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In this week\u2019s episode, host Daniel Raimi talks with Ryan Kellogg, a professor at the Harris School of Public Policy and affiliated faculty at the Energy Policy Institute at the University of Chicago. Kellogg discusses why carbon pricing, long the preferred emissions-reduction tool for most economists, actually may not be as efficient as other policy options. Kellogg and Raimi explore how economic theory has led many to favor carbon pricing, and why the conventional wisdom on carbon pricing may turn out to be wrong in the real world.\n\nReferences and recommendations:\n\n\u201cCarbon Pricing, Clean Electricity Standards, and Clean Electricity Subsidies on the Path to Zero Emissions\u201d by Severin Borenstein and Ryan Kellogg; https://www.nber.org/papers/w30263\n\n\u201cSuperpower: One Man\u2019s Quest to Transform American Energy\u201d by Russell Gold; https://www.russellgold.net/superpower