Power Shifts In Global Energy

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Power Shifts In Global Energy by Milken Institute

Moderator

Gregory Zuckerman, Special Writer, Wall Street Journal; Author, “The Frackers

Speakers

Pierre Breber, Corporate Vice President and President, Gas and Midstream, Chevron

Karen Harbert, President and CEO, Institute for 21st Century Energy, U.S. Chamber of Commerce

Joshua Harris, Co-Founder and Member, Board of Directors, Apollo Global Management

John Raymond, Managing Partner and CEO, Energy & Minerals Group

As 2015 began, the United States had become a premier global oil producer, bringing the ideal of energy independence closer to reality. Its huge output, however — aided by new extraction methods — has contributed to a hard slide in prices and jolted the geopolitics of energy. OPEC leader Saudi Arabia hasn’t cut production, aiming to maintain its market share. Indeed, these conditions are forcing drillers to cancel projects in the U.S. and elsewhere. Is there a realistic scenario for returning to $100-plus per barrel? Would it require a renewal of vibrant growth in emerging markets? Questions are also multiplying around natural gas, whose price is similarly depressed. Is it still considered a bridge fuel between coal and renewables? Will Russia’s gas exports influence Europe’s actions in the dispute over Ukraine? Solar and wind are getting cheaper as they follow the technology cost curve. Is that enough to put them in homes and power stations around the world, or are fossil fuels too entrenched? The experts and executives on this panel will keep us at the forefront of this crucial, rapidly changing field.

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