In 2005, researchers Bob Noland and Lewis Fulton worked with the International Energy Agency to release analysis and policy recommendations to address concerns over “peak oil” and rising oil prices. More than twenty years later, this work continues to be more relevant than ever as the world is experiencing the most severe oil supply disruption in modern history, triggered by the U.S.-Israeli war with Iran and the near-complete closure of the Strait of Hormuz.
Topic
gas prices
NJ gas prices are trending down but experts are worried
Rutgers economist James Hughes said even if President Joe Biden is able to convince Congress to freeze the 18.4 cent a gallon federal gas tax for the next few months and Gov. Phil Murphy agrees to suspend the state gas tax (an idea he has rejected so far) “that would...
Gas prices rise to record highs again
Gas peaked at $1.39 a gallon back then, which would be $4.52 today. Action News spoke to Michael Lahr, an economics professor at Rutgers University. "What may happen, not real soon though, is that companies will use these raises in prices to invest in capital to get...
Gas prices hit all-time highs across Philadelphia, tri-state area
Gas prices across the tri-state hit another record high on Monday, just ahead of the busy summer driving season. It's $4.64 a record gallon in Philadelphia, 14 cents above the statewide average. Pennsylvania, New Jersey and Delaware are also at all-time highs. It's...
New Jersey State Policy Lab: What’s Up with Gasoline Prices?
Some of this rise should have been expected. Gas taxes, the relative value of the dollar, lower than usual supply, and higher than usual demand are some of the key factors.
New Jersey State Policy Lab: An Early 2022 Inflation Update for New Jersey
Because of Russia’s invasion of Ukraine, we should expect substantially more inflation over the next year in the form of energy prices.