Final Expository Essay Com 150

Final Expository Essay Com 150 - Oil and Gas Prices -1- Oil...

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Oil and Gas Prices - 1 - Oil and Gas prices Thomas Martin April 25, 2010 Associate of Business Brett Grumm
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Oil and Gas Prices - 2 - We, as a nation, go through as many problems in our everyday life. From social to economical, the problems are countless. One of the problems is the rising fuel price. This has not only become a household issue but has become a national crisis. Before, gassing our car was not even an issue but now we have to make it as a bill. Oil and gas prices undergo major price fluctuations in short periods of time because of supply and demand One of the main reasons for rising oil prices is the reliance on foreign oil. United States is the largest consumer of gasoline in the world. More than half of the gas we use every day is imported to the US. The ratio between gasoline imported and gasoline produced domestically is almost three to one. We as a nation consume almost 21 million barrels of gasoline a day. If one can remember the promises made by the political leaders over a period of time that the gasoline will never cost more than $1/gallon, and that they will not be importing as much oil as that were back in 1977, it has become there to see those promises coming true. Importing gasoline in such amount has not only paralyzed us in depending on foreign oil but also has created a large trade deficit in the international market. As meaning to export ratio is already excessive, we are paying a fortune to those foreign countries to meet our need. For example, to produce gasoline domestically, it cost just over a dollar which includes all taxes implemented by the power and profits margins marked by the manufacturers. But we still spend a fortune at the pump because they have to include the shipping charges and reliability fees to the oil producing country. United States imported $453.3 billion worth of gasoline in 2008 and it remains unanswered how much of it was shipping charges were.
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This note was uploaded on 05/09/2010 for the course COM 150 AAFO0NVE53 taught by Professor Tommymartin during the Spring '10 term at University of Phoenix.

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Final Expository Essay Com 150 - Oil and Gas Prices -1- Oil...

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