In the United States, a suite of technological advances have led to a historic increase in oil production over the past decade, ushering in a new era for American energy and transforming regions with growing production, jobs, and government revenues. For these producing regions, however, the story is also about local economic volatility and vulnerability. Along with substantial economic benefits, production growth has imposed substantial burdens on communities and governments in the oil patch, who must accommodate the influx of workers through investments in infrastructure and other public services, all while keeping an eye toward an inevitable dip in prices and local economic activity. In the private sector, businesses face difficult decisions about the scale and timing of investments in regions where economic volatility makes it difficult to anticipate consumer demand, labor costs, and more.
Join the Columbia University Center on Global Energy Policy and Resources for the Future (RFF) in Washington, D.C. as we examine the regional impacts of oil volatility, and discuss whether there might be a federal role in supporting producing communities. Two panels will bring together experts at the federal, state, and local levels to discuss how volatile oil prices have affected and are likely to affect the economies of producing regions, and examine potential avenues for federal intervention to support economic diversification and fiscal health in producing regions.
Panel I: Energy Volatility – Local Impacts and Response
9:30 a.m. – 10:45 a.m.
Daryl Dukart, County Commissioner, Dunn County, North Dakota
Sue Gander, National Governor’s Association
Diane Rahm, Professor, Department of Political Science, Texas State University
Moderator: Daniel Raimi, Resources for the Future
Panel II: Federal Intervention to Support Producing Regions
11:00 a.m – 12:15 p.m.
Adele Morris, senior fellow and policy director for Climate and Energy Economics, Brookings
Patrick J. O’Brien, Director, Office of Economic Adjustment, Office of the Under Secretary of Defense, Department of Defense
Doug Lynott, Director, Economic Development Integration, U.S. Economic Development Administration, Department of Commerce
Moderator: Ron Minsk, Center on Global Energy Policy