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Sebastian Borenstein, a UC Berkeley professor and director of the Energy Institute at Haas, articulated a dire forecast: gas prices could rise significantly “in the dollars per gallon” range if this crisis is not managed effectively. Borenstein argues that rather than long-term planning, immediate actions are essential to stabilize the gas market and avert potential price surges.
Navigating the Energy Transition
As both Democrats and Republicans probe deeper into the ongoing crisis, the focus shifts toward finding solutions. Lawmakers are keen on understanding how to stabilize the market while ensuring that refinery closures do not further destabilize gas prices.