PESA Members gathered on September 18 for a Market Outlook Luncheon at The Briar Club in Houston, hosted by the PESA Energy Educators Committee.
Marshall Adkins, Raymond James, presented his analysis of present and future energy markets following opening remarks from PESA Board Member and Energy Educators Committee Chair, Galen Cobb, Vice President Industry Relations, Halliburton.
Adkins, who leads the energy research team at Raymond James, discussed the current growth of onshore production, unconventional gains and future price forecasts.
Dr. Scott Tinker, Bureau of Economic Geology, University of Texas, provided the keynote for the luncheon. Tinker first presented at the 2018 PESA Annual Meeting, where he discussed global energy, poverty and carbon. During this presentation, he spoke to the audience about the changing energy industry and how energy policy and technology can lift emerging communities out of poverty.
Tinker described how the prevalent narrative is that nuclear energy and fossil fuels are “bad” and renewables are “good.”
“But the reality is that most people don’t know how electricity is made or where gasoline comes from,” he said.
Tinker said there are arguments on both sides of the equation, with some thinking that climate change is the most important issue of the moment, and fossil fuels are the problem, with others thinking that poverty is the most important issue of the moment, and fossil fuels are the solution. The challenge is to seek the middle through civil discourse.
“Half the world gets their energy from coal,” he said. “While demand has flattened in North America and Europe, energy consumption has tripled in these growing economies.”
Things such as electric cars aren’t going to solve the emissions problem, he said, because they still have to be charged and the energy to do so has to come from somewhere. Then companies have to think about the additional problems of the scarcity of rare-earth elements and worn-out technology.
“Nothing at scale is without environmental impact in the energy world. Environmentalists are getting duped by the bad conversation,” Tinker said.
“Only by bringing together those on each side of the discussion spectrum – environmentalists and fossil fuel proponents – into civil discourse in the radical middle, will we begin to have intelligent conversations about energy,” Tinker said.
Dr. Tinker is featured in the award-winning energy documentary film “Switch” and is the voice of “EarthDate,” which brings weekly stories about earth and science to nearly 300 National Public Radio stations in all 50 U.S. states.
Members were enthusiastic about both presentations.
“Both presentations were very well thought out and offered some perspectives I don’t hear often. Well done!”
"One of the best fact-based presentations I have seen on global energy and the impact on the environment and poverty.”
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Dr. Scott Tinker
Bureau of Economic Geology, University of Texas at Austin