06/23/2026

USAEE E-NEWSLETTER | SUMMER 2026

Welcome to the latest edition of the United States Association for Energy Economics quarterly newsletter! Each quarter, we will bring you engaging articles, expert opinions, member perspectives, and updates that reflect the dynamic landscape affecting the economics of the energy industry. Your feedback is invaluable to us, so please reach out to share your thoughts, article ideas, and questions at usaee@usaee.org.

2026 USAEE North American Conference:
Register TODAY and Save!

Join Us in November in Pittsburgh

Register now for the 43rd USAEE North American Conference November 15-18, 2026 in Pittsburgh, Pennsylvania! Book early to save as much as $150: Register by July 31 for early bird savings. In addition, reservations are open at the conference host hotel, the DoubleTree by Hilton Hotel & Suites Pittsburgh Downtown at the special USAEE group rate of $159 per night. 

The theme for this year's conference is DISRUPTION: The State of Energy Markets in 2026 and Beyond. Sessions will feature vital and timely topics including crude oil supply disruptions, large load growth in electricity markets, energy affordability, natural gas and LNG, nuclear, and more. Join us in Pittsburgh and hear what leading subject matter experts have to say about these and other topics, all against the backdrop of the extraordinary energy market disruptions of 2026. More conference details, including speakers, additional program information, and special events, are also on the way.

A Message from the President

BY GREG UPTON | PRESIDENT, USAEE

It is a privilege to serve as President of the United States Association for Energy Economics (USAEE) during what has been a dynamic period for global energy markets. Over the past year, energy economists have witnessed developments that underscore both the complexity and importance of our field. Conflict involving Iran and broader regional tensions have contributed to uncertainty in global oil and natural gas markets, while at the same time projected electricity demand growth across much of the developed world has reached levels not seen in more than a decade. At the same time, policymakers, businesses, and consumers continue to grapple with the interplay between geopolitics, energy security, affordability, and efforts to decarbonize energy systems. In many ways, the story of energy in 2026 has been one of infrastructure expansion on both the “molecules” and “electrons” fronts, as societies seek to balance reliability, affordability, and environmental objectives while meeting growing energy demand.

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USAEE Virtual Case Competition:
Register by Monday, July 13

The registration deadline for the 2026 USAEE Virtual Case Competition is next Monday, July 13.

The case competition a one-of-a-kind opportunity for student teams to apply their knowledge of economics, engineering, and policy analysis. Competition participants demonstrate their skills and ideas for potential employers, contribute to solving challenges in the field of energy economics, and compete for monetary prizes. Teams of two to five students may register.

Finalist teams will be invited to attend the 43rd USAEE North American Conference in November — for which finalists' registration fees will be waived — and receive their prizes on November 17 at the annual USAEE awards lunch.

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The case competition is one of an array of offerings that reflect USAEE's ongoing commitment to student engagement. This year's conference will once again feature a robust lineup of student-focused events:

• Ph.D. Day | Sunday, November 15  Opt-in via conference registration
• Student Mentoring Breakfast | Monday, November 16  Opt-in via conference registration
• Young Professional Best Paper Award Competition Finalist Presentations | Monday, November 16
• Best Student Paper Award Competition Finalist Presentations | Monday, November 16
• Best Student Poster Award Competition and Reception | Monday, November 16
• USAEE Awards Lunch | Tuesday, November  17

In Memory of Dorothea El Mallakh

Dr. Dorothea H. El Mallakh, a beloved member of the energy economics community, has passed away. With her late husband Ragaei she founded the International Center for Energy and Economic Development in 1973 which she ran—later with her daughter Helen—for many years. She and her husband were instrumental in the education of many who became leaders in the field and advised numerous organizations and governments on energy matters. She was very active in the USAEE/IAEE for many years, serving as secretary and later Vice President for International Affairs for the IAEE, Vice President, Conferences for the USAEE and co-chair for the North American Conference in 2005. In recognition of her contributions she was made a Senior Fellow of the IAEE.

Carol A. Dahl

This is the latest article in a series featuring distinguished USAEE members reflecting on their careers and their involvement in the USAEE and IAEE community. This edition's reflection is shared by long-time member Carol A. Dahl, an Adjunct/Emerita Professor in Mineral and Energy Economics (since 2014) and a Senior Fellow at the Payne Institute for Public Policy at the Colorado School of Mines (2015-date).

I became interested in energy markets in 1973, when I was picking a topic for my Ph.D. thesis at the University of Minnesota. With the Arab Oil Embargo and price controls, lines for gasoline were snaking around the pumps and down the block. I decided that energy demand elasticities were key issues and chose to write on the demand for gasoline. As I walked to school and didn't own a car, I could be blissfully impartial about the topic. The topic turned out to be good choice. In 1975, I applied and received a fellowship from Resources for the Future to help fund my thesis and a summer internship at the hastily formed Federal Energy Administration (FEA), now the Energy Information Administration (EIA). I received my Ph.D in Economics in 1977, the same year the IAEE was formed. They held their first annual meeting in Washington D.C. in 1979. However, IAEE was not yet on my radar, as I was still struggling with "publish or perish." No time for such frivolities. I was not yet aware of the importance of not only what you know, but who you know for career advancement. However, by 1985 I had not yet perished and decided a few frivolities could be afforded.

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The Outlook for the Oil Market

BY MICHAEL C. LYNCH

This is my inaugural column for the USAEE newsletter on petroleum markets, and it will begin with some background thoughts on analyzing and forecasting the market to set the stage for readers who might be less familiar with the subject. Recent psychological research suggests that people prefer certainty when looking for opinions, which resembles President Truman’s remark that he wanted a one-handed economist because they were always saying, “On the other hand….” Unfortunately, when it comes to oil markets, there are a large number of contingent developments that are uncertain but consequential, meaning any forecaster will have many hands to consider.

Demand for opinions about the oil market is very high, especially now that prices are elevated, which has the pernicious effect of increasing the supply of opinions but moving to lower-grade ore, so to speak. There are numerous analysts in industry, academia and government whose work is detailed and rigorous, but there are also huge numbers of people ready to offer an opinion based largely on a casual reading of the media, both legacy and modern.

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Academic Focus: Todd Gerarden

I am an Associate Professor at the Charles H. Dyson School of Applied Economics and Management, part of the Cornell SC Johnson College of Business. At Cornell, I have taught classes in energy economics, environmental economics, and business analytics. Before that, I received a BS in Mechanical Engineering from the University of Virginia and a PhD in Public Policy from Harvard University. My research studies how firms, consumers, and governments together shape the energy transition: how innovation happens, how clean-energy markets develop, and where well-intentioned interventions succeed or fall short. I have presented my work to academics and practitioners from organizations including the USITC, IMF, OECD, WTO, and World Bank. I have been an active member of USAEE since 2014.

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USAEE/IAEE Working Paper Series

The USAEE/IAEE Working Paper Series gives all members a chance to increase the circulation, visibility, and impact of their research. If you have an unpublished research paper that addresses any aspect of energy economics or energy policy, we would like to feature your paper in this new series. There is no cost to you, only benefits:

• Place your work where it can be seen and used on a daily basis.
• Gain timely feedback from other researchers working on related topics.
• Create a permanent and searchable archive of your research output within the largest available Electronic Paper Collection serving the social sciences.
• Provide unlimited, hassle-free, public downloads of your work on demand.
• Raise your research profile, and that of the USAEE and IAEE, by joining with fellow members to establish a new energy research trademark that is unparalleled in terms of its breadth and depth of focus.

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USAEE Webinar

"The Renewable Fuel Standard: A Guide to America's Biofuel Mandate," a webinar presented live on June 24 by Tyler Gray, Director of Energy Innovation at the LSU Energy Institute, provides a clear, evidence-based guide to the Renewable Fuel Standard, the federal biofuel mandate that uses tradable RIN credits to shape fuel markets. The webinar unpacks EPA’s 2026–2027 reset—including record volumes, small-refinery-exemption reallocation, and the removal of eRINs—and examine what the evidence says about fuel prices, agriculture, emissions, and regional impacts.

WATCH WEBINAR

S&P Global:
Months into War, Upside Risks Loom
for European Gas Market

Content provided by S&P Global. Visit S&P Global for the latest news and research in energy and commodities.  

BY MATT HOISCH & ALY BLAKEWAY | S&P GLOBAL

Months into the Iran war, Europe has evaded the record price surges that beset the regional gas market during the last energy crisis in 2022, following Russia's full-scale invasion of Ukraine. However, with trade out of the Persian Gulf still dramatically diminished, market watchers warn the continent remains exposed to upside risks as summer approaches and, with it, the prospect of a cross-continental swell in demand.

So far, Europe has benefited from significant demand destruction elsewhere. While the war has effectively cut off about 20% of global LNG supply, EU imports have held broadly steady. Parts of Asia, on the other hand, have cut back dramatically. China, for instance, recorded a 19% year-over-year slide in March LNG imports, government data showed.

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