Michael Giberson Last week saw announcement of the Electric Markets Research Foundation. The group plans “to fund unbiased research that will examine the track records of centralized electricity markets and traditionally regulated markets in providing affordable and reliable supplies of power as well as meeting clean energy, transmission and environmental needs.” The news release continues: “There is a … More New group formed to promote research in U.S. electric power markets
Michael Giberson Today the Master Resource blog published my list of ten price gouging topics needing economic research. As I point out in the introduction, many economists think price gouging is too simple to be worth studying. After all, it is just a kind of price cap, and we know how price caps work. My response is that … More Economics research topics in price gouging from odd-even rationing to guilt and shame
Michael Giberson In the recent edition of The American magazine, the on-line journal of the American Enterprise Institute, Michael Shellenberger and Ted Nordhaus write in defense of the President’s State of the Union address claim of federal government credit for the shale gas revolution. (For those of you not keeping score at home, (1) I commented … More The federal government’s natural gas R&D breakthrough
Michael Giberson In the State of the Union address, President Obama invoked a little federal government research history and then jumped to the kind of logical non sequitur so common to those who see the world through politically-colored glasses: The development of natural gas will create jobs and power trucks and factories that are cleaner … More Was federal government support critical to the shale gas breakthrough?
Michael Giberson Yesterday I disputed the analysis by which the Breakthough Institute wanted to claim credit on behalf of the federal government for the shale gas boom; today I dispute their claimed broader implications for federal energy R&D policy. Late in their op-ed, the Breakthrough folks shift emphasis from a narrow drilling technology story to … More Does a public good argument justify subsidizing private energy production?
Michael Giberson In the Washington Post the folks at the Breakthrough Institute try to learn us some history about the shale gas boom. Maybe you think the shale gas boom was some big surprise suddenly made real after the decades-long work of a hard-headed oil and gas guy – George Mitchell – willing to spend … More Did the federal government invent the shale gas boom?