Apr 04, 2022
Podcasts In The Classroom

Podcasts in the Classroom - Current Events Edition: The Sting of Higher Gas Prices Felt by Many

Are your students talking about high gas prices? This series is designed to bring a variety of shorter, readily available podcasts to introduce the topic from recent headlines and inspire discussion.

Gas prices hit record highs in March -- breaking previous records from 2008. This increase in gas prices is taking a toll on household budgets as well as various sectors of the economy that heavily rely on energy. 

Here are some 2-4 minute Marketplace podcasts discussing these headlines.

  • 3/28 Marketplace Inflation fuels drive to suspend state gasoline taxes
  • 3/23 Marketplace High gasoline prices take toll on gig economy drivers
  • 3/15 Marketplace High gas prices haven’t prompted a spike in EV sales. Besides, there’s still an EV shortage
  • 3/15 Marketplace Why you should pay attention to diesel prices

Here are some relevant Marketplace Minute podcasts.

  • 4/1 Morning Briefing Other nations contemplate joining the US in releasing strategic oil reserves.
  • 3/31 Midday High February PCE reflects higher energy prices.
  • 3/31 Morning Briefing US to release more strategic oil reserves, sending gas prices down from high
  • 3/28 Midday UAE backs continuing its oil alliance with Russia
  • 3/28 Morning Briefing Penalties set to double on car manufacturers for missing fuel efficiency targets.
  • 3/24 Midday US and its allies consider releasing strategic oil reserves to stabilize soaring oil prices.
  • 3/22 Midday Chevron refinery workers go on strike in California, but Chevron keeps refinery running to keep gas prices from going any higher.
  • 3/21 Morning Oil prices rise again as European countries now discuss oil embargo.

Assignment:

Determine how much time you want to devote to this activity, and select podcasts to provide students with background information. 

Have students then tackle these discussion questions. This can be done individually, in groups, or as a class. 

  1. How are different sectors of the economy impacted by higher gas prices?
    1. Who is impacted most by the gasoline price increase?
    2. Who is impacted most by the increase in diesel prices?
  2. How do you think consumer behavior will change as a result of higher gas prices?
    1. Given the price per gallon, do you think temporarily removing or rebating the gasoline tax will have much of an impact?
    2. Do you think the demand for EV’s may increase after this experience?
    3. Has your family changed your behavior at all as a result of the increased price of gasoline?  How?
  3. Do you think industry will respond by moving faster to use alternative fuels, or speed up development/supply of alternative fuel vehicles and equipment?

About the Authors

Ren Makino

Ren has been working part-time at NGPF since 2014, interning through high school and college. With his knowledge growing alongside NGPF, after graduating from college in 2020, he joined the team to work full time with a focus on teacher onboarding. He is also the editor of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world and try out new brewing methods.

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

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