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11 Results
Power lines during a freeze.
ERCOT Froze in February 2021. What Happened? Why Did It Happen? Can It Happen Again?
The authors conduct a step-by-step examination of various factors that were blamed for the extended power outage on the ERCOT electricity grid in February 2021. While no single factor fully explains the calamity, the bureaucratic failure in identifying and addressing risks along fuel supply chains was a major failure. Most proposed remedies do not fundamentally address what occurred. The authors make several recommendations, some of which have already been implemented.
Peter R. Hartley, Kenneth B. Medlock III, Shih Yu (Elsie) Hung February 2, 2022
Texas refineries at sunset.
Expanding Carbon Capture in Texas: Working Paper from Stakeholder Discussions on “Collaborative Action to Reduce CO2 Emissions in Texas”
Texas is the source of about one-quarter of all energy-related carbon dioxide (CO2) emissions in the US industrial sector and about one-eighth of all CO2 emissions from the US power generation sector, with a significant proportion of emissions in both sectors located near the gulf coast. As such, Texas has the opportunity to capture significant economies of scale in carbon capture.
Kenneth B. Medlock III, Keily Miller January 27, 2021
Windmill in a storm
BCarbon: A New Soil Carbon Storage Standard
A working group led by the Baker Institute has developed an innovative measurement-based standard — “BCarbon” — for removing carbon dioxide from the atmosphere and storing it in the soil as organic carbon. BCarbon is a scalable soil carbon storage standard designed to work for landowners and soil carbon storage buyers. The proposed standard allows landowners to monetize soil carbon storage as a property right.
Kenneth B. Medlock III, Jim Blackburn November 2, 2020
Oil drums
Shale Renders the ‘Obsolescing Bargain’ Obsolete: Political Risk and Foreign Investment in Argentina’s Vaca Muerta
The authors evaluate Argentina’s energy sector and test the hypothesis that investments in tight oil and shale gas extraction expose investors to fewer risks than extracting conventional oil and gas. This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”
Gabriel Collins, Mark P. Jones, Jim Krane, Kenneth B. Medlock III, Francisco J. Monaldi February 24, 2020
Oil rig
Employment Impacts of Upstream Oil and Gas Investment in the United States
Technological progress in the exploration and production of oil and gas during the 2000s has led to a boom in upstream investment and has increased the domestic supply of fossil fuels. It is unknown, however, how many jobs this boom has created. Using time-series methods at the national level and dynamic panel methods at the state level to understand how the increase in exploration and production activity has impacted employment, this paper finds robust statistical support for the hypothesis that changes in drilling for oil and gas as captured by rig counts do, in fact, have an economically meaningful and positive impact on employment.
Mark Agerton, Peter R. Hartley, Kenneth B. Medlock III, Ted Loch-Temzelides August 22, 2014