Transporting Hydrocarbons and Economics of Energy Markets
Organized by James B. Bushnell, Meredith Fowlie, Ryan Kellogg, Christopher R. Knittel, and Erin T. Mansur
Supported by the Alfred P. Sloan Foundation and the National Science Foundation
May 23-24, 2017
Almas Conference Center, Oval Office Room, 1315 K Street, Washington, DC
Tuesday, May 23
Transporting Hydrocarbons
Supported by the Alfred P. Sloan Foundation
James B. Bushnell, Ryan Kellogg, and Erin T. Mansur, Organizers
7:30 am
Continental Breakfast
8:45 am
Welcome and Introductions
9:00 am

Crude by Rail, Option Value, and Railroad Market Power

Thomas Covert, University of Chicago and NBER
Ryan Kellogg, University of Chicago and NBER
9:45 am

Regulation by Price Benchmarks: Protecting Small Shippers from the Exercise of Railroad Market Power

Frank A. Wolak, Stanford University and NBER
Wesley W. Wilson, University of Oregon
10:30 am
Break
10:45 am

Food vs. Fuel? Impacts of Petroleum Shipments on Agricultural Prices

James B. Bushnell, University of California, Davis and NBER
Jonathan E. Hughes, University of Colorado Boulder
Aaron Smith, University of California, Davis
11:30 am

Analyzing Transport Options for Crude Oil

Charles Mason, University of Wyoming
12:15 pm
Lunch -- West Wing Room
Panel
Howard Gruenspecht, Energy Information Agency, U.S. Department of Energy
Paul Joskow, Alfred P. Sloan Foundation
Richard Newell, Resources for the Future
2:00 pm

Crude Oil Price Differentials and Pipeline Infrastructure

Shaun McRae, Instituto Tecnológico Autónomo de México (ITAM)
2:45 pm

What Lies Beneath: Pipeline Awareness and Aversion

Evan M. Herrnstadt, Congressional Budget Office
Richard Sweeney, Boston College
3:30 pm
Break
3:45 pm

The Social Cost from Moving Crude Oil by Pipelines and Railroads: Evidence from the Bakken

Karen Clay, Carnegie Mellon University and NBER
Akshaya Jha, Carnegie Mellon University and NBER
Nicholas Muller, Carnegie Mellon University and NBER
Randall Walsh, University of Pittsburgh and NBER
4:30 pm

Competition and Pass-through of Input Cost Shocks: Evidence from the U.S. Fracking Boom

Erich Muehlegger, University of California, Davis and NBER
Richard Sweeney, Boston College
5:15 pm

A Macroeconomic Analysis of Lifting the U.S. Crude Oil Export Ban

Nida Cakir Melek, Federal Reserve Bank of Kansas City
Michael Plante, Federal Reserve Bank of Dallas
Mine Kuban Yucel, Federal Reserve Bank of Dallas
6:00 pm
Adjourn
6:30 pm
Group Dinner at the Almas Temple-West Wing Room
Wednesday, May 24
Economics of Energy Markets
Supported by the U.S. Department of Energy and the National Science Foundation
Meredith Fowlie and Christopher R. Knittel, Organizers
8:00 am
Continental Breakfast
8:30 am

Evaluating a Discretionary Safety Valve:<Br> The Economic and Environmental Impacts of Waiving Fuel Content Regulations in Response to Supply Shocks

Joseph E. Aldy, Harvard University and NBER
9:15 am

Did the Renewable Fuel Standard Shift Market Expectations of the Price of Ethanol?

Christiane J.S. Baumeister, University of Notre Dame and NBER
Reinhard Ellwanger, Bank of Canada
Lutz Kilian, Federal Reserve Bank of Dallas
10:00 am
Break
10:15 am

The Costs of Inefficient Regulation: Evidence from the Bakken

Gabriel E. Lade, Macalester College
Ivan J. Rudik, Cornell University and NBER
11:00 am

Heterogeneous Misperceptions of Energy Costs: Implications for Measurement and Policy Design

Sebastien Houde, HEC Lausanne
Erica Myers, University of Calgary and NBER
11:45 am
Lunch -- West Wing Room
1:00 pm

Household Discount Rates and Net Energy Metering Incentives for Rooftop Solar Adoption

Steven E. Sexton Bryan Bollinger, Dartmouth College
Kenneth Gillingham, Yale University and NBER
1:45 pm

The Incidence of Carbon Taxes in U.S. Manufacturing: Lessons from Energy Cost Pass-Through

Sharat Ganapati, Georgetown University and NBER
Joseph S. Shapiro, University of California, Berkeley and NBER
Reed Walker, University of California, Berkeley and NBER
2:30 pm
Break
2:45 pm

Optimal Network Tariffs for Renewable Electricity Generation

Frank A. Wolak, Stanford University and NBER
Thomas P. Tangerås, Research Institute of Industrial Economics
3:00 pm

Informing SPR Policy Through Oil Futures and Inventory Dynamics

Richard G. Newell, Resources for the Future
Brian C. Prest, Resources for the Future
4:15 pm
Adjourn