Oil and Gas Companies Say They Support Climate Action. Are They Serious?
The LA Times' Boiling Point newsletter cites Fellow Brian Prest's expertise on the possible impacts of a federal oil & gas leasing moratorium.
" I called Brian Prest, an economist who works for the think tank Resources for the Future and wrote a working paper last year examining the possible impacts of a federal leasing moratorium. While some fossil fuel production would, in fact, move to private lands and overseas, there would still be a significant climate benefit, Prest found. That’s because there would be a small uptick in oil and gas prices, and it would prompt at least some individuals and companies to seek out cheaper, cleaner energy options.
'Some of the impact of a higher price is to reduce total consumption,' he told me."
