CERA Week: Day Two

OIL DAY - By Ashley Baird - CleanSkies TV News - HOUSTON, TX -

There was a growing presence of energy leaders, academics, press, and more on day two of CERAWEEK 2009. Tuesday, a gloomy day overlooking Houston fell hand-in-hand with a gloomy outlook for energy and the global economy in 2009. The day started off with an opening address by Tony Hayward, Group Chief Executive of BP. Mr. Hayward touched on a bevy of energy issues, including the impacts on the energy industry during a global recession, the importance of having a free energy market, and the changing balance of energy supply and demand. He said the impacts of the industry have been suddenly severe, but the world economy will eventually recover. Hayward also noted that although the United States is one of the world’s largest oil and gas producers, production is at a great decline. He said now is a great moment to work with President Obama and Congress to craft a comprehensive national energy policy, one that creates jobs and generates government revenues.

After Hayward’s address, CSTV’s Susan McGinnis sat down with Nariman Behravesh, Chief Economist at IHS Global Insight and Author of "Spin-Free Economics". Susan and Mr. Behravesh discussed the global economic pain endured due to volatile oil prices. Behravesh said that while he is encouraged by our energy future, higher oil prices are needed to spur growth in the renewable sector. You can watch this interview on Wednesday’s Energy Report at 4 PM EASTERN. Mr. Behravesh is also scheduled to speak on Thursday, Feb. 12 for “Power Day”, during a discussion on the future of the global economy.

One of the most highly anticipated speeches of the day came from the Executive Director of the International Energy Agency, Nobuo Tanaka. Before his keynote address, CSTV’s Susan McGinnis caught up with Mr. Tanaka for a special one-on-one interview discussing the future of energy in the United States and abroad. Despite a negative tone being portrayed on the outlook for the economy, Tanaka remains optimistic about the future in the energy sector, more so than in the financial sector. He said there needs to be more investment in energy worldwide. Tanaka emphasized the importance of the U.S. stimulus package getting passed, calling it a “nice idea” and “what all other governments should follow”. You can catch that interview on Wednesday’s Morning Report at 9 AM and also on The Energy Report at 4 PM.

Meanwhile, CSTV News Executive Editor Margaret Ryan sat down with Gerard McCloskey, Chairman and Founder of The McCloskey Group. The McCloskey Group is in charge of coal news and data for CERA. Mr. McCloskey said that coal prices have been walking in-step with oil for the past 18 months, and that’s having a terrible impact in the United States. He said that in the U.S., steel production is collapsing and coal producers are facing a tough time. You can watch this interview on Wednesday’s Energy Report at 4 PM EASTERN.

Oil Day closed with a Keynote Dinner address from Ali Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources to the Kingdom of Saudi Arabia. Mr. Al-Naimi gave a somber address to the audience discussing the current state of the global energy market and the task of achieving energy market stability in what he calls “uncertain times”. Al-Naimi said 2008 was a year of unprecedented turmoil, and that achieving energy stability is a difficult task in what are inherently volatile markets. CSTV’s Susan McGinnis will have much more on Al-Naimi’s address coming up on Wednesday’s Morning Report at 9 AM, as well as on “CleanSkies Sunday”, airing on WJLA in Washington, DC on Sunday, February 15, 2009 at 9:30 AM.

A big day lies ahead for Wednesday, which is “Gas Day” at CERAWEEK. Stay tuned for all of our CERAWEEK 2009 coverage at www.cleanskies.tv.