ap

Skip to content
Peering into the energy future
Sunday, April 26th 2026

Trending:

Business

Peering into the energy future

VIJAY V. VAITHEESWARAN is a global correspondent for The Economist. He joined the magazineÕs staff as the London-based Latin America Correspondent in 1992. Two years later, he opened its first bureau in that region in Mexico City. He wrote about political, financial and cultural developments in that part of the world until 1997, when he returned to the editorial headquarters in London. As the newspaperÕs Global Environment & Energy Correspondent, he covered the politics, economics, business and technology involved in those topics from 1998 to 2006. Vijay is a term member of the Council on Foreign Relations. He has lectured at Stanford, Yale and Oxford, and is an adjunct faculty member at New York University. He is a commentator on NPR and Marketplace radio, and a regular guest on the BBC, PBSÕs NewsHour, ABCÕs Nightline and other television programs. He is also the author of a book on the future of energy, ÒPOWER TO THE PEOPLE: How the Coming Energy Revolution will Transform an Industry, Change our Lives, and Maybe Even Save the PlanetÓ (www.vijaytothepeople.com). HarvardÕs John Holdren, reviewing the book in Scientific American, called it Òby far the most helpful, entertaining, up-to-date and accessible treatment of the energy-economy-environment problematique available.Ó Vijay holds a degree in mechanical engineering from the Massachusetts Institute of Technology. He lives in New York.
VIJAY V. VAITHEESWARAN is a global correspondent for The Economist. He joined the magazineÕs staff as the London-based Latin America Correspondent in 1992. Two years later, he opened its first bureau in that region in Mexico City. He wrote about political, financial and cultural developments in that part of the world until 1997, when he returned to the editorial headquarters in London. As the newspaperÕs Global Environment & Energy Correspondent, he covered the politics, economics, business and technology involved in those topics from 1998 to 2006. Vijay is a term member of the Council on Foreign Relations. He has lectured at Stanford, Yale and Oxford, and is an adjunct faculty member at New York University. He is a commentator on NPR and Marketplace radio, and a regular guest on the BBC, PBSÕs NewsHour, ABCÕs Nightline and other television programs. He is also the author of a book on the future of energy, ÒPOWER TO THE PEOPLE: How the Coming Energy Revolution will Transform an Industry, Change our Lives, and Maybe Even Save the PlanetÓ (www.vijaytothepeople.com). HarvardÕs John Holdren, reviewing the book in Scientific American, called it Òby far the most helpful, entertaining, up-to-date and accessible treatment of the energy-economy-environment problematique available.Ó Vijay holds a degree in mechanical engineering from the Massachusetts Institute of Technology. He lives in New York.
Author
By | The Denver Post
PUBLISHED: | UPDATED:
Getting your player ready...

The energy correspondent for The Economist magazine said Friday that the world’s energy system is unsustainable and dangerous.

Vijay Vaitheeswaran also expressed optimism that renewable energies will soon replace oil. He spoke during a luncheon speech hosted by TiE-Rockies, a networking group for entrepreneurs.

Vaitheeswaran challenged a group of about 120 local energy executives and entrepreneurs to develop Colorado into a hub for alternative energy.

“Colorado has all the endowments to be a leading force,” he said. “This is the great new industry of the 21st century, and Colorado has to decide whether it wants to lead or whether it wants to follow.”

Vaitheeswaran moderated a panel discussion with representatives from Xcel Energy, the governor’s office and several renewable-energy companies talking about how Colorado is leading the push toward renewable sources such as wind and solar power.

Vaitheeswaran said the energy market needs more diversity and fewer monopolies so that competition will spur innovation.

He said energy companies don’t spend enough on research and development – only 0.5 percent of their profits, compared with the standard of 10 percent to 15 percent for other industries.

Representing Xcel Energy, Fred Stoffel admitted the company does not spend much on research and development but said Xcel is committed to pursuing more sources of renewable energy.

“We have been the dinosaur,” said Stoffel, who also emphasized the company’s effort to be environmentally conscious. “We’re dedicated to changing our portfolio to include more renewable energies.”

The Public Utilities Commission, which regulates Xcel, recently claimed in a complaint that Xcel will be 431 megawatts short of its energy needs by 2013 and may have to build a coal- fired power plant. One megawatt serves about 1,000 customers.

Xcel argues that it will have enough energy by using renewable energy sources.

Vaitheeswaran said after his speech that the PUC needs to look into decreasing demand instead of building more power plants. He also said that, as with most technology, sources of alternative energy may increase exponentially, meaning Xcel might be able to meet its needs without building a coal-fired plant.

“Historically, we’ve immediately said, ‘We need to add a power plant,”‘ Vaitheeswaran said. “That shouldn’t be the first answer. That should be the last answer.”

Staff writer Zach Fox can be reached at 303-954-1755 or zfox@denverpost.com.

RevContent Feed

More in Business