AUEB iMBA Energy & Sustainability Club, the 1st energy club in Greece, continues to build bridges around the world; this time in United States of America, striving to exchange ideas about cutting-edge research and discuss the current trends in energy, environment and sustainable development fields.
Visit to Stanford University
In addition, on Monday 11th of February 2013, AUEB Energy & Sustainability Club visited Stanford University at San Francisco, California, having executive meetings with professors and directors of energy and environment institutes.
Mr. Sarantopoulos had the unique chance to meet Mr. Frank Wolak, Holbrook Professor of Commodity Price Studies in the Department of Economics at Stanford University (http://pesd.stanford.edu/people/Frank_Wolak/). Mr. Frank Wolak is Director of Energy & Sustainable Development Program, Chairman of the Market Surveillance Committee of the California Independent System Operator for electricity supply industry in California and a Research Associate of the National Bureau of Economic Research (NBER). Mr. Wolak expressed his keen interest regarding the energy developments in Greece and Europe admitting the strong connection between the energy markets in the global scene. He was very interested in hearing about the undergoing transformation of European electricity and natural gas markets towards the implementation of the 3rd Energy Package (http://ec.europa.eu/energy/gas_electricity/legislation/legislation_en.htm).
Prof. F. Wolak said that USA is facing the great challenge of “shale gas revolution” having undergone an extreme boom of this sector during the last years. Natural gas resources exploitation and energy markets efficiency regulation will be two of the major “battlefields” of the near future. Finally, he was impressed with the initiative of AUEB Energy & Sustainability Club, since it is the only active business school energy think tank in Greece and expressed his eagerness to establish a fruitful collaboration in both research and consulting fields.
Afterwards, Mr. Sarantopoulos met Dr. Hill Huntington, Executive Director – Energy Modeling Forum (http://emf.stanford.edu/) at Stanford University (http://engineering.stanford.edu/profile/hillh), Senior Fellow and Past-President of the US Association for Energy Economics and a member of the National Petroleum Council. Initially, Dr. Huntington described briefly the new developments in oil and gas sector both in U.S.A. and globally. He expressed his interest about the Deutsche Bank announcement of the potential Greek natural gas reserves of 3.5 trillion m3 and he asserted that petroleum sector is going to have a great potential in next years. Finally, Mr. Huntington congratulated the iMBA students for their initiative and their persistence to innovation.
The last meeting in Stanford University took place with Mr. Amit Desai, VP of Stanford Energy Club (http://energyclub.stanford.edu/). Mr. Desai explained the structure and the main activities of their club and he concluded that there is room for close collaboration between energy clubs around the world since the energy challenges are more or less the same in all developed countries. AUEB iMBA Energy & Sustainability Club, being a member of Collegiate Energy Association interacts with numerous universities in Europe and all over the world, aiming at knowledge exchange and further collaboration in the research field. Mr. Desai wished to continue this communication in the future preparing common panel discussion for globally debated energy topics.
Mr. Sarantopoulos, during his meetings in both universities, stressed the importance of energy public policy, especially in times of crisis, through the development of appropriate legislation, regulations, decisions, plans, and actions to guide energy advance. Today, energy policy, particularly in Europe, is driven by concern about climate change along with the protection of consumers against high energy prices. We need to build the best framework in order the achievement of economic growth to be more feasible and sustainable. The governments and policy makers throughout the world need to plan carefully (paying much attention to project financing) the future shape of energy sector and the future technologies – fuel mixes they are going to use.
iMBA Energy & Sustainability Club (www.imbaenergyclub.gr), the 1st energy club in Greece, will continue to build bridges around the world, to exchange ideas about cutting-edge research and to inform its members about the current trends in energy, environment and sustainable development issues.