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
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...
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...
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...
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...
The U.S. Energy Information Administration predicts that gasoline prices would average “$3.60 per gallon in May and June” and also notes that, “should crude oil prices not decline from current levels of over $110 per barrel retail gasoline prices could end up peaking even higher...
One good example would be Hurricane Katrina. The production rates went down and therefore caused a gasoline price hike. Another event that has affected the gasoline prices is the war that our country is currently in...
Hurricanes can damage offshore drilling platforms, coastal refineries and shipping ports. This was the case in hurricane Katrina. If a tanker is lost or damaged and leaks into the ocean, that can affect prices...
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