Energy

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.

Papers

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

U.S. Export Restraints on Crude Oil Violate International Agreements and Are Vulnerable to Challenge
By Alan M. Dunn

The Economic Effects of Hyrdrofracturing on Local Economies: A Comparison of New York and Pennsylvania
By Diana Furchtgott-Roth

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.

Welcome
View video
The Honorable Donald L. Evans
Chair, George W. Bush Foundation Board of Directors 

 

Panel I: The Record of Growth and Regulation in the States
View video
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.

Moderator:
The Honorable Karen A. Harbert

President and Chief Executive Officer, Institute for 21st Century Energy, U.S. Chamber of Commerce

Panelists:
The Honorable Tom Corbett
Governor, Commonwealth of Pennsylvania

The Honorable Christi Craddick
Commissioner, Railroad Commission of Texas

Diana Furchtgott-Roth
Senior Fellow, Manhattan Institute for Policy Research

Michael Orlando
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
View video
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.

Moderator:
Bruce Bullock

Director, Maguire Energy Institute
Adjunct Lecturer, Strategy, Entrepreneurship and Business Economics, SMU Cox School of Business

Panelists:
Joe Craft
President and Chief Executive Officer, Alliance Resource Partners, L.P. 

Ray McCormick
Managing Director, Headwaters MB

Mac McFarland
Chief Executive Officer, Luminant

Andrew Morriss
D. Paul Jones, Jr. & Charlene A. Jones
Chairholder in Law, University of Alabama

Panel II B:  Green or Growing?
View video
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.

Moderator:
Terry Anderson

President, Property and Environment
Research Center

Panelists:
Dino Falaschetti
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

Eric Pooley
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’
View video
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.

Moderator:
James Lucier

Managing Director, Capital Alpha Partners, LLC

Panelists:
The Honorable Kevin Brady
United States House of Representatives, 8th District of Texas

Lane Britain
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

Roger Meiners
Goolsby-Rosenthal Chair, Economics and Law, University of Texas at Arlington
Chairman, Department of Economics, University of Texas at Arlington

Duncan Wood
Director, Mexico Institute, Woodrow Wilson International Center for Scholars

Panel IV: Energy Exports: The Potential for Growth in Exports
View video
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.

Moderator:
The Honorable James K. Glassman

Visiting Fellow, American Enterprise Institute
Former Executive Director of the George W. Bush Institute

Panelists:
Paul Cicio

President, Industrial Energy Consumers of America

Robbie Diamond
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

Scott Sheffield
Chairman and Chief Executive Officer, Pioneer Natural Resources

Kelcy Warren
Chairman and Chief Executive Officer, Energy Transfer Partners

Introduction of President Bush by the Honorable Margaret Spellings, Remarks by President George W. Bush
View video

 

Panel V: Governors and Policymakers Roundtable on How to Achieve Energy Growth
2:55 p.m. – 3:55 p.m.

View video
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.

Moderator:
Russell Gold

Staff Reporter, The Wall Street Journal

Panelists:
The Honorable Sam Brownback
Governor, Kansas

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
Governor, Texas

Tag Archive
Friday, March 28, 2014

This week, the U.S. Chamber of Commerce Foundation held an event at the George W. Bush Institute to discuss North America’s growth potential.  As part of that gathering, Bush Institute economic fellows Bud Weinstein and Matthew Denhart put together papers explaining how to integrate some of the economic, energy and immigration policies of the United States, Mexico, and Canada.

Tuesday, March 25, 2014

There was a period in the 1990s when the world was focused on Europe as a major economic power. The continent was integrating through the European Union while former Soviet satellites like Poland were emerging economically.

Thursday, January 30, 2014

It’s hard not to pick up a paper today and read about America’s energy boom, whether from shale gas or crude oil. As one example of the boom, U.S. crude oil production is projected to hit about 10 million barrels a day by the middle of this decade. That would be up from about 6.5 million barrels a day last year.

Wednesday, January 29, 2014

Mitchell Schnurman’s recent column in the Dallas Morning News drives home the importance of the “shale revolution” to the nation’s economic health and global competitive position.  Thanks to this revolution, America today is the world’s number one producer of natural gas, and we’re projected to surpass both Russia and Saudi Arabia to regain the crown as the world’s number one oil producer by 2016.

Wednesday, January 22, 2014

Oil is just another commodity. For the past 40 years, in response to the OPEC embargo of 1973, crude petroleum exports from the U.S. have been severely restricted. Back then, we referred to oil as “liquid gold.” But today, it’s just another globally traded commodity. It’s time to start exporting oil.

Tuesday, January 21, 2014

Global warming notwithstanding, 2013-2014 will likely go down as America’s coldest winter in decades. As of the second week in January, 187 million people were dealing with subfreezing weather, and record low temperatures were being recorded in many eastern and southern communities.

Tuesday, January 07, 2014

The Boston Consulting Group released a study late last month that shows just how much natural gas production can impact American families. And by impact, I mean, help them considerably. The study revealed that the production of natural gas through exploration of shale reserves has driven down domestic natural gas prices by 50 percent since 2005. For consumers, that translates into a lot more than walking around money.

Tuesday, December 31, 2013

The George W. Bush Presidential Center celebrates 2013 with a look at some of our favorite photos of the year. 

Thursday, December 26, 2013

The final post on our November 12 energy conference focuses on the governors and policymakers roundtable, which can be viewed by clicking on the title below. Panel V: Governors and Policymakers Roundtable

Thursday, December 26, 2013

The fourth installment of our November 12 energy conference recap focuses on the exports panel, which can be viewed by clicking on the title below. Panel IV: Energy Exports: The Potential for Growth in Exports

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