased seasonally? How far away we are from 1.5 degree C target? Methodology 117 years (1901-1916)

More information

4 th IEA-IEF-OPEC Symposium on Energy Outlooks. Riyadh, 22 January 2014

4 th IEA-IEF-OPEC Symposium on Energy Outlooks. Riyadh, 22 January 2014 4 th IEA-IEF-OPEC Symposium on Energy Outlooks Riyadh, 22 January 2014 Spare or stranded?* mb/d 7.0 Medium-Term Oil Market Balance 6.0 5.0 4.0 3.0 2.0 1.0 0.0-1.0 2004 2005 2006 2007 2008 2009 2010 2011

More information

Opportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip?

Opportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip? Opportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip? Ross DeVol Chief Research Officer (310) 570 4615 rdevol@milkeninstitute.org www.milkeninstitute.org Presentation

More information

Recreational Boating Industry

Recreational Boating Industry Recreational Boating Industry Powering the Canadian Economy 2017 policy agenda 2 Table of Contents A Note from NMMA Canada s Executive Director A Note from NMMA Canada s Executive Director...3 What is

More information

economic and financial outlook

economic and financial outlook Centre de référence en agriculture et agroalimentaire du Québec April 21, 2015 2015 2016 economic and financial outlook François Dupuis Vice-President and Chief Economist Desjardins Group Cooperating in

More information

The Energy Years Leading Trinidad and Tobago s energy sector in a time of global change

The Energy Years Leading Trinidad and Tobago s energy sector in a time of global change The Energy Years Leading Trinidad and Tobago s energy sector in a time of global change By Kevin C. Ramnarine KBH Center, University of Texas at Austin January 24 2017 Structure of Lecture The global energy

More information

Global Boxboard Market Review

Global Boxboard Market Review Global Boxboard Market Review Sailing In A World Of Volatility And Uncertainty European Conference March 2018 Alejandro Mata Senior Economist, European Forest Products Copyright 2018 RISI, Inc. Proprietary

More information

U.S Cement Outlook IEEE. Ed Sullivan Group VP, Chief Economist

U.S Cement Outlook IEEE. Ed Sullivan Group VP, Chief Economist U.S Cement Outlook IEEE Ed Sullivan Group VP, Chief Economist 1 Construction Activity Billion Real $ 1,400 1,200 1,000 2014 = 2.5% 2015 = 5.6% 800 600 400 200 0 12 Year Peak-to- Peak Recovery 1998 2000

More information

U.S. Infrastructure Market: Will It Jump-Start the Economy? Scott Hazelton Director, Construction Advisory Services May 21, 2009

U.S. Infrastructure Market: Will It Jump-Start the Economy? Scott Hazelton Director, Construction Advisory Services May 21, 2009 U.S. Infrastructure Market: Will It Jump-Start the Economy? Scott Hazelton Director, Construction Advisory Services May 21, 2009 Infrastructure Spending: Where Does it Go? Other Power, 6.9% 2008 Shares

More information

The Party Is Over U.S. Automotive Outlooks

The Party Is Over U.S. Automotive Outlooks The Party Is Over U.S. Automotive Outlooks Yen Chen Senior Research Economist Center for Automotive Research Federal Reserve Bank of Chicago Economic Outlook Symposium December 1, 2017 U.S. Light Vehicle

More information

2016 Mid-Year Economic Update

2016 Mid-Year Economic Update 2016 Mid-Year Economic Update Featuring: Brian Lewandowski, University of Colorado Boulder Jenel Stelton-Holtmeier, Modern Distribution Management Sponsored by: June 14, 2016 Introduction Macroeconomic

More information

Macro-economic risk and the outlook for aviation

Macro-economic risk and the outlook for aviation Macro-economic risk and the outlook for aviation 25 th January 2018, Dublin Brian Pearce, Chief Economist, IATA www.iata.org/economics Macro matters 24% 20% Global GDP and RPK growth 12% 10% 16% 12% 8%

More information

Aggreko International. Kash Pandya Regional Director Aggreko International

Aggreko International. Kash Pandya Regional Director Aggreko International Aggreko International Kash Pandya Regional Director Aggreko International 1 Aggreko International One management team Two business models which support each other International Power Projects Local Business

More information

sector: recent developments VÍTOR CONSTÂNCIO

sector: recent developments VÍTOR CONSTÂNCIO The economy and the banking sector: recent developments VÍTOR CONSTÂNCIO January 2006 Recent performance of the economy and prospects Factors behind the period of slow growth Challenges to the Banking

More information

ENERGIEWENDE THE GERMAN ENERGY TRANSITION SUCCESSES & CHALLENGES

ENERGIEWENDE THE GERMAN ENERGY TRANSITION SUCCESSES & CHALLENGES Source: thebreakthrough.org ENERGIEWENDE THE GERMAN ENERGY TRANSITION SUCCESSES & CHALLENGES FJERNVARMEINDUSTRIENS ENERGIPOLITISKE KONFERENCE 31. MARTS 2016 AGENDA 1. German energy supply - facts & figures

More information

Market Outlook January,

Market Outlook January, Market Outlook 2004 January, 2004 www.teekay.com Forward Looking Statements This document contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended)

More information

Short and Medium-Term Oil Market Outlook. 13 th Shanghai Derivatives Market Forum - 25 May 2016

Short and Medium-Term Oil Market Outlook. 13 th Shanghai Derivatives Market Forum - 25 May 2016 Short and Medium-Term Oil Market Outlook 13 th Shanghai Derivatives Market Forum - 25 May 2016 Oil world changed on Nov. 27 th 2014 $/bbl 120 Brent crude oil 100 80 60 40 Copyright 2016 Argus Media 20

More information

Sulphur Market Outlook

Sulphur Market Outlook Sulphur Market Outlook Meena Chauhan Head of Sulphur and Sulphuric Acid Integer Research The Fertilizer Institute Outlook and Technology conference Fort Lauderdale, Florida Founded in 2002, Integer Research

More information

Issues in the Long-Term Economic Outlook for Canada

Issues in the Long-Term Economic Outlook for Canada Policy and Economic Analysis Program Rotman School of Management University of Toronto Issues in the Long-Term Economic Outlook for Canada Office of the Chief Actuary Canada Pension Plan Seminar September

More information

The 2015 Mid-Year Economic Update

The 2015 Mid-Year Economic Update Download slides here at www.mdm.com/slides or email info@mdm.com The 2015 Mid-Year Economic Update Brian Lewandowski and Thomas P. Gale June 18, 2015 Produced by: Sponsored by: Download slides here at

More information

The Great Economic Reset

The Great Economic Reset The Great Economic Reset CMTA Annual Conference Squaw Creek Lake Tahoe April 13, 2016 Presented by Douglas C. Robinson, RCM Robinson Capital Management LLC SEC Registered Investment Advisory Firm Advisory

More information

WINDS OF CHANGE GLOBAL FLEET & MRO MARKET FORECAST

WINDS OF CHANGE GLOBAL FLEET & MRO MARKET FORECAST WINDS OF CHANGE 2016-2026 GLOBAL FLEET & MRO MARKET FORECAST SEPTEMBER 28, 2016 Chris Doan Vice President AVIATION Oliver Wyman s Aviation, Aerospace & Defense practice is the largest and most capable

More information

International Trade Trends 2010 Review and 2011 Outlook

International Trade Trends 2010 Review and 2011 Outlook International Trade Trends 2010 Review and 2011 Outlook Nancy D. Sidhu, Ph.D. Chief Economist The Kyser Center for Economic Research LAEDC May 18, 2011 International Container Traffic at Nation s Major

More information

Energy Reform in Mexico: Secondary Legislation

Energy Reform in Mexico: Secondary Legislation Energy Reform in Mexico: Secondary Legislation Dr. Guillermo C. Domínguez Vargas Comisionado Laredo, Tx., May 22, 2014. www.cnh.gob.mx guillermo.dominguez@cnh.gob.mx @DrGCDV Nine Bills 1. Hydrocarbons

More information

U.S. Oil & Gas Industry Chartbook

U.S. Oil & Gas Industry Chartbook U.S. Oil & Gas Industry Chartbook BBVA Research USA Houston, TX September 2015 DISCLAIMER This document was prepared by Banco Bilbao Vizcaya Argentaria s (BBVA) BBVA Research U.S. on behalf of itself and

More information

2018 Annual Economic Forecast Dragas Center for Economic Analysis and Policy

2018 Annual Economic Forecast Dragas Center for Economic Analysis and Policy 2018 Annual Economic Forecast Dragas Center for Economic Analysis and Policy PRESENTING SPONSOR EVENT PARTNERS 2 The forecasts and commentary do not constitute an official viewpoint of Old Dominion University,

More information

Canadian NGLs Outlook: Awash in Liquids

Canadian NGLs Outlook: Awash in Liquids Canadian Energy Research Institute Canadian NGLs Outlook: Awash in Liquids Dinara Millington Canadian Energy Research Institute 24 th Williston Basin Petroleum Conference May 24-26, 2016 Canadian Energy

More information

Susan J. Adams, PhD IMF-PFTAC Coordinator

Susan J. Adams, PhD IMF-PFTAC Coordinator A MACROECONOMIC PORTRAIT OF THE PACIFIC: A Presentation for PEGASeS August 16, 2007 Susan J. Adams, PhD IMF-PFTAC Coordinator Compiled by the IMF Asia and Pacific Department Edited by PFTAC OUTLINE OF

More information

WINDS OF CHANGE GLOBAL FLEET & MRO MARKET FORECAST

WINDS OF CHANGE GLOBAL FLEET & MRO MARKET FORECAST WINDS OF CHANGE 2016-2026 GLOBAL FLEET & MRO MARKET FORECAST OCTOBER 19, 2016 Tom Cooper Vice President AVIATION Oliver Wyman s Aviation, Aerospace & Defense practice is the largest and most capable consulting

More information

The Rise of China and Breaking out the Middle- Income Trap in Latin America and the Caribbean countries: A New Structural Economics Approach

The Rise of China and Breaking out the Middle- Income Trap in Latin America and the Caribbean countries: A New Structural Economics Approach The Rise of China and Breaking out the Middle- Income Trap in Latin America and the Caribbean countries: A New Structural Economics Approach Justin Yifu Lin Senior Vice President and Chief Economist The

More information

INDUSTRY OVERVIEW BOB WELLS SENIOR VICE PRESIDENT, CORPORATE COMMUNICATIONS & PUBLIC AFFAIRS FINANCIAL COMMUNITY PRESENTATION OCTOBER 3, 2017

INDUSTRY OVERVIEW BOB WELLS SENIOR VICE PRESIDENT, CORPORATE COMMUNICATIONS & PUBLIC AFFAIRS FINANCIAL COMMUNITY PRESENTATION OCTOBER 3, 2017 INDUSTRY OVERVIEW BOB WELLS SENIOR VICE PRESIDENT, CORPORATE COMMUNICATIONS & PUBLIC AFFAIRS Forward Looking Statement The presentations today will contain certain forward looking statements," as defined

More information

Growth, Innovation, and the Future of the Arizona Economy. Michael Crow Arizona State University December 21, 2016

Growth, Innovation, and the Future of the Arizona Economy. Michael Crow Arizona State University December 21, 2016 Growth, Innovation, and the Future of the Arizona Economy Michael Crow Arizona State University December 21, 2016 Billions Arizona Gross Domestic Product, 2005-2016 $280 $275 $270 $265 $260 $255 $250 $245

More information

2015 Economic Forecast & Industry Outlook. Robert A. Kleinhenz, Ph.D. Chief Economist, Kyser Center for Economic Research, LAEDC October 8, 2014

2015 Economic Forecast & Industry Outlook. Robert A. Kleinhenz, Ph.D. Chief Economist, Kyser Center for Economic Research, LAEDC October 8, 2014 2015 Economic Forecast & Industry Outlook Robert A. Kleinhenz, Ph.D. Chief Economist,, LAEDC October 8, 2014 Outline U.S. Economy California Economy Southern California Economy & Industries Five-Year Outlook

More information

The Shifts and the Shocks Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times

The Shifts and the Shocks Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times The Shifts and the Shocks Martin Wolf, Associate Editor & Chief Economics Commentator, Financial Times Peterson Institute for International Economics 9 th October 2014 Washington DC The Shifts and the

More information

Federal R&D Investments in the 2009 Budget

Federal R&D Investments in the 2009 Budget Federal R&D Investments in the 2009 Budget Kei Koizumi October 24, 2008 for the University of Michigan Engineering Advisory Council AAAS R&D Budget and Policy Program http://www.aaas.org/spp/rd See the

More information

Economic Outlook. Peter Rupert Professor and Chair Department of Economics, UCSB Director, UCSB Economic Forecast Project

Economic Outlook. Peter Rupert Professor and Chair Department of Economics, UCSB Director, UCSB Economic Forecast Project Economic Outlook Peter Rupert Professor and Chair Department of Economics, UCSB Director, UCSB Economic Forecast Project League of California Cities Monterey, CA December 3, 2014 Economic Update economic

More information

Carol Tomé CFO and Executive Vice President, Corporate Services

Carol Tomé CFO and Executive Vice President, Corporate Services Carol Tomé CFO and Executive Vice President, Corporate Services Financial Overview December 6, 2017 1 Discussion Overview Fiscal 2017 Financial Guidance Our View of the Economy and State of the U.S. Housing

More information

UNEP BEIJING 2008 OLYMPIC GAMES AN ENVIRONMENTAL REVIEW UNITED NATIONS ENVIRONMENT PROGRAMME

UNEP BEIJING 2008 OLYMPIC GAMES AN ENVIRONMENTAL REVIEW UNITED NATIONS ENVIRONMENT PROGRAMME UNEP BEIJING 2008 OLYMPIC GAMES AN ENVIRONMENTAL REVIEW UNITED NATIONS ENVIRONMENT PROGRAMME CONTENTS CONTRIBUTORS 6 ABOUTTHE REPORT 8 ABOUT UNEP 10 UNEP'S SPORT AND ENVIRONMENT PROGRAMME 10 ENVIRONMENT

More information

INTERSECTIONS. Metro Denver 2016 Economic Forecast January 2016

INTERSECTIONS. Metro Denver 2016 Economic Forecast January 2016 INTERSECTIONS Metro Denver 2016 Economic Forecast January 2016 Employment Intersections Employment growth and Great Recession recovery Industry clusters Average annual salary Photo Credit: istockphoto

More information

Oregon Global Warming Commission

Oregon Global Warming Commission Oregon Global Warming Commission 2015 Report to the Legislature House Energy and Environment Committee January 14, 2016 Angus Duncan, OGWC Chair Jessica Shipley, ODOE staff 2015 Biennial Report to the

More information

URANIUM GOVERNANCE IN THE UNITED STATES

URANIUM GOVERNANCE IN THE UNITED STATES URANIUM GOVERNANCE IN THE UNITED STATES Sharon Squassoni Director, Proliferation Prevention Program Center for Strategic & International Studies Uranium Governance Workshop Danish Institute of International

More information

The Material Basis of the Global Economy

The Material Basis of the Global Economy ESEE 2005 17 June 2005, Lisbon The Material Basis of the Global Economy Implications for Sustainable Resource Use Policies in North and South Arno Behrens, Stefan Giljum, Jan Kovanda, Samuel Niza arno.behrens@seri.at

More information

Corn Outlook. December, 2017

Corn Outlook. December, 2017 Corn Outlook December, 2017 Corn Outlook December, 2017 Historical Price Reference Fundamental Backdrop Seasonal Tendency Summary Commodity & Ingredient Hedging 2 Historical Price Reference Where are Corn

More information

MBA Economic and Mortgage Finance Outlook

MBA Economic and Mortgage Finance Outlook MBA Economic and Mortgage Finance Outlook MBA of Alabama Annual Conference June 7, 2017 Presented by Lynn Fisher Mortgage Bankers Association 1 Summary of the MBA Outlook 2016 2017 2018 2019 GDP Growth

More information

Commodity Market Outlook: Corn, Forage, Wheat & Cattle

Commodity Market Outlook: Corn, Forage, Wheat & Cattle Commodity Market Outlook: Corn, Forage, Wheat & Cattle Stephen R. Koontz Professor & extension economist Department of Agricultural & Resource Economics Colorado State University Stephen.Koontz@ColoState.Edu

More information

Can Manufacturing Still be a Driver of

Can Manufacturing Still be a Driver of Can Manufacturing Still be a Driver of Inclusive Growth? Robert Z Lawrence Albert L Williams Professor of Trade and Investment Harvard Kennedy School Senior Fellow, MasterCard Center for Inclusive Growth

More information

Babson Capital/UNC Charlotte Economic Forecast. May 13, 2014

Babson Capital/UNC Charlotte Economic Forecast. May 13, 2014 Babson Capital/UNC Charlotte Economic Forecast May 13, 2014 Outline for Today Myths and Realities of this Recovery Positive Economic Signs Negative Economic Signs Outlook for 2014 The Employment Picture

More information

5. Golf Industry Trends and Developments in the US 6. The US Macro Economy Factors and Impact over Golf Industry

5. Golf Industry Trends and Developments in the US 6. The US Macro Economy Factors and Impact over Golf Industry TABLE OF CONTENTS 1. Golf Industry Performance Worldwide 1.1. Overview 1.2. Global Golf Equipment Demand and Economy 2. The US Golf Industry Overview 2.1. Industry Segmentation 3. Industry Performance

More information

U.S. REITs have rebounded strongly Dow Jones Equity REIT Total Return Index

U.S. REITs have rebounded strongly Dow Jones Equity REIT Total Return Index U.S. REITs have rebounded strongly Dow Jones Equity REIT Total Return Index Index, 2005 = 100 250 200 150 100 50 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Sources: Bloomberg, Dow Jones. Affordability

More information

URBAN LAND INSTITUTE

URBAN LAND INSTITUTE URBAN LAND INSTITUTE 2012 ULI FALL MEETING (Denver, 18 October 2012) The Global Economic Outlook Dark clouds on the horizon Andrea Boltho Magdalen College University of Oxford Oxford Economics and REAG

More information

Demographics, Debt, Dollar and Deflation Is the next Great Reset coming?

Demographics, Debt, Dollar and Deflation Is the next Great Reset coming? Demographics, Debt, Dollar and Deflation Is the next Great Reset coming? CMTA Advanced Investment Workshop January 28, 20145 Presented by Douglas C. Robinson RCM Robinson Capital Management LLC SEC Registered

More information

Comparison of urban energy use and carbon emission in Tokyo, Beijing, Seoul and Shanghai

Comparison of urban energy use and carbon emission in Tokyo, Beijing, Seoul and Shanghai International Workshop on Urban Energy and Carbon Modeling, February 5-6, 28, AIT Centre, Asian Institute of Technology, Pathumthani, Thailand Comparison of urban energy use and carbon emission in Tokyo,

More information

Alistair Wallace. Director, Senior Consultant and Nitrogen Team Lead CRU Group. Nitrogen Outlook

Alistair Wallace. Director, Senior Consultant and Nitrogen Team Lead CRU Group. Nitrogen Outlook Alistair Wallace Director, Senior Consultant and Nitrogen Team Lead CRU Group Nitrogen Outlook Strong demand fundamentals underpin nitrogen market, but... Presentation Structure...producers have overcooked

More information

Five Issues For Shipping Today

Five Issues For Shipping Today Martin Stopford President, Clarkson Research Five Issues For Shipping Today Are you worrying about the right thing? The Seventh City of London Biennial Meeting 12 th November 213 Issue 1: Shipping Cycle

More information

China s Industrial Capabilities and Trade

China s Industrial Capabilities and Trade China s Industrial Capabilities and Trade Loren Brandt Thomas Rawski June 16, 2005 Key Facts: China, 2003 Population: 1.3 billion (1 st ) GNP: $US 1.4 trillion (3 rd ) Foreign Trade: $US 850.1 (3rd) GNP

More information

CENTRAL HUDSON GAS & ELECTRIC CORPORATION CASE 17-E- & 17-G- EAM PANEL SCHEDULE OF EXHIBITS

CENTRAL HUDSON GAS & ELECTRIC CORPORATION CASE 17-E- & 17-G- EAM PANEL SCHEDULE OF EXHIBITS EAM PANEL SCHEDULE OF EXHIBITS CARBON INTENSITY EAM- CO₂ INTENSITY TARGETS & CARBON DIOXIDE CARBON INTENSITY EAM- CO₂ INTENSITY TARGETS & CO 2 CARBON INTENSITY EAM- CARBON MARKET PROFILE UTILITY FUNDING

More information