Research and predict market trends in the energy industry.
What does an Energy Economist do?
The energy that cools and heats our homes, powers the businesses in town, and keeps the park lit up at night comes from a variety of resources. Coal, natural gas, sunlight, biofuels, and wind all contribute solutions to our massive energy consumption needs. But each of these industries has limitations and fluctuations, so it’s up to you, the Energy Economist, to identify trends, estimate production, and crunch the consumption numbers.
Businesses rely on your ability as an Energy Economist to gather a plethora of raw data, run computations, and spit out usable information. Say, for example, you’re hired by a natural gas utilities company to help them formulate a budget for the next five years. It’s your job as an Energy Economist to research ways that natural gas has been used in the past, the rate of current consumption, the areas that use the highest quantity of the product, the future consumption rate, the cost of production, and its use in other areas/countries.
While you often work as a Consultant to big business and government, you also invest time in research. What’s the effect of climate on current energy production? Will average temperatures rise, requiring more power to run air conditioning units? How do governmental regulation policies affect the cost of producing energy?
There’s no end to the considerations involved in creating an accurate financial picture of the energy industry. But, thanks to your efforts, businesses and policymakers have a clearer idea of what to expect.