April 17, 2025
The Rigidity Cycle and the Pacing Problem
I was listening to Tyler Cowen’s Conversations With Tyler podcast with Jennifer Pahlka, rich and full of detail relevant to my previous post on the pacing problem. In addition to recommending this good conversation, I echo Tyler’s recommendation of Jen’s book Recoding America: Why Government is Failing in the Digital Age and How We Can Do Better….
April 4, 2025
A Policy Professor Grades Trump’s Trade Policies
For this first edition of THB Subscriber Questions (THBSQ#1) I am going to address one question asked by many readers. Anders Valland asks: Professor, now you know where it starts. What are your reflections on the new tariff regime? I’ll start with a disclaimer and some throat clearing — I do not research or publish in…
April 3, 2025
The Pacing Problem in Electricity
The electricity industry is undergoing an unprecedented transformation characterized by smaller-scale, decentralized, and digital technologies. But transitions are rarely easy. Significant challenges arise as the rapid pace of technological innovation exceeds the slower-moving evolution of regulatory institutions, creating what is known as the “pacing problem”. California, with its aggressive renewable energy policies and ambitious decarbonization…
March 31, 2025
Economics and Politics of Tariffs
In recent years, when teaching my senior policy capstone course I would often pivot the course on short notice to discuss current events, updating the readings on the syllabus, and often inviting guest lectures from relevant experts. Among such pivots were Covid-19, Russia-Ukraine, the U.S. elections, October 7th, and more. Part of my motivation of…
March 31, 2025
“Drill, Baby, Drill” is Nothing Short of a Myth and Populist Rallying Cry
Who uttered the quote that is the title of this post? A prominent climate activist, perhaps? Or maybe, a progressive Democratic member of Congress? No and no. The quote comes from a representative of a Texas-based oil and gas production firm last week to the Federal Reserve Bank of Dallas in its March Energy Survey. Here…
March 27, 2025
Global Energy Demand Set to Accelerate
The International Energy Agency has just published its Global Energy Review 2025. In this post I share the five most important take-aways I see in the report. I encourage you to have a look at the full report for IEA’s interpretation of its top conclusions. Let’s jump right in . . . Have a look at the figure…
March 25, 2025
The Energy Demands of the Data-Driven Future: Challenges and Solutions
Event Summary On March 25, AEI hosted a conference on the challenges of balancing energy constraints with the rapid growth of AI and data centers. AEI’s L. Lynne Kiesling opened the event and moderated the first panel, which examined the evolving energy demands of AI infrastructure. Brian George (Google), Arne Olson (Energy and Environmental Economics),…
March 20, 2025
Regional Transmission Organizations as Market Platforms V
In this RTO series, I’ve been exploring the decision-making processes and corporate governance structures within Regional Transmission Organizations (RTOs), highlighting how these institutions perpetuate the control and decision-making power of incumbent investor-owned utilities (IOUs). Today, we’ll delve deeper by examining two critical, complementary insights: first, how monopoly regulation dilutes corporate governance incentives for IOUs, and…
March 12, 2025
How To Get Rid of a Tenured Professor
I was a tenured full professor at the University of Colorado Boulder for almost 24 years. At the end of 2024, I left. Officially, it was a voluntary departure. But I sure felt like I’d been pushed out. My story started in 2015, when Rep. Raúl Grijalva (D–Ariz.) asked the university to investigate me. He alleged that…
March 11, 2025
Welcome to the Era of Energy Realism
Every year for the past 15 years, JP Morgan publishes an outstanding annual energy report by Michael Cembalest. Last week JP Morgan published its 2025 edition and today I share five important figures from the many in the report, which I highly recommend. Cembalest’s top line: [A]fter $9 trillion globally over the last decade spent on wind, solar,…