Imported Energy – Global Oil Market Effects

Damari Bernia Alarcon

Co-Presenters: Individual Presentation

College: College of Business and Public Management

Major: BS.ECONOMICS

Faculty Research Mentor: Durmaz, Nazif  

Abstract:

This research examines the relationship between New Jersey's energy imports and fluctuations in global oil prices. Given New Jersey's significant dependence on imported energy, the state is particularly susceptible to events such as supply shortages, political conflicts, and changes in worldwide demand. Utilizing historical data, this study explores the connections among New Jersey’s energy import levels, international oil prices, and other factors like shifts in demand and supply disruptions.The primary objective is to identify the factors that contribute to the rises and falls in oil prices and to assess how reliance on imports influences market stability. Through regression analysis, the study investigates how these variables correlate and impact regional energy prices and economic resilience.The findings of this research aim to provide insights of how policymakers and energy stakeholders make informed decisions, improve strategic planning, and promote the diversification of energy sources. Overall, this study seeks to enhance understanding of how New Jersey’s dependence on imported energy interacts with global oil markets and affects price stability.