Barron's: "OPEC Is Losing Its Power in Setting Oil Prices. What It Means for Stocks."
An article in Barron's about the global oil market, war in Ukraine, and the US' strategic petroleum reserve quotes RFF President and CEO Richard Newell and cites a study he co-authored.
Past U.S. releases have shaved 15% to 20% off prices, according to a 2017 study by nonprofit research organization Resources for the Future, or RFF. And those prior releases were much smaller—during the Libya conflict in 2011, the U.S. sold 60 million barrels. President Joe Biden’s emergency release was 180 million barrels, though stretched out over a longer period of time. Richard Newell, an author of the paper and the president of RFF, says it’s difficult to pinpoint the exact financial impact of this year’s SPR release, but that it was almost certainly more than the prior releases he studied.
Richard G. Newell
President and CEO, Resources for the Future
Dr. Richard G. Newell is the President and CEO of Resources for the Future. From 2009 to 2011, he served as the administrator of the US Energy Information Administration, the agency responsible for official US government energy statistics and analysis.
Issue Brief — Sep 27, 2023
45V Hydrogen Tax Credit in the Inflation Reduction Act: The Role of New Clean Electricity
The fourth and final piece of a series exploring the implementation of the Inflation Reduction Act's 45V hydrogen tax credit, this issue brief considers two studies that assume all generation built in response to new demand is clean.
On the Issues — Sep 8, 2023
On the Issues: US Mining, Methane Leaks, and More
A biweekly newsletter connecting global current events, pressing climate and energy policy news, and economics research from RFF scholars. This week: US mining, methane leaks, and more.
Resources Radio — Aug 29, 2023
How Leaky is the Offshore Oil and Gas Industry?, with Eric Kort
Eric Kort discusses methane emissions from the US oil and gas sector at onshore and offshore extraction sites, alongside efforts to reduce these emissions.