"Is it as gross as it sounds?" Why oil companies continue to profit while consumers feel the squeeze
Gas prices are insane. Yes, the Russian invasion of Ukraine is a factor, but according to oil industry expert Scott Jackson, other forces are at work, too.
The Week in Philly from KYW Newsradio
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Show Notes
Will it ever end? In a matter of days - sometimes hours, it feels like - gas prices jump. Then they go up again, and again, and again… How long will this surge at the pump last? Buckle in, says Dr. Scott Jackson, a former senior research fellow at DuPont who has spent most of his career in chemical engineering and the oil industry. Despite envisioning a future where gas prices eventually start to taper off, he doesn’t expect to see costs go back to where they were before Russia invaded Ukraine. Jackson, a visiting professor at Villanova University, examines how the war, along with several other key factors, have combined to put the squeeze on consumers, who now might be more ready than ever to embrace electric automobiles.
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