Mark Hayes, PhD

Mark became IPER's second graduate in December 2006. Mark’s dissertation research focused on investment decision making in large cross-border energy trade infrastructures, particularly natural gas. The research examined the inter-play between private investors and host country governments as both seek to expand new gas transport projects. The problem has broader application than just natural gas-but much of Hayes' work is focused on this particular energy source. Feeding growing gas demand around the world will require many new investments in international gas transport infrastructures-either gas pipelines or liquefied natural gas tankers, and there are many questions facing governments and private players about if and how these investments can be realized.

Mark enrolled in a Ph.D. program at Stanford before IPER was created—attracted by the same faculty that would eventually found IPER.  Thus, it was no surprise when he was first to transfer into IPER when it launched in the Fall of 2002.  “I came to Stanford wanting to work on the policy dimensions of environmental problems—and when IPER opened up it was a natural fit,” says Hayes.

Immediately following graduation, Mark continued his research at Stanford as interim Executive Director of the Program on Energy and Sustainable Development (PESD). Mark has since left Stanford to work with RREEF Infrastructure, a group making private investments in power plants, ports, rail and other infrastructure assetsIn the long term, Mark hopes to bring his IPER skills to influence the energy policy debate.

Prior to coming to Stanford in 1999, Mark was a financial analyst with Morgan Stanley in New York City.  He was a member of the Global Power and Utilities Group, where he was involved in mergers and acquisitions, financing, and privatization of energy and water businesses.  In the Fall of 1996 Mark interned with the Harvard Institute for International Development in Moscow working with scholars advising on environmental policy for the Russian Federation.