Tom Drennen, assistant professor of economics, was quoted in the Jan. 6 Florida Today, from Melbourne, Fla. In the article titled “Prepare to pay more at the pump”, Drennen said the rule of thumb on oil prices is that when the price of a 42-gallon barrel of oil rises $1, gasoline pump prices go up 21/2 cents a gallon. He also warned that the higher gas prices would remain high for a while after the price of oil decreases. “We say it's sticky coming down,” Drennen said. “Even when oil prices plummet, there's no reason for the retailers to start marking prices down quickly.”
Drennen was the featured expert in the Jan. 7 Hazleton, Pa. Standard-Speaker article “Fuel prices not likely to fall”.
Drennen is the author of more than 20 publications that were produced in collaboration with various colleagues including “Who Will Fuel China?,” “The Kyoto Protocol and International Trade: the Carbon Loophole,” “Solar Power and Climate Change Policy in Developing Countries,” and “Agricultural Dimensions of Global Climate Change.”