Notes

Slide Show

Outline

1	History and Outlook for Gasoline Prices Energy Policy Forum to Discuss “Possible Solutions to High Gas Prices” Moderated by Congressman Jim Gerlach
2	Pennsylvania Gasoline Prices Closely Follow the U.S. Average
3	Long-term Gasoline Price Trend Turned Upward in 1999
4	Crude Oil is Largest Contributor to Gasoline Price Increase Since Last Year
5	How High Will Crude Oil Prices Rise Before Demand Growth Slows Substantially?
6	World Oil Demand Growth Has Accelerated
7	OPEC Spare Capacity Is Extremely Tight Right Now
8	Global Inventories Are in Normal Range, But Forward Cover is Low
9	OECD Inventories and Spare Production Capacity Explain Most of Recent Price Variation
10	Crude Oil and Product Markets Move Together
11	Gasoline Supply/Demand Balance Reflected in Spreads
12	U.S. Gasoline Inventories Are High, But Demand Growth Puts Forward Cover Relatively Lower
13	Refining Capacity Surplus Disappearing, Creating Short-Term Challenge
14	Retail Gasoline Price Changes Lag Spot Prices
15	Retail Gasoline Price Changes Can Be Predicted From Spot Prices
16	Retail Gasoline Prices Are Still Much Lower Than Early 1980s When Adjusted for Inflation
17	Crude Oil and Gasoline Prices Are Expected to Remain High for the Foreseeable Future