New drilling techniques for oil and natural gas are propelling an energy production renaissance in the United States. As the US economy struggles to emerge from the Great Recession, many see the boom as a possible source of economic salvation that could reduce unemployment and revitalize American manufacturing. Until now, however, there has been little objective analysis of the energy boom's economic consequences. In this major study, Trevor Houser and Shashank Mohan fill that gap. They assess the impact of the recent and projected increase in domestic energy production on US GDP, employment growth, manufacturing competitiveness, household expenditures, and international trade balance. Alongside its economic impact, the American energy revolution is raising new environmental and trade policy questions. What are the consequences for the environment and global warming of increased domestic oil and gas production? Should companies be allowed to export the energy they produce or will doing so undermine American manufacturing competitiveness? Houser and Mohan provide independent research and analysis that will help policymakers navigate these issues.
About the Author
Trevor Houser, visiting fellow at the Peterson Institute for International Economics during 2009-15, is partner at the Rhodium Group, where he leads the firm's energy and natural resources practice. He also codirects the Climate Impact Lab, a collaboration of leading research institutions combining climate, economic, and data science to quantify the risks climate change presents. During 2009, he served as senior advisor to the US State Department, where he worked on a broad range of international energy and environmental policy issues. His areas of research include energy and environmental policy and markets and energy-related international trade and investment issues. He is author or coauthor of The Economic Risks of Climate Change: An American Prospectus (2015), Leveling the Carbon Playing Field: International Competition and US Climate Policy Design (2008), and China Energy: A Guide for the Perplexed (2007). Shashank Mohan is a director at RHG, where he works across the company's practice areas to analyze the impact of policy proposals and structural developments on specific markets and broader economic trends. Prior to RHG, he worked with Columbia University s Earth Institute and the World Bank to design an electricity expansion model for Kenya and Senegal and was a program assistant at the South Asia Institute. He holds an MPA from the School of International and Public Affairs at Columbia University and is a graduate of the Indian Institute of Technology (IIT) Kharagpur.