John Taylor, Professor of Economics at Stanford University and developer of the "Taylor Rule" for setting interest rates | Stanford University
John Taylor, Professor of Economics at Stanford University and developer of the "Taylor Rule" for setting interest rates | Stanford University
Engineer, businessman, volunteer, and philanthropist Jay Precourt, BS ’59, MS ’60, has died at the age of 87. Precourt provided the lead gift to establish the Precourt Institute for Energy at Stanford University. Over many decades, he generously supported faculty, students, and research across the university and at the Hoover Institution, where he served as a longtime member of the Board of Overseers. In recognition of his service to Stanford, Precourt was awarded the Stanford Associates Centennial Medallion in 1991.
Precourt remained closely involved in the mission of the Precourt Institute to ensure sustainable, affordable, and secure energy for all. He co-founded an annual conference that evolved into the Global Energy Forum at Stanford in 2018 and 2022.
At a gathering marking his departure from the institute’s volunteer Advisory Council earlier this year, Precourt said: “It's time for me to go swimming on the beach and stop traveling and take things easy. I don’t have any difficulty taking my nap in the afternoon and falling asleep at night because I know that the Precourt Institute is in very good hands.”
“Jay Precourt’s loss will be deeply felt across campus by leadership, faculty, staff, and classmates alike,” said John L. Hennessy. “Jay evolved from his successful career in the energy business to become one of the leading advocates and philanthropists dedicated to finding sustainable energy solutions for our country and the world.”
Jay Anthony Precourt was born in Chicago in 1937 and moved to Massachusetts at age 16 to attend Phillips Academy at Andover. He earned his bachelor’s and master’s degrees in petroleum engineering at Stanford before obtaining an MBA at Harvard.
In Denver during the early 1970s, he began working at Hamilton Oil Company. He later launched several energy companies and served as president or CEO of Hamilton Oil Company, Tejas Gas Corporation, and ScissorTail Energy.
Concerned about U.S. dependence on energy imports' national security implications, he established the Precourt Energy Efficiency Center (PEEC) at Stanford in 2006. His lead gift for establishing a central hub dedicated to energy studies came three years later with the founding of the Precourt Institute for Energy.
The institute is now part of Stanford's new Doerr School of Sustainability. Arun Majumdar noted: “His steadfast support of energy innovations...will be dearly missed.” Majumdar also mentioned missing "his grace, humor, friendship."
Precourt created funds supporting various areas such as sustainability curriculum and undergraduate scholarships while endowing professorships held by Majumdar and Sally Benson.
William Chueh stated: “Jay changed countless people's mindsets...All of us at the Precourt Institute will ensure that Jay’s impact continues.”
Precourt also contributed significantly outside his direct involvement with institutes; Condoleezza Rice remarked that he was “instrumental” in advancing Hoover Institution initiatives.
Precourt is survived by his wife Molly; children Amanda Precourt; J. Anthony Precourt Jr.; daughter-in-law Agatha Matosek Precourt; grandchildren Luke; Alexandra; Charlie.
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