Brian C. Prest

Brian C. Prest
Brian C. Prest
Fellow; Director, Social Cost of Carbon Initiative
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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 the design of energy and environmental policies. 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
, the
Economist
, 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
Topics
Social Cost of Carbon
Electric Power
Public and Private Lands
Land Use, Forestry, and Agriculture
Industry and Fuels
Fossil Fuels
Climate Risks and Resilience
Comprehensive Climate Strategies
Federal Climate Policy
RFF-Berkeley Greenhouse Gas Impact Value Estimator (GIVE) Model
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Events
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News
Energy and the Iran War: What We’re Watching
Global energy markets are in turmoil due to conflict in Iran. Although the United States is the top global oil and gas producer, it has limited options in relieving global supply strains.
CNBC: “Trump Can’t ‘Drill, Baby, Drill’ His Way Out of This Iran-Inspired Oil Crisis: Experts”
RFF Fellow Brian C. Prest comments on whether more domestic drilling can make up for global oil supply constraints.
Evidence and Policy: Resources for the Future Responds to Proposed Federal Rules
Resources for the Future regularly posts public comments in response to major policy proposals within the purview of our research. Some recent highlights, published here as a Q&A with some key researchers, were presented in a recent event.
Associated Press: “States Brace for Trump’s Push to Make Oil Drilling Cheap Again”
Analysis and insights from RFF Fellow Brian Prest are integral to this article about recent policy proposals to make oil and gas drilling cheaper on federal land.
Comment on Chapter 11, “Climate Change, the Economy, and the Social Cost of Carbon,” in a report produced by the US Department of Energy’s Climate Working Group
This public comment presents usages of economic concepts and their application in the CWG report titled A Critical Review of Impacts of Greenhouse Gas Emissions on the US Climate, along with references to recent advances in the relevant literature.
Comment on the Repeal of Greenhouse Gas Emissions Standards for Fossil Fuel-Fired Electric Generating Units
This public comment analyzes the proposal’s effects, including on overall greenhouse gas emissions, electricity prices, and ratepayer electricity costs.
Circular A-4: Practical Advances in Discounting for Policy Decisions
This article explores recent revisions to US federal discounting guidance and their implications for long-term policy analysis.
The Energy Transition for Oil- and Gas-Producing Tribal Nations: Assessing Options for Energy Development with the Southern Ute Indian Tribe
This working paper presents the results of a multiyear collaboration with the Southern Ute Indian Tribe—a major natural gas–producing Tribal Nation that relies heavily on fossil fuel extraction and related infrastructure—to support a just economic and ene
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Native Nations in the Energy Transition
Native Nations in the Energy Transition
Shifting Ground: Changes in Public Land Policies
The second event in RFF’s If/Then series, which presents insights about substantive developments in environmental and energy policy.
An Updated Social Cost of Carbon: Calculating the Cost of Climate Change
A multi-institutional research team unveils its updated estimate of the social cost of carbon
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Energy and the Iran War: What We’re Watching
Global energy markets are in turmoil due to conflict in Iran. Although the United States is the top global oil and gas producer, it has limited options in relieving global supply strains.
Evidence and Policy: Resources for the Future Responds to Proposed Federal Rules
Resources for the Future regularly posts public comments in response to major policy proposals within the purview of our research. Some recent highlights, published here as a Q&A with some key researchers, were presented in a recent event.
If/Then: New Cuts to Oil and Gas Royalty Rates in Budget Reconciliation Will Reduce Federal Revenues
Companies may soon pay lower rates to drill oil and gas on publicly owned lands, due to a new legislative proposal, which would cut $6 billion in federal revenues over the next decade and tens of billions thereafter, with similar losses for states.
Economic and Environmental Effects of Natural Gas Exports, with Brian C. Prest
Brian C. Prest discusses liquefied natural gas exports from the United States, including the effects of increasing exports on domestic energy prices and methane emissions and the ability of the federal government to influence production.
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CNBC: “Trump Can’t ‘Drill, Baby, Drill’ His Way Out of This Iran-Inspired Oil Crisis: Experts”
RFF Fellow Brian C. Prest comments on whether more domestic drilling can make up for global oil supply constraints.
Associated Press: “States Brace for Trump’s Push to Make Oil Drilling Cheap Again”
Analysis and insights from RFF Fellow Brian Prest are integral to this article about recent policy proposals to make oil and gas drilling cheaper on federal land.
Inside Climate News: “Trump’s Plans to Expand Offshore Drilling Meet Bipartisan Opposition”
RFF Fellow Brian Prest comments on the demand for federal offshore oil and gas leases.
The New York Times: “Candidate Trump Promised Oil Executives a Windfall. Now, They’re Getting It.”
An If/Then analysis by RFF Fellow Brian Prest is cited in this piece about federal oil and gas policy.
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