Brian C. Prest
Fellow; Director, Social Cost of Carbon Initiative
Brian Prest is an economist and Fellow at Resources for the Future specializing in climate change, oil and gas, and energy economics. Prest uses economic theory and econometric models to improve energy and environmental policies by assessing their impacts on markets and pollution outcomes. His recent work includes improving the scientific basis of the social cost of carbon (SCC) and economic modeling of federal oil and gas leasing policies that account for the SCC as part of royalties. He also uses machine learning techniques to improve understanding of household electricity demand and time-varying pricing. His past work includes econometric modeling of the US oil and gas industry, evaluating the effects of coal subsidies on emissions, understanding the economic effects of rising temperatures, modeling the market dynamics of climate change policy under policy uncertainty. His work has appeared in peer-reviewed journals including the Brookings Papers on Economic Activity, the Journal of the Association of Environmental and Resource Economists, the Journal of Environmental Economics and Management, Energy Economics, and The Energy Journal.
Prior to joining RFF, Prest earned his PhD at Duke University and previously worked in both the public and private sectors. At the Congressional Budget Office, he developed economic models of various energy sectors to analyze the effects of proposed legislation, including the 2009 Waxman-Markey cap-and-trade bill and related Clean Electricity Standards. At NERA Economic Consulting, he conducted electricity market modeling, project valuation, and discounted cash flow analysis of various infrastructure investments in the United States, Latin America, Europe, Africa, and Southeast Asia, with a focus on the power sector.
Education
- PhD in environmental and resource economics, Duke University, 2018
- BA in economics, Williams College, 2009
Featured Content
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- Resources Magazine
Report — Apr 21, 2022
Partners, Not Rivals: The Power of Parallel Supply-Side and Demand-Side Climate Policy
This report examines how supply- and demand-side policies, when pursued in tandem, can help mitigate emissions leakage.
Report — Apr 7, 2022
Global Energy Outlook 2022: Turning Points and Tension in the Energy Transition
RFF's annual Global Energy Outlook report examines a range of projections for the global energy system, summarizing key implications for global energy consumption, emissions, and geopolitics.
Testimony and Public Comments — Jan 14, 2022
Comments to EPA on Updated Estimates of the Social Cost of Methane for Usage in Regulatory Analysis
Comments to EPA on Updated Estimates of the Social Cost of Methane for Usage in Regulatory Analysis
Journal Article — Dec 13, 2021
Supply-Side Reforms to Oil and Gas Production on Federal Lands: Modeling the Implications for CO2 Emissions, Federal Revenues, and Leakage
This journal article models the effects of three policy reforms targeting federal oil and gas production, highlighting the trade-offs between revenue maximization and emissions reduction for each policy.
Report — Apr 21, 2022
Partners, Not Rivals: The Power of Parallel Supply-Side and Demand-Side Climate Policy
This report examines how supply- and demand-side policies, when pursued in tandem, can help mitigate emissions leakage.
Report — Apr 7, 2022
Global Energy Outlook 2022: Turning Points and Tension in the Energy Transition
RFF's annual Global Energy Outlook report examines a range of projections for the global energy system, summarizing key implications for global energy consumption, emissions, and geopolitics.
Testimony and Public Comments — Jan 14, 2022
Comments to EPA on Updated Estimates of the Social Cost of Methane for Usage in Regulatory Analysis
Comments to EPA on Updated Estimates of the Social Cost of Methane for Usage in Regulatory Analysis
Journal Article — Dec 13, 2021
Supply-Side Reforms to Oil and Gas Production on Federal Lands: Modeling the Implications for CO2 Emissions, Federal Revenues, and Leakage
This journal article models the effects of three policy reforms targeting federal oil and gas production, highlighting the trade-offs between revenue maximization and emissions reduction for each policy.
Media Highlight — May 26, 2022
E&E News: "How Pausing the Social Cost of Carbon Affected Regulation"
Fellow Brian Prest comments on the relationship between the social cost of carbon and federal oil and gas leasing.
Media Highlight — Apr 22, 2022
Associated Press: "Explainer: Can Climate Change Be Solved by Pricing Carbon?"
Fellow Brian Prest is quoted in an Associated Press explainer about carbon pricing and the policy option's future.
Press Release — Apr 21, 2022
For Policies That Target Oil Demand and Supply, You Can Have Your Cake and Eat It Too
Combining equally ambitious policies that target oil demand and supply could reduce emissions and mitigate price impacts, according to a new report.
Press Release — Apr 7, 2022
As Energy Prices and Carbon Emissions Rebound, Uncertainty Pervades the Global Energy Future
Resources for the Future’s Global Energy Outlook 2022 shows our world at a crossroads – with volatile energy prices amid global tumult, 19 scenarios provide divergent potential futures for the energy mix and climate change.
Common Resources — Apr 15, 2022
Partners, Not Rivals: Supply- and Demand-Side Policies Pursued in Parallel Can Mitigate or Eliminate Leakage
As policymakers set priorities, it’s vital to recognize the advantages of pursuing supply- and demand-side policies in tandem for oil and gas. Both types of policies in parallel can minimize greenhouse gas emissions, leakage, and impacts on energy prices.
Resources Magazine — Oct 21, 2021
Working Toward a New Social Cost of Carbon
The social cost of carbon (SCC) can have a major impact on the US government's climate regulations, but estimating its value can get complicated. RFF researchers aim to make the best possible estimate using cutting-edge empirical and scientific data.
Resources Magazine — Oct 21, 2021
Improving Discounting in the Social Cost of Carbon
The social cost of carbon (SCC) is a critical number for the influence it can have on US climate policies and regulations. New RFF research aims to improve the SCC by carefully and empirically determining the most appropriate discount rate.
Resources Magazine — Oct 21, 2021
Celebrating Nature with #MyResources
In addition to their economic benefits, outdoor spaces also provide physical and psychological perks. Share in the fun of RFF staff and scholars who like getting out and about and have reflected on some of their favorite natural spots and national parks.