Environment & Climate Change

In 2012, when many energy experts argued that oil production had peaked, Leonardo Maugeri published “Oil: The Next Revolution,” which forecast a glut of oil and collapsing prices in the next several years. His prediction proved prescient. Now, as analysts look past today’s oil-market drama to a near future of robust liquefied natural gas exports, Maugeri is again challenging conventional wisdom. The long-hoped-for and hyped-up gas market, he concludes, will disappoint.

“Falling Short: A Reality Check for Global LNG Exports” details the new findings by Maugeri, a former oil industry executive who is now an associate with the Geopolitics of Energy project at Harvard Kennedy School’s Belfer Center for Science and International Affairs.

In this installment of “Inside the Middle East: Q&A,” Dr. Abbas Al-Mejren, Kuwait Foundation Visiting Scholar at the Middle East Initiative and Professor of Economics at Kuwait University, discusses economic development plans in Kuwait and Gulf Cooperation Council countries, including poverty alleviation and rationalizing subsidies.

Economics are an essential part of understanding climate change and for developing solutions to it. Robert Stavins and Rohini Pande focused on that idea at a Harvard Kennedy School "IDEASpHERE" event titled "Harnessing Market Forces to Protect the Climate."

Planting a forest to improve air quality may prove to be as cost-effective as expensive new pollution control equipment, according to preliminary results from a novel experiment at a Freeport, Texas chemical plant. Officials involved in the study say this innovative approach could become a test case before the federal Environmental Protection Agency, which has identified reforestation as a potential air quality improvement strategy.

Leaders of an unusual collaboration between The Nature Conservancy, the world's largest conservation group, and the Dow Chemical Company, a Fortune 100 corporation, told a Harvard Kennedy School (HKS) audience this week that they were encouraged by initial findings validating a dollars-and-cents approach to valuing nature that may help businesses with their bottom line while improving the environment in local communities.

A study just released by Belfer Center researcher Leonardo Maugeri finds that the shale oil revolution taking place in the United States could result in the tripling of shale oil output to five million barrels a day by 2017, likely making the U.S. the top oil producer in the world in just a few years. The study by Maugeri, a Roy Family Fellow working with the Belfer Center's Geopolitics of Energy project, looked at whether the surge in shale oil production is just a temporary bubble or an event capable of significantly altering the U.S.—and possibly global—energy outlook.

"In a bold move, the UK Government has announced the creation of a £1 million prize for a new 'grand innovation challenge.'  According to Prime Minister David Cameron, the award would go to the next 'penicillin' or a plane that could fly carbon-neutral across the Atlantic....The prize will not only recognize those who come up with outstanding ideas, but it will also serve as source of inspiration for young people. Getting the youth to focus their creative energies on solving the world's pressing challenges needs to start early, especially in high schools."

David Keith, Michael Levi, and Elana Schor discussed how the media influence public debate on the Keystone XL decision during a special seminar sponsored by the Environment and Natural Resources Program.

Professor Robert Stavins, Harvard Project Director, recently published the second volume of his collected papers with Edward Elgar Publishing. The 26 essays in the volume cover a wide range of topics, including: environmental policy analysis; economic analysis of environmental policy instruments; economics and technical change; natural resource economics — land and water; and domestic and international climate change policy. The first volume of Professor Stavins' papers was published in 2000 — also by Edward Elgar — covering the period 1988–1999.