Tom Siebel's Latest Venture: Creating the 'Internet of Energy'

The founder of Siebel Systems is on to his latest venture, C3 Energy, which he says is creating the 'internet of energy' by taking big data, cloud computing and machine learning and making oil and gas companies more efficient. Siebel says the company, based on the software as a service model helps 'increase safety and lower the cost and environmental impact of power generation, delivery, distribution, exploration and production.' Siebel says C3's software is already being used in 20 utility companies around the world. If C3 continues on its current growth trajectory, Siebel said he could see the company eventually going public, 'if we succeed, the likely outcome is that this will be a standalone public company.' TheStreet's Rhonda Schaffler has details from the IHS CERA conference in Houston.