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PERPETUATING HOUSTON as the ENERGY CAPITAL OF THE WORLD

Houston has deep roots in energy, with almost 50% of its economy driven by the energy sector. The 20^th century was dominated by fossil fuels, particularly hydrocarbons after World War II. Hydrocarbons were cheap, making it difficult for other energy sources to compete {except for the price aberrations from 1973 to 1985 stimulated by the oil Arab embargo}. The collapse in energy prices brought on rough economic times for Houston in the late 1980's; but in the process, its role in oil & gas grew even stronger.

The 21^st century begins with an energy phase change driven by the enormous demand growth in energy, in particular from China and India. This is coupled with geopolitical concerns around the Middle East and the tightness in crude oil supply that has given rise to energy security issues. On top of that, carbon based fuels are under global pressure due to fears of the repercussions of global warming. These new dynamics have brought on higher energy prices that appear sustainable with expectations of energy demand doubling by 2050.

Houston faces the need to intelligently adapt to the changing energy landscape. Other cities like Detroit, Pittsburg, Tulsa, and New York have struggled through the economic and social quagmire of responding too slowly to changes in their main economic base. The Houston region and the state of Texas are responding. The Greater Houston Partnership has built an Energy Collaborative with the expressed purpose of perpetuating Houston as the Energy Capital.

One of the major thrusts is to expand the energy portfolio with a significant push today toward becoming a powerhouse in wind, where Texas has distinct advantages and the economics have become compelling. Developing the next generation energy workforce is another primary goal, recognizing that the energy industry will migrate to other areas that provide the necessary skill capabilities, if they are not available in the home front. Finally, Houston must demonstrate its leadership around energy issues, including the ability to develop community best practices.

This mantra of becoming the energy capital of the future must be imbedded in Houston’s core institutions, particularly educational and research centers of excellence. Both Rice University and the University of Houston are embracing this 21^st century calling. Through a cluster approach of leveraging industry, universities, the public sector, and the economic development organizations, Houston can leverage and transform its 20^th century leadership in oil & gas to become the Energy Capital of the world during the 21^st century.

MENU:

Pasta salad

Meat loaf (beef)

Fresh fruit sherbert

NOTE: If you require a special meal (vegetarian, diabetic, religious, etc), please inform us at the time of registration so we can notify the Petroleum Club in advance of the meeting. Waiting until arrival at the Petroleum Club to ask for a special meal will result in an additional $5 charge.

Thanks for your cooperation!

Location: Petroleum Club, 43 Floor, ExxonMobil Building
800 Bell Street
Houston , Texas 77002

Date: May 8, 2008, 11:30 a.m. - May 8, 2008, 1 p.m.