White House Administration Member and Economic Thought Leaders Address Platts Global Energy Outlook Forum

U.S. Department of Energy Under Secretary for Science Dr. Steven Koonin States Importance of U.S. Leadership and Examines U.S. Role in Global Energy Sustainability

NEW YORK, Dec. 2 /PRNewswire/ — Platts — U.S. Department of Energy Under Secretary for Science Steven Koonin asked a group of energy industry leaders today to analyze America’s commitment to and progress toward sustainability against a challenging global backdrop, stating the need for engaged conversation about energy resources and how to use them in a more sustainable manner.

At the third annual Platts Global Energy Outlook Forum entitled “The Outlook for Sustainability: Charting a Course Amidst Economic, Geopolitical and Environmental Challenges” Koonin urged energy executives to apply a construct sense of balance in carving out such strategies, as “sustainability is about managing imbalances.” Those imbalances include the gap between oil reserves and demand for oil, as well as those inherent in the current human relationship with the carbon cycle.

Koonin also told attendees: “Energy changes are slow unless there is a deliberate drive for acceleration.”

The forum brought together globally renowned economists, analysts and business leaders to debate the viability of many of the sustainable solutions now under discussion or implementation worldwide. Koonin’s keynote address was followed by roundtable discussions debating the politics and economics of — and industry preparedness for — future electric power and oil supply solutions.

As part of the Forum, leading economists participated today in a lively debate about the true economics of proposed sustainable solutions for future electric power and oil supply. Among the issues discussed: cap and trade schemes, demand response including “smart meter” and “smart grid,” the renaissance of nuclear power, renewable energy such as wind and solar, clean coal technologies, OPEC, the Middle East and Russian oil supply, and biofuels.

Guerry Waters, vice president, industry strategy and marketing utilities global business unit, Oracle, led discussion surrounding the economics of sustainability, stating that achieving sustainability will be no small task or quick fix. Panelists included John Kingston, Platts global director of oil, who talked about how some U.S. companies are “betting their futures on what they believe will be a bonanza from shale natural gas.” Kingston also pointed to analysts who question the ultimate efficacy of that strategy.

Sarah O. Ladislaw, fellow, Energy and National Security Program, Center for Strategic and International Studies, discussed the intersection of security and sustainability, pointing out how “consumer feelings of insecurity increased when the price of oil went up.” Michael Mandel, former chief economist for BusinessWeek, “was optimistic, long-term” despite projections about the industry in the face of a global population crisis and global warming prospects that will exacerbate energy supply. Robert Murray, vice president of economic affairs, McGraw-Hill Construction, pointed to housing starts and transmission line expansion: “The leading indicators for the construction industry trend upward.”

David Wyss, chief economist, Standard & Poor’s, maintained that the U.S. economy has bottomed out after the longest and deepest recession since the 1930s, “but the recovery remains fragile.” Wyss expects the recovery to be slow and uneven, because “there are too many internal and external imbalances to support robust growth.”

James Parish, executive vice president, energy solutions and LEAN transformations, RWD, headed up the other panel on sustainability. Michael F. Mansfield, Sr., chief executive officer at Mansfield Oil Company, discussed the pre-eminent position of sustainable policy at Mansfield. Roberta Bowman, senior vice president and chief sustainability officer, Duke Energy Technology, maintained that “sustainability, on an industry basis, will only come about through dedication to efficiency, collaboration and capacity-building.”

Curt L. Hebert, Jr., executive vice president, external affairs, Entergy Corp., approached sustainability from the perspective of “conduct,” as well as creating proper incentives and price signals. Pedro Azagra, chief development officer, Iberdola, tied sustainability policy to the proper servicing of clients and communities.

John Caroselli, executive vice president of National Grid, discussed the innovative way the company tasks sustainability goals to its individual lines of business and how to mobilize customers to get on board.

R.W. Beck was the principal sponsor of the Forum joined by co-sponsors Oracle, RWD and Capgemini.

The names of winners of the Platts Global Energy Awards “Award of Excellence” can be found at: http://img.en25.com/Web/Platts/AOE_GEO_Forum_Final.pdf.

The forum precedes the energy industry’s most prestigious annual awards program, now in its 11th year and hosted by Platts, the world’s leading energy and metals information provider, which this year is celebrating its 100th anniversary. The awards showcase exemplary accomplishments by businesses and individuals worldwide.

As part of the program, winners will be announced on December 3 for several new or updated categories for 2009, including Green Energy Initiative of the Year, Deal of the Year; Infrastructure Project of the Year; and Energy Producer of the Year. The annual awards finalists and winners exemplify the spirit of innovation and an enduring commitment to employees, customers, shareholders, the environment, and the energy industry as a whole.

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SOURCE Platts