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|Articles - May 2011|
|Wednesday, April 20, 2011|
Page 5 of 5Industry players range from cautiously optimistic to concerned about the state’s planning process as it appears increasingly open-ended. Though all say they support the planning, and that a completed plan will have benefits — chiefly a level of certainty in permitting that’s likely to play well with investors — there is grumbling about the lack of a deadline, a basic industry need.
Justin Klure, a partner with Pacific Energy Ventures in Portland, works with several ocean energy clients at different levels of commercialization.
Developers such as Mike Morrow, a principal at M3 Wave Energy in Salem, are content with a long-term vision. M3 Wave Energy is testing a submerged power device that won’t hit the water soon. Any delay in the state’s ocean zoning plan gives his company more time to network with other ocean users, whose support he views as key to their success.
“I couldn’t take a map and put a bunch of pennies on the places that we would like to develop because there are just so many things that we don’t know yet,” says Morrow.
DLCD’s Klarin is keenly aware that some wave-energy companies are still developing technology. And that some will never have a successful water launch, like Vancouver, B.C.-based Finavera Renewables, which sank a buoy off the coast of Lincoln City before changing its name to Finavera Wind Energy in February and concentrating efforts elsewhere. Klarin notes that ocean energy companies also face hurdles in raising capital, building infrastructure and competing with other power sources, many of them cheaper.
“That’s why I don’t feel an urgency to get something done tomorrow,” says Klarin. “Our plan will be sitting around waiting for all that stuff to happen for quite a while.”
Klarin is also frustrated with developers’ approach to Oregon. “They want fast-track easy [permits]," a lower bar on environmetal reviews and regulations, and subsidies. In summary, he says, their message to the state has been, “Give us a free hand and all the money in the world and maybe we’ll do something that will benefit you.”
Yet recent activity from Oregon’s most successful wave-energy developer and also the least encumbered, OPT, shows that waiting poses real risks to jobs and economic health by stifling opportunity in an industry that clearly has room to grow.
Well capitalized from its first public offering in 2007, OPT recently contracted with Oregon Iron Works for a multimillion-dollar project to build its first 200-ton buoy. Though the contract amount was not disclosed, Bob Lurie, vice president of North America for Business Development, says it created 35 jobs at Oregon Iron Works. Once built, the buoy will need two other Oregon companies — American Bridge and Sauce Brothers — to moor, deploy and maintain it.
The project ties OPT to Oregon for a long while. But with buoys already in the water in Hawaii and other projects in the works in Scotland, Japan and Australia, OPT illustrates how wave energy companies can and do operate in the most inviting markets.
“We can say that we’ve been impressed with the earnest effort that the state is making to try to accommodate wave energy and also work with all the stakeholders to make sure it is being done in a responsible way,” says Lurie.
Though OPT will not be affected by delays in planning, he says, the goal of state planning was to create a process for developing ocean energy, something continued delays fail to offer.
Oregon House co-speaker Arnie Roblan (D-Coos Bay/Florence) says capturing the wave-energy industry remains a high priority for Oregon, as evident in the years of planning and tremendous energy directed at forming OWET. He says it’s important to have a clear understanding of current ocean users as energy opportunities are planned for, and to protect all ocean stakeholders moving forward.
“As we embark on the final stages of the sea-mapping plan,” he says, “I am confident we can address the issues raised and we’ll continue to work to keep this new industry as a vital part of Oregon’s future.”
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
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BY TOM COX | OB BLOGGER
Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Friday, August 22, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
When business intersects with family, a host of situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Monday, July 14, 2014
BY TERRY "STARBUCKER" ST. MARIE
I really didn’t know that much about angel investing, but I did know a lot about the entrepreneurial spirit.
Thursday, July 10, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.
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