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Richard G. Newell

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Richard G. Newell
7th Administrator of the Energy Information Administration
In office
August 3, 2009 – July 1, 2011
PresidentBarack Obama
Preceded byGuy Caruso
Succeeded byAdam Sieminski
Personal details
Born1965
EducationRutgers University (BA)
Rutgers University (BS)
Princeton University (MPA)
Harvard University (PhD)

Richard G. Newell (born 1965[1]) is an American energy economist, environmental economist, and climate policy expert who served as the seventh administrator of the United States Energy Information Administration from 2009 to 2011.[2] He is currently the president and CEO of Resources for the Future, a nonprofit environmental economics research and policy institute in Washington, D.C.[3] He has previously served as Senior Economist for Energy and Environment on the President's Council of Economic Advisers and as Professor of Energy and Environmental Economics at Duke University.[4]

Newell is often cited as an authority on climate, energy, and environmental policy issues in major media outlets like the Financial Times,[5][6][7][8] The New York Times,[9][10][11] The Wall Street Journal,[12][13] The Washington Post,[14] NPR,[15] and C-SPAN.[16] He has testified on multiple occasions in the United States Senate[17][18] and House of Representatives.[19][20] He has been described by former US Secretary of Energy Steven Chu as "a leading expert on the economics of energy and environmental markets, policies, and technologies."[21]

Early life and education

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Newell earned a Ph.D. from Harvard University in 1997 in public policy, specializing in environmental and resource economics. Newell holds an MPA from the Princeton School of Public and International Affairs, as well as a BS in materials engineering and a BA in philosophy from Rutgers University.[22]

Career

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In the 1990s and early 2000s, Newell was a senior associate at the global advisory and digital services provider ICF International, a teaching fellow at Harvard University, and a senior fellow at Resources for the Future.[23] During 2005–2006, Newell served as Senior Economist for Energy and Environment on the President's Council of Economic Advisers, where he worked with chairman Ben Bernanke, providing economic analysis on issues including energy market disruptions, energy innovation, automobile fuel economy, and renewable fuels.[24] Newell later joined Duke University as the Gendell Professor of Energy and Environmental Economics at the Nicholas School of the Environment. There, he taught from 2007 to 2016, and in 2011 also became a professor in the university's economics department. Newell founded and directed the Duke University Energy Initiative and directed the university's Energy Data Analytics Lab.[23]

Newell took a leave of absence from the university when he was confirmed by the Senate as the seventh administrator of the U.S. Energy Information Administration (EIA)[25][21] after being nominated by President Barack Obama.[26] He held the position from August 3, 2009[22] to July 1, 2011.[27] In the role, he was responsible for directing responsible collection, analysis, and dissemination of unbiased energy information to promote sound policymaking by the United States government.[28] Newell left Duke University in 2016, but remained an adjunct professor at the Nicholas School.[4]

In 2016, Newell became the president and CEO of the Washington, D.C.-based environmental economics think tank, Resources for the Future. He previously worked as a senior fellow at the organization from 1997 to 2006 and has served on its board of directors since 2011.[24] His research work at the organization covers climate policy, energy innovation, the social cost of carbon, energy efficiency, energy markets, and global energy outlooks.[29]

Testimony, Analysis, and Commentary

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Newell has testified on multiple occasions in front of the United States Senate Committee on Energy and Natural Resources,[23][30] most recently on global climate emissions trends and clean energy advancements.[30] He has also testified in front of the United States Senate Committee on Agriculture, Nutrition, and Forestry, the United States House Committee on Natural Resources, and the United States House Energy Subcommittee on Energy.[23] He has been cited in The New York Times on the impacts of the US withdrawal from the Paris Agreement[31] and the impacts of Trump administration energy policy.[32][33]

Newell co-chaired the multi-disciplinary committee formed by the National Academy of Sciences to inform revisions to estimates of the social cost of carbon. He has been cited as an authority on the social cost of carbon in media outlets like Bloomberg News,[34] the Financial Times,[7] and The New York Times,[35] and published commentaries on it in Barron's.[36]

He has also written about the global energy transition for Axios.[37] His analysis on this subject has featured prominently in the Financial Times,[38][39] which described it as "thought provoking":

[Newell] argued that "there has never been an energy transition" because, as each new technology has emerged, it has merely added to older sources, rather than replacing them.

— Ed Crooks, Financial Times[38]

Newell goes on that “To avoid the worst impacts of climate change, the story of energy requires a new script. A true energy transition will be a story of addition but also one of subtraction—in particular, reducing carbon emissions.”[38]

Notable Research, Awards, and Memberships

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Newell has published widely on topics such as energy innovation,[40] climate policy,[41] and energy efficiency.[42] Newell was awarded the USAEE Adelman-Frankel Award from the US Association for Energy Economics in 2018 for contributions to the field of energy economics.[43] His 2002 paper, "The Induced Innovation Hypothesis and Energy-Saving Technological Change," earned the 2017 Publication of Enduring Quality Award from the Association of Environmental and Resource Economists.[44] His 2003 paper, "Discounting the Distant Future: How Much Do Uncertain Rates Increase Valuations?" was awarded the 2006 Petry Prize for the Economics of Climate Change, and later informed estimation methods for the social cost of carbon.[45][46]

Newell has been a research associate at the National Bureau of Economic Research and a member of the USAEE, American Economics Association, and Association of Environmental and Resource Economics.[23] He has served on advisory boards of the National Academy of Sciences and other institutions.[47]

References

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  1. ^ "WorldCat". WorldCat. Retrieved 5 September 2021.
  2. ^ "Previous Administrators". U.S. Energy Information Association. Retrieved 5 September 2021.
  3. ^ "Richard Newell". Resources for the Future. Retrieved 5 September 2021.
  4. ^ a b "Richard Newell". Nicholas School of the Environment. Duke University. Retrieved 5 September 2021.
  5. ^ McCormick, Myles; Jacobs, Justin (8 June 2021). "Big Oil Stays the Course After Investors Flex Climate Action Muscle". The Financial Times. Retrieved 5 September 2021.
  6. ^ Houlder, Vanessa (3 February 2021). "Lex in-depth: how carbon prices will transform industry". The Financial Times. Retrieved 5 September 2021.
  7. ^ a b Nauman, Billy (22 January 2021). "What you may have missed in Joe Biden's climate executive orders". The Financial Times. Retrieved 5 September 2021.
  8. ^ Shrikanth, Siddarth (20 July 2020). "Investors line up for the post-pandemic green recovery". The Financial Times. Retrieved 5 September 2021.
  9. ^ Rogers, Katie; Davenport, Coral (8 July 2019). "Trump Saw Opportunity in Speech on Environment. Critics Saw a "1984 Moment"". The New York Times. Retrieved 5 September 2021.
  10. ^ Davenport, Coral; Glueck, Katie (4 June 2019). "Climate Change Takes Center Stage as Biden and Warren Release Plans". The New York Times. Retrieved 5 September 2021.
  11. ^ Davenport, Coral; Gabriel, Trip (4 September 2019). "Climate Town Hall: Several Democratic Candidates Embrace a Carbon Tax". The New York Times. Retrieved 8 July 2021.
  12. ^ Gold, Russell; Eaton, Collin (23 April 2021). "Biden's Pledge to Slash Emissions Would Require Big U.S. Changes". The Wall Street Journal. Retrieved 3 September 2021.
  13. ^ Gold, Russell (18 March 2020). "U.S. Power Use Weakening After Plunging in Italy Amid Coronavirus". The Wall Street Journal. Retrieved 4 September 2021.
  14. ^ Dennis, Brady; Grandoni, Dino (7 November 2018). "Voters rejected most ballot measures aimed at curbing climate change". The Washington Post. Retrieved 4 September 2021.
  15. ^ Joyce, Christopher (3 March 2011). "Calls Renewed For Friendlier Sources Of Oil". Retrieved 3 September 2021.
  16. ^ "Global Energy Market". C-SPAN. 1 July 2019. Retrieved 4 September 2021.
  17. ^ US Senate Committee on Agriculture, Nutrition and Forestry (30 March 2011). "Hearing on "Fundamentals and Farming: Evaluating High Gas Prices and How New Rules and Innovative Farming Can Help"" (PDF). Retrieved 4 September 2021.
  18. ^ US Senate Committee on Energy and Natural Resources (3 February 2011). "Full Committee Hearing on the Energy and Oil Market Outlook for the 112th Congress". Retrieved 4 September 2021.
  19. ^ US House Committee on Natural Resources (17 March 2011). "Oversight Hearing on "Harnessing American Resources to Create Jobs and Address Rising Gasoline Prices: Domestic Resources and Economic Impacts"". Retrieved 4 September 2021.
  20. ^ US House of Representatives Committee on Energy and Commerce, Subcommittee on Energy and Power (10 February 2011). "The Effect of Middle East Events on U.S. Energy Markets" (PDF). Retrieved 4 September 2021.
  21. ^ a b Energy Information Administration (4 August 2009). "EIA Welcomes Richard G. Newell as New Administrator". Rigzone. Retrieved 5 September 2021.
  22. ^ a b "Richard Newell". Energy.gov. U.S. Department of Energy. Retrieved 5 September 2021.
  23. ^ a b c d e Newell, Richard G. "Resume" (PDF). Retrieved 5 September 2021.
  24. ^ a b Nelson, Peter (23 May 2016). "Richard G. Newell Named Next President of RFF". Resources. Resources for the Future. Retrieved 5 September 2021.
  25. ^ Barrett, Barbara (1 November 2009). "EIA: A Tiny Agency with a Big Role in Energy Debate". McClatchy Newspapers. Retrieved 5 September 2021.
  26. ^ Ling, Katherine (31 July 2009). "Senate Confirms Obama Pick for EIA". E&E News. Retrieved 5 September 2021.
  27. ^ Reuters Staff (13 June 2011). "CORRECTED - U.S. EIA Head Newell to Leave Energy Job July 1". Reuters. Retrieved 5 September 2021.
  28. ^ "About EIA". U.S. Energy Information Administration. Retrieved 5 September 2021.
  29. ^ "Publications by Richard G. Newell". Resources for the Future. Retrieved 5 September 2021.
  30. ^ a b US Senate Committee on Energy and Natural Resources (3 February 2021). "Full Committee Hearing to Examine Global Climate Trends and Progress in Addressing Climate Change". Retrieved 4 September 2021.
  31. ^ Davenport, Coral (9 November 2020). "What Will Trump's Most Profound Legacy Be? Possibly Climate Damage". The New York Times. Retrieved 4 September 2021.
  32. ^ Parker, Ashley; Davenport, Coral (26 May 2016). "Donald Trump's Energy Plan: More Fossil Fuels and Fewer Rules". The New York Times. Retrieved 4 September 2021.
  33. ^ Davenport, Coral; Lisa, Friedman (26 November 2018). "How Trump Is Ensuring That Greenhouse Gas Emissions Will Rise". Retrieved 4 September 2021.
  34. ^ Lee, Stephen; Hijazi, Jennifer; Magill, Bobby; Scott, Dean (16 March 2021). "Much-Debated Climate Metric Gets Immediate Use Under Biden". Bloomberg Law. Retrieved 4 September 2021.
  35. ^ Plumer, Brad (23 August 2018). "Trump Put a Low Cost on Carbon Emissions. Here's Why It Matters". The New York Times. Retrieved 4 September 2021.
  36. ^ Cropper, Maureen; Newell, Richard; Prest, Brian; Rennert, Kevin (8 September 2022). "The Damage From Carbon Is More Costly Than We Thought". Barron's. Retrieved 12 October 2023.
  37. ^ "Richard Newell's Stories". Axios.
  38. ^ a b c Crooks, Ed (8 September 2018). "The Week in Energy: Dirty Oil, Clean Oil". Retrieved 4 September 2021.
  39. ^ Crooks, Ed (22 January 2019). "Renewable Risk Being a Bolt-On Rather Than True Energy Substitute". The Financial Times. Retrieved 4 September 2021.
  40. ^ Jaffe, Adam B; Newell, Richard G; Stavins, Robert N (2005). "A tale of two market failures: Technology and environmental policy" (PDF). Ecological Economics. 54 (2–3). Elsevier: 164–174. Bibcode:2005EcoEc..54..164J. doi:10.1016/j.ecolecon.2004.12.027. Retrieved 12 October 2023.
  41. ^ Newell, Richard G. (3 March 2021). "Federal Climate Policy 101: Reducing Emissions". RFF.org. Resources for the Future. Retrieved 12 October 2023.
  42. ^ Gerarden, Todd D; Newell, Richard G; Stavins, Robert N (2017). "Assessing the energy-efficiency gap" (PDF). Journal of Economic Literature. 55 (4). American Economic Association: 1486–1525. doi:10.1257/jel.20161360. Retrieved 12 October 2023.
  43. ^ "RFF President Richard Newell Receives the USAEE Adelman-Frankel Award". Resources. Resources for the Future. 28 September 2018. Retrieved 4 September 2021.
  44. ^ "Publication of Enduring Quality". Association of Environmental and Resource Economists. 2019. Retrieved 4 September 2021.
  45. ^ "Honors". Association of Environmental and Resource Economists. Retrieved 2 September 2021.
  46. ^ Interagency Working Group on Social Cost of Carbon United States Government. "Social Cost of Carbon for Regulatory Impact Analysis under Executive Order 12866" (PDF). Environmental Protection Agency. Retrieved 5 September 2021.
  47. ^ "Richard G. Newell". North American Gas Forum. Retrieved 5 September 2021.
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