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Program - By Energy Track:

Monday, April 29, 2013

  2:15 PM - 3:15 PM

Energy Infrastructure: Getting New Supply to Market Faster

Speakers:
Mark Florian , Managing Director and Head of Infrastructure Funds, First Reserve
Rick Grafton , CEO and Chief Investment Officer, Grafton Asset Management
Charlotte Philipps , Managing Director, Xenon Capital Partners
Geert van de Wouw , Managing Director, Shell Technology Ventures

Moderator:
Conrad Kiechel , Director of Communications, Milken Institute

Unconventional oil and gas deposits, as well as solar parks and wind farms, are making sizable contributions to the U.S. energy supply. However, these new sources may be located far from demand centers, and the transport infrastructure may be insufficient to get them there. Usually, the principal barriers to building are political and environmental, rather than technological. One high-profile example: the Keystone XL oil pipeline. On the power transmission side, it can take 15 years to set up high-voltage lines due to the long process of planning, mapping, environmental review, land acquisition and much more. Our panel will explore whether pipelines, transmission and other projects can keep pace with the rapid development of supply. How does financing figure into the question? Are there ways to reconcile local quality-of-life interests with the nation's energy demands, along with the needs of the industry vis-a-vis environmental stakeholders?

Tuesday, April 30, 2013

  7:15 AM - 9:15 AM

Using the Tools of Finance to Create a Cleaner Environment (By invitation only)

Moderator:
Joel Kurtzman , Senior Fellow and Executive Director, Milken Institute Senior Fellows Program; Publisher, Milken Institute Review

Despite years of effort and failed energy legislation, there is still no national market for carbon in the U.S. Nor a global one. In Europe's regional trading system, a mismatch between supply and demand persists - too much supply, too little demand -- due, in part, to the way carbon credits are allocated. As a consequence, a number of easily achieved, low-cost emissions-reduction strategies have yet to be applied. Among these are curbing tropical deforestation, climate-smart agricultural practices and fostering low-carbon energy sources in developing countries. To break out of this circle and get private capital flowing, a source of early demand for carbon credits is needed, along with complementary risk-reduction financing. Novel financing mechanisms, like call options on forest carbon credits, could be part of the solution. This market-oriented private roundtable will look at accelerating the development of nascent carbon markets - national, regional and around the world.

  9:30 AM - 10:30 AM

Climate Change: Hope for the Best, Prepare for the Worst

Speakers:
Nathaniel Keohane , Vice President, International Climate Program, Environmental Defense Fund
Michael Levi , David M. Rubenstein Senior Fellow for Energy and the Environment, Director of the Program on Energy Security and Climate Change, Council on Foreign Relations
Molly Macauley , Vice President for Research and Senior Fellow, Resources for the Future
Richard Sandor , Senior Fellow, Milken Institute; Chairman and CEO, Environmental Financial Products; Lecturer in Law and Economics, University of Chicago
Sheldon Whitehouse , U.S. Senator

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

Most scientists agree that it is too late to prevent significant changes in the climate caused by the accumulation of greenhouse gases in the atmosphere. While it is more important than ever to reduce emissions, policymakers must begin to think about adaptation to the consequences of warming -- extreme rainfall cycles, rising sea levels and biological dislocation. This panel will explore a variety of means for managing the risks, ranging from enhanced market-based insurance and big infrastructure projects to bioengineering. And it will tackle the thorny question of who should pay the bills in both rich and poor countries, along with how to raise the necessary revenue with minimal economic disruption.

Read the blog post

  2:30 PM - 3:30 PM

The End of Energy Scarcity?

Speakers:
Rick George , Former CEO, Suncor Energy; Partner, Novo Investment Group
Joshua Harris , Co-Founder and Chief Investment Officer, Apollo Global Management, LLC
T. Boone Pickens , Entrepreneur and Philanthropist; Founder, BP Capital
Jay Pryor , Vice President, Business Development, Chevron
R. James Woolsey , Venture Partner, Lux Capital; Chairman, Foundation for Defense of Democracies; Former Director of Central Intelligence

Moderator:
Brian Sullivan , Anchor, CNBC

In 2008, oil hit $147 a barrel and natural gas traded as high as $14 per million British thermal units. Then fracking technology matured. Rather than being plagued by diminishing supplies, current data indicates that the U.S. has the largest fossil fuel reserves in the world. Instead of importing oil and natural gas, the Energy Information Agency forecasts that the U.S. will be a net exporter of energy as soon as 2020. Already companies are moving chemical plants back to the U.S. to take advantage of natural gas prices that have fallen to as low as $2 per million BTUs. Other countries are also contemplating the use of fracking. What will this energy boom do to the world economy? How will it affect the entrenched players in or aligned with OPEC? Will these dynamics shift the balance of global economic power? Our panel will examine the implications of energy abundance.

  3:45 PM - 4:45 PM

Will Natural Gas Fuel the Future?

Speakers:
Ralph Eads III , Vice Chairman, Jefferies LLC
Rick Grafton , CEO and Chief Investment Officer, Grafton Asset Management
Yossie Hollander , Chairman, Fuel Freedom Foundation
Shaia Hosseinzadeh , Principal, WL Ross & Co. LLC
Nathaniel Keohane , Vice President, International Climate Program, Environmental Defense Fund

Moderator:
Brian Sullivan , Anchor, CNBC

To many, natural gas is the solution to the intermittent energy crises the U.S. has dealt with for decades. Domestic supplies have swelled, largely a result of shale discoveries accessed by fracking, a controversial technique. Partly as a consequence, prices have fallen dramatically since 2008 and companies are trying to figure out how to take advantage of it. But opponents of fracking remain active, and natural gas, though cleaner than coal for use in electric plants, is still a fossil fuel that emits climate-changing carbon dioxide. In addition, although natural gas could power cars and trucks, that would require infrastructure building and changes in vehicle manufacturing. Another challenge: Prices are so low, they don't cover the cost of extraction. Will natural gas fuel our future? If so, how?

  6:00 PM - 6:30 PM

Book signing: Al Gore, "The Future: Six Drivers of Global Change"

Wednesday, May 1, 2013

  10:00 AM - 11:00 AM

Oil, Power and Saudi Arabia: A Conversation with Karen Elliott House and T. Boone Pickens

Speakers:
Karen Elliott House , Former Publisher, The Wall Street Journal; Author, "On Saudi Arabia"
T. Boone Pickens , Entrepreneur and Philanthropist; Founder, BP Capital

Saudi Arabia is the linchpin of the world energy system, the swing producer that steadies the supply-demand balance and cushions price volatility. In an analogous way, its ruling monarchy is often seen as a bulwark of political stability as much of the Mideast convulses. Yet the desert kingdom is also the nucleus of extreme Islam and virtually owned by a superrich, dictatorial dynasty that subjugates women. The nation's pivotal role - and the future of the oil economy - will be considered by former Wall Street Journal Publisher Karen Elliott House, author of "On Saudi Arabia," a new book about Saudi society and politics, and famed energy investor T. Boone Pickens. Should we expect a sea change or more of the same when the royal family passes the throne to a younger generation? Will dissent rise among the youthful populace along with Internet use? Pickens has long urged the U.S. to replace Saudi oil with natural gas. What's the status of his campaign?

Read the blog post

  11:15 AM - 12:15 PM

For Renewable Energy, a Painful Transition to Maturity

Speakers:
Stephen Gatto , CEO, Myriant Corporation
Arno Harris , CEO and Chairman, Recurrent Energy; Chairman, Solar Energy Industries Association
Peter Rothstein , President, New England Clean Energy Council
Eric Spiegel , CEO, Siemens USA
Howard Wenger , President, Regions, SunPower

Moderator:
Joel Kurtzman , Senior Fellow and Executive Director, Milken Institute Senior Fellows Program; Publisher, Milken Institute Review

Government subsidies and falling prices have led to tremendous growth in renewables, particularly wind and solar, over the last decade. However, with overcapacity in manufacturing and governments now cutting back support, there have been many bankruptcies and remaining manufacturers are still struggling with profitability. Will the industry further consolidate to curb excess supply? Which areas of demand will continue to grow in a lower subsidy environment? Are there any bright spots emerging in renewables manufacturing? Will the United States, China and the European Union resolve their trade disputes in renewables?


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