Transporting Hydrocarbons and Economics of Energy Markets

James B. Bushnell, Meredith Fowlie, Ryan Kellogg, Christopher R. Knittel, and Erin T. Mansur, Organizers

May 23-24, 2017

Almas Conference Center, Oval Office Room, 1315 K Street, Washington, DC

Conference Code of Conduct

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
Thomas Covert, University of Chicago and NBER
Ryan Kellogg, University of Chicago and NBER

Crude by Rail, Option Value, and Railroad Market Power
9:45 am
Frank A. Wolak, Stanford University and NBER
Wesley W. Wilson, University of Oregon

Regulation by Price Benchmarks: Protecting Small Shippers from the Exercise of Railroad Market Power
10:30 am
Break
10:45 am
James B. Bushnell, University of California, Davis and NBER
Jonathan E. Hughes, University of Colorado at Boulder
Aaron Smith, University of California, Davis

Food vs. Fuel? Impacts of Petroleum Shipments on Agricultural Prices
11:30 am
Charles Mason, University of Wyoming

Analyzing Transport Options for Crude Oil
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
Shaun McRae, Instituto Tecnológico Autónomo de México

Crude Oil Price Differentials and Pipeline Infrastructure
2:45 pm
Evan M. Herrnstadt, Congressional Budget Office
Richard Sweeney, Boston College

What Lies Beneath: Pipeline Awareness and Aversion
3:30 pm
Break
3:45 pm
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

The Social Cost from Moving Crude Oil by Pipelines and Railroads: Evidence from the Bakken
4:30 pm
Erich Muehlegger, University of California, Davis and NBER
Richard Sweeney, Boston College

Competition and Pass-through of Input Cost Shocks: Evidence from the U.S. Fracking Boom
5:15 pm
Nida Cakir Melek, Federal Reserve Bank of Kansas City
Michael Plante, Federal Reserve Bank of Dallas
Mine Kuban Yucel, Federal Reserve Bank of Dallas

A Macroeconomic Analysis of Lifting the U.S. Crude Oil Export Ban
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
Joseph E. Aldy, Harvard University and NBER

Evaluating a Discretionary Safety Valve:
The Economic and Environmental Impacts of Waiving Fuel Content Regulations in Response to Supply Shocks
9:15 am
Christiane J.S. Baumeister, University of Notre Dame and NBER
Reinhard Ellwanger, Bank of Canada
Lutz Kilian, Federal Reserve Bank of Dallas

Did the Renewable Fuel Standard Shift Market Expectations of the Price of Ethanol?
10:00 am
Break
10:15 am
Gabriel E. Lade, Macalester College
Ivan J. Rudik, Cornell University

The Costs of Inefficient Regulation: Evidence from the Bakken
11:00 am
Sebastien Houde, Grenoble Ecole de Management
Erica Myers, University of Calgary and NBER

Heterogeneous Misperceptions of Energy Costs: Implications for Measurement and Policy Design
11:45 am
Lunch -- West Wing Room
1:00 pm
Steven E. Sexton
Bryan Bollinger, New York University
Kenneth Gillingham, Yale University and NBER

Household Discount Rates and Net Energy Metering Incentives for Rooftop Solar Adoption
1:45 pm
Sharat Ganapati, Georgetown University and NBER
Joseph S. Shapiro, University of California, Berkeley and NBER
Reed Walker, University of California, Berkeley and NBER

The Incidence of Carbon Taxes in U.S. Manufacturing: Lessons from Energy Cost Pass-Through
2:30 pm
Break
2:45 pm
Frank A. Wolak, Stanford University and NBER
Thomas P. Tangerås, Research Institute of Industrial Economics

Optimal Network Tariffs for Renewable Electricity Generation
3:00 pm
Richard G. Newell, Resources for the Future
Brian C. Prest, Resources for the Future

Informing SPR Policy Through Oil Futures and Inventory Dynamics
4:15 pm
Adjourn