Rice U. expert available to comment on presidential election’s impact on energy industry
HOUSTON – (Nov. 7, 2016) – Energy was not a prominent point in the presidential debates because it is not a big concern for voters outside the oil- and gas-producing states, according to an expert at Rice University’s Jones Graduate School of Business.
Bill Arnold, professor in the practice of energy management at Rice Business and a former energy industry executive, is available to comment on energy issues at play on the eve of Election Day and the future policy and industry outlook.
“High gasoline prices and shortages trigger popular outcry and generate political interest,” Arnold said. “With low-cost natural gas and gasoline — as well as home-heating oil in the Northeast — and no supply problems, energy gets little attention. Energy-producing states get little sympathy from the rest of the country.”
Arnold said the United States doesn’t have a comprehensive energy policy. “Instead, we have ad hoc measures, executive orders, regulation and more action at the state and local level — both for fracking and renewables — than in Washington, D.C. This will probably continue.”
However, market forces have a bigger impact on energy investment than government policy, Arnold said, and the immediate availability of perhaps $100 billion in capital for the industry from private equity and institutional sources provides the opportunity for recovery for the energy industry hit by low oil prices. “This is in contrast to the 1986 crash in oil prices that lasted almost 20 years,” he said. “Then, regional banks, which financed the industry almost exclusively, failed along with the energy companies.”
To schedule an interview with Arnold, contact Jeff Falk, associate director of national media relations at Rice, at email@example.com or 713-348-6775.
Rice University has a VideoLink ReadyCam TV interview studio. ReadyCam is capable of transmitting broadcast-quality standard-definition and high-definition video directly to all news media organizations around the world 24/7.
For more information about and insights from Rice Business faculty research, visit the school’s Rice Business Wisdom website, http://ricebusinesswisdom.com.
Follow Rice Business on Twitter @Rice_Biz.
Follow Rice News and Media Relations on Twitter @RiceUNews.
Arnold bio: http://business.rice.edu/person/william-m-arnold.
Jones Graduate School of Business: http://business.rice.edu.