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
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Common Resources — Apr 17, 2024
After the Pause: Understanding the Economic, Environmental, and Geopolitical Implications of Increased US Liquefied Natural Gas Exports
As the Biden administration temporarily pauses approvals for building new export facilities that transport liquefied natural gas, we’ve assembled a primer on the national and global implications of the US increasing exports of this important fuel.
Testimony and Public Comments — Apr 10, 2024
Public Comment on the International Foundation for Valuing Impacts' Greenhouse Gas Emissions Methodology
This comment to the International Foundation for Valuing Impacts addresses the organization's greenhouse gas emissions methodology.
Media Highlight — Apr 2, 2024
Axios: “One Useful Thing: Comparing Possible Futures”
The Axios Generate newsletter features this year’s Global Energy Outlook report from RFF.
Report — Apr 2, 2024
Global Energy Outlook 2024: Peaks or Plateaus?
RFF's annual Global Energy Outlook harmonizes a range of long-term energy projections to find key trends in global energy consumption, emissions, and geopolitics.
Testimony and Public Comments — Apr 10, 2024
Public Comment on the International Foundation for Valuing Impacts' Greenhouse Gas Emissions Methodology
This comment to the International Foundation for Valuing Impacts addresses the organization's greenhouse gas emissions methodology.
Report — Apr 2, 2024
Global Energy Outlook 2024: Peaks or Plateaus?
RFF's annual Global Energy Outlook harmonizes a range of long-term energy projections to find key trends in global energy consumption, emissions, and geopolitics.
Report — Mar 13, 2024
Operational versus Capital Expenditure Risk in a Clean Energy Transition
This report analyzes the differences between risk profiles posed by fossil assets and "green" alternative assets.
Working Paper — Oct 23, 2023
Disentangling the Roles of Growth Uncertainty, Discounting, and the Climate Beta on the Social Cost of Carbon
This working paper clarifies the conceptual effect of uncertainty in future economic growth on the social cost of carbon.
Common Resources — Apr 17, 2024
After the Pause: Understanding the Economic, Environmental, and Geopolitical Implications of Increased US Liquefied Natural Gas Exports
As the Biden administration temporarily pauses approvals for building new export facilities that transport liquefied natural gas, we’ve assembled a primer on the national and global implications of the US increasing exports of this important fuel.
Common Resources — Mar 21, 2024
Feedbacks between Emissions Markets and Political Outcomes: A Case Study of Washington State’s Cap-and-Trade Program
A simple model described here shows feedbacks between emissions markets and policy change: in an upcoming referendum to repeal a cap-and-trade program in Washington, the price of emissions allowances can affect and be affected by potential voter behavior.
Common Resources — Feb 6, 2024
Accurately Quantifying “Super-Emitting” Leaks Is Key for the Methane Fee to Be Effective
As the US Environmental Protection Agency begins enforcing methane fees on the oil and gas industry, an important question begs answering: How can regulators best calculate the true extent of methane leaks?
In Focus — Dec 19, 2023
In Focus: The US Environmental Protection Agency’s New Social Cost of Carbon
This video shares insights about the new estimate of the social cost of carbon that was recently published by the US Environmental Protection Agency, with RFF Fellow Brian C. Prest.
Media Highlight — Apr 2, 2024
Axios: “One Useful Thing: Comparing Possible Futures”
The Axios Generate newsletter features this year’s Global Energy Outlook report from RFF.
Media Highlight — Mar 18, 2024
Marketplace: “New Fees and New Tech May Curb Methane Emissions”
RFF Fellow Brian Prest gives some background on methane leakage in a story about how the United States can work to reduce methane emissions.
Media Highlight — Mar 3, 2024
The Hill: “Would Limiting US Fossil Fuel Production Actually Help Climate Change?”
A story about the relationship between fossil fuel demand and supply quotes RFF Fellow Brian Prest.
Media Highlight — Jan 11, 2024
POLITICO/E&E News: “4 Things to Know about EPA‘s New Climate Damage Metric”
An article in E&E News and POLITICO‘s Power Switch newsletter quote RFF Fellow Brian Prest.