Tuesday, December 05, 2006

How Houston can stay Energy Capital of the World

It's late, so just a quick pass-along tonight. A presentation (PPT, PDF) by Matt Simmons that, at the end, points out how Houston can stay the world's energy capital as new technologies grow over the coming years. My own opinion is that, while it's probably unrealistic to expect our existing set of oil & gas companies to obsolete their own asset base with alternative energy R&D (just as Kodak had to be dragged into digital photography even though they essentially invented it), I think it is reasonable to expect them to monitor the market, buy up small promising energy technology companies and run them from Houston, maintaining our status - just as the big pharma companies do with new drugs. Innovation can happen anywhere (including, hopefully, here), but the big infrastructure companies that commercialize, produce, distribute, and market energy - of any kind - need to definitely stay here if we value our economic future.


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