Historically high commodities prices have put the spotlight on energy risk management practices, making it critical that organizations have optimum risk management programs in place. With this in mind, Energy Risk Magazine hosted its 11th annual conference in Houston on 14-17 May 2007 to examine trading and risk management and the latest innovations in North American power, natural gas, and oil. Participants discussed a range of topics, including recent developments in structured products, US emissions trading, the biofuels and ethanol market, LNG opportunities, and the renewables market.

On 16 May, NERA Vice President Dr. Sharon Brown-Hruska delivered the Keynote Address, entitled "Is the Party Over? Regulatory Risk and Evaluating the Need for Greater Regulatory Oversight of Energy Trading." Dr. Brown-Hruska discussed whether regulatory oversight is a practical approach for customized and non-standard contracts, the viability of cross-border enforcement, the collapse of energy hedge fund MotherRock, and lessons learned from Amaranth Advisors, the hedge fund that lost nearly $5 billion in one week. She also delivered an introduction to the Energy Risk annual awards presentation and dinner on 15 May.