Prorationing is used as a textbook definition of a solution to the market failure presented by the common pool aspects of oil and natural gas (see, for example, Spulbur 1989, 59). Yet, at the same time, the academic literature on this question is severely limited. To fill this void, we analyze a...

We collect ownership data of U.S. power plants accounting for 99% of U.S. electricity generation over the 2008-2020 period. Domestic listed corporations have reduced their ownership from 69% to 54% of total generation, while private equity, institutional investors, and foreign corporations have...

The Gulf oil spill was the worst environmental disaster in U.S. history, and will be the most significant criminal case ever prosecuted under U.S. environmental laws. The Justice Department is likely to prosecute BP, Transocean, and Halliburton for criminal violations of the Clean Water Act and...

Despite the incentives of incumbent domestic listed corporations (DLCs) in the electricity generation industry, private equity, institutional investors, and foreign corporations have played an outsized role in financing the energy transition. These new entrants are twice as likely to create...

According to the German federal government's climate protection targets, there will be a continuous reduction of lignite-based electricity well before 2030. Simulations show that the currently authorized lignite mines in eastern Germany would not be fully depleted if the climate protection...

We propose a new instrument for estimating the price elasticity of gasoline demand that exploits systematic differences across U.S. states in the pass-through of oil price shocks to retail gasoline prices. These differences, which are primarily driven by variation in the cost of producing and...

Coal-fired power stations are responsible for around a third of Germany's carbon emissions. Failure to reduce the persistently high level of coal-fired power generation threatens Germany's climate targets for 2020 and 2050 and undermines a sustainable energy transition. Calculations by DIW...

This survey of recent developments includes reports updating continuing controversies regarding foreign poaching in Australian fisheries and whaling in the Southern Ocean, as well as significant changes to Australian policy and procedure regarding illegal immigration by sea. Among the cases...

Over the last decade, the Canadian government has not managed to produce a comprehensive climate change statute and has failed to adequately consider the constitutional implications of doing so. The Clean Air Bill, an unsuccessful 2006 amendment to the Canadian Environmental Protection Act...