All photographs in this calendar were taken by TLG staff and associates.
Sometimes policy appears to target symptoms rather than causes; better policy comes from addressing fundamental issues.
China's shale gas has received plenty of attention, but it is incentives and policies that are needed to ramp up production.
Regulated gas prices have stymied exploration, requiring expensive imports to satisfy demand and leaving open the question of how to close the price gap.
Is shifting the fuel mix from coal to gas the solution for China, or are there smarter and more cost-effective routes to cleaner skies?
Singapore's genco transactions assumed a rosy future but suffered when prices fell; fundamental analysis can tease out reality from optimism.
Winner's curse can be a problem in any valuation, but confronting internal biases and engaging in objective reviews can mitigate the risks.
Good policy comes not from guessing the future but from basing decisions on robust analysis: understanding value and assessing relevant costs.