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03/28/2025
USAEE E-NEWSLETTER
SPRING 2025
Welcome to the inaugural edition of the United States Association for Energy Economics new quarterly newsletter! Each quarter, we will bring you engaging articles, expert opinions, and updates that reflect the dynamic landscape affecting the economics of the energy industry. This edition features thought-provoking pieces on the current state of LNG contracting, reflections from our president on bridging divides in energy economics, perspectives from a longstanding USAEE member, and highlights upcoming events. Your feedback is invaluable to us, so please reach out to share your thoughts, article ideas, and questions at usaee@usaee.org.
Bridging Divides in Energy Economics
BY R. DEAN FOREMAN | PRESIDENT, USAEE
It is a great honor to serve as President of the United States Association for Energy Economics (USAEE) in 2025. As a member and active participant in USAEE for more than 20 years, I’d like to offer some reflections on how I view our discipline and the organization’s role in its evolution.
In many ways, energy economics has never been more divided—fragmented by competing policy priorities and diverging methodological approaches. One of USAEE’s core missions is to convene objective conversations where principles and measurement provide common ground. In an era of increased complexity, where energy transitions, market uncertainties, and geopolitical shifts dominate headlines, the discipline of energy economics must be anchored by empirical rigor and analytical clarity.
Be sure to mark your calendar for the 42nd USAEE/IAEE North American Conference this fall in Fort Worth, Texas!
Join us at The Worthington Renaissance Fort Worth Hotel as we explore energy economics Lone Star-style with a focus on navigating the future of energy markets, policy, and global dynamics. The conference will run from Sunday, November 16 through Wednesday, November 19.
Fort Worth is renowned for its Texas hospitality and a dozen remarkable districts full of culture and fun. The Worthington Renaissance is a historic fixture on the downtown landscape, offering contemporary comfort near celebrated attractions. More conference details, including registration information, speakers, program, offsite events, and hotel booking info are coming soon!
LNG Contracting Activity Rose in 2024
as Brent Pricing Comes into Focus
BY JASON FEER
Global LNG buyers continued to show strong interest in LNG in 2024, inking 71 sales and purchase agreement (SPAs) encompassing just over 64 million tons (MMt), according to data from Poten & Partners, a leading LNG consultancy and business intelligence provider. The total is a slight decline from the 73 SPAs covering 66.5 MMt signed in 2023 but continues the recent trend of strong interest in LNG amid efforts to switch to lower carbon fuels.
Long-term contracts are critical to the development new LNG projects as most new capacity is financed via non-recourse project finance structures, and long-term contracts for most of the capacity of new projects are necessary in order to obtain the bank loans needed for construction.
INTRODUCING MEMBER PERSPECTIVES
BY MICHAEL C. LYNCH
Younger members of the USAEE bring many advantages to the organization, including an openness to new ideas without being wedded to previous theories and concepts, as well as familiarity with new analytical methods. But that said, older members have two specific advantages that this series will exploit, including in the first please simply having lived through many developments in energy economics and policies, but also, having many more years in which to read and analyze energy matters.
This series will feature short pieces by USAEE members - the first of which, from Troy N. Thompson, can be found below - from a variety of backgrounds and interests and ask them to address both important questions in energy economics and policies, but additionally, their own experiences with the USAEE (and IAEE more generally), the things they have learned, the people they have met and even pleasant experiences during gatherings. The intent will be to allow for some useful reminiscing as well as providing some guidance to younger members about how best to exploit their membership to advance their personal knowledge and careers.
MEMBER PERSPECTIVE: TROY N. THOMPSON
Joining the United State Association for Energy Economics (USAEE) was a rewarding moment in my professional journey, deeply influenced by my mentors. I developed many rich business relationships and lifelong friends.
My first job in the energy industry was with Halliburton. My bosses there, Dale Davis and Carl Garrison, were both respected members of USAEE, and they were enthusiastic supporters of my involvement. The first USAEE annual conference I attended was in Boston in 1996. I did not know anybody and felt slightly intimidated, but I met Dennis O'Brien, the chief economist at Caltex in Dallas, Texas, and a long-time member, who graciously took me under his wing and introduced me to several members. I also had the pleasure of meeting Peter Hartley from Rice University and Jim Sweeney from Stanford University, whose insights and expertise further fueled my enthusiasm for the field. They were always available for me, and both were so welcoming.
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