Energy Industry Braces For Slower Growth In 2013

The first Total Energy USA conference wraps up today at the George R. Brown Convention Center.

The aim of Total Energy USA is to develop broad-based solutions to the world’s energy needs.  Day two included sessions ranging from national security to deriving industrial energy from food wastes.

Nathaniel Karp, chief economist for BBVA Compass, addressed a panel on financial planning for energy companies.  Karp laid out the main economic challenges facing the industry.

“Next year, particularly, it’s going to focus on what’s going on in Europe, how Europe solves the crisis that they’re in right now. There’s also, obviously, the fiscal cliff in the U.S., and the slowdown in the emerging markets, particularly in China, and sort of the global geopolitical risks in the Middle East.”

Karp also cited a longer-term challenge the industry must meet. Over the next 25 years, he said, the world will need an additional $40 trillion worth of investment in infrastructure to keep up with the demand for energy.



Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined News 88.7 in January 2011. Since arriving in Houston, he has reported on the many changes wrought on the region’s economy by the revolution in domestic oil and gas production. His non-energy reporting runs the gamut from white-collar crime to cattle ranching. His work has aired on...

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