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PERI economist Gregor Semieniuk testified before the U.S. Senate Committee on the Budget during a hearing on “The Cost of Oil Dependence in a Low-Carbon World.” In his testimony he discussed his 2022 research that found that current oil and gas assets may be overvalued by more than $1 trillion, a figure that exceeds the subprime housing mispricing that triggered the 2007 financial crisis.

>> Read "Stranded Fossil-Fuel Assets Translate to Major Losses for Investors in Advanced Economies"
Gregor Semieniuk, Philip B. Holden, Jean-Francois Mercure, Pablo Salas, Hector Pollitt, Katharine Jobson, Pim Vercoulen, Unnada Chewpreecha, Neil Edwards, Jorge Vinuales