Sarah Emerson

Sarah Emerson

President, Energy Security Analysis, Inc and Managing Principal, ESAI Energy, LLC

Sarah Emerson joined ESAI when the petroleum consulting practice was launched in 1986. She is currently President of ESAI and a principal in ESAI Energy, LLC, which conducts research and consulting on global petroleum and liquid fuels markets.

As Managing Principal of ESAI’s Petroleum and Alternative Fuels practice, Ms. Emerson has developed many of ESAI’s unique analytical tools for assessing the oil market and forecasting oil prices. In addition, she has supervised the development of an empirical source database of monthly oil data that cover the period January 1978 to present for every country in the world with particular focus on non-OECD countries. More broadly, she has conducted several industry studies on a diverse range of topics, such as the transfer of pollution in energy trade, the profitability of Asian refining, the future of the Asian bitumen market, petroleum product markets in the Indian Ocean, Strategic Petroleum Reserves, the outlook for global automotive fuel markets, GHG Emissions from gasoline and diesel production, and the future of the Russian refining industry. In 1992, she published the first description ever available in the West of the Russian refining sector.

Ms. Emerson is an expert witness in energy sector litigation, an adviser to the U.S. and Japanese governments on energy security issues, and a reader/commenter for the Intergovernmental Panel on Climate Change (IPCC) Fourth Assessment Report. She has testified before the Senate Energy Committee and regularly publishes articles in the energy trade press.

Ms. Emerson is a member of the Cornell University Council. She was a 2004 Key Women in Energy Honoree. In 2004 and 2005, she was the Repsol-YPF Senior Fellow at the Center of Business and Government at Harvard University where she conducted research on the oil markets and energy policy. She received her B.A. from Cornell University and her M.A. from the Johns Hopkins University Nitze School of Advanced International Studies.

Andrew Reed


Andrew Reed joined ESAI in 2007 and became Principal of ESAI Energy LLC in 2009. Mr. Reed is a specialist in Russian and Caspian energy with considerable experience living and working in that region and speaks fluent Russian. Prior to joining ESAI Energy, he was director of research at a risk management company specializing in the Russian energy sector. Mr. Reed performs oil market analysis and petroleum product price forecasting, and is editor of the NGL Outlook, a monthly forecast and analysis of the North American supply, demand and flows of ethane, propane, butane and C5+ with a highlight of a selected region’s infrastructure. His expertise includes analysis of the global petroleum product markets and Russia/Caspian energy. Andrew has authored several industry studies on crude oil, petroleum product and nonconventional fuel markets. He also speaks at conferences on crude and petroleum product markets and is frequently quoted in the press. Mr. Reed completed his undergraduate studies at Skidmore College. In 2000, he received a M.A. in International Economics and Russian Area Studies from The Johns Hopkins University Paul H. Nitze School of Advanced International Studies. In 2007, he received a Certificate in Investment from The Johns Hopkins University Carey Business School.