Frank A. Wolak is the Holbrook Working Professor of Commodity Price Studies in the Department of Economics and the Director of the Program on Energy and Sustainable Development at Stanford University. His research and teaching focuses on design, performance, and monitoring of energy and environmental markets in the United States and globally. From April 1998 to April 2011, he was Chair of the Market Surveillance Committee (MSC) of the California Independent System Operator, an independent market monitoring committee for California electricity supply industry. Wolak was also a member of the Emissions Market Advisory Committee (EMAC) for California’s Market for Greenhouse Gas Emissions allowances from January 2012 to December 2014. This committee advised the California Air Resources Board on the design and monitoring of the state’s cap-and-trade market for Greenhouse Gas Emissions allowances.