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Enron Mail |
Here's the outline we sent to FERC yesterday.? I had sent the following=20
e-mail last week to Dan Larcamp and Ellen Schall (OGC) of FERC. ? ?=20 Dan =01) I am a senior research fellow at the Mercatus Center at George Ma= son=20 University.? I recently taught a course to FERC staff on energy derivative= s,=20 and based on that and discussions with others, think you might benefit fro= m=20 a broader course to help FERC staff and commissioners understand prices an= d=20 energy markets, particularly the relationship between cash or spot markets= ,=20 and financial markets (including derivatives).?=20 We at the Mercatus Center are in a unique position to serve as a resource = to=20 the Commission and staff on economic/financial issues.? We are a nonprofit,= =20 research, education, outreach organization, and, as part of our mission ar= e=20 organized to work with the administration on different regulatory and mark= et=20 issues.? We would offer the course at no charge. We have in mind a team of experts in energy markets with unique experience= s=20 and? perspectives. Prof. Bill Albrecht, of Iowa State University is a former commissioner at= =20 the Commodity Futures Trading Commission.? He was there in the aftermath = of=20 the Crash of =01+87, during the Gulf War and other market crises, and has = a=20 valuable understanding of the issues FERC is facing now, with respect to t= he=20 influence of trading and derivative markets on energy prices. Jerry Ellig, Ph.D., is a senior research fellow at Mercatus and has done= =20 extensive research and teaching on market infrastructure issues,=20 particularly in energy markets. Prof. Vernon Smith, who has recently joined the faculty of GMU and the=20 Mercatus Center, is known as the father of experimental economics.? You m= ay=20 be familiar with his sophisticated economic =01&experiments,=018 which off= er hands=20 on experience with energy markets, including transmission constraints, etc= .=20 and allow participants and researchers to test market reactions to differe= nt=20 rules, events, etc. I am a former CFTC economist, and write and teach courses on risk and risk= =20 management in energy markets.? =20 Professor Albrecht will be in the area on July 25-26.? Two 3-hour sessions = on=20 those days (starting in the afternoon after your Commission meeting on the= =20 25th) would provide a strong introduction to these issues.? We could then= =20 talk about whether future courses or workshops would be valuable. I will call you tomorrow to discuss this idea. ? ? Susan E. Dudley, Senior Research Fellow, Regulatory Studies Program,=20 Mercatus Center, George Mason University? 3401 North Fairfax Drive, Suite 450, Arlington, VA 22201-4433.? =20 703-993-4934 (o)?? 703-995-4835 (fax)? 703-754-0304 (h) www.mercatus.org - FERC course outline 7-16.doc
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