Global Markets and Governance
Primary Research Goals:
Leaders: Mark Thurber Frank Wolak
- Energy security
- Climate and Environmental policy
- LNG global markets
- Gas for seasonal swing
Faculty & Researchers





Students
- Kyeyoung Shin (masters student in International Policy Studies): researched public opinion about coal vs. gas (and other energy sources) around the world. Graduated.
- Chris Bruegge (Ph.D. student in Economics): developed and enhanced equilibrium model of global natural gas and coal markets. Graduated.
- Christoph Graf (postdoctoral scholar at PESD, former): study market power mitigation mechanisms in US electricity markets characterized by high shares of both renewable and gas- fired power.
- Brant Walker (predoctoral scholar at PESD, former): help with development of coal+gas spatial equilibrium model.
- Fletcher Passow (Ph.D. student in Civil and Environmental Engineering): perform game-based research on how forward contracting for long-term resource adequacy can provide a stable revenue stream for flexible supply like gas-fired power under high renewables scenarios.
- Trevor Davis (research scholar at PESD): develop coal vs. gas and gas + renewables scenarios in PESD’s Energy Market Game.
Research Groups
Benson Lab - A research group in the department of Energy Resources Engineering. We investigate fundamental characteristics of carbon dioxide storage in geologic formations as well as low-carbon energy system modeling and optimization as means of climate change mitigation.
SEEPAC - Established in 2011 to develop practical and economically viable solutions to the pressing energy and environmental problems facing 21st Century societies. SEEPAC undertakes and disseminates research that can help decision-makers shape environmental and energy policy. Beyond discovering innovative solutions to problems, SEEPAC aims to influence policy decisions through close interaction with state, federal and global decision makers.
PESD - An international, interdisciplinary program that draws on the fields of economics, political science, law, and management to investigate how real energy markets work. This means understanding not only what is technologically possible and economically efficient but also how actual political and regulatory processes lead to outcomes that are more costly and less effective than they could be.
Steyer-Taylor Center for Energy Policy & Finance - Explores and advances public policies and financial mechanisms leading to an energy future that protects the environment in an economically sensible way. Specifically, the center aims to: Design and execute a suite of research projects demonstrating how to enable an environmentally and economically secure energy future; Advance knowledge and discourse by publishing the results of this research in high-impact articles in both academic and popular media; Expand and support the unique intellectual and entrepreneurial talents of Stanford faculty and students committed to energy policy and finance; Provide critical expertise to policymakers, financiers, investors and consumers on energy policy and finance proposals.
Related Publications
- Thurber, Mark. “Policy Memo: Better Battery Strategy in Emerging Markets”. Energy for Growth Hub, January 18, 2024. https://energyforgrowth.org/article/better-battery-strategy-in-emerging-markets-or-why-you-shouldnt-put-all-your-eggs-in-one-bess-kit/.
- Thurber, M. “LNG Exports and Domestic Gas Use Are Not Zero-Sum”. Energy for Growth Hubs, May 22, 2023. https://energyforgrowth.org/wp-content/uploads/2023/06/LNG-exports-and-domestic-gas-use-are-not-zero-sum-3.pdf.
- Kincer, J., K. Auth, and M. Thurber. “Untangling ‘stranded assets’ and ‘carbon Lock-in”. https://energyforgrowth.org/article/untangling-stranded-assets-and-carbon-lock-in/.
- Thurber, M, and O Verheijen. “Memo: Should Lower-Income Countries Build Open Cycle or Combined Cycle Gas Turbines?”. Energy For Frouth Hub, March 2, 2022. https://www.energyforgrowth.org/memo/should-lower-income-countries-build-open-cycle-or-combined-cycle-gas-turbines/.
- Barasa, A, and M Thurber. “Memo: Energy-Poor Countries Face a Special Challenge: Vertical Energy Transitions”. Energy for Growth Hub, February 7, 2022. https://energyforgrowth.org/article/energy-poor-countries-face-a-special-challenge-vertical-energy-transitions/.
- Brandt, Adam, Holger Teichgraeber, Charles Kang, Charles Barnhart, Michael Carbajales-Dale, and Sgouris Sgouridis. “Blow Wind Blow: Capital Deployment in Variable Energy Systems”, Pergamon, 224 (June 2021): 120198.
- Thurber, M. “Five Lessons for the Future of Natural Gas in Sub-Saharan Africa”. Stanford Natural Gas Brief, May 2021. https://ngi.stanford.edu/sites/ngi/files/media/file/ngi_brief_2021-05.pdf.
- Sleep, Sylvia, Zainab Dadashi, Yuanlei Chen, Adam Brandt, Heather MacLean, and Joule Bergerson. “Improving Robustness of LCA Results through Stakeholder Engagement: A Case Study of Emerging Oil Sands Technologies”, Elsevier, 281 (January 2021): 125277.
- Al, Long Et. “Optimal Design of the Power Generation Network in California: Moving towards 100% Renewable Electricity by 2045”, World Academy of Science.
- Wolak, Christoph Graf Federico Quagliay Frank. “SimpliEdElectricityMarketModelsWithSignicantIntermittentRenewableCapacity:EvidencefromItaly”.
- X., Goulder Hafstead Kim Long. “Impacts of a Carbon Tax across US Household Income Groups: What Are the Equity-Efficiency Trade-Offs?”.
- Wolak, Frank. “Wholesale Market Design”.
- M., De Chalendar Benson. “Why 100% Renewable Energy Is Not Enough”.
- M., De Chalendar Glynn Benson. “City-Scale Decarbonization Experiments With Integrated Energy System”.
- Von Walda Austin J.Stanion Deepak Rajagopal Adam R.Brandt, Gregory. “Biomethane Addition to California Transmission Pipelines: Regional Simulation of the Impact of Regulations”.
- Wolak, Frank. “Tax Brown Energy or Subsidize Green? The Choice Is Easy”.
- Wolak, Frank. “A Carbon Tax to Fund Increased Border Security?”.
- J., Koomey Schmidt Hummel Weyant. “Inside the Black Box: Understanding Key Drivers of Global Emission Scenarios”.
- Thurber, Mark. Coal.
Global Markets and Governance Annual Report
Stanford Natural Gas Initiative seed funded projects require annual submissions of brief technical progress reports and interim report summaries for active projects. Closed projects require a technical report and final report summary one year after the award close date.
Read the most recent interim report (Coming soon)