The cost of oil is currently hovering around $120 per barrel. Prices at the gas pump are rapidly approaching $4 per gallon. Across the country, Americans are certainly feeling the pinch.
The politics of energy and the environment cannot be underestimated or overlooked. Many Americans lack a full understanding of the oil industry, including the impact of global energy demand on the price that consumers are paying at the pump. Additionally, in order to better assess our current situation and plan for the future, we need a better understanding of how gas prices work, the options for use of earnings, refinery expansions, the environment and energy security.
Recently, John C. Felmy, Ph.D., Chief Economist with the American Petroleum Institute, joined CFIF Corporate Counsel & Senior Vice President Renee Giachino to discuss these issues and more.
What follows is the interview originally recorded at the CPAC Conference in Washington, D.C. and heard on "Your Turn -- Meeting Nonsense With Commonsense" on WEBY 1330 AM, Northwest Florida's talk radio…[Listen to the interview here.]