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Summer 2003 CalBusiness  
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Faculty Shed Light on California Energy Crisis

Haas faculty have been at the forefront of the debate on the state’s energy problems for the past two years, most notably professors Severin Borenstein and David Teece.

Severin Borenstein, director of the UC Energy Institute and E.T. Grether Professor in Public Policy and Business Administration at Haas, led a Power Conference on Electricity Industry Restructuring on the UC Berkeley campus on March 14, 2003. Borenstein presented a talk on Time-Varying Retail Electricity Prices at the conference, which drew an international contingent of researchers from as far as Cambridge, Oxford, and Madrid.

Borenstein has become a household name on the electricity crisis since summer 2001, sharing his insights in lectures, conferences, and frequent media interviews. His recent research on California’s electricity deregulation and gasoline markets have been published in leading economics journals.

For more information on the activities and research of the UC Energy Institute, please go to the web site at http://www.ucei.berkeley.edu.

David Teece, director of the Institute of Management, Innovation & Organization and Mitsubishi Bank Professor of International Business and Finance, led a group of academicians and public policy experts in the creation of the Manifesto on the California Electricity Crises for the second year in a row. The Manifesto urged the state to move swiftly to rebuild its broken electricity industry by allowing market forces to work. Absent meaningful reforms, it said, California electricity consumers face a repeat of the soaring wholesale prices and blackouts of 2000-01.

The signatories of the 2003 manifesto included Nobel Laureate in Economics Vernon Smith from George Mason University, Mitch Wilk, former president of the California Public Utilities Commission, Haas Professor Pablo Spiller, and faculty from Stanford University, UCLA, Harvard University, and the Wharton School, among others.

The 2003 manifesto and its list of signatories is available on the Web at http://www.haas.berkeley.edu/news/manifesto.html.

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John Doerr
John Doerr, partner at Kleiner, Perkins, Caulfield and Byers, was among the leading thinkers from business, academia, and public policy who participated in the Haas School's third annual New Economy Forum in Silicon Valley to discuss issues and opportunities facing the economy.
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