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Abstract

What Are the Reasons Behind the Soaring Gas Prices?

As the Northern Hemisphere has moved into winter, the current worldwide surge in energy prices has raised fears of an energy crisis with serious implications. The focus of this brief Instant Insight is twofold. First, we provide a brief overview of the current energy market. We then discuss the potential short- and long-term implications for users of natural gas, both residential and industrial. The analysis highlights that, although the world debated reducing investment in fossil fuels at COP26 in Glasgow, OPEC (Organization of the Petroleum Exporting Countries) and its partners have had to deal with calls from major energy consumers to increase production to curb the current price trend.

 

Authors

Raed Mestneer

Research Associate Raed is a research associate in the Markets and Industrial Development program, with a particular interest in industrial development, economic diversification,… Raed is a research associate in the Markets and Industrial Development program, with a particular interest in industrial development, economic diversification, and econometric modeling.  He has worked with different types of econometric modeling techniques on different projects, especially in the field of economic diversification and oil prices. Prior to joining KAPSARC, Raed worked for Standard & Poor's analytics division, where he was involved in designing the first probability of default model tailored to the Saudi economy. Raed is the author of the 2012 book, Does the U.S. Dollar Have an Effect on the Price of Oil? He earned his Ph.D. in Economics from Southern Illinois University and was awarded a Master of Science in Economics from California State Polytechnic University. The title of his dissertation was "Economic Diversification: The Case of Saudi Arabia with Reference to Rich Natural Resource Countries.”

Expertise

  • Economic Development
  • Economic Diversification
  • Macroeconomic Analysis and Oil Markets.

Publications See all Raed Mestneer’s publications

Fateh Belaïd

Research Fellow Fateh was a full Professor of Economics at Lille Catholic University, and Director of the Smart and Sustainable Cities research… Fateh was a full Professor of Economics at Lille Catholic University, and Director of the Smart and Sustainable Cities research unit, with appointments at École des Ponts and Chaussées ParisTech, and Ecole Nationale des Sciences Géographiques. Fateh has also held various positions at the French Centre Scientific and Technical Center for Building and led multiple collaborative projects for the French Ministry of Ecological Transition and the European Commission. He received a Habilitation for Supervising Doctoral Research from Orléans University, a Ph.D. in Economics, an M.S. degree in Applied Economics and Decision Theory from Littoral University, and an engineering degree in statistics. He is an energy and environmental economist drawing from the fields of applied microeconomics, energy modeling, and econometrics. Credited with 50+ papers, he has published widely on household energy consumption, energy-saving behaviors, individual preference and investment in energy efficiency, fuel poverty, renewable energy and energy policy.

Expertise

  • Energy and Environmental Economics; Energy Efficiency; Energy Demand; Fuel Poverty; Energy Policy; Energy Saving Behaviors; Applied Econometrics; Smart and Sustainable Cities

Publications See all Fateh Belaïd’s publications

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