Environment and Natural Resources

The International Energy Agency predicted last month that demand for global oil for transport will peak around 2026, plateau for all uses by 2028, and possibly hit a zenith by the end of the decade. Harvard experts say the forecasts track with what’s going on in the developed world, but the energy needs of less-wealthy nations pressing to develop their economies could foil expectations for years to come.

The price cap on Russian oil implemented today by the G7 countries plus Australia represents a novel approach to sanctions. The policy is designed to reduce Russian fossil fuel revenues while keeping Russian oil on the market. In this brief, Catherine Wolfram, Simon Johnson, and Łukasz Rachel explain the basic economic principles at work and discuss some of the critiques of the price cap. 

The price cap on Russian oil implemented today by the G7 countries plus Australia represents a novel approach to sanctions, according to a policy brief authored by Catherine Wolfram, Simon Johnson, and Łukasz Rachel and released today by Harvard Kennedy School’s Belfer Center for Science and International Affairs and the Mossavar-Rahmani Center for Business and Government. 

Joel Clement describes the influence of U.S. Senators Lisa Murkowski and Joe Manchin over the Department of the Interior and advises that a forward-looking legislator in a fossil-fuel state would be wise to fight aggressively for financial commitments to make the people in their state part of the vanguard of the new clean energy economy, rather than set back the U.S. economy by fighting the inevitable energy transition itself.

Joel Clement describes some immediate opportunities—and emphasize specific recommendations—to establish the Interior Department as a purposeful catalyst for a fair and just transition to clean energy, healthy ecosystems, and thriving communities.

Arctic Innovator Samuel Gant writes that by adopting world-class environmental and safety standards and creating a sovereign wealth fund, Greenland can ensure mining serves its best interests.

Growing concern around climate change has ignited recent interest in carbon capture, utilization, and storage (CCUS) technologies and generated a series of studies on its global market potential.

After many years of productive service, industrial plants reach the end of their useful life and must be dismantled. This complex and costly process, know as decommissioning (commissioning refers to the beginning of a plant useful life), is a confluence of economic, environmental, physical, and regulatory challenges.