Nov. 12, 2008


Description

"Open to all interested in SPEGCS events.
Everyone is invited to attend, Young Professional or not."

 
As the Energy World Turns…

November Young Professionals Development Dinner:

In the next episode, Venezuela, Iran and Russia stir up more drama while China, India and Brazil continue to grow as silent giants. The United States is dealing with an internal struggle about how and which resources to develop. Is this another soap opera or reality television show? Actually, these are real issues being discussed by world leaders and our industry members. Come join SPE-GCS Young Professionals to hear Dr. Michael Economides speak about the current state of energy geopolitics.

First 100 registrants will receive a gift copy of From Soviet to Putin and Back: The Dominance of Energy in Today’s Russia by Michael Economides courtesy of BJ Services and Piper-Morgan Personnel Consultants.

Details on "Young Professionals Development Dinner - Energy Geopolitics and Russia’s Dominance in World Energy"

The past few years have been eventful in the world of energy. Oil prices climbed to $145 per barrel, expected to remain quite high for the foreseeable future. While the calculated by us equilibrium price of oil should hover around $50, geopolitical headlines rule the price and the world is constantly one headline away from far larger oil prices. There is a substantial imbalance in the location of energy producers and consumers, an imbalance that has precipitated world conflicts and one that will likely cause future upheavals. Prominent among these areas is the Middle East where five of the six countries with 75 billion barrels of reserves are located. The Straits of Hormuz through which one third of all trans-national oil trade passes is a geopolitical choke point.

Energy militant nations such as Iran, Venezuela and, over the last few years, Russia hold a considerable sway over the energy trade. Iran’s nuclear enrichment program has had a measurable impact on oil prices. In Venezuela Hugo Chávez has led a Latin American populist insurgency, has totally re-nationalized his country’s oil industry and has taken a very militant and hard-line position towards the biggest consumer of them all, the United States. Russia’s energy ascendancy over the past decade has been an important counterbalance to the power of OPEC. However, recent re-centralization of Russia’s energy industry, amounting to what we have called re-Sovietization, has given rise to what can easily be described as energy imperialism.  See www.soviettoputin.com

One obvious bright spot for the future is that energy consumption in the generation of wealth and the forms of primary energy sources have not been constant throughout the last two centuries. Of considerable significance is the change of fuels from wood to coal to oil and now to natural gas and, eventually, hydrogen will play a role. Wide use of electricity in transportation is the only obvious long-term, decades away, future.

Distorting the economically sane path to the future is the confusion deriving from the current lack of overlap between primary energy sources such as oil and natural gas and improbable ideas for alternative energy sources such as the practically energy-negative bio-fuels, headed by ethanol or, even more impractical alternatives such as solar electricity.

Compounding the issue even further is the entire rhetoric of global climate change, its presumed anthropogenic component, and the proposed solutions, bound to add to energy costs and energy availability.



Event Schedule

5:30 – Cash bar open                                       FREE PARKING!

6:00 - Welcome/Registration

6:30 - Dinner

7:00 - Speaker                                  Cash bar available!

8:00 – Questions and Conclusion

Directions:

 

From 59:

Exit Chimney Rock.
Right on Westheimer Road.
Go 50 yards and stay to right as road splits.  You are now
on West Alabama. Use Entrance # 7 to your left which
is 75 yards past the Westin Galleria Valet Entrance.
There is a hallway entrance to the Mall on Level 2.5.
The Plaza Ballroom is on the same level right though the glass doors and past the elevators.

From 610:

Exit Westheimer
Turn Left on Sage (3rd Stoplight)
Turn Left at next Stoplight which is West Alabama Street.
Use Entrance # 7 to you left which is 75 yards past the Westin
Galleria Valet Entrance. There is a hallway entrance to the Mall
on Level 2.5. The Plaza Ballroom is on the same level right though the glass doors and past the elevators.


Featured Speakers

Speaker: Dr. Michael J. Economides
Speaker Dr. Michael J. Economides
Professor at University of Houston XGAS & Paleon Oil & Gas MICHAEL J. ECONOMIDES is Chairman of the Board of XGAS and Paleon Oil and Gas. He is also a Professor at the Cullen College of Engineering, University of Houston. His professional interests include petroleum production and petroleum management, a ...

Professor at University of Houston
XGAS & Paleon Oil & Gas

M EconomidesMICHAEL J. ECONOMIDES is Chairman of the Board of XGAS and Paleon Oil and Gas. He is also a Professor at the Cullen College of Engineering, University of Houston. His professional interests include petroleum production and petroleum management, a particular emphasis on natural gas, natural gas transportation, LNG, CNG and processing, economics and geopolitics. Previously he was the Samuel R. Noble Professor of Petroleum Engineering at Texas A&M University and served as Chief Scientist of the Global Petroleum Research Institute (GPRI).



Prior to joining the faculty at Texas A&M University, Professor Economides was the Director of the Institute of Drilling and Production at the Leoben Mining University in Austria. Before that, Dr. Economides worked in a variety of senior technical and managerial positions with a major petroleum services company.


His publications include authoring or co-authoring of 14 professional textbooks and books, including “The Color Of Oil” and “From Soviet to Putin and Back”, and over 200 journal papers and articles. He is also the Editor-in-Chief of the Energy Tribune. Economides does a wide range of industrial consulting, including major retainers by national oil companies at the country level and by Fortune 500 companies. He has had professional activities in over 70 countries. In addition to his technical interests he has written extensively in wide circulation media in a broad range of issues associated with energy, energy economics and geopolitical issues. He also appears regularly as a guest and expert commentator on national and international television programs.


Full Description



Organizer

Omar Ullah


Date and Time

Wed, Nov. 12, 2008

5:30 p.m. - 8:30 p.m.
(GMT-0500) US/Central

Event has ended

If you do not have a full-time job in the oil and gas industry, are a full-time student or Member in Transition (MiT) member, and you do not see a discounted registration fee for students/MiT regarding this event, please contact the GCS manager at spe-gcs@spe.org.


Location

Westin Galleria

5060 West Alabama
Houston, TX 77056
USA