I maximize present valued world GDP over the stockpile of petroleum used to contain price shocks administered by OPEC. Long run price elasticity of demand and non-OPEC supply exceed those in the short run, so OPEC profits from sudden, as opposed to gradual, increases in price. These shocks...

Economists have long noted that improving energy e fficiency could lead to a rebound eff ect, reducing or possibly even eliminating the energy savings from the effi ciency improvement. Yet there are important nuances in the microeconomic theory of the rebound eff ect that have not been explored....

For roughly 150 years, coal mines in the United States were dug and abandoned with little regard to the hazards they would present to health or the environment. Through a listening session and follow-up conversations, we heard from stakeholders in mine reclamation in Pennsylvania, the state with...

Iran is an energy-rich country and one of the world's main oil-exporters, but its own rapid energy consumption in recent years has raised concerns about the ability of the country to continue exporting oil in the future. Economic growth, massive energy subsidies, and mismanagement of the energy...

Resolving the resource adequacy problem has been usually entrusted to the imposition of some kind of long-term capacity requirements or to forward markets. The Operating Reserve Demand Curve (ORDC), which is linked to short-term market conditions and does not require central planning, has been...

Research on electricity futures markets has to date not explored the role that market liquidity may play in determining risk premia. Further, no detailed empirical examination of both liquidity and risk premia in the New Zealand electricity futures market are discernible. Using data from October...

This study analyses the roles that energy and other input prices play in reducing energy intensity of each of the 21 (according to the 4-digit code NAICS) manufacturing industries in Canada. A system of Generalized Leontief (GL) cost function and the derived factor intensity equations are...

Information provision is a key element of government energy-efficiency policy, but the information that is provided is often too coarse to allow consumers to make efficient decisions. An important example is the ubiquitous yellow “EnergyGuide” label, which is required by law to be displayed...

This study examines a field experiment in Texas that includes pricing and informational interventions to encourage energy conservation during summer peak load days when the social cost of generation is the highest. We estimate that our critical peak pricing intervention reduces electricity...

This paper uses a randomized field experiment to test how information provision leveraging social norms, salience, and a personal touch can serve as a nudge to influence the uptake of residential energy audits. Our results show that a low-cost carefully-crafted note-card can increase the...