Highs and volatile energy prices have driven the regulation of commodity financial markets to the forefront of the U.S. and G20 policy agendas, including the upcoming 2011 G20 meeting in France. Integrated commodity markets require international policy coordination, but not all policy initiatives are equally desirable. Improving Energy Market Regulation: Domestic and International Issues examines a range of policy options at both the domestic and international levels.

Michael A. Levi and Daniel P. Ahn say, "If lawmakers decide to go ahead with further deficit reduction, they would be remiss not to take a hard look at higher oil taxes as part of the deal."

In this Energy Brief, Daniel Ahn and Michael Levi model the potential consequences of substituting taxes on oil consumption for either higher nonoil taxes or reduced government spending as part of a larger deficit reduction package, and argue that oil taxes can improve economic performance while reducing oil consumption if done right.

Prices at the pump are emerging as a significant U.S. election issue. Five experts offer a range of policy options, from lowering regulations to encouraging less consumption.