BUEC 563 – E NERGY I NDUSTRIES AND M ARKETS : S YLLABUS
Instructor: Richard Dixon Email: [email protected] Phone: (780) 248-1650
Prerequisite: BUEC 502 – Managerial Microeconomics (or equivalent) COURSE OBJECTIVES
This introductory course is an overview to the resource and energy industries and markets. Students gain a basic understanding of the evolving nature and structure of energy industries and markets, including market, technological, environmental and other strategic issues.
Second, there is a strong emphasis on students' proficiency levels in verbal and written business communication. Of particular interest is the ability to do and convey critical analysis and thinking in a variety of business formats (e.g. briefing note, strategic scenarios, executive summary, oral presentation, etc.).
LEARNING GOALS
Critical Thinking
Students will be exposed to current issues and ideas concerning energy and its development in the 21st Century and this will help to develop their ability to analyze problems, situations and issues in a clear- minded, rigorous intellectual manner. At the end of the course the student will have more tools to critically think about current energy issues.
Energy Sector Basics
Students will enhance and develop a better understanding and awareness of the energy community and its basics from an economics, management and business perspectives.
Practical Experience
Students will have the opportunity to experience first-hand key segments of the energy industry and understand a wider overview of energy economic theory applied to actual business situations in the energy world.
Communication Skills - Oral and Written
Students will have the opportunity to present to the rest of the class and participate with others.
COURSE MATERIALS
The instructor’s power point presentations for each topic will be posted on the course website. The power point presentations include web links to sites with current information on the topics to be addressed in the course.
From time-to-time materials will be distributed to the students free of charge during class however expect an extensive use of internet accessed materials (sample list below) including:
1. Canadian Energy Research Institute, Economic Impacts of the Petroleum Industry in Canada, 2009
2. Downey, Morgan, Oil 101
3. Canadian Energy Research Institute, The Impacts of Canadian Oil Sands Development on the United States’ Economy, 2009
4. Canadian Energy Research Institute, The Eye of the Beholder: Oil Sands Calamity or Golden Opportunity? 2009
5. Department of Business Innovation & Skills - Foresight
6. International Energy Agency, World Energy Outlook 2010, Oil Information 2011, Gas Information 2011, Renewable Information 2011, Coal Information 2011, Electricity Information 2011, 7. Other OECD including Energy
8. Shell’s Energy Scenarios to 2050, Signals and Signposts, and Scenarios: An Explorer’s Guide 9. US Energy Information Administration including Energy in Brief series
10. Also Alberta Departments of Energy, Environment and Sustainable Resource Development including the Energy Resources Conservation Board, and the Alberta Utilities Commission 11. Federal Departments of Natural Resources Canada
12. IHS CERA – Canadian Oil Sands Energy Dialogue Reports and Studies (on line form needs to be filled out)
a. Special Report: The Role of the Canadian Oil Sands in the US Market: Energy Security, Changing Supply Trends, and the Keystone XL Pipeline, June 2011
b. Special Report: Oil Sands, Greenhouse Gases, and European Oil Supply: Getting the Numbers Right, April 2011
c. Special Report: Canadian Oil Sands Face US GHG Policy Uncertainty, April 2011 d. Special Report: Oil Sands Technology: Past, Present, and Future, January 2011
e. Special Report: Oil Sands, Greenhouse Gases, and US Oil Supply: Getting the Numbers Right, September 2010
Also available are Frequently Asked Questions on this Special Report f. Special Report: The Role of Canadian Oil Sands in US Oil Supply, April 2010
g. Multi client Study: Growth in the Canadian Oil Sands: Finding the New Balance, May 2009 h. Frequently Asked Questions (FAQ) on IHS CERA's Oil Sands, Greenhouse Gases, and US Oil Supply:
Getting the Numbers Right?
13. While not mandatory it is strongly recommended that students subscribe to https://twitter.com/#!/CABREE_Alberta and to the NRE list server
http://www.mailman.srv.ualberta.ca/mailman/listinfo/mba-nre . Various blogs will also be recommended including http://andrewleach.ca/
14. http://guides.library.ualberta.ca/business-energyEnergy site at the Winspear Library 15. Oil Sands Research and Information Network (OSRIN) http://www.osrin.ualberta.ca/en.aspx
GRADING and ASSIGNMENTS
Written assignments
All assignments must include the student’s name, ID number and Class section and are due in electronic form the day that they are due. Assignments without complete ID information will not be graded. There is a penalty of 5% / day reduction for late assignments. Preference is for Arial 11. The different elements evaluated during the course will be summed to a total of 100%, as follows:
Class attendance, Participation, Site Visits, Case Competition and Challenge Questions: 40%
Attendance is compulsory.
Preparation, attendance, and positive contribution to classes together define participation.
Unexcused absence can result in a failing mark for the course. There are several class exercises that need active participation.
In particular this most often demonstrated through the challenge question. Answers are submitted in hardcopy, usually in point or bullet form, and are usually no more than two pages in length.
During the last class there will be an internal case competition among students.
Term papers: 60%
Students are required to submit two fifteen page papers (fifteen pages of text, not including cover page, executive summary, table of contents, figures, graphs, charts and references). Each paper will count for 30% of the course grade. Penalty for a late paper is 5% for each day that the paper is late.
First paper: includes the development of four scenarios on a particular aspect of one of the energy sectors studied in the course. You are free to choose the topic. Students can work in teams of up to 4 people however the same grade is awarded to each member of a team. Students will also prepare and present a draft of their scenarios during class. This presentation serves as part of the grade for the paper.
Second paper: is based on the first paper – the energy or natural resources scenarios. The focus of this paper will be the development of strategies and strategic thrusts that address the key issues discovered in the scenarios work.
Timelines for Course Requirements:
Site visits are subject to change given industry and host availability.
Date Topic
Assignment
Schedule Guest Presenter
12-Jan- 12
Course Overview & Scenario
Planning Ajit Sandilya - CABREE
13-Jan-
12 SITE VISIT: Strathcona 19-Jan-
12 Oil Sands and OSLI Presentations Bob Mitchell - OSLI 26-Jan-
12 Energy Overview
Challenge
Question 1 Eddy Isaacs - AITF 02-Feb-
12
Energy Markets, Regulation &
Refineries
Challenge
Question 2 John Prusakowski - Suncor
10-Feb-
12 SITE VISIT: Calgary 16-Feb-
12 Energy Pipelines / Coal
Challenge
Question 4 Adesiji Rabiu - Enbridge 23-Feb-
12 Reading Week Visit
01-Mar-
12 Natural Gas, Alternatives
Challenge Question5
Ernie Hui - DM - Alberta Environment
02-Mar- 12
Scenario Paper due
08-Mar- 12
Petrochemicals & Strategy
Development Joe Gysel - EPCOR
15-Mar-
12 Oil Sands & Royalties, Nuclear Doug Lammie - Alberta Energy 22-Mar-
12 SITE VISIT: Oil Sands Tour Oil Sands 23-Mar-
12 SITE VISIT: Oil Sands Tour Oil Sands 29-Mar-
12 Electricity
Challenge
Question 7 Trevor Posyluzny - Shell 05-Apr-
12 Forestry and Land Use 06-Apr-
12 Good Friday 12-Apr-
12 Case Competition
Criteria for evaluation:
Structure of paper and strength of arguments (is this a convincing, well organized and well- written paper?)
References and evidence of research (demonstrate the quality of the research, including modeling that was done in preparation)
Overall quality of the text (hint: have your paper proof read)
The results (%) will then be converted to the course grade, based on the following scale:
o Excellent: A+, A, A- o Good: B+, B o Satisfactory: B-, C+
o Failure: C and below
IMPORTANT NOTE:
“The University of Alberta is committed to the highest standards of academic integrity and honesty.
Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behavior (www.ualberta.ca/secretariat/appeals.htm ) and avoid any behavior which could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.” (GFC 29 Sep 2003)
I expect you to reference and cite material that you use appropriately. I expect that you will familiarize yourself with the University of Alberta code of student behaviour as it applies to “inappropriate academic behaviour”, and specifically the following section. This is your responsibility. Feel free to see me if you have any questions.
Notes from General Faculties Council:
1. “Policy about course outlines can be found in Section 23.4(2) of the University Calendar.” Specifically,
"At the beginning of each course, instructors are required by GFC to provide a course outline which must include the following: (1) a statement of the course objectives and general content; (2) a list of the required textbooks and other major course materials; (3) an indication of how and when students have access to the instructor; (4) the distribution of weight between term work and final examination; (5) identification of all course activities worth 10% or more of the overall course mark; (6) whether marks are given for class participation and other in-class activities as well as the weight of such participation; (7) dates of any examination and course assignments with a weight of 10% or more of the overall course mark; (8) the manner in which the official University grading system is to be implemented in that particular course or section, i.e., whether a particular distribution is to be used to determine grades, or whether there are absolute measures or marks which will determine them, or whether a combination of the two will be used. Instructors should refer to the University of Alberta Marking and Grading Guidelines.
2. From the University of Alberta Libraries website "Imagine that you were about to get surgery and just as you were going under, you discovered that your surgeon had cheated throughout his/her university career. Would you feel betrayed? What if it was your lawyer? Your accountant? Your child's teacher? All the above scenarios are reflective of a concept called academic integrity. As the above examples illustrate, academic integrity not only affects the climate at the university but it can also affect every other area of your life." http://www.library.ualberta.ca/guides/plagiarism/academic/index.cfm
The Centre for Academic Integrity at Duke University defines academic integrity "as a commitment, even in the face of adversity, to five fundamental values: honesty, trust, fairness, respect, and responsibility.
From these values flow principles of behaviour that enable academic communities to translate ideals into action." (See http://www.academicintegrity.org/)
From General Faculties Council: “The University of Alberta is committed to the highest standards of academic integrity and honesty. Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly
and/or participation in an offence. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.”
3. The University of Alberta Code of Student Behaviour (online at http://www.uofaweb.ualberta.ca/gfcpolicymanual/content.cfm?ID_page=37633#38360) specifies in Section 30.3.4 Inappropriate Behaviour towards Members of the University Community, subsection 30.3.4(1) Disruption, paragraph 30.3.4(1)a that "No Student shall disrupt a Class in such a way that interferes with the normal process of the session or the learning of other Students." Under Section 30.4.3 Levels of Sanction, subsection 30.4.3(1) Minor Sanctions, paragraph 30.4.3(1)a "Instructors have the authority to dismiss a Student from Class for no more than 3 hours of Class time for Disruption of a Class.
In cases where a single class meeting is longer than 3 hours the student may be excluded from that entire class."
4. Students may wish to view past blank copies of SCHEDULED FINAL EXAMS for this course by visiting the SU Exam Registry in person, at 0-26 Students Union Building (SUB), or online at http://www.su.ualberta.ca/services_and_businesses/services/infolink/exams. Also see previous exams online at Course Resources: http://www.business.ualberta.ca/rfield/Resources.htm.
University Policy on Recording:
Recording is permitted only with the prior written consent of the professor or if recording is part of an approved accommodation plan.
