|By Marketwired .||
|April 3, 2014 06:00 AM EDT||
NEW ORLEANS, LA -- (Marketwired) -- 04/03/14 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- As the Electric Power Conference & Exhibition winds down on Thursday in New Orleans, we at Industrial Info have had a great time at our Market Outlook sessions and at our networking event on Wednesday, and have enjoyed meeting those who have stopped by our booth. With a combination of large sessions that filled an auditorium, and several breakout sessions covering 10 different tracks from emergency response to environmental compliance, there is a tremendous amount of information flowing from the conference side of the show.
One of this year's keynote speakers was Rod West, executive vice president and chief administrative officer for integrated energy company and electric power provider Entergy Corporation (NYSE:ETR) (New Orleans, Louisiana). West's speech, "Utility Investment Decisions in an Age of Catastrophic Events," focused on an issue that Entergy, which has key assets along the U.S. Gulf Coast region and Northeast, has become all too familiar with in recent years. Disasters such as Superstorm Sandy and hurricanes Katrina, Ike and others have wreaked havoc on the company's facilities.
Avoiding any debate about climate change and weather patterns, West presented the facts, plain and simple: In the 1980s, there was, on average, one weather event exceeding $1 billion in cumulative losses each year in the entire U.S. In the 1990s, this went up to two events per year. In the 2000s, there were an average of five such events per year, and the 2010s has brought an average of about 11 events.
While such incidents are tragedies for those who are directly affected, West noted that the economic consequences in heavily industrialized areas, such as the Gulf Coast, which is prone to hurricanes and an ever-diminishing wetlands area, are devastating to the entire U.S. economy. West noted that the Gulf Coast region is home to almost half of the U.S. refining capacity and $2 trillion of assets. With the current planned construction of LNG, petrochemical, and other facilities, another $1 trillion worth of assets is expected to be added to the region by 2030.
"This is not just a utility issue, it is an economy-wide issue," West said.
On the whole, because of the value of its industrial asset base and the proneness to weather-related incidents, approximately 7% to 8% of investment made in the Gulf Coast region is spent on mitigating losses, most of which are caused by thunderstorms, winds and tornados, as opposed to making other growth investments.
West pointed out that while utilities can play a big part in investing in damage prevention, the problem of weather-related risk mitigation is ultimately one that must be embraced by the entire industrial sector and communities as a whole. West said that following Hurricane Rita in 2005, it took four weeks to restore the transmission infrastructure of the Sabine Cogeneration Power Plant (Orange, Texas), which had been knocked out. The surrounding areas were badly affected; employees at a nearby petrochemical plant were without work for a significant period of time.
Fast-forward three years later to Hurricane Ike, and the power transmission and distribution infrastructure of the Sabine plant held up well in sustained 90-mile-an-hour winds due to the investments made after Rita. However, the petrochemical plant was badly flooded and had ceased operations. People were again forced to stop working, and Entergy was without a customer until repairs could bring the plant back online.
While large risk mitigation projects, such as the restoration of wetlands, are extremely expensive, they are almost certainly worth it. Wetlands act as a first line of defense against flood surges and allow other structures, such as levies, to be the second tier.
"The costs of inaction are far more expensive than the investments we choose to make today," West said. And as continued investment in large-scale industrial projects along the Gulf Coast is set to greatly expand in the coming years, an ounce of prevention should certainly be on the radar for these project owners and the surrounding communities that rely on these facilities for jobs and economic growth.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Feb. 27, 2017 08:30 PM EST Reads: 767
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
Feb. 27, 2017 08:00 PM EST Reads: 7,942
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Feb. 27, 2017 07:45 PM EST Reads: 1,565
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Feb. 27, 2017 07:45 PM EST Reads: 7,350
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 27, 2017 07:30 PM EST Reads: 2,234
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
Feb. 27, 2017 07:15 PM EST Reads: 1,931
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Feb. 27, 2017 07:00 PM EST Reads: 2,583
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
Feb. 27, 2017 07:00 PM EST Reads: 2,164
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Feb. 27, 2017 06:45 PM EST Reads: 2,229
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Feb. 27, 2017 06:30 PM EST Reads: 2,111
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Feb. 27, 2017 06:15 PM EST Reads: 8,296
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Feb. 27, 2017 06:15 PM EST Reads: 454
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Feb. 27, 2017 05:45 PM EST Reads: 634
Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said "No to LUNs." With Tintri they manage only virtual machines, in a fraction of the footprint and at far lower cost than conventional storage. Tintri offers the choice of all-flash or hybrid-flash platform, converged or stand-alone structure and any hypervisor. Rather than obsess with storage, leaders focus on the business app...
Feb. 27, 2017 05:30 PM EST Reads: 503
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Feb. 27, 2017 05:30 PM EST Reads: 594