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Here in the U.S., the Fourth of July is known as a driving holiday – this year, more than 60 million Americans are expected to take to the roads over the long weekend. That means millions are watching gasoline prices closely. But what actually makes those prices shift, especially when the headlines are filled with conflict and uncertainty? It’s a question that matters as much to policymakers in Brussels and investors in Lagos as it does to Americans eyeing prices at the pump.
To understand these swings, it helps to zoom out. Skip York, an energy expert at Rice University, explains how global crises – from wars to pandemics and political threats – disrupt global energy markets in ways that affect us all. With stories drawn from decades of experience in the energy sector, York breaks down how supply chains, shipping routes, speculation and even rumors can send prices soaring or crashing.
Whether you’re fueling up for a weekend getaway, tracking market trends at work or budgeting for heating bills, understanding the global forces behind energy prices has never been more important.
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Tracy Walsh
Economy + Business Editor
The Conversation U.S.
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Skip York, Rice University
Fears about supply, demand, profits and supply chains all combine into a volatile mix that delivers prices that are often higher in a crisis, but also change more rapidly and by larger amounts.
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Taxes
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Gibbs Knotts, Coastal Carolina University; Drew Kurlowski, Coastal Carolina University
The founder of Americans for Tax Reform emerged in the 1980s as the fiscal conscience of American conservatism and continues to wield influence.
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Shopping
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Nic Sanders, University of Westminster
Many customers see free returns as a key part of the online shopping experience.
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Transportation
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Salman Ahmad, University of the West of Scotland
Worries about investment and cost are stalling progress.
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Branding
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Paul Harrison, Deakin University
Brands don’t always deliver what they promise. Regulation needs to focus on preventing harm rather than managing fallout.
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Industrial strategy
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Michael A. Lewis, University of Bath; Bernard Hay, Newcastle University; Doug Specht, University of Westminster; Kamran Mahroof, University of Bradford; Sarah Hall, University of Cambridge
The government hopes that by focusing on sectors that drive growth it will attract investment and boost prosperity.
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Trade
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William Akoto, American University
Supply-chain decoupling doesn’t stop rival nations from hacking each other and can make it worse. A cyber-espionage expert explains what does work.
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Work
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Sandra Sjoberg, Western Governors University School of Business
My experience in the corporate world showed me how much the human element matters. I went into academia to translate theory into practice.
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