I study the energy transition and its effect on climate and the economy. Subsidizing green ≠ taxing brown. @UCDavisEcon | @DallasFed. All views my own.
May 8, 2022 • 17 tweets • 6 min read
Electrification is not going to save us from the energy crisis that we’ve entered. Several factors point to prolonged tightness in crude oil markets that can only be solved by increasing supply. A 🧵. 1/n
Oil price levels and volatility have increased dramatically in 2022, reaching heights over $140/bbl before settling back to levels in the low $100s. For comparison, 2015-2019 saw prices generally in the $40-60/bbl range. So (captain obvious!) they are much higher now. 2/
