For more information, contact Richard Doty, (937) 775-3232. 
August 16, 2005 Soaring gas prices reflect energy intensive lifestyle, says Wright State University economist With gasoline prices soaring to record highs, Americans are paying the price for an energy intensive lifestyle, according to Robert Premus, Ph.D., a professor of economics at the Raj Soin College of Business at Wright State University.Premus, whose expertise on energy and the economy includes gas prices, said Dayton residents—and all Americans—are faced with dealing with a short-term problem they helped create. “We are locked into a lifestyle of lengthy commute patterns, purchasing large homes with high ceilings that are expensive to cool and heat and driving big cars that get low gas mileage,” he said. “We have locked ourselves into this lifestyle of high energy consumption.” Premus, with 30 years of teaching and research experience in monetary economics, said the high prices for gasoline does not involve a lack of supply but an increasing worldwide demand. “We are seeing huge increases in the worldwide economy, especially from China and strong Asian markets, as everyone is trying to lock in long-term supplies. These expectations for rising demand bring the accelerated growth that causes the problem of escalating gasoline prices.” 
Communications & Marketing
Open Monday - Friday 8:30 a.m. - 5 p.m. 106 Allyn Hall Wright State University 3640 Colonel Glenn Hwy. Dayton, OH 45435-0001 (937) 775-3232 Fax: (937) 775-3235 Com_Marketing@wright.edu |
