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Crude oil prices have dominated headlines and industry attention over the past year. In 2014 and continuing in 2015, the Organization of the Petroleum Exporting Countries (OPEC) agreed to unconstrained output for it 12 member countries, resulting in a dramatic increase in global oil supply. Meanwhile, China and Europe’s demand for oil has remained relatively steady. In addition, U.S. domestic production nearly doubled since 2008, decreasing domestic imports and leaving more oil on the global market. As a result, oil prices fell from $90 per barrel in 2014 to $46 per barrel today and projections indicate prices between $30 and $60 per barrel… [more]
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Member
U.S. House of Representatives
Climate change is a threat to our environment and our economy, and we cannot afford the risk of inaction. With our free market economy, the best solution is a simple, transparent tax on carbon that unleashes the power of the market and enables America to lead the way toward a new, clean energy economy. Importantly, a carbon tax produces revenues that can be used to help American businesses and families. But there are many options for how to use these revenues. Critics of carbon taxes frequently cite slower economic growth, increasing taxes on the poor, and hurting coal workers as… [more]
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Professor of Public Policy
Georgia Institute of Technology
Making use of energy efficiency can help contain the cost of complying with the EPA’s Clean Power Plan and reduce electricity bills. Yet as climate policy discussions try to balance the urgent demand for quick action with upfront capital investments, the benefits of energy efficiency must be viewed in the long term. As efficiency programs are being ramped up by utilities with an over-capacity of power plants, rates may rise for a few years before they fall. Policymakers and stakeholders need to get past “rate fixation” to see the long-term value of energy efficiency. With the strong “nudge” of the… [more]
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