UNIVERSITY PARK, Pa. — Prices for oil and natural gas, which had been at very low levels during the pandemic, have been rising rapidly as economies emerge from COVID-19 and energy demands rise. The natural gas price is triple the levels of just six months ago, and oil prices are once again creeping towards the $100-per-barrel mark. These rising energy prices are driving inflation in the U.S. and threaten to make the winter heating season difficult for people and businesses. At the same time, high oil and gas prices also create opportunities for renewable energy to compete by providing lower-priced alternatives.
A panel of energy experts from Penn State and industry will discuss the reasons behind rising oil and gas prices; what it means for heating bills this winter; potential policy responses to keep energy prices in check; and how rising prices might encourage or thwart a transition to alternative sources of energy. The discussion, which is free and open to the public, will be broadcast at 1 p.m. on Monday, Nov. 29, via Zoom. Registration for the Zoom webinar.
The virtual panel discussion is sponsored by Penn State’s Center for Energy Law and Policy and by the John and Willie Leone Family Department of Energy and Mineral Engineering (EME).
The event will be moderated by Seth Blumsack, professor of energy policy and economics in EME. He also is a professor of international affairs in Penn State’s School of International Affairs and is the director of the Center for Energy Law and Policy.
Panelists include:
- Dean Foreman, chief economist, American Petroleum Institute
- Andrew Kleit, professor of energy and environmental economics, EME
- Hannah Wiseman, professor of law, Penn State Law and EME