JU Public Policy Institute: Energy Policy Event
(http://photos.metrojacksonville.com/Politics/JU-Public-Policy-Institute/i-2RxWzqb/0/O/juppi_hesburgh.jpg)
Energy Policy: Outrageous Energy Prices is the topic of this years Hesburgh Lecture Series at Jacksonville University Public Policy Institute. The lecture is this Thursday, October 30, at 6pm.
Read More: http://www.metrojacksonville.com/article/2014-oct-ju-public-policy-institute-energy-policy-event (http://www.metrojacksonville.com/article/2014-oct-ju-public-policy-institute-energy-policy-event)
Professor of Economics, Dr. Thomas A Gresik is soon to take the podium.
Drinks are being downed and fancy finger foods are being eaten while we wait.
Dr. Frieberger, Ethics in Philosophy professor, has just walked in. He was on the drone panel discussion group with Stephen Dare, last year.
Future Drones:
http://www.metrojacksonville.com/article/2013-oct-jus-public-policy-institute-hosts-panel-on-drones/page/
(http://www.metrojacksonville.com/article/2013-oct-jus-public-policy-institute-hosts-panel-on-drones/page/)
Freiberger's JU Page:
http://www.ju.edu/philosophy/Pages/Erich-Freiberger.aspx (http://www.ju.edu/philosophy/Pages/Erich-Freiberger.aspx)
Rick Mullaney is introducing the President of JU, Tim Cost. His bio is "this guy is the king of awesome business" and "he knows public policy".
Rick Mullaney:
http://www.ju.edu/PPI/Pages/Jacksonville-University%E2%80%99s-Rick-Mullaney-tackles-political-topics-on-WJXT%E2%80%99s-%E2%80%98This-Week-in-Jacksonville%E2%80%99.aspx (http://www.ju.edu/PPI/Pages/Jacksonville-University%E2%80%99s-Rick-Mullaney-tackles-political-topics-on-WJXT%E2%80%99s-%E2%80%98This-Week-in-Jacksonville%E2%80%99.aspx)
JU seems to be in the start of a golden era, if you will, and not many people are critical of Tim Cost's leadership (I haven't heard one person be critical...I'm sure it exist somewhere). Cost seems to be universally appreciated for his work and efforts as the president of the JU.
He is at the podium now...and he is talking about JU's recent land acquisitions. They just received an 8 figure contribution by the state to the college. It doesn't hurt that the speaker of the florida house is an alumni of JU.
Whoa, the president of Pepsico is coming to JU next month. She is accepting JU's first ever global citizen award. Cost, was a higher up in the world of pepsico.
Rick is back at the podium with a self effacing joke about his lost bid for mayor ,"the people got together and said "Rick, we'd like you to move into private life."
So, tonight's lecture is part of the Hesburgh Lecture series which comes out of Notre Dame. JU PPI has partnered with the ND alumni group to extend the Hesburgh Lectures to Jacksonville. It is an annual event.
he's just in attendance. Although, he's known to take notes during these types of talks. I'm assuming he goes back to his office and writes out his thoughtful response.
Dr. Thomas A Gresik is now at the podium.
QuoteOutrageous Energy Prices
Thomas A. Gresik, Ph.D., Professor, Economics; Fellow,
Kellogg Institute for International Studies
Americans have witnessed tremendous swings in energy
prices over the last few years. How do current U.S. policies
and international events contribute to these volatile prices?
Is Congress pursuing policies that will promote stable and
affordable energy prices, while also promoting environmental
protection and energy security? This lecture explores the
many sources of our current energy situation and discusses
the likely impact of current initiatives and policy proposals
We're looking at the gas prices since 2005. From $1.75 in 2005. We leap to around $4.00 in 2008. We drop back to 1.50 in 09. Prices gradually moved up and have leveled out.
hearing between the lines with an off the cuff joke by Gresik, I think his point may be high gas prices means a more productive economy.
But he is explaining the nuances of the dips, dives and climbs right now.
Who knows, man. Those notes are not available for me to see.
He is posing the questions "why are we having such "roller coaster" like energy prices. We've moved on to Natural gas prices. Which, despite significant dives and climbs...has steadily decrease.
"We have a system under stress."
Where do the stress points come from:
The issues are global- it's not about us (united states).
Interesting, as consumption of oil by developed countries is dropping, consumption by developing countries (read china and India) is increasing. Those trajectories have converged this year.
"Dear God, please forgive me for making an assumptive statement about the quality of Dr. Freiberger's notes based on the general personality and characteristics of the man himself. " ;D
But, no, they are not published...as far as I know.
Fyi, we have 147 refineries in the usa. Some are much larger than others.
Gresik is going through how significant the refineries are on the general prices of gasoline.
The common refrain "we have not built a new refinery in our country in decades..." BUT the existing refineries have and are expanding. since 1990 refining capacity has increased by 15 percent.
Delta owns and operates a refinery! They have a dedicated source for jet fuel that protects them from price fluctuations.
gas prices throughout the country are impacted by refineries. Parts of the country that have good access to refineries (Texas) have less fluctuation and more price stability. Gas prices are dropping because of fracking.
Now, we are on to politics.
The impact of politics on markets and vice versa:
New oil leases by the federal government has dropped by more than half since 2006. We went from over 3500 new oil leases to under 1500.
It looks like the same is true for annual drilling permits. This is when oil is actually found and it's time to start drilling. in 2007 permits were just above 7,000. In 2013, a bit over 3500 permits.
Gresik, mentions that this decrease in drilling may be good or bad depending on your perspective.
Still!!! Despite the drops we are still producing more oil.
Texas is the major reason for the increase.
This is why the drops in federal permitting are happenng. Because the federal government has made it so difficult to grab a permit the negotiations are not happening on a state and county level, and a private level. Federal government in its attempt to have more oversight has lost oversight. Gresik, says, this concerns him. It opens the door to more "fly by night" operations that don't have a significant oversight.
What we need:
Support policies that promote all three energy goals...
affordable energy
environmental protection
energy independence
All three need to be pursued together, not either/or but AND.
Likely outcome?
Gresik is wrapping his talk with a story about a children's story about a red hen and beaver.
The red hen's roof is leaking and she calls the beaver and says "can you come over to fix my roof." The beaver says he'll come over when it stops raining.
The next day the sun is out and the beaver comes over and the hen says "I don't need you anymore. The roof isn't leaking." The beaver leaves.
This cycle continues...
The point is fix our energy roof now so that when it starts to rain, again, we are ready. Then he mentions the chicago cubs...maybe next year.
we've wrapped up! Thanks for joining the talk. This was another great event.
We are FLORIDA. THE SUNSHINE STATE. How many MetroJax contributors/bloggers have a solar install on their homes or businesses?