The Institute for Energy Research (IER) is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. IER maintains that freely-functioning energy markets provide the most efficient and effective solutions to today’s global energy and environmental challenges and, as such, are critical to the well-being of individuals and society.
Founded in 1989 from a predecessor organization, IER is a public foundation under Section 501(c)(3) of the Internal Revenue Code and is funded entirely by tax deductible contributions from individuals, foundations and corporations. No financial support is sought for or accepted from government sources.
IER has earned a solid reputation for its scholarly approach to energy analysis and free-market energy and environmental policy. IER’s perspective is based on the following tenets:
Free markets: History shows that private property rights, market exchange, and the rule of law have resulted in affordable energy, improved living standards and a cleaner environment.
Objective science: Public policy, particularly in the environmental area, should be based on objective science, not emotion or improbable scenarios that invite wealth-reducing government activism, which often impairs society’s resilience to change.
Public policy tradeoffs: Policies that attempt to correct “market failure” in energy markets must be tempered with the reality of “government failure.” It is inappropriate to compare idealized government actions with real-world market outcomes. Government policies are implemented by politicians and bureaucracies, not by unbiased and informed academics.
Efficient outcomes: The welfare of energy consumers, energy producers, and taxpayers can and should be considered together.
Impartial and unbiased: Government policies should be predictable, simple, and technology neutral. This approach will spur capital formation in the energy industry and promote technological innovation.