Editor’s Letter
Editor
Christine Harper
Design Director
Josef Reyes
Features Editor
Stryker McGuire
<GO> Editor
Jon Asmundsson
Special Reports Editor
Siobhan Wagner
Graphics Editor
Mark GlassmanBloomberg Markets draws on the resources
of Bloomberg News, Bloomberg TV,
Bloomberg Businessweek, Bloomberg
Intelligence, Bloomberg Economics,
BloombergNEF, and Bloomberg LP.Editor-in-Chief
John Micklethwait
Deputy Editor-in-Chief
Reto Gregori
Advisory Board
Chris Collins, Tina Davis,
Caroline Gage, David Gillen,
Chris Nagi, Jenny Paris,
Marty Schenker, Joe Weisenthal
Creative Director
Christopher Nosenzo
Photo Director
Donna Cohen
Managing Editor
Kristin Powers
Copy Chief
Lourdes Valeriano
Copy Editors
Mark Leydorf, Anne Newman
Production Manager
Susan Fingerhut
Map Manager
Ilse Walton
Production Associate
Loly ChanHead of U.S. Sales
Anthony DeMaio /
1 646 324-
Head of Europe Sales
Damian Douglas / 44 20 3525-
Head of APAC Sales
Mark Froude / 65 6499-
Production/Operations
Steven DiSalvo, Debra Foley,
Thomas Gambardella, Dan Leach,
Daniel W. Murphy,
Carol Nelson, Bernie Schraml
Chief Commercial Officer
Andrew Benett / 1 212 617-[email protected]The Energy
Issue
Markets use energy and trade energy. But what kinds,
at what prices, and at what cost to the planet? Those
questions fueled the Energy Issue’s trip around the world.
To get the answers, we joined with Bloomberg News’s
energy teams and BloombergNEF, Bloomberg LP’s
primary research service on energy transition.
Guyana, South America’s only English-speaking
country, has fewer than 1 million people. Most are very
poor. A huge oil discovery offshore will soon gush money
for Exxon Mobil Corp. But what about the Guyanese
people? Kevin Crowley takes a look in “There Will Be
Oil” (page 50).
Pakistan, also impoverished, needs cheap power
for the world’s fifth-largest population. With support from
China, it’s still mining coal. In “Where Coal Won’t Die”
(page 62), Adam Majendie and Faseeh Mangi investi-
gate Asia’s coal addiction. (Michael Bloomberg, founder
and majority owner of Bloomberg LP, which owns
Bloomberg Markets, has committed $500 million to help
phase out U.S. coal-fired power plants by 2030.)
Wind and solar power, niche sources of energy in
most of the world, are finally inexpensive enough to start
taking significant market share. BloombergNEF’s New
Energy Outlook, released in June, forecasts that almost
half the world’s electricity will come from the sun or
wind by 2050. “Energy Outlook” (page 44) provides some
key findings from that report and other sources.
Wind and sun can’t provide a constant stream of
energy the way oil and gas do—unless their power is
stored in batteries. As batteries get cheaper and more
powerful, carmakers, oil companies, and even utilities are
starting to invest. David Stringer caught a glimpse of
the future in Byron Bay, Australia, as he writes in “Power
to the People” (page 56).
Denmark’s Vestas Wind Systems A/S is riding a
boom in demand for wind turbines. But it’s just one of the
renewable energy-related businesses in Aarhus, the
country’s second-largest city. Lars Paulsson visited to
learn more in “Trade Winds” (page 72).
We hope you find the issue informative and
thought-provoking. As always, we welcome any feedback.
Christine Harper, Editor