Research Team

Resumés of eUtah Research Team
Energy-related short C.V. of Arjun Makhijani
President, Institute for Energy and Environmental Research
Arjun Makhijani is president of the Institute for Energy and Environmental Research
(IEER) in Takoma Park, Maryland. He received his Ph.D. in 1972 from the Electrical
Engineering Department of the University of California at Berkeley, where he specialized
in the application of plasma physics to controlled nuclear fusion. Some of his energyrelated accomplishments are listed below:
 Principal author of the first study ever done on energy efficiency in the U.S.
economy (An Assessment of Energy and Materials Utilization in the U.S.A.,
University of California Electronics Research Laboratory, Berkeley, 1971).
 One of the key scientific staff members of the Energy Policy Project of the Ford
Foundation (1972-1974), whose report, A Time to Choose: America’s Energy
Future, became the foundation of President Carter’s energy policy, according to
the Project’s Director, S. David Freeman. Mr. Freeman was Deputy Secretary of
Energy under President Carter, who later appointed him Chairman of the
Tennessee Valley Authority. The combined study of energy efficiency and policy
during the project provided a central element in the public discourse on energy
policy during the first energy crisis of 1973-1974.
 He has worked as an engineer in industry (Assistant Electrical Engineer, Kaiser
Engineers, 1969-1970).
 Taught senior level electronics courses to students mainly working in or interested
in working in industry (Capitol College, 1983-1988, part-time in 1988).
 Co-author of a 1976 report prepared at the Lawrence Berkeley Laboratory,
containing an economic model of investment planning in the electricity sector that
forecast the reduction of the ratio of the growth rates of electricity to GDP and the
crisis that would result if unneeded capital intensive plants were built. (Investment
Planning in the Energy Sector, Lawrence Berkeley Laboratory, Berkeley, 1976)
 Principal author of the first comprehensive assessment of energy in the rural areas
of developing countries (Energy and Agriculture in the Third World, Ballinger
 Consultant on energy issues to the Tennessee Valley Authority, Lower Colorado
River Authority, Edison Electric Institute, and several United Nations
organizations (United Nations Development Programme, Economic and Social
Commission for Asia and the Pacific, United Nations Environment Programme,
Food and Agriculture Organization).
 Author of Securing the Energy Future of the United States (2001), and principal
author of Cash Crop on the Wind Farm (2004), which was presented at the North
American Energy Summit in Albuquerque, sponsored by the Western Governors’
 Author or co-author of many other articles and reports on energy-related issues
Other brief highlights: Arjun Makhijani was a Visiting Professor at the National Institute
of Bank Management in Bombay, India (1978-79), working mainly to evaluate rural
development programs. He has served on the Radiation Advisory Committee of the
Environmental Protection Agency (1992-1994) as well as other official advisory
committees. He has testified before Congress, appeared on CBS and ABC national
evening news programs, CNN International, NPR All Things Considered, BBC World
News, CBS 60 Minutes, and many other television and radio programs. He has written
for the Bulletin of the Atomic Scientists, the New York Times, the Washington Post,
MIT’s alumni magazine Technology Review, and other newspapers and magazines. He
has also done many studies on the health and environmental effects of nuclear weapons
production. He is a member of the Institute of Electrical and Electronics Engineers and
its Power Engineering Society, the American Physical Society, the Health Physics
Society, and the American Association for the Advancement of Science.
A longer C.V., with a partial list of publications is available at:
Arjun Makhijani can be reached by e-mail at
Donald L. Adolphson
Professor, Romney Institute of Public Management
Brigham Young University, Provo Utah 88602
801 422 2433 (w) or 801 673 2130(c),
Employment Summary
 1996 – Present: Professor of Public Management, Romney Institute of
 Public Management, Brigham Young University
 1981 – 1996: Associate, then Full Professor of Business Management, Brigham
Young University.
 1970 – 1981: Assistant, then Associate Professor of Quantitative Methods,
Department of Finance, Business Economics, and Quantitative Methods.
 1968-1973: PhD, Department of Computer Sciences, University of Wisconsin,
 1966 – 1968. MS, Department of Computer Sciences, University of Wisconsin,
 1962-1966: BA, Mathematics, University of California, Berkeley
 Boeing Computer Services
 AT&T
 Other small local companies
 Book reviewer for several textbook publishers
Professional Interests
 My early professional work, building off of my math and computer science
training, was focused on applications of Management Science Decision models,
and on designing algorithms and developing computer software to implement
these decision making models. These models were mostly in the area of
optimization models
 After my move to Brigham Young University in 1981, my focus began to shift
away from highly complex computational optimization models to more
application oriented, easier to implement decision models for the everyday
 Over the last decade, I developed a highly-regarded Excel Based Decision
Analysis Class that prepares our Public Managers to become more effective
decision makers. This class has been regarded by MPA students as their most
valuable class for several years. The main analytic tools covered in the Excel base
course are Monte Carlo Simulation, Analytic Hierarchy Process, Expected Utility
Analysis, and Constrained Optimization modeling. Excel provides an excellent
environment for students to learn and apply these tools in a familiar setting of a
 Application of these tools to energy and environmental issues is a strong interest
in my later career. Linking the practical to the theoretical has been a strong and
growing interest through my career.
Bernell K. Stone
Harold F. Silver Professor of Finance, Marriott School of Management, BYU
(801) 422-2295 or
 Bernell K. Stone is a Phi Beta Kappa, Magna Cum Laude graduate of Duke
University (B.S. physics, 1964).
 He has an M.S. in Physics (University of Wisconsin 1966),
 Bernell K. Stone received his Ph.D. in Applied Mathematics and Management
from M.I.T.
Employment Summary
 Bernell K. Stone is the Harold F. Silver Professor of Finance in The Marriott
School of Management at Brigham Young University (1986-date).
 Bernell K. Stone was cofounder and President-CEO of Condon Computer Utilities
(1967-1970). Codon, which took M.I.T time sharing technology and applications
software to the public, was one of the nation’s first computer time sharing firms.
 Bernell K. Stone served on the faculty at Cornell University (1970-1976). At
Cornell, he was an active participant in both the Cornell Energy Project (primary
funding from NSF) and the Ford Foundation Energy Policy Project. The
monograph Financing the Energy Industry (coauthored with Jerome E. Hass and
Edward J. Mitchell, 1974) arose from this work.
 In fall 1975, Dr. Stone was appointed Mills B. Lane Professor of Banking in the
College of Management, Georgia Institute of Technology. While at Georgia
Tech, he was an adjunct scholar for the Heritage Foundation, a founding member
of the National SDI Committee (Strategic Defense Imitative), the founder and
principle instructor for a banking school for the Georgia Community Bankers
Association (which evolved into the Southwestern Banking School), the founding
executive director for the National Corporate Cash Management Association
(which has evolved into the Association for Finance Professionals, the principal
professional association for corporate and financial services finance practitioners),
the founding editor for The Journal of Cash Management (1980-1983), and the
founding editor and principle writer for The NCCMA Newsletter (!981-1983).
 In addition to being the founding editor of both The Journal of Cash Management
and the NCCMA Newsletter, he has been an associate editor or editorial board
member for six finance journals including being an associate editor of Financial
Management (1973-1980) and Journal of Financial and Quantitative Analysis
(1972-1983). He continues to serve as an associate editor for Advances in
Working Capital Research (1986-date).
Energy-Related Interests
Dr. Stone’s two hundred plus publications include two books in the energy area.
Financing the Energy Industry (coauthored with Jerome E. Hass and Edward J. Mitchell,
1974) is an industry financial model for each of the following energy industry segments:
coal, gas, petroleum, the then-emerging nuclear industry, and electric utilities. The
electric utility industry was the subject of several chapters with particular attention paid
to required capital investment, industry cash flow generation, external financing
requirements, and likely financing capacity. In addition to addressing particular public
policy issues of the early 1970s, this work contributed to methodology by shifting the
focus of energy industry policy analysis from econometric modeling of summary
statistics to modeling industry-level consolidated financial statements.
In contrast to the industry level modeling and consolidation into an overall energy
industry, Petroleum Divestiture (Miami Law and Economics Center, 1978) is a segmentlevel model of the petroleum industry with the focus being realistic modeling of segmentlevel capital investment and cross-segment cash flows. Contrary to the assumption
implicit in several bills proposing forced divestiture of refinery-marketing from
exploration-production, this work showed that within-company segment cash flows for
each of the integrated petroleum companies were, on average, from refinery-marketing
into exploration-production. Since these facts contradicted the widely held but wrong
assumption of downstream cross-subsidization, these bills died a quick death.