Innovation Dynamics and Policy in the Energy Sector

Milton Holloway holds a Bachelor of Science (1966) and Master of Science (1968) degrees in Applied and Resource Economics from Texas Tech University and a Ph.D. in Applied Economics from Oregon State University (1972). He is founder and President of Resource Economics, Inc., an economic consulting firm in Austin, Texas. His professional experience includes consulting, university teaching (in Texas and Mexico) and direction of Texas energy policy and R&D agencies. Holloway’s primary consulting, research and teaching interests have focused on applied economics and natural resource conservation in both public and private sector venues. During the decade following the Arab Oil Embargo of 1973 he directed Texas energy policy agencies focused on energy policy and new technology R&D. Under Holloway’s leadership (alongside others) Texas adopted the first ever comprehensive Texas energy policy, and recommended energy policy changes to the federal government. Following the deregulation of Texas electric utilities in 2005 Holloway helped organize, and then directed, a Texas non-profit organization - the Center for the Commercialization of Electric Technologies (CCET) whose purpose was to promote technological and institutional innovation in the Texas electric market. The state agency roles of the 1970s and early 1980s included Executive Director appointments by two Texas Governors with Senate confirmation. The CCET appointment as President and COO was made by the organization’s private sector Board of Directors.

PrefaceAddendum1. The dynamics of innovation and technology in a market economy2. The common international energy innovation drivers3. A game change at Spindletop4. From chaos to order in the East Texas Field5. Concessions abroad and the disciplined rule of capture6. West Texas and the Permian Basin early innovations7. Panhandle Field and natural gas flaring8. Upheaval in the energy markets: the Arab Oil Embargo9. Electric industry deregulation and competitive markets10. Hydraulic fracturing: the Permian Basin challenges Organization11. The oil and gas state adds renewable wind and solar12. Capture and global warming: the technology and regulation debate13. The road ahead: ideas are keyA recommendationAppendix A: The principle components of the energy systemAppendix B: Overview of energy market and regulatory structures and US influence abroadAppendix C: Recent developments in energy technology and markets