Why do you think your message is critical in the oil and gas industry at this time?
Our session is essentially about how we really need to think systemically to understand our industry. Whether you’re an investor or operator, local decisions must be contingent on both local political realities - which we know are continuing to evolve with the implementation of Colorado Senate bill 181 - but also global market dynamics and the evolution of our technical knowledge and capabilities related to unconventional reservoir characterization and development and production techniques.
What do you expect to be the key takeaways from the panel discussion?
I’m interested to learn from the other participants. Part of the message I hope to convey is that there’s a significant risk that the rapid pace of technological advancements observed over the past 10 years - in horizontal drilling and hydraulic fracturing techniques - is unlikely to continue. This is not a knock on our industry’s ability to innovate, it is the fundamental nature of a maturing technological regime - eventually, stepwise innovations become incrementally smaller. For our industry, this means basin break-even costs will decline less rapidly in the second decade of shale oil & gas plays, and may even reach their lower limit.
August 28th is the last day of The Energy Summit, and also our closing evening event at Coors Field. Who will you be rooting for – Rockies or Red Sox?
The Rockies of course!
How do you personally stay current on this topic?
I subscribe to the WSJ and receive daily emails from the NYTimes. I’ve also curated Twitter and LinkedIn feeds narrowly focused on energy and economics. Through those online communities, I encounter useful articles from a variety of sources. A few recent examples include The Breakthrough Institute, The Atlantic, The Economist, The Council on Foreign Relations, Seeking Alpha.
About Michael Orlando
Michael J. Orlando is an economist and petroleum engineer with over 30 years of experience on various facets of energy and resource industries in general and upstream and midstream oil and gas sectors in particular. Clients solicit Michael for his views on how macroeconomic, political, and technological developments affect the outlook for energy markets and optimal business and financial strategy. He provides expert analysis and testimony for commercial litigation and helps organizations to assess political and regulatory risks and develop strategies for managing relations in those multi-stakeholder bargaining environments.
Michael began his career with Shell Oil Company, in reservoir and environmental engineering assignments for exploration and development projects in the Gulf of Mexico. He later served as a Research Economist in the Federal Reserve System, and then as Vice President and Branch Executive for the Fed’s Denver Branch, where he was responsible for regional economic research, energy markets analysis, policy advising, and public communication.
An award-winning teacher, Michael has developed courses in finance, economics, political science, and management. His research spans a range of topics in applied microeconomics, including publications on energy and environmental policy, the economic geography and industrial demography of innovation, the economics of payments networks, financial regulatory policy, and corporate governance. He has also co-authored a textbook on money and banking.
Michael holds PhD and MA degrees in economics from Washington University in St. Louis, an MBA from Tulane University, and a BS in Petroleum and Natural Gas Engineering from The Pennsylvania State University. He is currently Managing Director for Econ One Research in Denver and Lecturer in the Global Energy Management Program at the University of Colorado Denver Business School.