Vincent Kaminski

The course is based on the principle that one cannot understand commodity markets without a good grasp of the technology and physical infrastructure behind production, transportation, and distribution of energy commodities and linkages between different segments of the energy complex. The review of the industry infrastructure will be followed by discussion of the institutional framework of the energy markets in the US and other developed economies, including discussion of the different types of participating business entities, types of transactions and regulatory infrastructure. The course will be divided into three groups of lectures, covering the natural gas industry, power and coal business and oil / refined products markets, with an additional shorter lecture on regulatory issues.

The course offers a review of the US energy markets across the entire commodity spectrum: natural gas, oil and refined products, electricity, renewables and renewable energy credits, coal and emission allowances. Some aspects of the international energy markets will be covered as well; to the extent the material is critical to understanding of the US energy business. The class is recommended to anyone contemplating a career in energy trading and marketing, energy risk management, or regulatory institutions.