Heinz College Events

Convocation: Energy 2012 and Beyond: Supply, Demand, and Thermodynamics

Dr. Dale M. Nesbitt

MarketPoint Founder, Deloitte MarketPoint LLC

Energy & Resources 

Three inter-related energy problems have been top-of-mind for business and government over the last several years:

1. World oil, refining, transportation, and products.From Keystone pipeline to WTI/Brent price spreads to crude price to Indian or Saudi refineries to light duty vehicle fleets in place, people have wanted to know the forward evolution of the oil sector. Oil price is in the news almost daily. Where might it be headed, and why?

2. Gas and gas burn.Everyone has heard about the “shale revolution,” prospects for export, etc. However, the key question needs to be answered—what does shale gas mean for price? What does price mean for indigenous gas burn? Will LNG be exported or imported? Where is the gas-to-oil price ratio headed? Is increased production of shale going to be offset by increased gas burn for power generation? Answers involve gas supply questions and gas demand questions, particularly gas burn for power generation.

3. Emissions and renewables. CO2 taxation/cap and trading may or may not occur. SO2 and NOx regulation are in limbo since the Supreme Court stayed CSAPR. Do renewables portfolio standards (RPS) and tradable renewable energy credits (RECs) drive rates up and reliability down? Do they drive gas consumption down? Are they sustainable? What do they do to GDP?

The program will include a 30-40 minutes presentation and discussion led by Dr. Nesbitt, followed by an open Q&A.

Biography:

Dr. Nesbitt’s career spans the energy space worldwide. Following a PhD in Engineering Economic Systems, he worked at Xerox Palo Alto Research Center, then the Stanford Research Institute, before founding Decision Focus Inc. in 1977. In 1995 he left to start Altos Management Partners, simultaneously founding MarketPoint Inc., later Deloitte MarketPoint LLC, to develop world class forward market and decision support technology to serve industry and government. Dr. Nesbitt is known across the energy industry for his market modeling methods used for most of the North American and world energy companies in the oikl, gas, electricity, coal and emissions business.

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