MESSAGE
FROM THE CHAIRPERSON OF PURNOMO YUSGIANTORO CENTER

It has been an exhilarating time for us as we kicked off our first two Focus Group Discussions (FGDs) in the second quarter of 2017. Both events welcomed such amazing cohort of bright participants in the attendance whose enthusiasm and passion shining through the entire discussion. Our very first FGD brought up the theme of energy and environment in the perspective of younger generation. The discussion involved the representatives of Indonesian millennial generation where they voiced their concerns on the issues. Meanwhile, the second FGD was attended by a different profile of participants, as the discussion aimed to explore the kind of women’s role in the energy sector. Overall, both FGDs have sparked some very fruitful discussions among attendants, in which they have contributed greatly to the energy issues. More detailed outcomes from these two events can be found on our website in the events section. We give thanks to Mr. Luky Yusgiantoro (PYC), Mrs. Evita Legowo (Swiss German University), Mrs. Lina Moeis (Yayasan Rumah Energi), Mrs. Emilia Emil (EASCO Petroleum), Mrs. Maria Soetopo (UPH-Institute of Economic Analysis of Law and Policy), and Ms. Maulin Hidayah (IBEKA) for their valuable insights during their role as prominent speakers in our FGDs.

This month, we also share the moment of PYC 1st anniversary celebration with a group of elders at Tresna Werdha Caritas eldercare located in Bekasi.  In the same day, we also celebrate the birthday of our Center’s founder, Prof. Purnomo Yusgiantoro. It was a simple yet blessed celebration for PYC as we give our time and joy to these elders.

With regards to the research, we are excited that we will have new research collaborations with several institutions beginning in the next quarter. Please stay informed on our expanding research collaboration through our social media platforms.

Lastly, on behalf of Purnomo Yusgiantoro Center, we wish you a Happy Eid Mubarak 1438 H and safe, restful holidays.

PAST EVENT
PYC 1ST FOCUS GROUP DISCUSSION (FGD)
MAY 6, 2017
“ENERGY AND ENVIRONMENT: A MILLENNIAL PERSPECTIVE”

The 1st Focus Group Discussion (FGD) was successfully held on May 6, 2017. Prof. Purnomo Yusgiantoro, as the founder of the Center, inspired attendees by explaining three major points: (1) the fact the energy and environment are inextricably related, (2) the necessity of eradicating basic poverty (as outlined in Maslow’s Hierarchy of Needs Model) to enable more awareness of people regarding the environment, and (3) the importance of youth role in advocating awareness for a sustainable development (definition as written in Brundtland report). The event was also attended by three prominent panelists: Mr. Luky Yusgiantoro (SKK Migas), Mrs. Lina Moeis (Yayasan Rumah Energi) and Ms. Maulin Hidayah (IBEKA and Surya Institute). They also provide valuable insights concerning on energy and environment, in particular in Indonesia. Participants further carried out their discussions to three main conclusions.

The first group of participants concluded a short initial stance that there has to be a firm decision by the government to take a side and stand behind the environmental protection as the heart of energy development. This “taking-side” behavior can then be defined in three forms i.e. incentive, capacity building as well as boosting the inter-sector cooperation, leading to the loosening of egoistical tension that prevalently exists in many parts of the government. When enacting sustainability inside the policy instrument, there should be three characteristics including consistency, continuity as well as enforcement spirit to smoothen the entire process. There can also be several breakthroughs than can be introduced in the policy such as environmental parallel (AMDAL) or carbon tax implementation in Indonesia.

The second group of participants proposed five components in analyzing energy poverty: availability, affordability, accessibility, acceptability, and sustainability. In terms of availability, the knowledge on how many energy storage and potential of the nation is important to be exactly known by stakeholders. Affordability can also be done through the social business such as Koperasi Masyarakat for energy. In the case of accessibility, the policy should always aim to evenly distribute the infrastructural building as well as the energy supply for the entire society. Acceptability is also such an important factor in improving energy poverty problem through awareness spreading as well education for a wider public. Last but not least, sustainability will ensure whether the whole process a healthy, sustainable move and for such, the development towards renewable energy should be always encouraged.

The third group of participants moved forward with their presentation on the roles of millennial on sustainable energy development. They divided their presentation into the kind of roles young generations can play for a sustainable energy as well as way to educate them regarding this issue. The roles can be done through diverse ways such as energy research and public education, campaigns for activities such as green development, energy conservation, and climate change prevention as well as the use of social medias to amplify the message. There are also some ways to educate the young people as well as general public regarding the issue such as energy ambassador program, television program, Youtube vlogging and videos, PYC involvement itself and many others. 

For more details about this event, please see on our website www.purnomoyusgiantorocenter.org.

PYC 2nd FOCUS GROUP DISCUSSION (FGD)
MAY 20, 2017
“WOMEN IN ENERGY”

The 2nd Focus Group Discussion of PYC’s topic about “Women in Energy” was held on National Awakening Day, the moment which was also still in midst of Kartini Day spirit celebrated some weeks before. Hence, the discussion was indeed timely to figure out the evolution of women’s role in energy and how it develops into the future. 

We had the privileged to have three prominent panelists: Dr. -Ing Evita Herawati Legowo (the Former Director General of Oil & GAs of the Ministry of Energy and Mineral Resources and a Lecturer at Swiss German University), Dr. Maria Soetopo (Co-Chair at Universitas Pelita Harapan – Institute for Economic Analysis of Law and Policy, UPH-IEALP), and Mrs. Emilia Emil (CEO of several oil/gas such as EASCO East Sepanjang and investment companies). The discussion was also enriched by the audience’s input from Mr. Paul Soetopo, a former Indonesian Central Bank Director, who gave several thoughts about his optimistic future view on women gaining more roles in the energy sector.

There are three main conclusions deriving from three groups of participants. The first group argued that technology could be the solution since it facilitates women to cope with physical ability especially in the fieldwork. As outlined in their presentation, the group gave an interesting example that in the future, women in oil exploration could work remotely from the office due to the data communication facility. The second group explained that empirically, women in rural area are the main actors in the family. Therefore, it is important to give them awareness about energy, such as energy saving or renewable energy potential in their area. While the third group argued that social media is also a perfect tool to spread many ideas about the importance of energy. They suggested the establishment of a digital forum that connects young people with mentors and experts in energy.

For more details about this event, please see in our website www.purnomoyusgiantorocenter.org.

Spreading Joy to Celebrate PYC's First Anniversary

The first anniversary of Purnomo Yusgiantoro Center (PYC) coincides with the 66th birthday of PYC founder, Prof. Purnomo Yusgiantoro. The anniversary is celebrated in the form of a social activity visit to one of the eldercares at Bekasi Timur, Tresna Werdha Caritas. There are 35 elderly women and 1 elderly man living in this eldercare, which is under the umbrella of Bina Bhakti Foundation that was established since 1999. The elders came from various foundations, churches, and or their family members.

The celebration began with a blessing from Father Antonius Doni, SVD from St. Arnold's Parish, Bekasi. The event continued with a welcome greeting from the Chairman of the PYC, Filda Yusgiantoro. Mrs. Lis Purnomo Yusgiantoro who is the originator idea of social activities at PYC also gave a speech in order to commemorate the 66th birthday of her husband, Prof. Purnomo Yusgiantoro.

The elders at Caritas Tresna Werdha were overcome with joy as they participated in singing some of their favorite songs. Mandarin and Javanese songs, as well as spiritual songs, were among them. Happy faces were seen through their faces as they sang together. PYC also provided charity goods and cash donations to help the needs of the elders at Caritas Tresna Werdha. 

Happy 1st Anniversary, PYC!

Happy Birthday to Prof. Purnomo Yusgiantoro too!

 

ACADEMIC CORNER
The Unpredictability of Oil Prices

Economic analysis is the cornerstone of most important decisions made by major energy stakeholders. The major component in conducting economic analysis is the price, which indicates the value of transaction conducted by consumer and supplier in a market at a particular time. However, the difficulty when studying the price is the inability of people to furnish the variables to properly predict the future price. Energy prices are reflected by oil prices because of the oil dominancy meeting the global energy consumption. In 2015, with the production of over 90 million barrel per day, the world is still relying heavily on oil as it contributes 32% of the global energy consumption. The dominancy of oil usage usually leads to the indexation to other energy prices, such as natural gas prices. There have been many academic studies that investigate the correlation of different oil prices with other variables. Furthermore, oil prices can be analyzed from different perspectives, such as from the history of oil prices, the OPEC vs. Market prices, short and long term prices, the different type of oil prices.

Nevertheless, the basic understanding of oil prices and their volatilities is a vital for parties participating on oil industries. The volatility of oil prices in the last few years has caused alarm to energy stakeholder as they steeply went down to below $30/barrel in early 2016. Currently the oil price is hovering between $40/barrel and $50/barrel but expected to keep going down because of global over-supply of oil. In the past, oil prices are less volatile and predictable because of the limited number of global oil producers, hence producers are price setter. The evolution of the global market and the existence of economic profit on the market conveys to the entrance of new oil players and the financial innovation to capture the rent of oil prices.

These days, even with the existence of OPEC, the global oil market can be considered as a competitive market. Therefore, oil producers and consumer are now price taker and

fluctuation of oil prices is simply caused by the changing of oil supply and demand. Oil producers want high prices and oil consumers want low prices. When attempting to analyze the behavior of oil prices, price elasticity of oil supply and demand matters. Price is elasticity reflects the percentage of change in quantity demanded or supplied caused by one percent change in prices. The oil demand and supply are impacted by different factors and they may be difference depending on the time length of the analysis.

In the short term, there are perceptions that the geopolitics and macroeconomic realms directly influence the oil prices. However, those aspects basically are embedded in the supply and demand of oil in the market. For example, a conflict between two countries leads to a shock on oil demand or a shock on oil supply, which trigger a fluctuation on oil prices. Normally, looking from the demand side, the short-term price elasticity for oil demand is low because the inability of oil consumers and producers to opt different energy resources in certain period. However, in the long run, the impact of low cost of oil substitutes, such as gas, coal and renewable energy, compels oil to be at edge the competitiveness and lead to the possibility low oil prices. Moreover, in the long run, the technology impacts the supply side by reducing or increasing the cost of finding and producing oil.

Ultimately, oil prices signal the global oil market condition as it indicates the scarcity of global oil resources to meet global oil demand and the capital allocation in the oil sector. In addition, oil prices reflect the confidence and foresight of stakeholders to be in the future oil market. The volatility of oil prices remains unpredictable. This leads to uncertainty on when the equilibrium will occur and at what price. Therefore, there is still much academic work and research needed to learn the behavior of oil prices and, essentially, to predict the trend of future oil prices.

NEW FACILITIES
PYC's New Classrooms

Our two classrooms are ready to be used. These classrooms, with each having a maximum capacity of 30 people, will hopefully enrich our programs in the future.

UPCOMING EVENT
PYC Junior Chess Championship
PYC JUNIOR CHESS CHAMPIONSHIP
COMING SOON IN AUGUST 2017

We are happy to announce another Junior Chess Championship in August 2017. The aim of this event is to commemorate the 72nd Indonesia Independence Day. This event is followed by our successful first junior chess championship in 2016 with participants in the age category below 7 years old (U7). There were 32 participants across Indonesia, with 50% of them coming from outside DKI Jakarta. We hope to see new participants as for this year, we plan to expand the age requirement of the competition, which will be opened for participants under 9 years old (U9). Requirements for registration can be seen in the second week of July 2017, via our website: www.purnomoyusgiantorocenter.org.

UPCOMING EVENT
International Energy Conference 2017
...

Our 1st edition of International Energy Conference 2017 by PYC is planned to take place this November. The conference will host some exciting programs such as Call for Paper and pre-event energy competitions (infographic, essay, and photo competitions) from which all of the interested applicants can join and be a part of the event. More updates will be available this July on www.pyc-conferences.org. Stay tuned and we look forward to seeing you there!

UPCOMING EVENT
Extended Submission Deadline for IJE

We have extended our deadline for abstract or/and paper submission until 30 November 2017. Please find details of submission on the information below.

IDUL FITRI 1438 H

 

We wish you a Happy Eid Mubarak and a restful holiday.

PYC will resume again on July 3, 2017.

Our gratitude to:

Mr. Luky Yusgiantoro

We appreciate his contribution on the academic corner of our e-newsletter.

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Purnomo Yusgiantoro Center

Copyright ©2017 PYC
Jalan Wijaya IX No. 12, Kebayoran Baru, Jakarta, 12160, Indonesia
Phone: +62 21 720 3917
Fax: +62 21 22 77 5786
Email: pyc@purnomoyusgiantorocenter.org

For more info:

EVENT     : event@purnomoyusgiantorocenter.org

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