Like in the 1970’s, there were problems, but now seems like it’s happening once again. Crude oil hit an all-time high of $50 a barrel last week (10/3/04) and many expect crude, heating oil, gasoline and natural gas to go higher before they go significantly lower. Then since our economy is becoming larger and the only way to move supplies/food is to use gas/oil, the oil prices are going to increase... displayed 300 characters
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Then since our economy is becoming larger and the only way to move supplies/food is to use gas/oil, the oil prices are going to increase. As we look to the prices now, they’re more than $120 a barrel (Insama). But if we look in the future of using these products (Gas/Oil), we might run out of them and we will have to find a different way to use transportation for the world, as a whole... displayed next 300 characters
The U.S. average retail price for regular gasoline remained at or above $3 per gallon for nine consecutive weeks during the summer. This compares to four weeks in the summer of 2006, before it declined to an average of $2...
However; gasoline prices would have to increase by a large amount to reduce the quantity of consumers' purchase, and still, this would cause a relatively small decrease in the demand of gasoline by consumers...
The commodity, energy, is something
that people can not go without during the winter months. If their is a shortage,
which means that consumers demand more than the available supply, it leads to an
increase in price...
Some areas in the country are required to use special gasolines. Environmental programs, aimed at reducing carbon monoxide, smog, and air toxics, include the Federal and/or State-required oxygenated, reformulated, and low-volatility (evaporates more slowly) gasolines...
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