“My basic thesis is that not enough has been done to quantify the effects of environmental policy,” said Ted Kury, director of energy studies at the University of Florida, at the Energy Risk USA conference held in Houston this month. “There’s been a trade-off between global emissions and what the carbon price is, and I don’t think enough is known about the nature of that relationship. A lot of the modelling I have seen assumes a very linear relationship, where if prices go down, then emissions