Tidbit #9 - increasing. Personal Analysis: This is a big...

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I.D. # 001983840 – Bus 187 – Tidbit #9 Tidbit #9: “Is California driving toward gas at $4 a gallon?” San Jose Mercury News, posted on 11/08/2007 http://www.mercurynews.com/ci_7402384 Summary: California oil prices are rising. Chris Knittel, an associate professor of economics at the University of California-Davis, stated that if the gas prices stay where they are now, the gas prices will reach $4 per gallon. November is the cheapest gas price season of the year. Just 4 years ago the gas price was around $1.70 per gallon in California in November. Consumers are asking when the gas price increase will stop, but no one could answer when it will stop but keep say that the chances are that the price will keep rising. The main reason for the high gas prices is due to lack of supplies. Although California’s gas consumption dropped over the past months, because the supplies dropped about 8% compared to last year, gas prices are rising. People are worried that the gas prices will never fall and keep
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Unformatted text preview: increasing. Personal Analysis: This is a big problem. Increasing gas price is hurting not only United States, but the whole world. I do not know what the reason is for the lack of supplies of gas but I could guess that it is a complicated politics. With the high gas prices every one is hurting, business and consumers. Business such as a shipping company will notice the difference of their costs in shipping products. These costs will eventually come out of the pockets of the consumers that use the services. With the weather getting cold, people will use more gas to heat up their houses and cars. Maybe this is a wake up call for the people to seriously think of the alternative fuel issue other than oil. Maybe it is time for me to think about bio fuel, electricity, hydrogen, and other possible sources to fuel our lives....
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This note was uploaded on 09/08/2010 for the course BUS 187 at San Jose State University .

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