In this week’s episode, host Daniel Raimi talks with Ryan Kellogg, a professor at the Harris School of Public Policy and affiliated faculty at the Energy Policy Institute at the University of Chicago. Kellogg discusses why carbon pricing, long the preferred emissions-reduction tool for most economists, actually may not be as efficient as other policy options. Kellogg and Raimi explore how economic theory has led many to favor carbon pricing, and why the conventional wisdom on carbon pricing may turn out to be wrong in the real world.

References and recommendations:

“Carbon Pricing, Clean Electricity Standards, and Clean Electricity Subsidies on the Path to Zero Emissions” by Severin Borenstein and Ryan Kellogg; https://www.nber.org/papers/w30263

“Superpower: One Man’s Quest to Transform American Energy” by Russell Gold; https://www.russellgold.net/superpower