NRPLUS MEMBER ARTICLE T he U.S. sits on $5 trillion of wealth in the form of fossil-fuel reserves. But President-elect Biden promises to “transition” these deposits out of the U.S. economy. This agenda would, by design, decrease the economic value of fossil-fuel deposits. But how much of this $5 trillion portfolio, exactly, would be wiped out by the implementation of a Biden energy agenda?
Some former colleagues of mine from the White House Council of Economic Advisers have a partial answer. They modeled the impact of Biden’s plan for 80 percent of American electricity generation to come from sources that do not emit carbon by …