Brian C. Prest
Fellow; Director, Social Cost of Carbon Initiative
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
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Working Paper — Dec 9, 2024
Accounting for Biodiversity Loss Raises the Social Cost of CO2
In this working paper, the authors examine how climate change contributes to biodiversity loss and incorporate its nonuse value into the Social Cost of Carbon, emphasizing its role in guiding more comprehensive climate policies.
Media Highlight — Dec 3, 2024
What a Day: “Chill, Baby, Chill”
The What a Day newsletter quotes RFF Fellow Brian Prest about the Trump administration’s expected oil-and-gas policies.
Resources Magazine — Oct 7, 2024
Putting Resources for the Future on the Map
The “souvenirs” that RFF researchers bring back from their global travels—new perspectives, knowledge, stories, and photos—show a world of Resources that are out there and worth sharing.
Report — Sep 24, 2024
Challenges and Opportunities for Incorporating Climate Change’s Impacts on Ocean Systems into the Social Cost of Greenhouse Gases
Challenges and Opportunities for Incorporating Climate Change’s Impacts on Ocean Systems into the Social Cost of Greenhouse Gases
Working Paper — Dec 9, 2024
Accounting for Biodiversity Loss Raises the Social Cost of CO2
In this working paper, the authors examine how climate change contributes to biodiversity loss and incorporate its nonuse value into the Social Cost of Carbon, emphasizing its role in guiding more comprehensive climate policies.
Report — Sep 24, 2024
Challenges and Opportunities for Incorporating Climate Change’s Impacts on Ocean Systems into the Social Cost of Greenhouse Gases
Challenges and Opportunities for Incorporating Climate Change’s Impacts on Ocean Systems into the Social Cost of Greenhouse Gases
Issue Brief — Sep 3, 2024
How Much Would Expanding Federal Oil and Gas Leasing Increase Global Carbon Emissions?
This issue brief models the impacts of expanding oil and gas production on US federal lands.
Journal Article — Aug 15, 2024
Equity Weighting Increases the Social Cost of Carbon
This article finds that using an “income weighting” approach would increase the social cost of carbon by a factor of eight by placing greater emphasis on climate’s impacts on the global poor.
Resources Magazine — Oct 7, 2024
Putting Resources for the Future on the Map
The “souvenirs” that RFF researchers bring back from their global travels—new perspectives, knowledge, stories, and photos—show a world of Resources that are out there and worth sharing.
Common Resources — Apr 17, 2024
After the Pause: Understanding the Economic, Environmental, and Geopolitical Implications of Increased US Liquefied Natural Gas Exports
As the Biden administration temporarily pauses approvals for building new export facilities that transport liquefied natural gas, we’ve assembled a primer on the national and global implications of the US increasing exports of this important fuel.
Common Resources — Mar 21, 2024
Feedbacks between Emissions Markets and Political Outcomes: A Case Study of Washington State’s Cap-and-Trade Program
A simple model described here shows feedbacks between emissions markets and policy change: in an upcoming referendum to repeal a cap-and-trade program in Washington, the price of emissions allowances can affect and be affected by potential voter behavior.
Common Resources — Feb 6, 2024
Accurately Quantifying “Super-Emitting” Leaks Is Key for the Methane Fee to Be Effective
As the US Environmental Protection Agency begins enforcing methane fees on the oil and gas industry, an important question begs answering: How can regulators best calculate the true extent of methane leaks?
Media Highlight — Dec 3, 2024
What a Day: “Chill, Baby, Chill”
The What a Day newsletter quotes RFF Fellow Brian Prest about the Trump administration’s expected oil-and-gas policies.
Media Highlight — Jul 18, 2024
New York Times: “Fact-Checking Day 3 of the Republican National Convention”
RFF Fellow Brian Prest's work is used to support fact-checking during the 2024 Republication National Convention.
Media Highlight — Apr 2, 2024
Axios: “One Useful Thing: Comparing Possible Futures”
The Axios Generate newsletter features this year’s Global Energy Outlook report from RFF.
Media Highlight — Mar 18, 2024
Marketplace: “New Fees and New Tech May Curb Methane Emissions”
RFF Fellow Brian Prest gives some background on methane leakage in a story about how the United States can work to reduce methane emissions.