Fixing Market Failures to Cut Fuel Costs and Pollution from Cars and Trucks
This report analyzes a key issue in U.S. transportation policy: the energy efficiency gap. We discuss the market failures that cause it, and recommend that the Biden administration continue the longstanding practice of incorporating private fuel savings in any evaluation of the costs and benefits of stronger standards for cars and trucks.
We conducted a large-sample global survey on climate economics, which we sent to all economists who have published climate-related research in the field’s highest-ranked academic journals; 738 responded. To our knowledge, this is the largest-ever expert survey on the economics of climate change. The results show an overwhelming consensus that the costs of inaction on climate change are higher than the costs of action, and that immediate, aggressive emissions reductions are economically desirable.
Wholesale Market Design Options and Considerations
This report examines the relationship between resource adequacy and renewable energy. It explores the impacts of renewables on the functioning of resource adequacy mechanisms and how different resource adequacy approaches affect renewable investment, finding that current approaches—with certain adjustments—are capable of ensuring that the lights stay on during a future that is powered largely by renewable energy.
Climate change presents grave risk across the U.S. economy, including to corporations, their investors, the markets in which they operate, and the American public at large. Unlike other financial risks, however, climate risk is not routinely disclosed to the public. This report, authored by Policy Integrity and the Environmental Defense Fund, urges the Securities and Exchange Commission to issue new, mandatory disclosure rules focused on climate risk.
Executive Order 12,898 and Climate Change
Distributional and equity concerns have typically received short shrift in federal administrative decisionmaking, particularly with regard to actions with climate-change impacts. This report aims to aid advocates and policymakers in meaningfully addressing the disparate climate impacts of federal actions.
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