Energy Market Globalization: Investment and Commodity Price Cycles and the Role of Geopolitics

The past several decades have been characterized by episodes affecting financial markets and energy markets that have resulted in dramatic change. These events have created challenges for energy companies as the investment climate evolves. The conference "Energy Market Globalization: Investment and Commodity Price Cycles and the Role of Geopolitics" is the capstone for a study on the interaction of the oil investment cycle and the general business cycle that includes consideration of how the global economy and capital investments are influenced by oil prices. We will be discussing recently completed research on geopolitical and structural drivers of oil price, relationships between commodity prices and macroeconomic indicators, and outlooks for oil supply and demand. The conference will feature top energy and financial industry leaders, policymakers and industry commentators.

 

Conference Agenda

8:30 am Registration and Coffee

9:00 am Welcome and Study Design
Kenneth B. Medlock III, Ph.D., James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics and Senior Director, Center for Energy Studies, Baker Institute

9:15 am Keynote Address -- "Crisis and Reconstruction in a World of Diffused Economic Power"
Edgard H. Habib, Ph.D., Chief Economist, Chevron Corporation

10:00 am "Emerging Relationships Between Commodities and Currencies"
Daniel P. Ahn, Ph.D., Visiting Scholar, International Monetary Fund

10:45 am Coffee Break

11:15 am "A Structural Approach to Understanding Oil Prices"
Kenneth B. Medlock III, Ph.D., James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics and Senior Director, Center for Energy Studies, Baker Institute Noon Lunch

1:00 pm "Geopolitical Developments in the Middle East"
Ambassador Edward P. Djerejian, Founding Director, Baker Institute

1:45 pm "Supply, Demand and Oil Price Cycles: The Medium-term View"
Mahmoud A. El-Gamal, Ph.D., Professor of Economics and Statistics, and Chair of Islamic Economics, Finance and Management, Rice University

2:30 pm Coffee Break

3:00 pm Discussion: Geopolitical Interactions and Market Impacts
Moderator: Michael Levi, Ph.D., David M. Rubenstein Senior Fellow for Energy and the Environment and Director, Program on Energy Security and Climate Change, Council on Foreign Relations

"The Oil Price Cycle and Geopolitics: Dire Implications for OPEC?"
Amy Myers Jaffe, Executive Director for Energy and Sustainability, University of California, Davis

"U.S. Energy Policy and the Impacts on Energy Markets"
Charles D. McConnell, Former Assistant Secretary for Fossil Energy, U.S. Department of Energy

"Asia Energy Security and Post-Peak Oil Geopolitics"
Greg Priddy, Director, Global Energy and Natural Resources, Eurasia Group

4:30 pm Closing Remarks
Kenneth B. Medlock III, Ph.D., James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics and Senior Director, Center for Energy Studies, Baker Institute

Reception to Follow

 

 
To view the entire conference, please click below:
 
Speaker Kenneth B. Medlock III
Kenneth B. Medlock III, Ph.D., is the James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics at the Rice University’s Baker Institute and the senior director of the Center for Energy Studies, as well as an adjunct professor and lecturer in the Department of Economics ...

Kenneth B. Medlock III, Ph.D., is the James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics at the Rice University’s Baker Institute and the senior director of the Center for Energy Studies, as well as an adjunct professor and lecturer in the Department of Economics at Rice University. He is a principal in the development of the Rice World Natural Gas Trade Model, aimed at assessing the future of international natural gas trade. He has published numerous scholarly articles in his primary areas of interest: natural gas markets, energy commodity price relationships, gasoline markets, transportation, national oil company behavior, economic development and energy demand, and energy use and the environment. He also teaches courses in energy economics and supervises Ph.D. students in the energy economics field.


Medlock is currently the vice president for academic affairs for the United States Association for Energy Economics (USAEE). In 2001, he won (joint with Ron Soligo) the International Association for Energy Economics Award for Best Paper of the Year in the Energy Journal. In 2011, he was given the USAEE’s Senior Fellow Award. He is also an active member of the American Economic Association and the Association of Environmental and Resource Economists, and is an academic member of the National Petroleum Council (NPC). Medlock has served as an adviser to the U.S. Department of Energy and the California Energy Commission in their respective energy modeling efforts. He was the lead modeler of the Modeling Subgroup of the 2003 NPC study of long-term natural gas markets in North America, and was a contributing author to the recent NPC study “North American Resource Development.”


Medlock received his Ph.D. in economics from Rice in 2000, and held the MD Anderson Fellowship at the Baker Institute from 2000 to 2001.



Kenneth B. Medlock III

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When?

Wed, June 12, 2013
8:30 a.m. - 5 p.m.
(GMT-0500) America/Chicago

Where?

James A. Baker III Hall, Rice University
6100 Main St.
Houston, Texas 77005

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