The Baker Institute Energy Forum hosts a special workshop examining the consequences of potential greenhouse gas emissions regulations for the U.S. energy market. We consider the influence of a wide range of scenarios, including the adoption of a national carbon management initiative as well as a continuation of the current trend toward a piecemeal, subnational policy with particular states taking a lead. The modeling research is aimed to contribute to a major energy study, titled "Energy Market Consequences of an Emerging U.S. Carbon Management Policy," due to be released in 2009.
Utilizing its world gas trade model, the Baker Institute investigates how different carbon management schemes will influence natural gas demand, supply and pricing in the United States, as well as overall trends in the North American energy market. Using a scenario-based approach, we examine the effects of carbon constraints being discussed (i) at the state level, (ii) at the national level to reflect future policy that may umbrella those being considered by individual states, and (iii) at the international level as part of an integrated policy framework. The initial modeling approach and some preliminary results will be presented at the workshop for peer review and discussion. Discussion topics include: methods for integrating carbon markets and pricing; scenario design for analyzing the effect of various policies on natural gas demand; scenario design for considering different costs for investments in alternative energy; methods for considering the affect of migration of energy-intensive businesses from the United States.
The study was made possible through the generous support of ConocoPhillips Foundation and the Baker Institute Energy Forum.
Event Agenda and Presentations
Welcome Remarks and Introduction
Amy Myers Jaffe, Wallace S. Wilson Fellow in Energy Studies, Baker Institute
"Effects of CO2 Constraints in a Global Gas Market"
Peter Hartley, Ph.D., Baker Institute Rice Scholar, Chair & Professor of Economics, Rice University
New Research Approach
"Energy Market Consequences of an Emerging U.S. Carbon Management Policy"
Kenneth B. Medlock III, Ph.D., Fellow in Energy Studies, Baker Institute and Adjust Professor of Economics, Rice University