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The 2007 Wharton Economic Summit ::
Panels
| Dividing the Pie: The Political Debate about Profits in the Energy Sector |
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Moderator: Witold Henisz, Associate Professor of Management Panelists: Mohammad Azam Ali, Janet Frances Clark, David N. Fleischer |
| Friday, April 13 - 3:00 p.m.-4:15 p.m. :: Full Summit Schedule |
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As oil and gas prices remain above medium term trends, investments made assuming far lower prices are generating supranormal returns. Consumers and legislators are demanding a redistribution of these returns away from shareholders. Energy company executives are highlighting the inherent risk in their operations and the public's lack of willingness to share downside exposure. How serious is the political challenge in the U.S. and other industrialized countries? What are the common threads that link these political challenges to the efforts to redistribute rents in Venezuela, Bolivia, Ecuador as well as across Central Asia and Africa? How has the entrance of China as an economic and political player in global exploration and production shifted the balance of power held by Western energy companies? What political, economic and social tactics are proving effective in minimizing redistribution of returns in this complex landscape? |
| Panelists |
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:: Mohammad Azam Ali , ENG96 W'96
Chief Executive OfficerOrient & Gulf DMCC |
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:: Janet Frances Clark , WG'82
Senior Vice President and Chief Financial OfficerMarathon Oil Corporation Janet F. Clark is senior vice president and chief financial officer at Marathon Oil Corporation. Clark joined Marathon on January 5, 2004 with a strong background in financial management and energy industry experience. She began her career as an investment banker specializing in corporate finance, primarily with The First Boston Corporation, predecessor to Credit Suisse First Boston. In 1997, Ms. Clark joined Santa Fe Energy Resources, Inc. as chief financial officer. Following the merger of Santa Fe Energy and Snyder Oil in 1999, she assumed the role of executive vice president of Corporate Development and Administration, with responsibility for corporate development, internal auditing, human resources, information technology, purchasing, office services, security and environmental, health and safety. Ms. Clark joined Nuevo Energy in 2001 as senior vice president & chief financial officer. While at Nuevo, she was responsible for all finance, accounting, investor relations and information technology functions within the company, serving as the direct point of contact with investment and commercial banks, Wall Street analysts and rating agencies. Ms. Clark was born in New Orleans, Louisiana. In 1977, she earned a BA in Economics from Harvard University and a master of business administration degree in finance in 1982 from the Wharton School of the University of Pennsylvania. Ms. Clark serves on the Board of Directors of Universal Compression Holdings, Inc., which trades on the New York Stock Exchange under the ticker symbol UCO. She serves also on the Board of three non-profit organizations: The Houston Symphony, YES College Preparatory Academy and New Hope Housing. |
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:: David N. Fleischer , C70, WG76
Retired Managing DirectorGoldman Sachs Group, Inc. |
