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Experts explain how the world controls US gas, oil prices

Mark Finley, Fellow in Energy and Global Oil, Baker Institute for Public Policy at Rice University (KPRC)

The US president has little impact on US gas prices

Politicians of any party love to blame the current president for any unpleasant increase in how much we pay for gas.

Not true, according to Mark Finley, a fellow in energy and global oil at Rice University’s Baker Institute for Public Policy. He’s a guest on this week’s Houston Newsmakers with Khambrel Marshall and says global actors play a primary role.

“During the pandemic, OPEC and the group of co-operative countries, as well as Russia, engaged in the largest voluntary national production cuts the world has ever seen,” he said. “And they’ve been very careful to slowly bring that oil back into the market.”

Finley says this is just one example of how outside influences can affect our gas prices. He talks about what internal US policies can make a difference and says the pain we all feel is not equal.

“By itself, gasoline prices accounted for 20% of all consumer price inflation in the US last year, and we have to ask ourselves, where does that burden fall? The data shows that it falls heavily on low-income households,” he added.

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Watch Finley’s interview Sunday at 10 a.m. on the Houston Newsmakers

You can also watch how Finley breaks down the impact world politics has on US gas prices this week Houston Newsmakers Extra. Click here to view.

President Donald J. Trump, the 45th President of the United States (KPRC)

How will history view the 45th President of the United States?

Nancy Beck Young, Ph.D., is Chair of the Department of History at the University of Houston. He is watching the January 6 attack on the Capitol trial.

She says what she sees is troubling.

“With all due respect to American citizens who support the former president, if the Justice Department does not act to investigate and ultimately bring charges against Trump administration election officials for this episode, we will truly lose our democracy,” he said. “We won’t know for sure what did or didn’t happen until this matter is tested in court.”

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Dr. But historians are already writing the story of the coup attempt, says Young.

“They didn’t want to leave the White House even though they were defeated and they knew they were defeated and, to say the least, highly erratic and illegal, so history will record that,” he said. “And I think historians already know that.”

This is the interview Trump supporters don’t want to see. For the record, Houston newsmakers welcome an alternative perspective.

Houston Newsmakers with Khambrel Marshall every Sunday at 10 a.m. After Meet the Press.

  • · Mark Finley, Fellow in Oil and Energy, Baker Institute for Public Policy, Rice University

  • · Nancy Beck Young, Ph.D., Chair, UH Department of History

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