Brian C. Prest
Fellow; Director, Social Cost of Carbon Initiative
Brian Prest is an economist and fellow at RFF specializing in the economics of climate change, energy economics, and oil and gas supply. Prest uses economic theory and econometrics to improve energy and environmental policies by assessing their impacts on society. His recent work includes improving the scientific basis of the social cost of carbon and economic modeling of various policies around oil and gas supply. His research has been published in peer-reviewed journals such as Nature, the Brookings Papers on Economic Activity, the Journal of the Association of Environmental and Resource Economists, and the Journal of Environmental Economics and Management. His work has also been featured in popular press outlets including the Washington Post, the Wall Street Journal, the New York Times, Reuters, the Associated Press, and Barron’s.
Prest holds a PhD from 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
- Highlights
- Publications
- Events
- Editorial
- News
Testimony and Public Comments — Aug 8, 2023
Updated Estimates of the Social Cost of Greenhouse Gases for Usage in Regulatory Analysis Related to EPA Emissions Guidelines from Existing Fossil Fuel-Fired Generating Units
This comment to the Environmental Protection Agency provides an overview of the best available science on the social cost of carbon related to the agency's proposed revisions to section 111(d) of the Clean Air Act.
Working Paper — Jun 13, 2023
Assessing the Future of Oil and Gas Production and Local Government Revenue in Five Western US Basins
This working paper models how oil and gas production and associated government revenue could change in five western US regions based on future oil and gas prices in three climate policy scenarios.
Testimony and Public Comments — Jun 1, 2023
Comments to OMB on the Proposed Revisions to Circular A-4
To the Office of Management and Budget on proposed revisions to Circular A-4.
Journal Article — May 25, 2023
US Benefit-Cost Analysis Requires Revision
A letter published in the journal Science makes the case for updating benefit-cost analysis to follow the best available data and methods for determining discount rates.
Testimony and Public Comments — Aug 8, 2023
Updated Estimates of the Social Cost of Greenhouse Gases for Usage in Regulatory Analysis Related to EPA Emissions Guidelines from Existing Fossil Fuel-Fired Generating Units
This comment to the Environmental Protection Agency provides an overview of the best available science on the social cost of carbon related to the agency's proposed revisions to section 111(d) of the Clean Air Act.
Working Paper — Jun 13, 2023
Assessing the Future of Oil and Gas Production and Local Government Revenue in Five Western US Basins
This working paper models how oil and gas production and associated government revenue could change in five western US regions based on future oil and gas prices in three climate policy scenarios.
Testimony and Public Comments — Jun 1, 2023
Comments to OMB on the Proposed Revisions to Circular A-4
To the Office of Management and Budget on proposed revisions to Circular A-4.
Journal Article — May 25, 2023
US Benefit-Cost Analysis Requires Revision
A letter published in the journal Science makes the case for updating benefit-cost analysis to follow the best available data and methods for determining discount rates.
Common Resources — Nov 15, 2022
The US Environmental Protection Agency Introduces a New Social Cost of Carbon for Public Comment
The US Environmental Protection Agency has introduced an updated approach to estimating the social cost of carbon that incorporates important scientific and statistical advances.
Common Resources — Oct 27, 2022
How Can Hydrogen Producers Show That They Are “Clean”?
To derive the value of hydrogen fuel tax credits in the Inflation Reduction Act, the US Treasury Department must assess the life-cycle emissions of hydrogen production, including upstream electricity use. Assessing these life-cycle emissions is difficult.
In Focus — Sep 9, 2022
In Focus: An Updated Social Cost of Carbon
This video shares insights on the social cost of carbon and its important role in policymaking, with RFF Fellow and Director of RFF’s Social Cost of Carbon Initiative Brian C. Prest.
Resources Radio — Sep 6, 2022
A New Social Cost of Carbon, with Brian C. Prest and Kevin Rennert
Brian C. Prest and Kevin Rennert discuss their updated estimate of the social cost of carbon and its implications for policymaking.
Media Highlight — Jul 17, 2023
E&E News: "EPA's Carbon Metric May Underestimate Climate Change—At Least for Now"
RFF Fellow Brian Prest is quoted in an article about the need for accurate climate damage models.
Press Release — Jun 13, 2023
Public Revenue in Oil- and Gas-Producing Regions Dependent on Fiscal, Climate Policies
New modeling from Resources for the Future reveals a mosaic of potential fiscal impacts on America’s oil- and gas-producing regions.
Media Highlight — Apr 14, 2023
Yale Climate Connections: "Drastic Climate Action Is the Best Course for Economic Growth, New Study Finds"
RFF Fellow Brian Prest comments on a new study that finds the economic benefits of climate action outweigh the costs.
Media Highlight — Mar 29, 2023
Axios: "One Useful Thing: Apples-to-Apples Energy Outlooks"
A segment in Axios' Generate newsletter highlights the big-picture findings from RFF's 2023 iteration of the Global Energy Outlook report.