Geopolitics and Upheaval in Oil Markets

I’m very pleased to announce that we have launched a new webinar series from the Harvard Project on Climate Agreements“Conversations on Climate Change and Energy Policy,” which features presentations, interviews, and other engagements with leading authorities on climate change and related energy policy, whether from academia, the private sector, NGOs, or government.

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We were fortunate to be able to launch this new series on June 3, 2020, with Meghan O’Sullivan, the Jeanne Kirkpatrick Professor of the Practice of International Affairs at the Harvard Kennedy School, where she directs the Geopolitics of Energy Project.  Her most recent book, published by Simon & Schuseter in September, 2017, is Windfall:  How the New Energy Abundance Upends Global Politics and Strengthens America’s Power.  A recording of the webinar — plus a complete transcript — is available here.

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Megan O’Sullivan

I think it is fair to say that Professor O’Sullivan is the quintessential Harvard Kennedy School faculty member, because in addition to her extensive and relevant scholarly research, she has had abundant experience in the policy world as a practitioner, including work in policy formulation and negotiation as a Special Assistant to President George W. Bush.

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On location in the Middle East during the Bush 43 administration

The webinar begins with Meghan’s presentation on “The Geopolitics of the Global Upheaval in Oil Markets,” in which she touches on the recent impacts on global oil markets of both price competition and the demand shock associated with the COVID-19 pandemic.  Following her presentation, I pose some questions, drawing – in part – on ones submitted by webinar participants. 

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In conversation at the Harvard Kennedy School in 2011 with Richard Haass, former State Department and National Security Council official, and President, Council on Foreign Relations

Again, a recording of the webinar with a complete transcript is available here.  I hope you will check it out.

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Bringing Ambition and Pragmatism to Climate Change Policy

In the world of environmental policy, it is frequently the case that pragmatism and effectiveness are framed as being at odds with passion and ambition.  Even more so, in the realm of climate change, it is the rare individual who can successfully merge ambition and pragmatism in the pursuit of intelligent and effective public policy.  Richard Schmalensee, my guest in the newest episode of our podcast, “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program,” is just such a person.

In my conversation with Dick Schmalensee, the Howard W. Johnson Professor of Management, and Professor of Economics Emeritus at the Massachusetts Institute of Technology, he reflects on his many years working on environmental policy in public service and in academia.  Abundant insights arise, including important lessons for current climate policy deliberations in the United States, Europe, China, and other countries.

Professor Schmalensee was Dean of the MIT Sloan School of Management for 10 years, and Director of the MIT Center for Energy and Environmental Policy Research for 12 years.  Before and during those years, his research and teaching were in multiple areas of application of industrial organization, including antitrust, regulatory, energy, and environmental policies.

He is a Fellow of the Econometric Society and the American Academy of Arts and Sciences, a Director of the National Bureau of Economic Research, and Chairman Emeritus of the Board of Directors of Resources for the Future.  And I’m pleased to say that Dick is also an Associate Scholar of the Harvard Environmental Economics Program, and in recent years, has been my frequent co-author (for example, here, here, and here).

In addition to all of this, during a leave of absence from MIT, he served as a Member of the President’s Council of Economic Advisers in the George H.W. Bush administration.

Professor Schmalensee in his home study in Boston, 2020

In this latest Podcast episode, our conversation begins with Dick’s upbringing in a small town in southern Illinois, his move east to college and graduate school at MIT, his dissertation research, and the professional path that took him after receipt of his Ph.D. degree, first to California, and then back east to MIT’s Sloan School of Management.  We turn to his career in regulatory economics and policy – both his scholarly research and his close involvement in policy development and implementation, where he was “in the words of ‘Hamilton,” in the room where it happened.” 

Speaking at the Harvard Kennedy School, 2020

You won’t be surprised that we take time to focus on:  the pathbreaking cap-and-trade program launched by the Clean Air Act Amendments of 1990; and political changes in the United States that have moved environmental policy from being a truly bipartisan issue to a partisan one in today’s highly polarized politics.  Much of our conversation is about the current state of climate change policy – and policy research – both domestically and globally.

Delivering Keynote Address at the Toulouse School of Economics, 2017

Throughout the interview, Dick is at home in his disarming style of candid conversation, with no punches pulled.  He terms current U.S. climate change policy “a disaster,” saying it was a mistake “walking away from Paris, walking away from any sense that it’s important that we deal with our emissions and indeed walking away from the potential federal role in helping states and localities adapt to change.”

All of this and more is found in the newest episode of “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program.” Listen to this latest discussion here, where you can also find a complete transcript of our conversation.

My conversation with Dick Schmalensee is the eleventh episode in the Environmental Insights series.  Previous episodes have featured conversations with:

 “Environmental Insights” is hosted on SoundCloud, and is also available on iTunes, Pocket Casts, Spotify, and Stitcher.

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Will the COVID-19 Pandemic Bring About Long-Term Societal Changes?

We have just released the newest episode of our podcast, “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program.”  In this latest episode, I engage in a conversation with Scott Barrett, who – more than any other environmental economist I can name – is exceptionally well equipped, based on his research and experience, to reflect intelligently on the coronavirus pandemic, and public policies to address it.

Scott is the Lenfest-Earth Institute Professor of Natural Resource Economics at Columbia University, where he also serves as Vice Dean of the School of International and Public Affairs.  Readers of this blog will recognize Scott as one of the world’s leading authorities analyzing alternative approaches to addressing the threat of climate change through international treaties, but he has also written for more than a decade on an economic perspective on global infectious disease policy.

In addition to his scholarly work, Scott has served as an advisor to many international organizations, including the European Commission, the OECD, the World Bank, and the United Nations, and he and I worked together when we were Lead Authors of the Second Assessment Report of the Intergovernmental Panel on Climate Change.  Also, I’m very pleased to say that Scott has been a frequent participant in our programs and projects at Harvard, and has been my co-author on a number of occasions.

Scott Barrett, Ph.D. Lenfest-Earth Institute Professor of Natural Resource Economics Columbia University, New York

In this podcast episode, Professor Barrett assesses the massive global efforts underway to address COVID-19 and the potential impacts of the pandemic on our lives in the future.  He describes how COVID-19 will be a “persistent challenge” and will result in “fundamental changes in society.”   Turning to domestic U.S. policy, he comments that “what really stands out is the failure of the United States to be prepared.  It’s clear that our inability to do testing has really compromised the health and well-being of Americans.”  Calling it “an equitable scourge,” Scott notes that the pandemic is affecting people from all levels of income and wealth, and that “it’s in everyone’s best interest that we control it.”

Comparing the COVID-19 outbreak to the Plague in the 14th century and the Spanish Flu of 1918-19, Scott remarks, “I think this is going to have profound changes that will last at least a generation.  It’s hard to know exactly what those changes will be, but there will be changes in terms of how we understand our relationship with each other, to technology, to science, to government, to international institutions.  I think all of this is in play right now.”

All of this and much more is found in the newest episode of “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program.” Listen to this latest discussion here, where, by the way, you can also find a complete transcript of our conversation.

My conversation with Scott Barrett is the eighth episode in the Environmental Insights series.  Previous episodes have featured conversations with:

“Environmental Insights” is hosted on SoundCloud, and is also available on iTunes, Pocket Casts, Spotify, and Stitcher.

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