Research Analyst
Michael Gaffney is a Research Analyst with Rhodium Group’s Energy & Climate practice.
Energy & ClimateMichael joined Rhodium from the UC San Diego School of Global Policy and Strategy (GPS), where he earned a Master of Public Policy. At GPS, he specialized in energy and environmental policy and conducted research on electric vehicle charging behavior and policy in California. Prior to graduate school, he worked as a Senior Associate at TDC, a Boston-based nonprofit management consulting firm. Michael holds a Bachelor’s degree in Political Economy from UC Berkeley.
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The House Ways and Means Committee's proposed language will raise energy costs for American households by as much as 7% in 2035, stifle energy technology innovation, increase pollution, and could put significant investment at risk.
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We estimate how much energy costs could rise for households and industry if Congress chooses to roll back and repeal key pollution regulations and energy tax credits.
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One key driver of sustained industrial emissions is the growth of emissions associated with petrochemical manufacturing in the US, which we estimate could rise by 6-32% by 2030 over today's levels.
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Since peaking in 2004, US emissions have trended downward in a bumpy fashion. But after a significant decline in 2023, we estimate that 2024 emissions were down by just 0.2% year-on-year while the economy grew by 2.7%.
