There are many indicators of energy security. Few measure what really matters-an affordable and reliable energy supply-and the trade-offs between the affordability and reliability. Reliability is physical, affordability is economic. The latest Russian invasion of Ukraine highlights some of the...

In this essay, we describe some important themes in energy and environmental policy. There are two main reasons for our interest in these policies. First, such policies will likely be important in the coming decades as issues related to climate change and energy security come to the fore....