Environment & Climate Change

This essay examines Russia’s growing role in Asia’s energy markets, assesses the implications for the U.S., and examines the claim that closer Sino-Russian energy ties are adding new incentives for a broader strategic alignment.

Since the Paris Agreement's adoption in 2015, a majority of the world's largest investors have begun to take action on climate change. According to a new report, the 2016–2017 year showed an average improvement in decarbonization within all major investor categories except pension funds.

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.

China has ambitious goals for developing and deploying electric vehicles (EV). The stated intention is to “leapfrog” the auto industries of other countries and seize the emerging EV market. Since 2009, policies have included generous subsidies for consumers in certain locations, as well as strong pressure on local governments to purchase EVs. Yet four years into the program, progress has fallen far short of the intended targets. China has only about 40,000 EVs on the road, of which roughly 80% are public fleet vehicles such as buses and sanitation vehicles.

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.

The outcome of the December 2011 United Nations climate negotiations in Durban, South Africa, provides an important new opportunity to move toward an international climate policy architecture that is capable of delivering broad international participation and significant global CO2 emissions reductions at reasonable cost. This paper addresses an important component of potential climate policy architecture for the post-Durban era: links among independent tradable permit systems for greenhouse gases.

Expanding estimates of North America’s supply of accessible shale gas, and more recently, shale oil, have been trumpeted in many circles as the most significant energy resource development since the oil boom in Texas in the late 1920s. How large are these resources? What challenges will need to be overcome if their potential is to be realized? How will they impact U.S. energy policy?

To address these questions, the Belfer Center for Science and International Affairs and two of its programs ― the Environment and Natural Resources Program and the Geopolitics of Energy Project ― convened a group of experts from business, government, and academia on May 1, 2012, in Cambridge, Massachusetts. The following report summarizes the major issues discussed at this workshop. Since the discussions were off-the-record, no comments are attributed to any individual. Rather, this report attempts to summarize the arguments on all sides of the issues.

"A successful international climate policy framework will have to meet two conditions, build a coalition of countries that is potentially effective and give each member country sufficient incentives to join and remain in this coalition. Such coalition should be capable of delivering ambitious emission reduction even if some countries do not take mitigation action. In addition, it should meet the target without exceedingly high mitigation costs and deliver a net benefit to member countries as a whole. The novel contribution of this paper is mostly methodological, but it also adds a better qualification of well-known results that are policy relevant."

In a new Harvard Project Discussion Paper, Fondazione Eni Enrico Mattei's Valentina Bosetti and Enrica De Cian model the behavior of countries not participating in a cooperative climate regime. The regime imposes counterbalancing influences upon these countries, but under some conditions they may act to both reduce emissions and increase clean-energy R&D