Program | Speakers | Videos

Moderator:
Paul Deninger, Vice Chairman, Jefferies & Company Inc.

Investment in renewable energy dropped in 2009 due to the overall downturn, but what's the outlook for the year ahead? How are projects and start-ups getting financed today? Are low electricity and natural gas prices driving down the sector's appeal? Which technologies are emerging as winners, and which are still a long way from maturity? Did Recovery Act funding change the dynamic? This panel provides insight into the best opportunities in the green energy sector.

Moderator:
Michael Milken, Chairman, Milken Institute

Ted Turner didn't mince words: "We've gotta get off the Titanic before it sails." He and T. Boone Pickens argued passionately that America has to start weaning itself off foreign oil imports — and do it now.

Their session began with a recap of how president after president has pledged to achieve energy independence, while the percentage of U.S. oil imported from foreign sources in volatile regions has continued to climb. Today the nation imports some two-thirds of its oil.

"We're paying for both sides of the war," said Pickens, insisting that oil money sent to the Middle East is paying for terrorists and the Taliban. He expressed optimism that President Obama has pledged to end oil imports from the Middle East within 10 years, but was quick to add: "We have to remind him." Pickens pointed out that the U.S. represents about 4 percent of world's population but consumes 25 percent of the world's oil, an equation that's just not sustainable. He called for transitioning the nation's fleet of 18-wheelers to natural gas immediately.

The big question of the day is whether Washington has the political will to effect a fundamental change in America's energy consumption. Turner expressed worry about the influence of special interests and argued that the U.S. has to end oil and coal subsidies to level the playing field for renewables.

Pickens pointed out that China is already moving to ensure its energy independence, and the United States can, too. He believes strongly that we will see a strong energy bill passed this year or next, noting how many millions had signed onto the Pickens Plan online. He believes the grassroots effort can make something happen — and "scare the hell out of those politicians."

Both men agreed that time is of the essence and acting is crucial to our children's livelihoods and lives. Reducing America's reliance on foreign oil, transitioning to natural gas and turning to renewable sources will be a win all around, in terms of national security, economic stability, jobs, cleaning up the environment and fighting climate change.

"We have to go to wind and solar eventually," said Turner. "Why not now? . . . Let's do the right thing and we'll all get rich!"

Moderator:
Richard Saines, Partner, Baker & McKenzie LLP

Without a doubt, the United States needs to get serious about managing and reducing its carbon footprint. While the goal may be clear, implementation will be a tall order. What's the best way to get this done: a cap-and-trade system or a carbon tax? Which would be most effective at reducing emissions? Which is most practical? And perhaps most important, is it possible to pass either one given the current political climate? What would be the effect on businesses? What are other countries doing?

Moderator:
Joel Kurtzman, Senior Fellow and Executive Director of SAVE, Milken Institute

U.S. policymakers are taking a hard look at ways to diversify the nation's energy portfolio, and biofuels hold tremendous appeal as an energy source that could be produced domestically, generating jobs and creating major opportunities for the U.S. agricultural sector. But despite their promise, biofuels must overcome considerable hurdles, from tight credit markets and skittish investors to a lack of retail outlets. What are the primary barriers to funding — and what are the solutions? Does corn deserve another chance? What can subsequent generations of biofuels learn from the ethanol industry's experience? How close are we to developing potentially game-changing end molecules? What role should the government play in launching this fledgling industry, and how can federal efforts attract private capital?

Moderator:
Brian Sullivan, Anchor, Fox Business Network

Just like you wouldn't have only one stock in a portfolio, said Jay Pryor of Chevron, America needs to diversify its energy sources. His solution? "Invest, baby, invest."

A Global Conference panel on energy brought home the growing national security concerns surrounding U.S. reliance on oil imported from volatile regions. Gen. Wesley Clark, who works today as an energy investor, noted that the U.S. is sending billions of dollars every year to autocratic states just to purchase oil. Changing this dynamic will require a major focus on the transportation sector.

We're on the brink of a major shift, however. Biofuels are gaining momentum, we've just figured out how to extract huge stores of natural gas from shale and electric cars are being rolled out. Major oil companies like Chevron are branching out, too. Investors just need clear policy signals. As Clark put it, the technology is ready and the capital just waiting is on the sidelines.

But panelists cautioned against having the government pick winners and losers. Instead we need to concentrate on diversifying our options. Anne Korin of the Institute for the Analysis of Global Security was adamant that we need to develop flex-fuel cars that give consumers choices and "hedge our bets in every direction."

This wide-ranging policy discussion — deftly moderated by the entertaining Brian Sullivan of Fox Business Network — covered everything from the role of nuclear energy to the vulnerabilities of the current electric grid. Don't miss the video.

Moderator:
Nancy McFadden, Senior Vice President and Senior Advisor to the Chairman and CEO, PG&E Corp.

Businesses long ago realized that going green is not just a smart P.R. move — it's good for the bottom line as well. But how far have most corporations really gone? Has the business community lost any of its resolve, or has the imperative to go green reached critical mass? How can major corporations lead the way to create positive changes throughout their supply chains? How does a commitment to sustainability affect employees and the community at large? This panel identifies which companies are leading the way, outlines the practical steps they've taken and measures the reaction from customers along with the costs and cost savings.

Moderator:
Joel Kurtzman, Senior Fellow and Executive Director of SAVE, Milken Institute

This year the Milken Institute's SAVE initiative has continued its focus on alternative energy initiatives, culminating in the founding of the new Center for a Sustainable Energy Future. This annual roundtable discussion highlights the center's projects, which include developing financing solutions that will pave the way toward retrofitting homes and businesses for increased energy efficiency, launching a large-scale biofuels industry and building the smart grid.

Moderator:
Raymond Wood, Managing Director and Co-Head, U.S. Power Group and The Global Alternative Energy Group, Credit Suisse

Europe has surpassed the U.S. as the largest producer of wind turbines. China is No. 1 in manufacturing photovoltaic solar cells. Brazil leads the world in ethanol. But the United States has been slow out of the starting gate. What policy changes do we need to take the lead in going green? What are other nations doing right? Is meeting this challenge also the key to jumpstarting job growth?

Moderator:
Peter Passell, Senior Fellow, Milken Institute; Editor, The Milken Institute Review

While the world moved a bit closer to a coordinated effort to contain climate change, the Copenhagen summit last December made it all too clear that we will have to overcome deep divisions on how to reduce greenhouse gas emissions (and how to apportion the cost of doing so). This panel evaluates where we now stand and the prospects for moving forward expeditiously. Equally important, it considers a topic on which considerable progress was made at Copenhagen: mitigating the consequences of climate change. Panelists discussed how to cope with risks ranging from rising sea levels to radical changes in weather patterns, and how to manage the effort in countries that lack the resources to do it on their own.

Moderator:
Tim Shanahan, Director, Energy and Minerals Initiative, The University of Western Australia

Natural gas now provides 23 percent of all energy consumed in the world, and the International Energy Agency predicts that demand will grow by more than 67 percent through 2030. The cleanest-burning conventional fuel, natural gas produces lower levels of greenhouse gas emissions than coal and oil. Recent breakthroughs in drilling technology have ushered in the "shale revolution" — and the United States happens to be sitting on vast reserves. What does the development of these resources mean for liquefied natural gas (LNG) imports to the U.S.? On an international level, which nations are the major players? Where are the most ambitious development projects taking shape? What are the investment risks? How is demand from China and other emerging nations shaping the world market? Will currently depressed prices slow the industry's expansion? Will natural gas supplant coal in electricity generation, helping the world cut emissions in the short term? This roundtable discussion focused on finding the answers and clarifying what lies ahead for natural gas.

Moderator:
Martha Amram, CEO, Ennovationz; Senior Fellow, Milken Institute

Green building standards have long been in place for new structures — but in order to make major strides in reducing our energy consumption, we need to get serious about retrofitting millions of existing homes and commercial spaces. Up till now, though, the costs have been prohibitive. But the possibility of making your home more energy-efficient and saving money from the first day could become a reality in 2010, thanks to the confluence of financing, stimulus funding and jobs programs. The recent emergence of Property Assessed Clean Energy, or PACE, bonds has given cities and states the tools to lead the charge for improving energy efficiency. The experts on this panel helped to shape this landscape. In this session, they identify the key market opportunities and business models that support this massive change.