Thomas Covert is the Scientific Director at the University of Chicago Energy and Environment Lab and a Research Affiliate of the Energy Policy Institute at Chicago. He has sectoral expertise in the oil and gas industry, and extensive experience researching firm behavior in the industry. He studies how oil and gas companies make investment decisions, and how regulatory policies and market institutions affect the quality of those decisions. He has leveraged state-level administrative data on oil & gas operations to study engineering improvements in hydraulic fracturing, tradeoffs between pipeline and rail transportation of crude oil, and the efficiency of the mineral lease market. Covert holds a PhD in Business Economics from Harvard University.

 

Areas of Focus: Energy Markets
Definition
Energy Markets
Well-functioning markets are essential for providing access to reliable, affordable energy. EPIC research is uncovering the policies, prices and information needed to help energy markets work efficiently.
Fossil Fuels
Definition
Fossil Fuels
Under current policies, fossil fuels will play an important role in the energy system for the foreseeable future. EPIC research is exploring the costs and benefits of these fuels as...
Hydraulic Fracturing
Definition
Hydraulic Fracturing
Hydraulic fracturing is perhaps the most important innovation in the energy system in the last half century, but nearby communities are concerned about its potential effects on water quality, public...
Ensuring Americans Receive Fair Value for U.S. Oil and Gas Resources
Definition
Ensuring Americans Receive Fair Value for U.S. Oil and Gas Resources
Federal mineral leasing could deliver higher returns for taxpayers and better protect the environment if policymakers increased royalty rates and minimum bids, eliminated deductions, shortened primary terms, and strengthen bonding...