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2014 News Items

April 2014

The award winners are Dr Ibrahim Ibrahim (lifetime achievement for the advancement of the Qatar energy industry), Dr Adnan Shihab-Eldin (lifetime achievement awards for advancement of Organisation of Petroleum Exporting Countries), Nobuo Tanaka (lifetime award for advancement of producer-consumer dialogue), Prof Tan Chorh Chuan (lifetime award for advancement of education for future energy leaders), Walid Khadduri (lifetime award for the advancement of international energy journalism) and Dr Rilwanu Lukman (lifetime award for advancement of the international energy policy).

In an interview with CNBC, CGEP Inaugural Fellow David Sandalow discusses both short- and long-term approaches to reducing European reliance on Russian energy supplies.

The shift from dependency toward self-sufficiency came extraordinarily fast, says Jason Bordoff, director of Columbia University's Center on Global Energy Policy and a former senior energy adviser to President Obama. A few years ago, the U.S. was expecting to be dependent on natural gas imports from countries such as Qatar. In early 2010, Bordoff says, the administration began to grasp the implications of the oil and gas boom as a result of fracking, the controversial method of pumping water and chemicals deep into shale deposits to release oil and natural gas. "This is a really historic opportunity for the country to dramatically reduce our dependence on energy imports and increase economic activity," Bordoff says, though he adds that the U.S. is still learning and understanding what impact it has on foreign policy and diplomacy. "But I do think the U.S. is engaging diplomatically from a position of greater strength now."

At a discussion on post-Fukushima energy policy of Japan and the role of nuclear power at Columbia University, former International Energy Agency executive director Nobuo Tanaka outlined Japan's journey back to nuclear power and its potential to become the world leader on new nuclear technology. Tanaka, a distinguished fellow of Columbia's Center for Global Energy Policy, explained that the nuclear accident in Fukushima was completely avoidable and attributed the root cause to human error.

“Over the last decade, our refining system spent billions of dollars to invest in heavy coking capacity and other capabilities to take more heavy oil, the kind you import from Venezuela and Canada,” says Jason Bordoff, former senior energy adviser to the White House and a public affairs professor at Columbia University. “A decade ago, that’s what everybody thought that we’d be doing. But suddenly, the world looks quite different – the U.S. is producing millions more barrels of oil a day, and all of that growth has come in the form of light, sweet crude production.”

March 2014

The U.S. could intervene in other ways, but they are “admittedly minimal” in the near term, according to Jason Bordoff, the Director of Center on Global Energy Policy at Columbia University and a former White House aide on energy and climate change. Bordoff said Ukraine has four or five months of energy in storage, and in the meantime, Poland and Hungary, whose ambassadors have lobbied Congress for LNG permit reforms, could begin the process of reversing the flow of pipelines into Ukraine.

“It is important to remember that it is a mutually dependent relationship,” Bordoff said. “While that exists as threat, it is probably not in Russia’s interest to cut off supply.”

"The order clearly explains how the administration believes U.S. LNG exports can lead to enhanced diversity of supply in global gas markets that would undermine the leverage of monopoly suppliers like Russia," said Jason Bordoff, director at the Center on Global Energy Policy at Columbia University.

"People may not know how much they're paying for electricity but gasoline prices are displayed in 3-feet high letters. These prices are sensitive signals in the economy," says Jason Bordoff, director of the Center on Global Energy Policy at Columbia University and a senior White House energy advisor until late 2012. "As a society, and as policy makers, people are trying to understand what the impacts (of exports) will be," he added.

The combination of hydraulic fracturing and horizontal drilling to unlock gas and oil reserves in U.S. shale has put the country back on course to be one of the world’s largest oil producers, reshaping everything from its geopolitical relationship with Russia to the GDP of oil-producing states. In a special edition of Bloomberg Brief, Center Director Jason Bordoff and others contribute their unique insights on how the shale revolution is affecting the U.S. economy, geopolitics and energy policy.

"The cost of LNG plants is enormous," said Jason Bordoff, the director of Columbia University's Center on Global Energy Policy and formerly a member of President Obama's National Security Council. Cheniere has some financing in place. Others are still lining up customers and financing, "not because the government's standing in the way, but because it's hard to pull together an $8 [billion] or $10 billion project," Bordoff added.