Energy

This image is having trouble loading!FSI researchers examine the role of energy sources from regulatory, economic and societal angles. The Program on Energy and Sustainable Development (PESD) investigates how the production and consumption of energy affect human welfare and environmental quality. Professors assess natural gas and coal markets, as well as the smart energy grid and how to create effective climate policy in an imperfect world. This includes how state-owned enterprises – like oil companies – affect energy markets around the world. Regulatory barriers are examined for understanding obstacles to lowering carbon in energy services. Realistic cap and trade policies in California are studied, as is the creation of a giant coal market in China.

-

Reuben W. Hills Conference Room

Alexandre Debs Stanton Nuclear Security Fellow, CISAC Commentator
Michael Tomz Professor of Political Science, Stanford University; Senior Fellow, Stanford Center for International Development; Senior Fellow, Stanford Institute for Economic Policy Research Speaker
Seminars
-

In the year following Japan’s 3/11 triple disaster of the Tohoku earthquake, tsunami, and Fukushima nuclear incident, fundamental issues in Japan’s political economy are being debated. Potentially major restructuring of Japan’s corporate and political institutional landscape are on the horizon.

Japan’s electricity industry is on the brink of sweeping reform. Tokyo Electric Power Company (TEPCO), one of the country’s largest firms, faces potential insolvency from the decommissioning of nuclear reactors and reparations. The deregulation and creation of a new regulatory framework for Japan’s electricity markets can potentially stimulate innovation, economic growth, and entrepreneurship. Investment into smart-grids and rebuilding of the Tohoku region provide opportunities as well as risks.

Political institutions are also being reexamined. On the government side, the clear failure of governance structures is fueling a debate for restructuring administration of the power industry. The ineffective political leadership during the crisis is causing a re-examination of how politicians, bureaucrats, and firms deal with contingencies. More broadly, the 3/11 crisis has influenced political dynamics, as criticism of Prime Minister Kan’s government fueled its downfall, and the specter of this disaster will loom over political debates.

This conference brings together leading scholars, influential experts, many of whom hold key positions in the reform process, and highly informed observers of Japan’s post-3/11 adjustments.

Brief Agenda

 

Welcome: Gi-Wook Shin, Stanford University

Session I: Reforming Japan's Energy Industry: In Search of Institutional Change to Promote Innovation

Chair: Masahiko Aoki, Stanford University

Kazuhiko Toyama, Industrial Growth Platform, Inc.
Innovation of the Electric Power Industry in Japan's Post-Fukushima Era

Koichiro Ito, Stanford University
Reforming Japan's Power Industry

Discussant: Frank Wolak, Stanford University
Reforming the Japanese Power Sector: Lessons From Around the World

Lunch

Session II: Political Agendas of Japan's Energy Policy: Opportunities and Constraints

Chair: Daniel Sneider, Stanford University

Keita Nishiyama, Innovation Network of Japan
An Insider's View on Policy Processes and Policy Recommendations for the Japanese Electricity Industry

Steven Vogel, University of California, Berkeley
Japanese Politics After March 2011

Discussants:
Daniel Aldrich
, Purdue University
Phillip Lipscy, Stanford University

Session III: The Disaster's Societal Impacts and Visions Moving Forward

Chair: Michael Armacost, Stanford University

Florian Coulmas, German Institute for Japanese Studies
Japan's Societal Reaction to the Disaster

Masahiko Aoki, Stanford University
Prospects for Japan's Industrial Restructuring in the Global Perspective

Discussants:
Takeo Hoshi
, University of California, San Diego
Kenji Kushida, Stanford University

Bechtel Conference Center

Shorenstein APARC
Encina Hall E301
616 Jane Stanford Way
Stanford, CA 94305-6055
(650) 724-8480 (650) 723-6530
0
Senior Fellow at the Freeman Spogli Institute for International Studies
Professor of Sociology
William J. Perry Professor of Contemporary Korea
Professor, by Courtesy, of East Asian Languages & Cultures
Gi-Wook Shin_0.jpg PhD

Gi-Wook Shin is the William J. Perry Professor of Contemporary Korea in the Department of Sociology, senior fellow at the Freeman Spogli Institute for International Studies, and the founding director of the Korea Program at the Walter H. Shorenstein Asia-Pacific Research Center (APARC) since 2001, all at Stanford University. In May 2024, Shin also launched the Taiwan Program at APARC. He served as director of APARC for two decades (2005-2025). As a historical-comparative and political sociologist, his research has concentrated on social movements, nationalism, development, democracy, migration, and international relations.

In Summer 2023, Shin launched the Stanford Next Asia Policy Lab (SNAPL), which is a new research initiative committed to addressing emergent social, cultural, economic, and political challenges in Asia. Across four research themes– “Talent Flows and Development,” “Nationalism and Racism,” “U.S.-Asia Relations,” and “Democratic Crisis and Reform”–the lab brings scholars and students to produce interdisciplinary, problem-oriented, policy-relevant, and comparative studies and publications. Shin’s latest book, The Four Talent Giants, a comparative study of talent strategies of Japan, Australia, China, and India to be published by Stanford University Press in the summer of 2025, is an outcome of SNAPL.

Shin is also the author/editor of twenty-six books and numerous articles. His books include Korean Democracy in Crisis: The Threat of Illiberalism, Populism, and Polarization (2022); The North Korean Conundrum: Balancing Human Rights and Nuclear Security (2021); Superficial Korea (2017); Divergent Memories: Opinion Leaders and the Asia-Pacific War (2016); Global Talent: Skilled Labor as Social Capital in Korea (2015); Criminality, Collaboration, and Reconciliation: Europe and Asia Confronts the Memory of World War II (2014); New Challenges for Maturing Democracies in Korea and Taiwan (2014); History Textbooks and the Wars in Asia: Divided Memories (2011); South Korean Social Movements: From Democracy to Civil Society (2011); One Alliance, Two Lenses: U.S.-Korea Relations in a New Era (2010); Cross Currents: Regionalism and Nationalism in Northeast Asia (2007);  and Ethnic Nationalism in Korea: Genealogy, Politics, and Legacy (2006). Due to the wide popularity of his publications, many have been translated and distributed to Korean audiences. His articles have appeared in academic and policy journals, including American Journal of SociologyWorld DevelopmentComparative Studies in Society and HistoryPolitical Science QuarterlyJournal of Asian StudiesComparative EducationInternational SociologyNations and NationalismPacific AffairsAsian SurveyJournal of Democracy, and Foreign Affairs.

Shin is not only the recipient of numerous grants and fellowships, but also continues to actively raise funds for Korean/Asian studies at Stanford. He gives frequent lectures and seminars on topics ranging from Korean nationalism and politics to Korea's foreign relations, historical reconciliation in Northeast Asia, and talent strategies. He serves on councils and advisory boards in the United States and South Korea and promotes policy dialogue between the two allies. He regularly writes op-eds and gives interviews to the media in both Korean and English.

Before joining Stanford in 2001, Shin taught at the University of Iowa (1991-94) and the University of California, Los Angeles (1994-2001). After receiving his BA from Yonsei University in Korea, he was awarded his MA and PhD from the University of Washington in 1991.

Selected Multimedia

Director of the Korea Program and the Taiwan Program, Shorenstein Asia-Pacific Research Center
Date Label
Gi-Wook Shin Speaker Stanford University
0
Henri and Tomoye Takahashi Professor of Japanese Studies, Department of Economics, Emeritus
Senior Fellow at the Freeman Spogli Institute for International Studies, Emeritus
Senior Fellow at Stanford Institute for Economic Policy Research (SIEPR)
2011_MasaAoki2_Web.jpg PhD

Masahiko Aoki was the Henri and Tomoye Takahashi Professor Emeritus of Japanese Studies in the Department of Economics, and a senior fellow of the Stanford Institute of Economic Policy Research and the Freeman Spogli Institute for International Studies at Stanford University.

Aoki was a theoretical and applied economist with a strong interest in institutional and comparative issues. He specialized in the theory of institutions, corporate architecture and governance, and the Japanese and Chinese economies.

His most recent book, Corporations in Evolving Diversity: Cognition, Governance, and Institutions, based on his 2008 Clarendon Lectures, was published in 2010 by Oxford University Press. It identifies a variety of corporate architecture as diverse associational cognitive systems, and discusses their implications to corporate governance, as well their modes of interactions with society, polity, and financial markets within a unified game-theoretic perspective. His previous book, Toward a Comparative Institutional Analysis, was published in 2001 by MIT Press. This work developed a conceptual and analytical framework for integrating comparative studies of institutions in economics and other social science disciplines using game-theoretic language. Aoki's research has been also published in the leading journals in economics, including the American Economic Review, Econometrica, the Quarterly Journal of Economics, Review of Economic Studies, the Journal of Economic Literature, Industrial and Corporate Change, and the Journal of Economic Behavior and Organizations.

Aoki was the president of the International Economic Association from 2008 to 2011, and is also a former president of the Japanese Economic Association. He is a fellow of the Econometric Society and the founding editor of the Journal of Japanese and International Economies. He was awarded the Japan Academy Prize in 1990, and the sixth International Schumpeter Prize in 1998. Between 2001 and 2004, Aoki served as the president and chief research officer of the Research Institute of Economy, Trade, and Industry, an independent administrative institution specializing in public policy research in Japan.

Aoki graduated from the University of Tokyo with a B.A. and an M.A. in economics, and earned a Ph.D. in economics from the University of Minnesota in 1967. He was formerly an assistant professor at Stanford University and Harvard University and served as both an associate and full professor at the University of Kyoto before rejoining the Stanford faculty in 1984.

CV
Masahiko Aoki Speaker Stanford University
Kazuhiko Toyama Speaker Industrial Growth Platform, Inc.
Koichiro Ito Speaker Stanford University

Stanford University 
Economics Department 
579 Jane Stanford Way Stanford, CA 94305-6072 

Website: https://fawolak.org/

(650) 724-1712 (650) 724-1717
0
Senior Fellow at the Freeman Spogli Institute for International Studies
Holbrook Working Professor of Commodity Price Studies in Economics
Senior Fellow, by courtesy, at the Stanford Institute for Economic Policy Research
frank_wolak_033.jpg MS, PhD

Frank A. Wolak is a Professor in the Department of Economics at Stanford University. His fields of specialization are Industrial Organization and Econometric Theory. His recent work studies methods for introducing competition into infrastructure industries -- telecommunications, electricity, water delivery and postal delivery services -- and on assessing the impacts of these competition policies on consumer and producer welfare. He is the Chairman of the Market Surveillance Committee of the California Independent System Operator for electricity supply industry in California. He is a visiting scholar at University of California Energy Institute and a Research Associate of the National Bureau of Economic Research (NBER).

Professor Wolak received his Ph.D. and M.S. from Harvard University and his B.A. from Rice University.

Director of the Program on Energy and Sustainable Development
Date Label
Frank Wolak Speaker Stanford University

Stanford University
Encina Hall, Room E301
Stanford, CA 94305-6055

0
Lecturer in International Policy at the Ford Dorsey Master’s in International Policy
2011_Dan_Sneider_2_Web.jpg MA

Daniel C. Sneider is a lecturer in international policy at Stanford's Ford Dorsey Master’s in International Policy and a lecturer in East Asian Studies at Stanford. His own research is focused on current U.S. foreign and national security policy in Asia and on the foreign policy of Japan and Korea.  Since 2017, he has been based partly in Tokyo as a Visiting Researcher at the Canon Institute for Global Studies, where he is working on a diplomatic history of the creation and management of the U.S. security alliances with Japan and South Korea during the Cold War. Sneider contributes regularly to the leading Japanese publication Toyo Keizai as well as to the Nelson Report on Asia policy issues.

Sneider is the former Associate Director for Research at the Walter H. Shorenstein Asia-Pacific Research Center at Stanford. At Shorenstein APARC, Sneider directed the center’s Divided Memories and Reconciliation project, a comparative study of the formation of wartime historical memory in East Asia. He is the co-author of a book on wartime memory and elite opinion, Divergent Memories, from Stanford University Press. He is the co-editor, with Dr. Gi-Wook Shin, of Divided Memories: History Textbooks and the Wars in Asia, from Routledge and of Confronting Memories of World War II: European and Asian Legacies, from University of Washington Press.

Sneider was named a National Asia Research Fellow by the Woodrow Wilson International Center for Scholars and the National Bureau of Asian Research in 2010. He is the co-editor of Cross Currents: Regionalism and Nationalism in Northeast Asia, Shorenstein APARC, distributed by Brookings Institution Press, 2007; of First Drafts of Korea: The U.S. Media and Perceptions of the Last Cold War Frontier, 2009; as well as of Does South Asia Exist?: Prospects for Regional Integration, 2010. Sneider’s path-breaking study “The New Asianism: Japanese Foreign Policy under the Democratic Party of Japan” appeared in the July 2011 issue of Asia Policy. He has also contributed to other volumes, including “Strategic Abandonment: Alliance Relations in Northeast Asia in the Post-Iraq Era” in Towards Sustainable Economic and Security Relations in East Asia: U.S. and ROK Policy Options, Korea Economic Institute, 2008; “The History and Meaning of Denuclearization,” in William H. Overholt, editor, North Korea: Peace? Nuclear War?, Harvard Kennedy School of Government, 2019; and “Evolution or new Doctrine? Japanese security policy in the era of collective self-defense,” in James D.J. Brown and Jeff Kingston, eds, Japan’s Foreign Relations in Asia, Routledge, December 2017.

Sneider’s writings have appeared in many publications, including the Washington Post, the New York Times, Slate, Foreign Policy, the New Republic, National Review, the Far Eastern Economic Review, the Oriental Economist, Newsweek, Time, the International Herald Tribune, the Financial Times, and Yale Global. He is frequently cited in such publications.

Prior to coming to Stanford, Sneider was a long-time foreign correspondent. His twice-weekly column for the San Jose Mercury News looking at international issues and national security from a West Coast perspective was syndicated nationally on the Knight Ridder Tribune wire service. Previously, Sneider served as national/foreign editor of the Mercury News. From 1990 to 1994, he was the Moscow bureau chief of the Christian Science Monitor, covering the end of Soviet Communism and the collapse of the Soviet Union. From 1985 to 1990, he was Tokyo correspondent for the Monitor, covering Japan and Korea. Prior to that he was a correspondent in India, covering South and Southeast Asia. He also wrote widely on defense issues, including as a contributor and correspondent for Defense News, the national defense weekly.

Sneider has a BA in East Asian history from Columbia University and an MPA from the John F. Kennedy School of Government at Harvard University.

Daniel C. Sneider Speaker Stanford University
Keita Nishiyama Speaker Innovation Network of Japan
Steven Vogel Speaker University of California, Berkeley
Daniel Aldrich Speaker Purdue University
0
Former Thomas Rohlen Center Fellow at the Freeman Spogli Institute for International Studies
Former Assistant Professor of Political Science
phillip_lipscy_2018.jpg PhD

Phillip Y. Lipscy was the Thomas Rohlen Center Fellow at the Freeman Spogli Institute for International Studies and Assistant Professor of Political Science at Stanford University until August 2019. His fields of research include international and comparative political economy, international security, and the politics of East Asia, particularly Japan.

Lipscy’s book from Cambridge University Press, Renegotiating the World Order: Institutional Change in International Relations, examines how countries seek greater international influence by reforming or creating international organizations. His research addresses a wide range of substantive topics such as international cooperation, the politics of energy, the politics of financial crises, the use of secrecy in international policy making, and the effect of domestic politics on trade. He has also published extensively on Japanese politics and foreign policy.

Lipscy obtained his PhD in political science at Harvard University. He received his MA in international policy studies and BA in economics and political science at Stanford University. Lipscy has been affiliated with the Reischauer Institute of Japanese Studies and Weatherhead Center for International Affairs at Harvard University, the Institute of Social Science at the University of Tokyo, the Institute for Global and International Studies at George Washington University, the RAND Corporation, and the Institute for International Policy Studies.

For additional information such as C.V., publications, and working papers, please visit Phillip Lipscy's homepage.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Phillip Lipscy Speaker Stanford University
Michael H. Armacost Speaker Stanford University
Florian Coulmas Speaker German Institute for Japanese Studies
0
Former Henri H. and Tomoye Takahashi Senior Fellow in Japanese Studies at the Freeman Spogli Institute for International Studies
Former Professor, by courtesy, of Finance at the Graduate School of Business
takeo_hoshi_2018.jpg PhD

Takeo Hoshi was Henri and Tomoye Takahashi Senior Fellow at the Freeman Spogli Institute for International Studies (FSI), Professor of Finance (by courtesy) at the Graduate School of Business, and Director of the Japan Program at the Shorenstein Asia-Pacific Research Center (APARC), all at Stanford University. He served in these roles until August 2019.

Before he joined Stanford in 2012, he was Pacific Economic Cooperation Professor in International Economic Relations at the Graduate School of International Relations and Pacific Studies (IR/PS) at University of California, San Diego (UCSD), where he conducted research and taught since 1988.

Hoshi is also Visiting Scholar at Federal Reserve Bank of San Francisco, Research Associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER), and Senior Fellow at the Asian Bureau of Finance and Economic Research (ABFER). His main research interest includes corporate finance, banking, monetary policy and the Japanese economy.

He received 2015 Japanese Bankers Academic Research Promotion Foundation Award, 2011 Reischauer International Education Award of Japan Society of San Diego and Tijuana, 2006 Enjoji Jiro Memorial Prize of Nihon Keizai Shimbun-sha, and 2005 Japan Economic Association-Nakahara Prize.  His book titled Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001) co-authored with Anil Kashyap (Booth School of Business, University of Chicago) received the Nikkei Award for the Best Economics Books in 2002.  Other publications include “Will the U.S. and Europe Avoid a Lost Decade?  Lessons from Japan’s Post Crisis Experience” (Joint with Anil K Kashyap), IMF Economic Review, 2015, “Japan’s Financial Regulatory Responses to the Global Financial Crisis” (Joint with Kimie Harada, Masami Imai, Satoshi Koibuchi, and Ayako Yasuda), Journal of Financial Economic Policy, 2015, “Defying Gravity: Can Japanese sovereign debt continue to increase without a crisis?” (Joint with Takatoshi Ito) Economic Policy, 2014, “Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan” (with Anil Kashyap), Journal of Financial Economics, 2010, and “Zombie Lending and Depressed Restructuring in Japan” (Joint with Ricardo Caballero and Anil Kashyap), American Economic Review, December 2008.

Hoshi received his B.A. in Social Sciences from the University of Tokyo in 1983, and a Ph.D. in Economics from the Massachusetts Institute of Technology in 1988.

Former Director of the Japan Program at the Shorenstein Asia-Pacific Research Center
CV
Takeo Hoshi Speaker University of California, San Diego
0
Former Research Scholar, Japan Program
kenji_kushida_2.jpg MA, PhD
Kenji E. Kushida was a research scholar with the Japan Program at the Walter H. Shorenstein Asia-Pacific Research Center from 2014 through January 2022. Prior to that at APARC, he was a Takahashi Research Associate in Japanese Studies (2011-14) and a Shorenstein Postdoctoral Fellow (2010-11).
 
Kushida’s research and projects are focused on the following streams: 1) how politics and regulations shape the development and diffusion of Information Technology such as AI; 2) institutional underpinnings of the Silicon Valley ecosystem, 2) Japan's transforming political economy, 3) Japan's startup ecosystem, 4) the role of foreign multinational firms in Japan, 4) Japan's Fukushima nuclear disaster. He spearheaded the Silicon Valley - New Japan project that brought together large Japanese firms and the Silicon Valley ecosystem.

He has published several books and numerous articles in each of these streams, including “The Politics of Commoditization in Global ICT Industries,” “Japan’s Startup Ecosystem,” "How Politics and Market Dynamics Trapped Innovations in Japan’s Domestic 'Galapagos' Telecommunications Sector," “Cloud Computing: From Scarcity to Abundance,” and others. His latest business book in Japanese is “The Algorithmic Revolution’s Disruption: a Silicon Valley Vantage on IoT, Fintech, Cloud, and AI” (Asahi Shimbun Shuppan 2016).

Kushida has appeared in media including The New York Times, Washington Post, Nihon Keizai Shimbun, Nikkei Business, Diamond Harvard Business Review, NHK, PBS NewsHour, and NPR. He is also a trustee of the Japan ICU Foundation, alumni of the Trilateral Commission David Rockefeller Fellows, and a member of the Mansfield Foundation Network for the Future. Kushida has written two general audience books in Japanese, entitled Biculturalism and the Japanese: Beyond English Linguistic Capabilities (Chuko Shinsho, 2006) and International Schools, an Introduction (Fusosha, 2008).

Kushida holds a PhD in political science from the University of California, Berkeley. He received his MA in East Asian Studies and BAs in economics and East Asian Studies with Honors, all from Stanford University.
Kenji E. Kushida Speaker Stanford University
Conferences
Authors
News Type
News
Date
Paragraphs

More than 100 delegates gathered in Taipei on December 14th to attend the 2011 ITRI-SPRIE Forum on “Interdisciplinary Collaboration for Smart Green Innovation”, jointly organized by Industrial Technology Research Institute (ITRI) and the Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE). Industrial Economics & Knowledge Center (IEK) of ITRI and SPRIE have collaborated since 2004 to conduct research and convene policymakers, executives and researchers at international forums in Taipei, Beijing, and at Stanford creating a platform between Taiwan, mainland China, and Silicon Valley to advance innovation and economic growth.

Focusing on strategies for commercialization of green technologies, the one-day Forum, sponsored by Taiwan’s Department of Industrial Technology (DoIT) at Ministry of Economic Affairs (MOEA), attracted a crowd of senior executives of large enterprises and clean-energy startups in Taiwan, local government officials, think-tank experts and academics from local research institutions and universities. The discussion included the importance of information technologies in reducing carbon emissions and the opportunities this presented to Taiwan given its strengths in IT.

The event follows SPRIE’s international forum on Innovation Beyond Boundaries: Partnerships for Advancing Smart, Green Living, held on June 29th and 30th, 2011 at Stanford University.

Executive Yuan Minister without Portfolio Jin-fu Chang opened the Forum at Taipei International Convention Center. The keynote address was delivered by Professor Dan Reicher, executive director of Stanford University’s Steyer-Taylor Center for Energy Policy and Finance, former Department of Energy assistant secretary under the Clinton administration and member of President Obama's transition team. In his keynote presentation entitled “Clean Energy: The Intersection of Technology, Policy and Finance”, Professor Reicher pointed out the importance of government support of energy technology commercialization, including new financial models for technology application and smart standards for energy efficiency.

The invitation-only morning panel discussion, chaired by MOEA Vice Minister Jung-Chiou Huang, covered a range of issues, including public-private partnerships for technology innovation and market applications, policies to boost smart green innovative competitiveness, and central/local collaboration schemes to achieve smart green city and industry development.

During the afternoon session open to the public, Stephen Su, General Director of IEK, argued that Taiwan holds enormous potential to become an innovation base for smart green technologies, with its strong foundation in the ICT industry and advanced supply chain management. He noted this could be a new potential industry for Taiwan and Silicon Valley to collaborate after the semiconductor industry to extend the advantages of regional competitiveness.

SPRIE faculty co-directors William F. Miller and Henry S. Rowen also shared their views and experience on public-private partnerships for green growth and strategies for innovation at the Forum.

The Forum concluded that transferring technologies to industry for society’s use and benefit is in the common interest of government, research institutions and enterprises. It will also continue to act as the engine of knowledge-based economies and innovative growth. Low-carbon economic development will rely on integration of interdisciplinary innovation, and the implementation of technology commercialization, in order to amplify the benefit of R & D investment.

Major Taiwan media outlets such as the United Daily News, Central News Agency and Mechanical Tech. Magazine all covered the event.

All News button
1
Paragraphs

National oil companies (NOCs) produce most of the world’s oil and natural gas and bankroll governments across the globe. Although NOCs superficially resemble private-sector companies, they often behave in very different ways. To understand these pivotal state-owned enterprises and the long shadow they cast on world energy markets, the Program on Energy and Sustainable Development (PESD) at Stanford University commissioned Oil and Governance: State-owned Enterprises and the World Energy Supply. The 1000-page volume, edited by David Victor, David Hults, and Mark Thurber, explains the variation in the performance and strategy of NOCs, and provides fresh insights into the future of the oil industry as well as the politics of the oil-rich countries where NOCs dominate. It comprises fifteen case studies, each following a common research design, of NOCs based in the Middle East, Africa, Asia, Latin America, and Europe. The book also includes cross-cutting pieces on the industrial structure of the oil industry and the politics and administration of NOCs.

NOCs are distinguished from private companies by their need to respond to state goals beyond profit maximization. Governments seeking to retain their hold on power use NOCs to deliver benefits to influential elites (“private goods”) or to the broader population (“social goods”). Oil and Governance finds a strong correlation between such non-hydrocarbon burdens on the NOC—which include providing employment, subsidizing fuel, or handing out plum jobs to the politically connected—and deficiencies in oil and gas performance. The highest-performing NOCs, like Norway’s Statoil and Brazil’s Petrobras, face relatively circumscribed non-oil demands from their governments.

How governments administer their oil sectors also proves to be a crucial determinant of NOC performance. Democracies (e.g., Norway, Brazil) and autocracies (e.g., Saudi Arabia, Angola) alike are capable of grooming successful NOCs. What matters most for outcomes is not regime type per se but rather that governance systems provide unified signals to the NOC. (By contrast, regime type is observed to be an important driver of whether governments nationalize their oil sectors in the first place, or privatize existing NOCs.) Fragmented governance, in which multiple government actors assert their interests but no one assumes strategic responsibility, appears uniformly fatal to NOC performance. Nascent democracies like Mexico’s can be particularly vulnerable to oil sector dysfunction stemming from fragmentation. Governance systems must also be matched to a country’s institutional and political realities. Nigeria has arguably set back its progress in oil through attempts to slavishly imitate Norway’s forms of oil organization in the absence of Norway’s mature political and civil service institutions.

The close ties between the NOC and its government can have a detrimental effect on the ability of the NOC to manage the risks that are so characteristic of the oil and gas industry. Whereas private companies are forced to hone their geological knowledge and skills through global competition for capital and hydrocarbon licenses, NOCs for the most part are comfortably sheltered from competitive threats at home. They therefore fail to develop the global reach that helps private players (the international oil companies, or IOCs) manage risk by means of a diversified global portfolio and the ability to link resources to customers around the world. (Some NOCs have begun to internationalize in recent years, but it is striking that none of the NOCs studied in Oil and Governance went down this path until forced to by domestic resource scarcity, or at least of the perception of future scarcity.) The soft budget constraint faced by the NOC also discourages the cost efficiencies that help mitigate risk.

This gulf in risk management capabilities between IOCs and most NOCs suggests that the resource dominance of NOCs does not pose an existential threat to private oil companies. Private players will continue to play a key role in the frontiers of oil and gas development—frontiers like shale gas, oil sands, and the remote Arctic. NOCs will continue to control low-cost oil around the world, while a select few of the most focused and unencumbered among them start to build up their own risk management skills through partnerships with IOCs.

NOC control over resources has important implications for the world oil price. The NOCs studied in the book produce their reserves at half the rate of the major IOCs—whether due to lower performance or a deliberate attempt to preserve resources for the future. Moreover, governments tend to rely most heavily on the risk management skills of IOCs when prices are low and then swing back towards NOCs in high price periods when they can afford to focus on delivering benefits to favored constituencies. The result of this dynamic, which is observed in the case studies of Oil and Governance, can be “backward bending supply curves” that exaggerate price volatility in the world oil market.

This effect of NOCs on global oil supply and price appears to be much more important than any geopolitical fallout from NOC primacy around the world. Oil and Governance finds very little evidence that NOCs act as effective foreign policy weapons on behalf of their host states. Even where politicians may desire to employ NOCs in this way, the incentives of the NOC itself are usually strongly opposed to such an exercise of power. As one example, Europe’s Gazprom depends overwhelmingly on revenues from gas exports to Europe because gas is so heavily subsidized in Russia. When NOCs do venture abroad, as in the case of China’s CNPC, they are often motivated to do so precisely by the desire to achieve more autonomy from their political masters at home.

All Publications button
1
Publication Type
Books
Publication Date
Journal Publisher
Cambridge University Press
Authors
David G. Victor
David Hults
Mark C. Thurber
Paragraphs

Objective: To study when and how an urgent public health message about a boil-water order reached an urban population after the Massachusetts water main break. Methods: In-person surveys were conducted in waiting areas of clinics and emergency departments at a large urban safety net hospital within 1 week of the event. Results: Of 533 respondents, 97% were aware of the order; 34% of those who lived in affected cities or towns were potentially exposed to contaminated water. Among those who were aware, 98% took action. Respondents first received the message through word of mouth (33%), television (25%), cellular telephone calls (20%), landline calls (10%), and other modes of communication (12%). In multivariate analyses, foreign-born respondents and those who lived outside the city of Boston had a higher risk of exposure to contaminated water. New modes (eg, cellular telephones) were used more commonly by females and younger individuals (ages 18 to 34). Individuals who did not speak English at home were more likely to receive the message through their personal networks. Conclusions: Given the increasing prevalence of cellular telephone use, public officials should encourage residents to register landline and cellular telephone for emergency alerts and must develop creative ways to reach immigrants and non-English-speaking groups quickly via personal networks. (Disaster Med Public Health Preparedness. 2011;5:235-241)

All Publications button
1
Publication Type
Journal Articles
Publication Date
Journal Publisher
Disaster Medicine and Public Health Preparedness
Authors
C. Jason Wang
Paragraphs

Abstract (provisional)

Objective

Few studies have examined the link between health system strength and important public health outcomes across nations. We examined the association between health system indicators and mortality rates.

Methods

We used mixed effects linear regression models to investigate the strength of association between outcome and explanatory variables, while accounting for geographic clustering of countries. We modelled infant mortality rate (IMR), child mortality rate (CMR), and maternal mortality rate (MMR) using 13 explanatory variables as outlined by the World Health Organization.

Results

Significant protective health system determinants related to IMR included higher physician density (adjusted rate ratio [aRR] 0.81; 95% Confidence Interval [CI] 0.71-0.91), higher sustainable access to water and sanitation (aRR 0.85; 95% CI 0.78- 0.93), and having a less corrupt government (aRR 0.57; 95% CI 0.40- 0.80). Out-of-pocket expenditures on health (aRR 1.29; 95% CI 1.03- 1.62) were a risk factor. The same four variables were significantly related to CMR after controlling for other variables. Protective determinants of MMR included access to water and sanitation (aRR 0.88; 95% CI 0.82- 0.94), having a less corrupt government (aRR 0.49; 95%; CI 0.36- 0.66), and higher total expenditures on health per capita (aRR 0.84; 95% CI 0.7 0.92). Higher fertility rates (aRR 2.85; 95% CI: 2.02- 4.00) were found to be a significant risk factor for MMR.

Conclusion

Several key measures of a health system predict mortality in infants, children, and maternal mortality rates at the national level. Improving access to water and sanitation and reducing corruption within the health sector should become priorities.

The complete article is available as a provisional PDF. The fully formatted PDF and HTML versions are in production.

 
All Publications button
1
Publication Type
Journal Articles
Publication Date
Journal Publisher
Globalization and Health
Authors
Eran Bendavid
Paragraphs

China’s annual coal production, at 3.24 billion tonnes (Gt) in 2010, accounted for nearly half of the global total.  In this comprehensive analysis of China’s coal value chain, Jianjun Tu examines the industrial organization and structure of China’s coal production, transport, and consumption.  Tu’s study shines a light on one of the world’s largest and most complex energy markets and should be read by anyone with an interest in the future of coal, climate change, or global energy markets.

Key topics covered include:

  • Review of China’s Coal Industry Policy
  • Coal Supply: Resources, Reserves, and Production
    • Industry Structure and Organization
    • Production Costs
    • The Role of Government
  • Coal Demand: Overview of Coal Consumption in China
    • Power Generation
    • Iron and Steel Industries
    • Chemicals
    • The Role of Government
  • Coal Transport: Rail, Sea, River and Road Transport Networks
  • Coal Grey Markets: the Untold Story of China’s “Unofficial” Coal Market
All Publications button
1
Publication Type
Working Papers
Publication Date
Journal Publisher
Program on Energy and Sustainable Development
Authors
Subscribe to Energy