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Energy and the Environment

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Energy and the Environment

At the intersection of physical sciences and policy, our researchers work to find solutions for hunger, environmental degradation, emerging energy markets and more.

Research Spotlight

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Economic Policy Challenges Facing California's Next Governor: Electricity Policy Reform

Because Californians are likely to want to continue to lead the energy transition, the relevant policy design question is: How can the state achieve these low-carbon energy goals in a more cost- effective manner?
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Climate Change is Increasing the Risk of Extreme Autumn Wildfire Conditions Across California

The climate model analyses presented here suggest that continued climate change will further amplify the number of days with extreme fire weather by the end of this century, though a pathway consistent with the UN Paris commitments would substantially curb that increase.
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Sight for Sorghums: Comparisons of Satellite- and Ground-Based Sorghum Yield Estimates in Mali

Leveraging a survey experiment in Mali, this study uses plot-level sorghum yield estimates, based on farmer reporting and crop cutting, to construct and evaluate estimates from three satellite-based sensors.
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Featured Scholars

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Ertharin Cousin

Visiting Scholar at the Center on Food Security and the Environment
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Ertharin Cousin

Visiting Scholar at the Center on Food Security and the Environment
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David Lobell

Senior Fellow at the Freeman Spogli Institute for International Studies
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David Lobell

Senior Fellow at the Freeman Spogli Institute for International Studies
Director, Center on Food Security and the Environment
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Rosamond Naylor

Senior Fellow at the Freeman Spogli Institute for International Studies
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Rosamond Naylor

Senior Fellow at the Freeman Spogli Institute for International Studies
William Wrigley Professor of Earth System Science
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Frank Wolak

Senior Fellow at the Freeman Spogli Institute for International Studies
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Frank Wolak

Senior Fellow at the Freeman Spogli Institute for International Studies
Director, Program on Energy and Sustainable Development
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Working Papers

An Experimental Comparison of Carbon Pricing Under Uncertainty in Electricity Markets

Trevor L. Davis, Mark C. Thurber, Frank Wolak
Program on Energy and Sustainable Development, 2020 May 25, 2020

We report on an economic experiment that compares outcomes in electricity markets subject to carbon-tax and cap-and-trade policies. Under conditions of uncertainty, price-based and quantity-based policy instruments cannot be truly equivalent, so we compared three matched carbon-tax/cap-and-trade pairs with equivalent emissions targets, mean emissions, and mean carbon prices, respectively.

Energy Cap and Trade Electricity Energy and Climate Policy Energy Infrastructure Energy Services Cap and Trade Climate change Working Papers
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Policy Briefs

Reports of the Demise of Carbon Pricing are Greatly Exaggerated

Frank Wolak
Stanford Institute for Economic Policy Research (SIEPR), 2018 August 1, 2018

Abstract

Politicians in a number of jurisdictions with cap-and-trade markets for greenhouse gas (GHG) emissions or carbon taxes have argued that the evidence is in and the conclusion is clear: Carbon pricing doesn’t work. A number of journalists and environmental groups have jumped on the bandwagon, amplifying a misguided message.

Cap and Trade Energy and Climate Policy Environment Cap and Trade Climate change Policy Briefs
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Journal Articles

Opportunities for advances in climate change economics

Science, 2016 April 15, 2016

There have been dramatic advances in understanding the physical science of climate change, facilitated by substantial and reliable research support. The social value of these advances depends on understanding their implications for society, an arena where research support has been more modest and research progress slower. Some advances have been made in understanding and formalizing climate-economy linkages, but knowledge gaps remain [e.g., as discussed in (1, 2)].

Economic Affairs Environment Cap and Trade Kyoto Protocol Climate Climate change Journal Articles
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Journal Articles

Carbon in the classroom: Lessons from a simulation of California’s electricity market under a stringent cap and trade system

Mark C. Thurber, Frank Wolak
The Electricity Journal, 2013 August 4, 2013

This paper summarizes the lessons learned from implementing a realistic, game-based simulation of California’s electricity market with a cap-and-trade market for greenhouse gas (GHG) emissions and fixed-price forward financial contracts for energy. Sophisticated market participants competed to maximize their returns under stressed (high carbon price) market conditions. Our simulation exhibited volatile carbon prices that could be influenced by strategic behavior of market participants.

International Relations Trade Energy Cap and Trade Electricity Environment Cap and Trade Journal Articles
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Commentary

Viewpoints: Cap and trade should look to broader goals

Frank Wolak
Sacramento Bee, 2012 November 2, 2012

To maximize environmental benefits from the rollout of its cap-and-trade program for greenhouse gas emissions, California should focus on achieving a positive demonstration effect from the program by doing as little as possible to harm the state's economy, as transparently as possible and as fast as possible.

 

Energy Cap and Trade Energy and Climate Policy Energy Infrastructure Cap and Trade Climate change Commentary
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