Brian Prest @bprest

Economist @rff, via @DukeU, @NERA_Economics, & @USCBO. Opinions my own. brianprest.com Washington, DC Joined October 2010

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Brian Prest @bprest

2 days ago

@RDeanForeman1 Fair enough, although exports are of course closely related to what I was talking about. Which policy intervention are you alluding to? Export restrictions of some sort?

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Gasoline prices have been doing something strange recently. When crude prices crashed in June, gas prices didn't follow, and this wasn't just the usual "rockets and feathers" lag. This interactive data tool I built explores up just how unusual this is (bprest.github.io/data-tools/gas…).

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Brian Prest @bprest

2 days ago

Refiners have shifted output toward jet fuel and diesel instead, with gasoline production essentially flat in Q2 despite record refinery runs. Will this change anytime soon? Hard to say given the end of the ceasefire...

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Brian Prest @bprest

2 days ago

U.S. refiners have responded by running harder (eia.gov/todayinenergy/…), but not by making more gasoline. Gasoline crack spreads are up 60% year-on-year, but jet fuel and diesel spreads have more than *doubled*.

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Brian Prest @bprest

a year ago

The reduced royalty rates do encourage additional production, which DOGMA accounts for, but not nearly enough to overcome the substantial reduction in federal revenue. I’ll be posting additional details of this analysis on RFF’s web site later this week--stay tuned!

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Brian Prest @bprest

a year ago

These values represent only the approximately 50% share of royalties retained by the federal government, so the cuts would lead to similarly large revenue losses to the states where the oil and gas is being produced.

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Brian Prest @bprest

a year ago

The House Natural Resources Committee today is marking up its piece of the reconciliation bill currently making its way through Congress.

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Jesse D. Jenkins @JesseJenkins

2 years ago

My analysis on potential impacts of expanded US LNG exports is available here zenodo.org/records/137383… @rff's analysis of oil & gas leasing led by @bprest can be found here rff.org/publications/i… One can read these and verify the letter's statement is incorrect.

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Frank Errickson @F_Errickson

2 years ago

We have a paper out in @ScienceMagazine today showing how new guidelines allowing for income weighting in federal cost-benefit analysis would affect the social cost of carbon. Main takeaway, the SC-CO2 increases nearly 8x to ~$1300/ton. @rff @ERGBerkeley science.org/doi/10.1126/sc…

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Brian Prest @bprest

2 years ago

@Komanoff @TAndersen_nSCIr @JesseJenkins @HarrisonGFell @DxGordon That was a typo in the old version @JesseJenkins shared. Notice the two "of"s where a crucial modifier was dropped. The corrected one is here and reads as follows: rff.org/publications/w…

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NBER @nberpubs

3 years ago

Discounting in benefit-cost analysis using investment rates of return can yield very misleading estimates of the costs and benefits of policies with long-lived impacts, from @richardgnewell, @billypizer, and @bprest nber.org/papers/w31526

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Journal of Environmental Economics and Management @JEEM_tweets

3 years ago

Check out this new research in #JEEM on climate royalty surcharges on fossil fuels by Brian C. Prest (@bprest) and James H. Stock (@jimstockmetrics). Increasing royalty rates on federal fossil fuel reduces global emissions. Link to paper: sciencedirect.com/science/articl…

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Brian Prest @bprest

3 years ago

@stroebel_econ @ProfJAParker @JohnHCochrane Also the time profiles of costs and benefits need to align for an investment rate to make sense. But there's a better way: the shadow price of capital, which was implicitly endorsed in the old A-4, but given much more prominence in the revision. rff.org/publications/w…