Epstein Secrets

hurdle rate for renewable projects, and fiscal problems in the West may reduce the subsidies that underpin many renewable projects and valuations. Michael Cembalest Chief Investment Officer Notes Vaclav Smil is a Distinguished Professor in the Faculty of Environment at the University of Manitoba in Winnipeg an

tional Electric Transmission Congestion Study", US Department of Energy, December 2009. "Annual Energy Outlook 2011 Reference Case", Richard Newell, US Energy Information Administration, December 16, 2010. "Energy and the Wealth of Nations: Understanding the Biophysical Economy", Charles Hall of SUNY ESF (who was kind enough to rev

f total expenses, and is dwarfed by labor costs. Michael Cembalest J.P. Morgan Asset Management ' Proposed changes affec

day 25 9.5 8.5 1.5 6.5 05 Federal Offshore 55 Gulf of Mexico North Dakota 0.0 45 1985 1990 1995 2000 2005 2010 1985 1990 1995 2000 2005 2010 Source: US Energy Information Administration. Source: US Energy Information Administration. The growth in US domestic production is notable, but on its own insufficient to result in energy inde

5 2000 2005 2010 2015 2020 2025 2030 2035 Source: U.S. Energy Information Administration. Non-associated onshore 8% 10 Non-associated offs

cy hurdle rate for renewable projects, and fiscal problems in the West may reduce the subsidies that underpin many renewable projects and valuations. Michael Cembalest Chief Investment Officer Notes Vaclav Smil is a Distinguished Professor in the Faculty of Environment at the University of Manitoba in Winnipeg and a