ISET Partners with the Norwegian School of Economics
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Supported by Norway’s Ministry of Foreign Affairs, ISET’s collaboration with the Norwegian School of Economics (Norges Handelshøyskole – NHH) started more than four years ago with regular faculty visits by some of the most senior NHH scholars, professors Einar Hope and Rognvaldur Hannesson. The main goal of the new 3-year phase, to be financed by the Norwegian Centre for International Cooperation in Education (Senter for internasjonalisering av utdanning (SIU)), is to develop a dual degree programin energy and environmental economics. SIU funding will also provide ISET students and faculty with the opportunity to spend some time on the NHH campus in Bergen, participate in research seminars, and take advanced courses that are not available at ISET. Norwegian students will also visit ISET in order to learn from Georgia’s experience in eradicating corruption and promoting fast-track modernization. The first visit by a group of more than 30 Norwegian students is planned for early April 2016. The NHH delegation will be led by Prof.Tina Søreide, a leading scholar in the field of law and economics, and Prof. Sunniva Whittaker, Vice Rector at NHH.
ISET Hosts Head of BP in Georgia to Mark 20 Years of BP's Partnership with Georgia
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2016 marked 20 years of BP’s successful partnership with Georgia, elevating the country’s role in the global economy and helping its economy and civil society. (We should note that BP has been instrumental in the creation of ISET. It was a key member of the initial donor consortium behind ISET with a core contribution of more than $2.3mln.) To celebrate this remarkable milestone, ISET hosted Mr. Chris Schlueter, Head of BP’s Georgian Section. Mr. Schlueter’s presentation started with two videos featuring BP’s 2015 Energy Outlook and comments by Spencer Dale, the company’s Chief Economist, which shed light on global energy production and consumption patterns, the increasing role of renewables, as well as current and future energy price dynamics.
Mr. Schlueter explained that the world oil market is saturated. Not only does supply exceed demands, but storage facilities are also full to the brim. This suggests that oil prices will not recover any time soon. On the one hand, low oil prices hurt high cost oil producers in the US, bringing many projects to a halt, and reducing supply in the medium term. Unfortunately, cheap oil also hurts efforts to curb consumption of carbon energy, and reduces the amount of funding available for research into low emission and energy efficient technologies and renewables.
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