Preface

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Welcome to EME 801: Energy Markets, Policy, and Regulation

New to EME 801?

Registered students - If this is your first visit to this course website, please take some time to become familiar with the assignments and course environment by going to the course Orientation.

This website provides the primary instructional materials for the course. The Resources menu links to important supporting materials, while the Lessons menu links to the course lessons. Canvas, Penn State's course management system, is used to support the delivery of this course, as well, as it provides the primary communications, calendaring, and submission tools for the course.

Students who register for this Penn State course gain access to assignments and instructor feedback, and earn academic credit. Learn more about our Renewable Energy and Sustainability Systems degree program and how to register.

Quick Facts about EME 801

Instructor and Author - Seth Blumsack, Professor of Energy Policy and Economics and International Affairs, Department of Energy and Mineral Engineering, College of Earth and Mineral Sciences, The Pennsylvania State University.
Overview - EME 801 is a required course for the Master of Professional Studies in Renewable Energy Sustainability and Systems online degree program, geared towards students who are able to study only part time and at a distance. This course will provide an overview of commodity markets for oil and petroleum products; natural gas; and electric energy, with a focus on structure and function rather than theory. The course will also provide an overview of the basics of energy project decision-making, and how to think about the impacts of commodity market dynamics on these decisions.
Learning Environment - This website provides the primary instructional materials for the course. The Resources menu at left links to important supporting materials, while the Lessons menu links to the course lessons. Canvas, Penn State's course management system, is used to support the delivery of this course as well, as it provides the primary communications, calendaring, and submission tools for the course.
Topics of Study - The content of this course is divided into 12 lessons. Each lesson will be completed in approximately 1 week.
- Lesson 1, The Global Market for Crude Oil
- Lesson 2, Markets for Refined Petroleum Products
- Lesson 3, Markets for Natural Gas
- Lesson 4, Unconventional Natural Gas Development
- Lesson 5, Introduction to the Electricity Industry
- Lesson 6, Restructuring and Deregulation in the Electric Power Industry
- Lesson 7, Economic Challenges in the Integration of Renewable Resources
- Lesson 8, Basic Accounting Concepts
- Lesson 9, Discounted Cash Flow Models and Metrics for Evaluating Energy Projects
- Lesson 10, Cost Benefit Analysis and Project Decision-Making
- Lesson 11, Discounted Cash Flow Models for Energy Projects
- Lesson 12, Taxes, Subsidies, and Incentives for Renewable Energy Resources