Quanta Services CEO Jim O'Neil Featured as Speaker

Jan 23, 2015

NEW ORLEANS, LA, USA - The World Trade Center New Orleans welcomed its fourth guest of the 2014 Executive Speaker Series, CEO and President of Quanta Services, Jim O’Neil, on December 17th at the Canal Westin Hotel. Jim O'Neil shared with the audience his perspectives into the energy infrastructure of the electric power sector and the oil and gas sector of the 21st century.

Quanta Services is the premier provider of engineering, procurement and construction services for comprehensive infrastructure needs in the electric power and oil and natural gas industries with offices across North America and abroad.

Quanta Services is the largest electric transmission and distribution and pipeline specialty contractor in North America.

Electric power is the main reason that Quanta Services was founded and in his presentation O’Neil expressed its importance to the US economy. “The investment required by the US is up to $2 trillion for the generation, transmission, and distribution of electric power by 2030,” Jim said.

O’Neil also said, “The greatest transformation for electric power will take place at the distribution level. The analog world of our past has been replaced by a digital world, and we must ready the grid to accommodate.”

He told the audience that there is growth in renewable and natural gas, creating a lower market for natural gas and putting stress on alternative forms of power such as coal. While the renewable resources, solar and wind generation, are expected to grow annually at 7% and 3% respectively through 2040.

According to Jim O’Neil, the oil and gas sector in the US will also depend on investment in development and infrastructure. The investment required for North America will be over $300 billion in mainstream pipeline infrastructure alone by 2035.

“For the first time since the 1930’s, we are consuming more oil domestically than what we export. We are not as dependent on Middle Eastern oil because of shale gas and liquids which have grown dramatically and are expected to grow for many years. There has been a significant increase in Canadian oil sand production, and that will require pipeline capacity,” O’Neil said.

Jim O’Neil concluded by saying, “These are unprecedented times for the energy industry. Our country has a foreseeable path to United States energy security and independence. I think that we will approach an enviable energy position in the US.”

To view images from the event, click here 

(PHOTO:  Jim O'Neil, CEO, Quanta Services)