Tepper School of Business
Lester Lave video on Gasoline Prices
Lester Lave, Harry B and James H. Higgins Professor of Economics and University Professor
"Even as you start getting up to $3.00 a gallon, people don't buy a lot less gasoline. They complain a lot, but they don't buy a lot less gasoline."
Escalating U.S. gas prices over the past several months have dominated the news. Lester Lave talks about the positive aspects of gasoline prices, environmental restrictions in exploring for petroleum, constraints on refinery capacity, and his speculation for the future of gasoline prices.
View the Lester Lave videos.
- Part One (.mov) - The Benefits [4:43]
- Part Two (.mov) - Components and Drivers [3:51]
- Part Three (.mov) - The Future [10:53]
Click here to read an Op Ed piece by Lester Lave on "Why oil prices are high and why we don't care."
