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Skills

Resource Economist Ltd offers training courses in oil and gas, energy fundamentals, price forecasting and the interaction between fossil fuels and the renewable energies.

The courses are delivered by Peter Stewart and his associates, who can arrange them on a bespoke basis or through training and consulting companies with which he is associated.

We provide a highly interactive and enjoyable learning environment, in which delegates can try out the skills they have learnt, and can consolidate the knowledge through exercises, role plays, presentations and simulations.

The courses are intensive and challenging, but typically delegates find them fun and rewarding.

Resource Economist measures the response of delegates to their learning experience, and feedback questionnaires are completed for every course. This is used as the basis for fine-tuning the content for future courses at the same client.

THE TRANSITION MINDSET

The Energy Transition will involve a switch from centralised fossil fuel-dominated energy delivery to distributed models in which communities are a more active participant. The old image of the sector as a button-pushing industry is giving way to one in which soft skills and communication are as, or more, important than technical knowledge. People working in the sector will need to be flexible, creative, embracing of change, talented communicators and above all, lifelong learners who are able to rapidly evaluate and react to new situations. We call this “the Transition Mindset” and we help people and companies develop these attitudes in our courses and mentoring / coaching programs.

THE SKILLS GAP

The energy industry faces a massive and growing skills gap. It’s not just the lack of STEM graduates that’s the problem. As the industry evolves and becomes more complex, it is ever more in need of a diverse, talented and creative workforce. Resource Economist founder Peter Stewart has been writing about the emerging skills gaps in energy for the last decade. 

SUSTAINABILITY

Whether you are an established oil and gas company, a tech start-up or an innovative energy disruptor, sustainability will be at the heart of what you do. Our training courses review current developments in energy in the context of the Paris Agreement. Using case studies, we look at the successes and failures of projects and we critically examine the future energy landscape to give investors the tools they need to measure projects in terms of their sustainability as well as profitability.

FORECASTING

It is no longer viable to forecast supply, demand and prices for the different forms of energy as id they were in different siloes. Our courses help participants develop holistic models of forecasting that incorporate the interplay between different forms of energy rather than looking at coal, oil, gas and renewables as a series of discrete. Although some analysts predict that fossil fuel use will begin to decline in the mid 2020s, there will be decades in which old and new forms of energy compete. The goal of Net Zero Carbon emissions is gaining momentum in developed countries but emerging markets look far short of being convinced that they can fuel their economies while meeting climate targets. 

DATA ANALYTICS

Technological change is progressing at a rate that has never been experienced since the Industrial Revolution. Who will be the winners and losers in the new energy landscape? As consumers move from being passive receivers of energy to participants who can feed back into the supply mix when required, huge amounts of data will be exchanged. Big Data, Automation and Blockchain will rapidly evolve from being exotic concepts to being the spine of energy commerce. Data scientists will be at the heart of this new architecture.

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Forecasts and Risks

resourceeconomist.com provides training on forecasting and risk analysis in energy and natural resources. We also coach analysts in how to avoid psychological biases that may distort their analysis.

Data Quality

Not all data is equal. The quality of data varies enormously between countries, not only in timeliness but also in the accuracy and reliability of the statistics gathered. We are building a database ranking the quality of data generated by different organisations.
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Research

Resource Economist issues regular updates on key energy and natural resource markets, and we plan to launch a monthly newsletter in due course.
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Skills Support

Our training, mentoring and coaching programs aim to support resource analysts through courses, group seminars and discussions, as well as one-to-one coaching as part of performance improvement plans.
We provide courses in forecasting and data analytics. The two are obviously closely connected : it’s impossible to predict the future without some kind of historical analysis based on data. Nevertheless, the quality of data varies and an intelligent understanding of the limits of data in the real world can help avoid forecasting errors.