COM 150 Body Paragraphs - One of the main reasons for...

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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 21million barrels of gasoline a day. If I can remember the promises made by our political leaders over a period of time that the gasoline will never cost more than $1/gallon and we will not be importing as much oil as we were back in 1977, it has become our desire 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. Another reason that contributes in rising oil prices is the small numbers of refineries
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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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COM 150 Body Paragraphs - One of the main reasons for...

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