Federal Coal Workshop: Fair Market Value & Alternatives Analysis
For the first time in 30 years, the Department of the Interior has launched a comprehensive review to identify and evaluate potential reforms to the federal coal program. Public input will help inform the size and scope of Interior’s Programmatic Environmental Impact Statement (PEIS). This public workshop will gather legal, policy, and economic experts to analyze key issues for this review, including: how to ensure that American taxpayers earn “fair market value” for the use of their public resources; how to account for the environmental and public health impacts of coal production; and how to identify and analyze viable alternatives so that policymakers and the public can make informed decisions about the future of federal coal.
Continuing Legal Education credit will be available.
SCHEDULE OF EVENTS:
8:30 – 9:00 a.m.
Registration and Continental Breakfast
9:00 – 9:10 a.m.
Welcome and Introduction
• Richard Revesz, Professor of Law and Dean Emeritus, NYU School of Law; Director, Institute for Policy Integrity;
• Jayni Foley Hein, Policy Director, Institute for Policy Integrity
9:10 – 10:20 a.m.
Defining “Fair Market Value” CLE credit available
• Fair market value and procedural safeguards (Bruce Huber, Associate Professor of Law, Notre Dame Law School)
• Fair market value from a social welfare maximizing perspective (Jayni Hein, Policy Director, Institute for Policy Integrity, NYU School of Law )
• Fair market value and royalty reform: accounting for carbon dioxide emissions (Nathan Richardson, Assistant Professor of Law, University of South Carolina School of Law; Visiting Fellow, Resources for the Future)
• Moderator: Richard Revesz, Professor of Law and Dean Emeritus, NYU School of Law; Director, Institute for Policy Integrity
10:25 – 11:45 a.m.
Analyzing Royalty Rate Scenarios and Effects on Production, Revenue, and Emissions
• The impact of royalty reform scenarios on prices, production, and state revenue (Mark Haggerty, Headwaters Economics)
• Royalty reform scenarios to account for upstream methane and transportation costs (Peter Howard, Economics Director, Institute for Policy Integrity, NYU School of Law)
• Modeling Social Cost of Carbon royalty adder scenarios, with different Clean Power Plan base cases (Spencer Reeder, Senior Program Officer, Vulcan Philanthropies; and James Stock, Harold Hitchings Burbank Professor of Political Economy, Faculty of Arts and Sciences, and faculty member, Harvard Kennedy School)
• Moderator: Sara Kendall, Washington, D.C. Office Director, Western Organization of Resource Councils
11:45 a.m. – 12:45 p.m.
Lunch (provided)
12:45 – 2:05 p.m.
Substitution Analysis and Carbon Budgeting
• BLM’s past substitution analysis, and recommendations for approaching substitution in the programmatic review (Nathaniel Shoaff, Staff Attorney, Sierra Club)
• How other federal agencies have conducted substitution analysis and recommendations for BLM (Jason Schwartz, Legal Director, Institute for Policy Integrity, NYU School of Law)
• The impact of ramping down federal coal and oil leasing on U.S. carbon dioxide emissions and climate change goals (Pete Erickson, Senior Scientist, Stockholm Environment Institute)
• Carbon budgeting for federal lands: policy goals and process (Chase Huntley, Director of the Energy & Climate Program, The Wilderness Society)
• Moderator: Pamela Eaton, Senior Director, Reducing Climate Emissions Campaign, The Wilderness Society
2:10 – 3:05 p.m.
Bidding and Leasing Reform
• Bid reform recommendations (Mary Ellen Kustin, Policy Director, Public Lands Project, Center for American Progress)
• A new leasing process to serve the public interest (Dan Bucks, Former Montana Director of Revenue)
• Moderator: Ryan Alexander, President, Taxpayers for Common Sense
3:10 – 3:30 p.m.
Concluding Remarks and a Path Forward
•David Hayes, Distinguished Visiting Lecturer in Law, Stanford Law School; former Deputy Secretary and Chief Operating Officer, U.S. Department of the Interior
