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Weaponizing Economics
Report

Weaponizing Economics

Big Oil, economic consultants, and climate policy delay

Benjamin Franta
Taylor & Francis Online, 2021
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Editorial Rating

9

Qualities

  • Innovative
  • Eye Opening
  • Background

Recommendation

It’s common knowledge that the fossil fuel industry has long employed scientists to bolster its anti-climate change agenda. But less well-known is how economic consultants have also influenced energy policy discussions. In this eye-opening digest of US energy policy from the 1980s through the 2010s, academic Benjamin Franta delves into the role some influential economists have played in diverting attention from the urgency of climate action. Anyone with an interest in climate economics will find valuable information in this astute work.

Take-Aways

  • Economists played a significant role in the fossil fuel industry’s efforts to oppose climate change action.
  • Industry-paid economists used biased models that questioned climate science and highlighted the costs of mitigation.
  • These economic reports contributed to America’s failure to embrace climate policies, the Kyoto Protocol and the Paris Agreement. 

About the Author

Benjamin Franta is a PhD candidate at Stanford University, where he studies the history of fossil fuel producers and climate change politics. He also has a PhD in applied physics and a JD degree.

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    U. D. 3 years ago
    This extract reveals less than it promises calling out only CRA. What about others? It seems to avoid naming economists who were opposed to Kyoto and 3rd world.
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      3 years ago
      Hello, and thank you for your comment.
      Our abstract writers summarize reports into a concise format that is true to the original work and conveys its essential information. In this two-page summary of a report that is more than 20 pages long, they had to choose to include some topics over others. The report author explores the work of CRA in some detail, and so our abstract writer and editors opted to include it in our summary, along with another economist’s direct quotation from the report. We strive to give readers a good idea of a report's essence, and we appreciate your feedback.
      Best regards,
      Gaby Deponte, Managing Editor, Economics/Finance/Politics