Occasional Papers

ICEED’s occasional papers series provides timely works by leaders in the fields of energy and the environment. Topics include the development of alternative energy, geopolitics, energy supply security, and environmental trends. Contact us to request copies.

Reinventing the West: The Role of Its Natural Resources in the 21st Century

By J. C. Whorton, Jr. and John Whorton.

Energy Revolution Offers Return of 20th Century U.S. Strategic Weapon: Spare Production Capacity

By William Murray.

When Genius Continues to Fail: What We Didn’t Learn from Penn Square Bank, Enron, and Chesapeake Energy

This paper compares three case studies—Penn Square Bank, Enron, and Chesapeake Energy— in which lapses in corporate governance between senior management and the best interests of the major stakeholders occurred.  Penn Square Bank was a privately held bank federally regulated by the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC).  Enron Corporation was a high-profile publicly traded corporation with very visible controls, policies, and procedures in place while key employees committed fraud and criminal acts to circumvent public transparency in reporting.  While both Penn Square Bank and Enron are now insolvent entities, Chesapeake Energy Corporation is a going concern but it has serious corporate governance and financial issues that must be addressed to ensure its future viability.  In particular, this article highlights the governance challenges that Chesapeake faces, which are similar to other public companies that are run by the original founders and managed and governed as though they were still privately-held enterprises with little or no accountability. As the authors examine these three examples over the last 30 years each is irrefutable proof that the more things change, the more they stay the same; leading them to question, why does it always seem that every lesson must be relearned by a new generation?

If Not Now, When? Addressing Oil Shale’s Contribution to Climate Change in the Midst of the U.S. Production Boom

This article discusses the regulation of oil shale in the Green River Formation, arguing that analyses of the relationship between its development and climate change, conducted pursuant to the National Environmental Policy Act (NEPA), have not provided a meaningful discussion of related greenhouse gas emissions and how they may be mitigated.  The first part of this article provides an overview of oil shale and its effects on the environment and documents Canada’s experience becoming a major producer of unconventional fuels.  Part II discusses how policy makers weigh considerations of climate change into NEPA analyses.  Part III examines how the Bureau of Land Management (BLM) has addressed climate change in the process of opening federal lands within the Green River Formation for application for leasing for oil shale development.  Part IV provides a critical analysis of this process and outlines options for mitigating the impacts of oil shale development upon the climate that the BLM has not considered.  The fifth section concludes by arguing that a thorough discussion of the contributions major energy-related initiatives will have upon the climate is needed prior to these initiatives’ implementation.

Unsold Solar: A Post-Mortem of Papua New Guinea’s Teacher’s Solar Lighting Project

Papua New Guinea’s electrification rate positions the country among the lowest in the world.  Given its overall low population density, household income levels, and geophysical barriers, energy access is unlikely to be greatly expanded through grid extension in the near future.  Renewable energy technologies present an alternative solution and have been promoted through various donor-driven efforts in recent years.  One such example is the World Bank-assisted Teachers Solar Lighting Project, scheduled for implementation from 2005-2010, which aimed to sell 2,500 solar home lighting kits to out-posted school teachers while also supporting the growth of local, renewable energy industries.  The project was terminated before its target end-date and only one solar kit was sold.  To understand this apparent failure, we review the project by drawing from in-country fieldwork conducted in March 2010 and semi-structured research interviews held with representatives from the implementing agencies, relevant public and private sector bodies, and school teachers targeted for participation.  In addition to the traditional techno-economic barriers that impeded diffusion of renewable energy, we posit that social and cultural factors were also significant barriers.

Solar as an Economic Development Tool in American Indian Country

Compliance in a New Era of Energy Market Manipulation Oversight

Biofuels in Africa: A Pathway to Development?

The New Green Business Model for Investment

Latin American Geopolitics vs. Energy Patterns: Ideology, Energy, Production Sustainability, and U.S. Security

Crop Circles in the Desert: The Strange Controversy over Saudi Oil Production

Hedge Funds Change Energy Trading

Oil Supply Security 2004

Oil and the Iraq War of 2003

GreenTradingTM: The Next Financial Market

Hedging Government Oil Price Risk

Lessons from California’s Electricity Crisis

Energy/Telecommunications Convergence: The Formation and Integration of a New Value Chain

Energy E-Commerce

Doing Well by Doing Good? Oil Industry Responses to Kyoto

Facing the Elephant: Oil Market Evolution and Future Oil Crises

“The Iranian Connection”: The Geo-Economics of Exporting Central Asian Energy via Iran

Economic Implications of Electric Utility Restructuring in California

U.S. Electricity Deregulation: Impacts on Gas and Commodity Markets

The Diseconomics of Long-Haul LNG Trading

Commoditization of Electric Power Markets

The Changing Structure of World Oil Markets and OPEC’s Financial Needs

Environmental Change: Oil Trading and Risk-Management Implications

Interdependence between the Asia-Pacific and the Middle East

Exchange of Futures for Physicals: New Market Opportunities for North America

A New Source of Project Finance Capital through Energy Derivatives

Indicators of Crude-Oil Production Costs: The Gulf versus Non-OPEC Sources

U.S. Environmental Imperatives and the Accelerated Export of Refining Capacity

Opportunities for Energy Investment in Russia and the Republics in the 1990s

Pacific Rim Energy Demand and Capital Requirements in the 1990s

The Decade of the “Oil Deal”

Financial Innovation and Upstream Petroleum Development

A War for Oil? Energy Issues and the Gulf War of 1991

The U.S. Natural Gas Market in the 1990s

Canadian Control on Natural Gas Exports: Recent Developments

The Geopolitics of Oil in the Middle East: An Overview

World Energy Outlook to the 21st Century

#8: Interenergy Competition in Natural Gas Price Formation: Case of the U.S. Since Deregulation

OPEC and Non-OPEC Relations

The End of the Trend: Limited Opportunities to Slow Reintegration

Changing Energy Prices and Colorado Industry

The Gulf, Integration, and OPEC: Overseas Downstream Activities

The Development of Canadian Controls on Natural Gas Exports

The Future of Oil: Managing Risk & Uncertainty

Saudi Oil Policy and the Changing World Energy Balance