When the gas price is low than that means that we have a surplus amount of crude oil and for us to be able to sell all
When the gas price is low than that means that we have a surplus amount of crude oil and for us to be able to sell all
Over the past few weeks we have discussed many different issues within the United States and across the nation. Many things that we use are items that we mostly need on a day-to-day basis. The price of gasoline is a demand that we need and with the price of gas continuing to climb, most Americans can just barely afford it. I will be discussing how OPEC sees the decline in oil.…
The price of gasoline is definitely driven by the concept of supply and demand. When prices fall, quantity demand will rise, when price rises, quantity demanded will fall. This statement is true in most cases. But gasoline is a necessity to most Americans. The demand for fuel does not decrease when the price increase. Consumers often influence the price of gasoline. Gas prices in the late spring and summer months are the highest during the entire year. These are the periods when consumers drive the most. This is the time when most construction and manufacturing jobs are in operation. Like now, in the winter, gas prices are at the lowest point in a six month period. The six-month gasoline price chart I viewed at chicagogasprices.com indicates this notion. The average price of gasoline in the Chicago area is between $3.25 - $3.70. In the summertime, we were paying gasoline prices of around $3.80 - $4.50. Consumers are deciding to drive less for recreation and more of going straight from point A to point B. The supply of gasoline has increased during the winter months, and producers capitalize on that surplus with the increased driving by consumers in the upcoming spring and summer months, while increasing the price of gasoline substantially. But in the news, you continue to hear of crude oil shortages. Big Oil Companies reported huge profits on high gasoline prices continuously for the past 4 (Froomkin, 2011). The Big Five oil companies made $36 billion in profits in the second quarter of 2011 (Froomkin, 2011). Consumers are now looking for alternative solutions in transportation because of the unsavory price fluctuation of gasoline prices while oil companies post major profits.…
Gasoline pricing is a constant irritate for many of us who are not happy about the high cost of fuel and why it remains high. We can use empirical results that can provide evidence to this very contention of high fuel expense if we research the following: Asplund et al. (2000), Bacon (1991), Borenstien et al. (1997), and Peltzman (2000). These explanations can provide some prime evil example of why the costs are constantly affected in our everyday life. When crude oil is produced it provides the cost per barrel depending on how many barrels it’s producing, therefore if the price is $ 80 dollars per gallon it may in fact cost the consumer the same amount by the cost of fuel per gallon. (Rising Gas Prices)…
According to Glantz (2012), the utilities derived from the article have to do with the way the community consumes the oil that is being used. When the gas prices are up there is a necessity for the oil or fuel and it will most likely cause the prices to go down. In contrast, when the prices of the oil go down, there will be more of a demand and a possible shortage of oil because the demand would have been great.…
Gasoline prices in Hennepin County have risen from $ 2.283 to $2.69 over the last 12 months with a series of price fluctuations in between. Prices fluctuate for a number of economic reasons. One such reason is supply and demand. We have seen gas prices raise after 9/11 and more importantly after the start of the war with Iraq. So, why does supply and demand lead to fluctuation of gasoline prices? It is quite simple if we understand the laws of supply and demand. The relationship between demand and supply determines the prices of gasoline, prices are established by supply and demand. When reduction in supply occurs while demand rises, prices increase quickly. However, on the flip side of this when the supply increase while demand decrease, prices decrease. It is interesting to see how the results of the consumers reaction to high gas prices (when the prices were expensive due to a limited numbers of suppliers but lots of demand) has now in essence contributed to the prices decreasing. Since price had reaches high levels, consumers have attempted to find alternative measure for transportations need and this demand for gasoline has decreased and caused a decrease in gasoline price.…
Fuel prices began to rise because the supply of oil was not meeting the ever-increasing demand for fuel. The Organization of Petroleum Exporting Countries (OPEC), a group of nations that determines what the guidelines for world fuel exports should be, lowered the production quotas in 1999, even though the demand for oil was rising around the world ((Facts.com, 2005). During this time, in the United States, the demand for oil was increasing due to the strong economy. Asia's economy was also rebounding from an economic crash in 1997 (Facts.com, 2005). These two factors allowed more consumers to travel further distances in larger cars. Consumers began to feel more confident in the economy and were not so money conscious. Instead of the small, fuel-efficient cars, consumers began to buy sport-utility vehicles (SUVs) that required large quantities of gas. Gas prices were a dollar lower in 2000 than they were in 1987 (Facts.com, 2005). Gas costs were lower per gallon than Coca-Cola, milk, and orange juice and significantly lower than olive oil and eye drops (Facts.com, 2005). Consumers would use this reasoning to justify purchases of the fuel hungry SUVs. Americans were encouraged by the government to rethink the purchases of these gas-devouring vehicles and to place more concern in fuel alternatives to…
In Michael’s article he briefly goes over how America is hurt by gas prices. Not just the people who drive a lot but everyone. Cars to get us back and forth to work, school, stores, church, etc. If you do not drive a car it is much needed in airplanes to get us from state to state, Buses to take you from city to city back and forth to work, and Boats to ship goods from Countries across seas so we can live like food, oil, GAS!…
Attention Getter: We all need our cars to get us from point a to point b but with the price of gas being so high, many people ride the bus or train to save themselves from shelling out money at the pump. Spending money is an emotional process for most working class citizens, especially if it’s something that we need daily but alas we don’t have a choice. We will always have places to be in life, but if only gas were less expensive, commuting wouldn’t be as taxing on our wallets.…
As we all know that the price of gasoline is definitely driven by the concept of supply and demand. Never the less prices fall, quantity demand will rise, when price rises, quantity demanded will fall. Usually this is a true statement in most cases. But gasoline is a necessity to most Americans. The demand for fuel does not decrease when the price increase. Consumers often influence the price of gasoline. Gas prices in the late spring and summer months are the highest during the entire year.…
For most singers, they have the tendency to rely on the internet to find a remedy or ideas that can help them cure their voice problems fast. Or they go to a friend, who strobly believe that they have found the right beverage or mixed drink that can help them with their vocal needs. Whether it’s a sore throat before a big show, having a head cold, or having that little tickle in the back of your throat that won’t go away, there always seems to be something out in the world that can help singers and performers with vocal problems. With endless ideas of vocal cures and new innovations, we can never truly tell what the perfect solution to heal our voices is. As professional singers, we like to put a great deal of strain on our voices, singing to much, giving the best performance of your life, etc. It's imperative to take care of the vocal cords and avoid as much damage as possible. To keep your voice sounding its best, there…
Fracking is a process of injecting water, sand, or chemicals at a high pressure into rocks that creates cracks within these rocks which allows oil or gas to flow through. After the oil or gas flows through, it is now able to be extracted. This also releases brine, or waste, which is then pumped into injection wells. Although this process could bring millions of dollars into the oil and gas industry, it is also the number one cause of earthquakes in Texas. It also can release carcinogenic chemicals, or chemicals that aid in causing cancer.…
I strongly urge you to do something drastic about fracking. Protecting the profits of companies should not come before protecting the health and well being of American Citizens. With the Energy Policy Act, the cards are stacked against the average citizen and in the favor of deep pocketed oil and gas companiesThis is not just and I ask you to do something about it…
Do you like smelling like an ashtray or having yellow teeth? Why not try vaping? E-cigarettes or vapes are electronical battery operated cigarettes used to smoke vapor instead of smoke. There are different bottles of flavored liquid that gets poured into the vape’s heating device that turns the liquid into vapor that you inhale. Smoking cigarettes is becoming a thing of the past and vaping is the thing of the future.…
assive smoke is when non-smokers are breathing in the smoke that a smoker is smoking. Passive smoking is not good, because non-smokers breathe it in, as well as the smoker, and it is very harmful for the non-smokers as well as the smoker. It is also a huge source of indoor air pollution. Four-fifths of the smoke that builds up in a room with a smoker is the more harmful "sidestream" type. Tobacco smoke has over 4,000 chemical compounds, which includes 40 carcinogenic agents that are cancer-causing. Tobacco smoke also has carbon monoxide, which is a poisonous gas, that inhibits the transportation of someone's oxygen to their body's vital organs via the blood. Also, the smoke that is emitted from the tip of a cigarette has almost double the concentration…
says “51 out of 4000 chemicals” are something that causes cancer or known to be “Carcinogenic.” However, smoking cigarette is not only causing cancer but also other serious disease such as “increasing the risk for stroke, coronary heart disease, lung disease by 2-4 times” and “diabetes, affect men’s sperm, and are dangerous for pregnant women.” According to World Health Organization, tobacco use kills about “six millions people per year,” which more than “five millions people” die from consuming cigarette directly while more than “600.000 people die as second-hand smoking.” Just in 20th century, tobacco has killed approximately “100 million people” and if it continues, tobacco will cause “1 billion deaths in 21st century”…