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Article 1 - hands on it Demand for the precious resource is...

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Article Title: Why Are Gas Prices So High, And What Can You Do About It? Article Author: Ethan Allen Article’s Publication: Ezinearticles.com Date of Publication: February 18, 2007 Summary In 2004, gas prices climbed dramatically and consumers have not seen much of a break since. A combination of factors has been identified as the causes. The actual companies really do not have control of the oil’s price. Although OPEC has direct influence over the price of oil, the main underlying factor causing the oil crisis is simple supply and demand. Taking the oil from its natural state (in the ground) and refining it for use are big factors in oil’s price. Access to the oil is a very tricky thing. The countries containing the majority of the oil are unstable, which leads to problems obtaining it and an increase in price. Not only is oil becoming difficult to obtain, but everyone is trying to get their
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Unformatted text preview: hands on it. Demand for the precious resource is through the roof. Oil is needed for industry, and automobiles – things that even leading developing countries require. Refining the oil adds as much as 50% to the price. Because the United States does continually less of its own refining, this cost is ever growing for us. The EPA’s stricter regulations have made oil less profitable to refine stateside. Also, hurricanes Katrina and Rita’s significant damage to oil refineries in the gulf haven’t helped any. The good news is, that there are things that can be done to help alleviate the cost, if only minimally. You can drive slower, trade you SUV in for a smaller car, try not to accelerate quickly, drive in a high gear and coast whenever possible. Beyond these minimal steps, gas prices are out of our hands....
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This note was uploaded on 04/18/2008 for the course GB 103 taught by Professor Barker during the Spring '08 term at Tarleton.

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