Prof. Graham Weale has worked with all types of energy for more than 40 years. He teaches energy economics at the German Ruhr University in Bochum’s Center for Environmental Management, Resources, and Energy.
With his comprehensive knowledge of economics, energy policy, and technology, he is able to provide insightful analysis of energy trends and provide a welcome dose of reality check for governments’ lofty objectives. His ability to challenge the status quo and think outside the box makes him a highly sought-after guest speaker.
Prof. Weale, who is fluent in both English and German and travels as needed both inside and outside of Europe to deliver his presentations, lives and works in the industrial Ruhr region of Germany and has strong ties to both power firms and energy-intensive industry.
Below are highlights of the interview conducted between World’s Leaders and Graham Weale:
Describe who you are as a person, inside and outside of the workplace.
I am a very creative person with an insatiable curiosity to always learn more and have a passion for energy, which I have exercised for over 40 years. Having begun work as a physicist in the electronics industry, I decided to move into a career with a much stronger international dimension and made the transition into energy, starting with ExxonMobil, from which I never looked back.
Outside of the workplace, I am a very happily married man with two sons and two grandchildren. Music is my main hobby, and I play in Germany’s Management Symphony Orchestra as well as in a chamber music society which I founded.
I am also a committed Christian, and as a trained scientist, I find that my beliefs and science are in perfect harmony. With my wife, we are members of an Anglican Church in Düsseldorf and have also founded a German-speaking church which meets in our living room.
Describe your background and what did you do before you joined the Ruhr University Bochum?
After my education in science at Oxford and engineering, I worked in the downstream division of ExxonMobil, both in logistics and in one of the refineries. My major achievement during that time was introducing a system that greatly improved refining profitability.
My next move was to get an MBA specializing in economics and finance. This was the bridge to my subsequent career as an energy economist.
For 25 years, I worked as an energy consultant, finally as Director of European Consultancy for Global Insight, now part of Standard & Poors.
My consultancy work covered all forms of energy and I had clients in most European countries, including governments and the European permission.
It was the junction between technology and economics which particularly interested me, and I was credited as the first consultant to draw Europe’s attention to the potential for combined cycle gas plants, which I learned about whilst visiting Turkey, to make a major contribution to power generation.
My work on natural gas was particularly strong and I was frequently engaged as an expert witness in high-profile contract arbitration disputes.
In my early fifties, I was appointed Chief Economist of RWE AG, Germany’s largest power generator. This entailed leading a team to prepare the forecasts used for investment and contracting decisions and providing other advice to the Board. Towards the end of my time there, I was asked by the Chairman to establish connections with leading Think Tanks in other European countries and the USA in order to identify policy trends which could become important in the countries where RWE was operating.
Now, as Professor of Energy Economics and Policy, I bring my experience to bear on the current challenges facing Germany and Europe and also seek to inspire students to work in this sector. I belong to the inter-disciplinary Centre for Environmental Management, Resources and Energy CURE.
Alongside my academic role, I am also engaged as a guest speaker at company events or international conferences, where I seek to think outside the box and also to bring some necessary reality to current energy policies and targets. These speeches rely heavily on my cross-discipline background and knowledge of developments across a range of countries and energy types.
Tell us about the inception of the Ruhr University Bochum. How did it all start?
The Ruhr University was established in the 1960s as part of the major post-war expansion of tertiary education. It lies around #15 in the ranking and is notable for its austere concrete architecture, which stands in stark contrast to the beautiful buildings in Oxford, where I studied. The government at the time considered education was a great privilege and students should not be spoiled by the quality of their buildings!
What has made you successful? What do you value?
Several factors have contributed. First, I was fortunate to attend a very good private school with particularly good mathematics teaching, which provides such an important background for science and economics and teaches very rigorous thinking.
Second the combination of technological and business education gave me some unique insights into energy challenges.
Third, I have been very persistent and opportunistic. As an energy consultant, I travelled widely across Europe and the US, always to learn as much as I could and be able to inform clients of developments in other countries which could be relevant to them.
Which are the major services of the Ruhr University Bochum and how do the company to get ahead in the competition? What value-added services does the company provide?
The Ruhr University is a multi-faculty institution covering science, engineering, economics, medicine, law and other social sciences. Its inter-disciplinary capabilities are a particular source of strength.
What are the most important aspects of a Ruhr University Bochum’s culture? What principles do you believe in and how do you build this culture?
The main aspects are:
- striving for high academic standards, which can be measured i.a. by publication success.
- inspiring students and treating them fairly, avoiding any kind of discrimination.
What is the significance of innovative ideas in the Ruhr University Bochum?
Innovative ideas can lead to successful publications, but more importantly, to new inventions or concepts that can be applied to improve society and solve current problems.
Give us your opinion on; do organizations rely heavily on individual heroics or team processes.
It is both. Successful organisations need their share of star players, who, in the case of universities, may be brilliant thinkers or highly creative individuals. But teamwork is also important so that the whole is more productive than merely the sum of the parts.
What are your responsibilities as the Professor of the company? What is the happiest part of your daily routine?
I hold a series of lectures for M.Sc. students on Advanced Energy Economics, Policy, and Technology and supervise projects that I design to analyse current energy and environmental problems. In addition, I seek to publish academic papers and guest articles in quality newspapers.
What advice would you give someone going into a leadership position for the first time?
Be very clear about your strategy—what you want your team to achieve and how to do so. Seek to bring the best out of your team members and plan carefully how you will allocate their tasks. Inspire and encourage them and make the environment a place of fun which team members look forward to every day. Also, be willing to take tough decisions, including dealing fairly but robustly with underperformers.
