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Americans and oil

Dick Taffe — Thu, 24 Jun 2010 21:00:58 +0000

A new poll reports reports that Americans are “deeply concerned” about energy but “unwilling to pay higher gasoline prices to help develop new fuel sources.” Professor Cutler Cleveland, director of the Center for Energy and Environmental Studies, says this attitude defies our experience since 1970 as we’ve gone to war over oil, experienced major oil spills, suffered recessions triggered by oil price hikes, and watched the global political landscape be reshaped by energy issues. From his blog, The Energy Watch, he poses and asks a question — then offers a conclusion:

“How have American habits changed in light of these events? Here is what has happened from 1970 to 2007 in regards to our most oil-intensive activity: Percentage of people who commute alone in car, 25% increase; Number of miles driven per car, 23% increase; Percentage of households with three or more cars, 65% increase; Miles driven per household, 50% increase; Average size of household, 17% decrease.

“BP and government regulators must be held accountable for the Deepwater Horizon disaster. But make no mistake about it: the ultimate driving force behind our predicament is the American appetite for oil and our apparent unwillingness to change our behavior in the face of enormous human and environmental costs.”

Contact Cutler Cleveland, 617-353-3083, cutler@bu.edu

Eying summer gas prices

Dick Taffe — Fri, 12 Jun 2009 16:17:36 +0000

Analysts now think gas prices will peak this summer between $2.45 and $2.65 per gallon at the pump, leveling out not so much because of normal supply-and-demand factors but because of the recession and joblessness. Energy risk-management expert Mark T. Williams, who teaches finance in the School of Management, can comment.

Contact Mark T. Williams, 617-358-2789, williams@bu.edu

Gas prices impact economic recovery

Dick Taffe — Tue, 09 Jun 2009 15:02:12 +0000

Analysts are puzzling over why worwldwide demand for oil is down from last year, yet gas prices are spiking upward at a rate faster than the seasonal norm and now threaten the tepid economic recovery. Mark T. Williams, an energy risk-management expert who teaches finance in the School of Management, can discuss the big picture of energy supply and demand and where it may be headed.

Contact Mark Williams, 617-358-2789, williams@bu.edu