May 8, 2006
Anadarko CEO Discusses Energy Crisis, Offers Advice to
Students
by Laura Griffin
There is a tide in the affairs of men
Which, taken at the flood leads on to fortune;
Omitted, all the voyage of their life
Is bound in shallows and in miseries.
On such a full sea are we now afloat;
And we must take the current when it serves,
Or lose our ventures.
—Brutus
Julius Caesar, Act IV, scene iii
On April 27, in the final installment of the spring 2006 VIP Speaker
Series, Jim Hackett, chairman, president and CEO of Houston-based
Anadarko Petroleum Corporation, offered career advice to students,
and used excerpts from great literature—including the above excerpt
from Shakespeare’s Julius Caesar—to describe his leadership and
business philosophies. “Finding success depends on your willingness
to take the risk and jump into the flood,” Hackett said.
Anadarko Petroleum Corporation boasts a market capital of $24
billion and operates in 14 countries, but employs just 3,300 people
worldwide. “We run a highly capital intensive business with a global
focus on a very important asset: people,” Hackett said, noting that
one of the ideals most important to Anadarko’s corporate culture is
to value people as a competitive edge.
Balancing both a professional and family life is difficult for many
executives, and Hackett warned about this delicate balance. “If
someone tells you that you can easily have an A job and a family,
they’re not being truthful,” he said. “It is very difficult, but it
can be done.” Hackett advised students to find a great partner and
friends to help achieve that balance.
Hackett also offered ample advice on how to be an effective leader.
While inspiring others, communicating a vision and getting results
are important, he believes not being afraid to hire people smarter
than yourself and maintaining integrity are critical. “Integrity is
by far the most valuable and impression-making form of leadership,”
he said.
The second portion of his presentation featured an audience Q&A
session focused on the future of the energy industry. After
discussing a few of the limitations of ethanol and wind power,
Hackett emphasized that oil will be phased out as our primary source
of fuel, probably in the next 50 years, and that more research is
crucial. Conservation is, in his mind, a key concept.
“We need a major shift in mindset before anything will really
change,” he said. “In my experience, in this country things have to
get desperate for that to happen.” He believes that, similar to the
oil crises in the 1970s, that realization will hit when oil prices
reach $160 per barrel.
Hackett remains optimistic, however, both for the future of his
company, the energy industry and the state of the environment.
“Outside of clean air and water, shelter, and an abundance of food,
our most important commodity is energy,” he concluded.
For information on specific programs at the McCombs School, consult our contacts page. For media information, contact the Communications Director by phone at 512-471-3314 or by email at CommunicationsDirector@mccombs.utexas.edu.
