Latest activities of group Richard L. Morningstar Richard L. Morningstar2011-04-11T16:36:28Z<p><span>S</span>ince becoming Special Envoy for Eurasian energy&nbsp;in 2009, Richard L. Morningstar has had a lot on&nbsp;his plate. He has been making a business argument&nbsp;for many of the big energy projects in Europe, during&nbsp;a time when money has been dwindling because of&nbsp;the global recession.&nbsp;Morningstar realizes that it&rsquo;s all about economics.&nbsp;To create an efficient way to transport energy throughout&nbsp;Eurasia there must be a way for businesses to&nbsp;make a profit, he explained in a speech given last&nbsp;year. Big projects are overwhelmingly expensive.&nbsp;Energy markets are uncertain. The full impact of the&nbsp;financial crisis is still unfolding. Finding financing for&nbsp;projects will be more difficult than ever.</p> <p>&ldquo;And that implies, in the short to mid-term, that the&nbsp;smart approach to energy security, particularly for specific&nbsp;countries or regions, may be local and incremental:&nbsp;an approach that focuses on getting the most out&nbsp;of existing infrastructure and opportunities,&rdquo; he said.&nbsp;Secretary Clinton appointed Morningstar to support&nbsp;the United States&rsquo; energy goals in the Eurasian region,&nbsp;including key energy issues relating to Europe, Russia,&nbsp;Ukraine, Turkey, Central Asia and the Caucasus.&nbsp;Since his appointment he has provided the Secretary&nbsp;with strategic advice on policy issues relating&nbsp;to development, transit, and distribution of energy&nbsp;resources in Eurasia.</p> <p>His previous job was working on regional energy&nbsp;issues during the Clinton Administration. He also&nbsp;served as United States ambassador to the European&nbsp;Union from June 1999 to September 2001. He received&nbsp;his B.A. from Harvard in 1967 and J.D. from Stanford&nbsp;Law School in 1970.&nbsp;In addition, Morningstar is pushing for cooperation&nbsp;on key energy issues through the newly-created&nbsp;EU-US Energy Council. Two of these strategic issues&nbsp;are: security of supply and advancing clean energy&nbsp;technologies and efficiency programs.&nbsp;He is also focused on connecting existing gas and&nbsp;electric power networks and building gas storage&nbsp;capacity, which needs very little new investment.&nbsp;Meanwhile, the EU has committed several billion&nbsp;euros to investment in these facilities. The EU is also&nbsp;moving forward on greening its economy through&nbsp;improving energy efficiency, investing in renewables,&nbsp;and liberalizing energy markets.&nbsp;Yet demand will outstrip supply if new infrastructure&nbsp;isn&rsquo;t built. Large, dedicated pipelines are needed,&nbsp;he said. And with over a dozen projects in the offing it&nbsp;seems as though there will be many more pipelines.&nbsp;The key will be for the U.S. and Europe to look&nbsp;out for each other&rsquo;s energy security - our economies&nbsp;depend on it.</p>