Senator Brian Schatz Keynotes Stroock Energy Forum
New York, October 8 – U.S. Senator Brian Schatz (D – HI), a member of the Senate Committee on Energy and Natural Resources, discussed the challenges of energy production and the opportunities for increased growth of renewables at a Stroock & Stroock & Lavan forum, "Emerging Energy Industry Developments," held on October 7, 2013 at the law firm's New York office.
The event, introduced by Jeffrey W. Meyers, Chair of Stroock's Energy and Project Finance Practice, included sessions on recent developments in U.S. financial regulation and foreign investment; the outlook for natural gas; financing trends and innovations in the renewable energy sector; and developments in energy M&A transactions.
In his remarks, Senator Schatz said, "Climate change is real. It is caused by humans and it should be addressed."
He noted that Hawaii, whose energy costs are three times the national average, has a clean energy initiative that is set to reach an 18 percent renewable portfolio standard in 2013.
"Energy challenges are regional, and states have the best chance of making significant progress in solving them," and they can do it in a non-political way.
At the conclusion of his remarks, Senator Schatz addressed the current halt in Congress. "The Senate is supposed to solve problems. We absolutely have to get back to governing."
Another featured speaker was award-winning Wall Street Journal financial columnist Gregory Zuckerman, who addressed the topic, "How the Frackers Changed the Country…and the World."
Panelists included representatives from Charles River Associates, Environmental Defense Fund, Hess Energy Trading Company, LLC, Highstar Capital, J.P. Morgan, Mizuho Bank, Ltd., National Futures Association, PIRA Energy Group, RBC Capital Markets, Rockland Capital, LLC, The Carlyle Group, Triad Energy Corporation and Whitehall & Co, LLC. Stroock lawyers E. Gail Suchman, Scott Le Bouef, Andrea N. Satty, Richard Madris, Robert Abrams, Chris Griner and Micah W. Bloomfield participated.
About Stroock & Stroock & Lavan's Energy and Project Finance Practice
Stroock represents buyers and sellers of electric generating facilities of all kinds located across the country, in projects involving construction, development and operation, including transactions with distressed power companies and entities in bankruptcy.
In the area of commodities and derivatives, the firm's experience includes all contracts relating to power generating facilities, including tolling, energy management, and fuel supply agreements, as well as the second and third lien hedging transactions that have become prevalent in the market. Stroock also has a dedicated Climate Practice Group, which advises businesses seeking to navigate the maze of new laws and regulations and to capitalize on emerging opportunities. The firm's lawyers are highly respected in deals involving energy-related trading agreements. Stroock's Litigation Group has achieved national and international recognition on energy-related matters.
Stroock & Stroock & Lavan LLP is a law firm providing transactional and litigation guidance to leading multinational corporations, investment banks and private equity firms in the U.S. and abroad. Stroock's emphasis on client service and innovation has made it one of the nation's leading law firms for 130 years. Stroock's practice areas include capital markets/securities, commercial finance, mergers and acquisitions and joint ventures, private equity, private funds, derivatives and commodities, employment law and benefits, energy and project finance, entertainment, environmental law, financial restructuring, financial services litigation, insurance, intellectual property, investment management, litigation, personal client services, real estate, structured finance and tax. For more information, please visit Stroock's website at www.stroock.com.