We analyse the evolution of the systemic risk impact of oil and natural gas companies since 2000. This period is characterised by several events that affected energy source markets: the real effect of the global financial crisis, the explosion of shale production and the diffusion of the...

This article introduces and overviews U.S. renewable energy policy. It describes the shape, content, and contours of that policy, including its emphases and functions in both the electricity and transportation sectors of the U.S. economy. To do so, the article builds a conceptual model that can...

There is a large gap between the percentage of electricity generated from renewable sources in the U.S. and EU. This paper argues the reasons are not just a failure of policy in the U.S. but also matters of deep political structure and culture. Federalism, separation of powers, changing policies...

The U.S. Congress recently passed a new energy bill that, until that last minute, included provisions that would have established a national renewable portfolio standard (RPS). The RPS would have required electric utilities to procure a certain percentage of their electricity from renewable...

This paper taps into the use of energy sector based portfolios, as opposed to the traditional equity based portfolios. Key contributions are in terms of assessing (i) which U.S. sectors are best to combine with the energy sector, (ii) how a sector based portfolio's risk and return differ from an...

Deemed as the “world’s most important chokepoint” for oil and international shipping, the Strait of Hormuz is the main thoroughfare to and from the Arabian/Persian Gulf. A disruption in shipping through the Strait of Hormuz would have severe consequences for the world economy. Without...

We provide a spatial theory of clean growth to assess the global impact of the rise of renewable energy. We model the details of the combined production and transmission network of electricity ("the grid") that determine the supply and losses of energy in space. The local rate of clean energy...

In this paper we assess the economic impacts of moving to a renewable-dominated grid in the US. We use projections of capital costs to develop price bounds on future wholesale power prices at the local geographic level. We then use a class of spatial general equilibrium models to estimate the...

President Bush declared America “addicted to oil” in his fifth State of the Union address, uttering what is now a common refrain used to urge the development of alternative fuel sources. Before progress can be made to modernize the U.S. fuel mix, though, it is important to consider how and...