Leadership Dialogue II: Assuring Access to Clean and Competitive Energy

On this panel:

• Nisid Hajari — Director of Editorial Development, Newsweek
• Steven F. Leer — Chairman and CEO, Arch Coal, Inc.
• Kevin Parker — Global Head of Deutsche Asset Management, Deutsche Bank
• Mayo Shattuck, III — Chairman, President and CEO, Constellation Energy

The mix in the US energy supply: it's been the same for the last 30 years. There's no single silver bullet, so as we move toward a diversified portfolio, how can we encourage investments? And is there an ideal mix?

Mayo Shattuck: We need to develop competencies in all areas, especially nuclear, which is currently 20%.

Steven Leer: When you look at global growth, energy requirements are stunning. We will struggle to meet those requirements, and we'll need every energy source we can develop.

Kevin Parker: Energy producers will be forced to make all of their energy low-carbon. Markets and investors will force it that way.

Steven Leer: If other countries don't embrace this in a meaningful timeframe, it affects their competitiveness. In the US, we've seen manufacturing bases relocate when policies don't support them -- we need to make sure that our regulations make companies want to stay and develop here.

Kevin Parker: Because boundaries don't exist for capital flow, companies are going to go where they have a competitive advantage and stay there. We ignore it at our peril. Example: Germany's regulatory framework works well to encourage companies -- it's a mix of incentives and taxes to grow efficiency. And it's evolved as the country has learned how best to improve growth.

Steven Leer: there are a lot of small-scale projects already going on, and we need to work on scaling them. As an example, the carbon capture and sequestration project we mentioned here yesterday.

Kevin Parker: Regulatory uncertainty is dangerous for developing renewable technology.

Question: Nuclear power: what's the greatest hurdle?

Mayo Shattuck: Policy goal: increase nuclear's role in the American power structure.

Steven Leer: Tech advances at a different rate than consumption does. It's a challenge to stay where we are -- moving ahead of the game will take even more.

Up next: how to jumpstart energy infrastructure and manufacturing.

UPDATE: Earlier this morning, Council on Competitiveness Chairman Chad Holliday was interviewed on Clean Skies News. Here's the video.

— Sarah Spooner

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