View video of the event panels below.
America’s energy sector has the power to bring unprecedented economic growth to our nation. But we are only partially able to take advantage of that power. One obstacle often holds this sector back: regulation. While good rules foster growth, poorly conceived policies can stymie growth. Analyzing and quantifying the regulatory cost to society is hard, which is why most experts shy away from the effort.
On September 12, 2013, energy experts, lawmakers, and leading industry figures met at the George W. Bush Presidential Center in a bold effort to determine the cost that misguided regulation imposes on growth and to suggest more sensible policies that could benefit America.
Hidden Costs: The Precautionary Principle, and Risks of Clean Energy Policy
By Dino Falaschetti
Falaschetti finds that for every $100 billion that the United States centrally directs to clean energy, GDP may decrease by over 0.4%. Compounded over a generation, this reduction approximates today’s per capita income gap between the United States and Italy.
The Energy Wealth of Indian Nations
By Shawn Regan and Terry L. Anderson
Currently Native American reservations are unable to develop their vast energy resources due to poorly-defined property rights. If policies were different and tribes could earn a 5% return on their energy resources, Native Americans would have additional income of $75 billion per year, and U.S. GDP would increase by as much as 0.5% per year.
The Energy Logjam
By Bernard L. Weinstein and Nicholas Saliba
This handbook provides vital statistics showing how removing regulatory barriers on the energy sector could unleash stronger U.S. economic growth.
Opportunity Costs of State Regulation: Accounting for the Economic Impact of a Shale Gas Well
By Michael J. Orlando
A significant part of the opportunity cost of regulation is the economic benefits of the wells not drilled. For example, were New York State to lift the current moratorium on shale gas development, well drilling and producing cash flows would generate $4.5 billion of gross state product within three years and support a total of 39,000 jobs. After 10 years, drilling and producing activities would generate over $8 billion in economic activity, predominantly wage payments supporting nearly 69,000 jobs.
Other papers relevant to the conference
A Conference on Energy Regulation: Lessons about Growth from the States, the Nation and Abroad
View the conference live via webcast live on September 12, 2013 at 8:30 a.m. Central Time at www.bushcenter.org/live.
Panel I: The Record of Growth and Regulation in the States
Staying true to the desires of the Founding Fathers, our states have remained independent, with each jurisdiction determining its own energy policy. In this illuminating comparative panel, state scholars and leaders discuss the impact that separate and distinct regulatory policies have upon energy sectors across the country.
The Honorable Karen A. Harbert
President and Chief Executive Officer, Institute for 21st Century Energy, U.S. Chamber of Commerce
The Honorable Tom Corbett
Governor, Commonwealth of Pennsylvania
The Honorable Christi Craddick
Commissioner, Railroad Commission of Texas
Senior Fellow, Manhattan Institute for Policy Research
Principal, Economic Advisors, Inc.
Lecturer, Global Energy Management, University of Colorado – Denver
The Honorable Ed Schafer
Former Governor of North Dakota
Former U.S. Secretary of Agriculture
Panel II A: The Future of Coal Regulation
Despite America’s newfound energy abundance, coal remains a major source of energy that fuels our lives and, increasingly, those of citizens in other nations. Some coal regulations benefit neither the environment nor the economy; other times such regulation makes coal a win-win proposition. Join leaders from the coal industry as they discuss the role of regulation in a changing industry.
Director, Maguire Energy Institute
Adjunct Lecturer, Strategy, Entrepreneurship and Business Economics, SMU Cox School of Business
President and Chief Executive Officer, Alliance Resource Partners, L.P.
Managing Director, Headwaters MB
Chief Executive Officer, Luminant
D. Paul Jones, Jr. & Charlene A. Jones
Chairholder in Law, University of Alabama
Panel II B: Green or Growing?
The debate over the environment is often presented as an either-or proposition. Sometimes that is the case: a town or state can be either green or growing, but not both. In many instances, though, green policy and growth policy go hand in hand. This panel discusses the intersection of the two policies and the extent to which they diverge.
President, Property and Environment
Executive Director, Property and Environment Research Center
David R. Hill
Executive Vice President and General Counsel, NRG Energy, Inc.
Michael A. Levi
Senior Fellow for Energy and the Environment and Director of the Program on Energy Security and Climate Change, Council on Foreign Relations
Senior Vice President, Strategy and Communications, Environmental Defense Fund
Bernard L. Weinstein
Associate Director, Maguire Energy Institute
Adjunct Professor of Business Economics, SMU Cox School of Business
Panel III: Our Nation’s Growth Versus Other Nations’
As for states, so for nations … Some nations see their energy sectors grow faster than others and natural resources are but one contributing factor. Sometimes a nation’s regulatory policy towards energy can make a difference between stagnation and unemployment, and ferocious growth. In this panel, policymakers and industry leaders discuss how policies abroad impact growth and outline the lessons that can be applied here at home.
Managing Director, Capital Alpha Partners, LLC
The Honorable Kevin Brady
United States House of Representatives, 8th District of Texas
Partner, Highland Capital Management, L.P.
Managing Director, Falcon E&P Opportunities Fund, L.P.
The Honorable C. Boyden Gray
Founder, Boyden Gray & Associates
Kenneth A. Hersh
Co-Founder and Chief Executive Officer, NGP Energy Capital Management
Goolsby-Rosenthal Chair, Economics and Law, University of Texas at Arlington
Chairman, Department of Economics, University of Texas at Arlington
Director, Mexico Institute, Woodrow Wilson International Center for Scholars
Panel IV: Energy Exports: The Potential for Growth in Exports
Another form of regulation is export policy. This is especially true for natural gas, where an onerous and arbitrary permit process determines which companies may export and which must wait. Also a point of debate, some firms believe it is best to keep resources such as coal and natural gas at home, while others advocate greater opportunity to export. Join experts and industry leaders as they discuss an issue that is key to growth and our energy future.
The Honorable James K. Glassman
Visiting Fellow, American Enterprise Institute
Former Executive Director of the George W. Bush Institute
President, Industrial Energy Consumers of America
President and Chief Executive Officer, Electrification Coalition
Founder, President and Chief Executive Officer, Securing America’s Future Energy
The Honorable Ron Kirk
Senior of Counsel, Gibson, Dunn & Crutcher LLP
Ambassador, 16th U.S. Trade Representative
Chairman and Chief Executive Officer, Pioneer Natural Resources
Chairman and Chief Executive Officer, Energy Transfer Partners
Introduction of President Bush by the Honorable Margaret Spellings, Remarks by President George W. Bush
Panel V: Governors and Policymakers Roundtable on How to Achieve Energy Growth
2:55 p.m. – 3:55 p.m.
Everyone gets the theory, but what is energy policy really like in practice? Join Russell Gold, energy reporter at The Wall Street Journal, as he probes sitting and former governors and policymakers about decisions made while in office.
Staff Reporter, The Wall Street Journal
The Honorable Sam Brownback
The Honorable James Douglas
Former Governor of Vermont
The Honourable James Flaherty
Minister of Finance, Canada
The Honorable Jordy Herrera
Former Secretary of Energy, Mexico
The Honorable Rick Perry