University of Calgary

Philip Verleger Jr. joins Haskayne School

September 4, 2008

Leading international oil and gas economist joins Haskayne faculty

Dr. Philip K. Verleger Jr., (left) one of the world’s preeminent academic analysts of oil markets, is now the David E. Mitchell/EnCana Professor in Management at the Haskayne School of Business. Verleger will teach in the MBA and Executive MBA programs and a new executive education energy program.

Verleger has correctly anticipated most of the major structural changes that have occurred in the oil industry over the last 25 years. In an article published recently in The International Economy Verleger wrote “the price of crude oil in the summer of 2008 should be $70 per barrel, not $140. The rise from $70 to $140 has not been caused by a shortage of crude. Instead, it has resulted from bad policies, bad luck, and incredible inattention to market details by certain officials.” Verleger’s bold statements about the conditions of the global international oil markets are heard around the world and now Haskayne’s students will have first hand access to his expertise.

“Dr. Verleger is one of the most significant hires in the history of the Haskayne School of Business,” says Dr. Leonard Waverman, Dean, Haskayne School of Business. “Given his background and historical perspective, Dr. Verleger will make a significant contribution to our students and the Calgary business community by raising the level of discussion around the issues facing the oil and gas industry.”

The author of over 100 articles and books on energy economics, Verleger has testified frequently as an expert witness for parties in private disputes and as an independent authority to the U.S. Congress. His testimony before Congress has addressed regulation, taxation, the behavior of markets and mergers.

“I am excited about joining the Haskayne School of Business. The school has developed an enviable reputation as a thought leader in the oil and gas sector,” says Verleger. “The tie-in with the local business community creates a synergy that will have long-term benefits for the industry.”

Verleger received his PhD in economics from the Massachusetts Institute of Technology in 1971. He has held positions at the president's Council of Economic Advisers, the U.S. Treasury, the Institute for International Economics, Yale University, the University of California and various firms in the private sector.

Verleger is now president of PKVerleger LLC, a firm that provides economic consulting to firms, governments and individuals on energy and commodity markets.

On September 4, Verleger will participate in a public panel discussion at the Nexen Annex in Calgary, Alberta with Peter Tertzakian, chief energy economist and managing director of ARC Financial Corp and Bruce Carson, senior advisor to the prime minister and executive director of the Canada School of Energy and Environment.

The Haskayne School of Business is an innovative business school with an international reputation for influencing the practice of management and leadership through quality teaching and research. With more than 3,000 students enrolled in bachelor's, master's, PhD and executive education programs, the school boasts 16,000 alumni in 60 countries.