High Gas Prices - 1241 Words

Gas prices in the United States are breaking record highs. Millions of people need fuel drive to work, to school, and to the bank, to accomplish daily commitments. Some wonder how gas prices got so high. Many reasons like high taxes and demand, give strong evidence of the causes of high gas prices. The effects of elevated gas prices cause Americans financial woes and lifestyle inconveniences. Many people assume the reasons for high gas prices, but are unaware of the significant explanations. Most people would speculate the culprits for raising the gas prices are the oil refinery companies because their profit equals billions, but in reality our elevated dependency on gasoline, higher taxes, and environmental regulations are the†¦show more content†¦2005) Some people believe only major affects on American families would be if the increase was immense and lasted at least five years. The evidence discussed proves their claims wrong. I disagree with the opposing statement that A mericans are not significantly affected and would not be until something traumatic occurs. I fall in the low-income range of less than $30,000 per year. Many people like me are affected in major ways. According to the U.S. Census Bureau, the three-year-average median household income for all states in 2002-2004 is $44,473 per year. (US Census 2004) Many live paycheck to paycheck struggling to get the bills paid, providing shelter, food and necessities, and still finding enough to enjoy leisurely activities. Not too mention, future and unexpected costs like tuition, car repairs, and medical bills have to be worried about. I have a small, fairly fuel-efficient vehicle I purchased in late 2004, with a 13-gallon tank. With the same driving habits, it now costs me $10 to $18 more per week than it did when I purchased my car. If this increase maintained throughout one year which can be easily assumed according to yearly averages, gas would cost me $520 to $936 per year. The opposing side claims Americans would only be seriously affected if the price rose over $4 per gallon and sustained at leastShow MoreRelatedThe Reason for High Gas Prices2463 Words   |  10 Pagesshowing a gas station with the gas prices on a sign sitting in front of it. The gas sign said that the price for regular was an arm, the price for plus was a leg and the price for premium was a first born. As I marveled over what Photoshop can do, I began to think about these high gas prices and what is causing them. Everyone talks about, complains about, and jokes about the high gas prices, but no one does anything about them. Many people told me what they thought was causing the high gas pricesRead MoreThe Economic Impact of High Gas Prices1135 Words   |  5 PagesThe economic impact of high gas prices 1 The Economic Impact of High Gas Prices A Brown Strayer University The Economic Impact of High Gas Prices 2 The Economic Impact of High Gas Prices Section 1: Introduction The American economy is one of the strongest in the world; people from every country comes here to live or travel on vacation with their families and take advantage of its many economical opportunities available to its citizens. Traveling is one ofRead MoreEnergy Price Volatility With Regards Natural Gas3973 Words   |  16 Pages Executive Summary In this paper, energy price volatility with regards natural gas will be expounded on the essentials of market requisites. The report explains a number of factors that lead to price differences in the market as well price volatility implications to the oil and gas companies and industry. Supply and demand factors play a major role in shaping natural gas prices in addition to other factors such as war, environments and OPEC. Value-at-Risk (VaR) as a tool to manage risk and quantifyRead MoreEnergy Price Volatility With Regards Natural Gas3236 Words   |  13 PagesExecutive Summary In this paper, energy price volatility with regards natural gas will be expounded on the essentials of market requisites. The report explains a number of factors that lead to price differences in the market and price volatility implications to oil and gas companies and industry. Supply and demand factors play a major role in shaping natural gas prices but factors such as war, environment and OPEC contribute to price differentials. Value-at-Risk (VaR) evaluates and quantifies riskRead MoreExxonmobile: Social Responsibility in a Commodity Market1377 Words   |  6 Pagescommodity market. ExxonMobil is the world’s largest publicly traded international oil and gas company. 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State or companies have to invest in technology as tankers, pipelinesRead MoreA Brief Note On Gas And The Gas Station1046 Words   |  5 PagesIntroduction Situation C Gas is something that most Americans cannot live without in today’s society. In the past, when cars were not readily available to all Americans, gas was not that important. Those that had cars needed it and those that did not. Prices on a gallon of gas in the 1920’s and 30’s was .25 cents a gallon. That was a lot of money in those days since many people barely made $1500 a year. Now we spend our days complaining about the $2 average price that we pay now. Gas has become a necessityRead MoreEssay on Affordable Gas1246 Words   |  5 Pagesyou suddenly realize that your gas light is on. In a matter of miles the car will come to a disappointing stop with out more fuel. Up ahead you spot a gas station. You feel a sudden relief. As you pull up to the pump that ear to ear smile leaves your face. The same gas that was Three-nineteen a gallon is now well over four dollars. You instantly realize that you can’t afford this trip on your own. Do you cancel the trip or ask your friends to chip in? Why do gas prices continue to rise to such ridiculousRead More Fuel Wars Essay866 Words   |  4 Pagesresponse to the increasing gas prices Over the past two years, it has been said that gas prices would begin to rise in 1999. Immediately, this news grasped the attention of the business sector and public. Both spent their time devising a plan, on how to keep the prices low, but the time has come for these plans to begin working. The fuel prices have increased dramatically and the economy is now starting to feel the effect. Around the world, the increase of the price of crude oil has hit the publicRead MoreInformative Speech931 Words   |  4 Pages2/20/2013 Specific Purpose: To inform my audience about why gas prices are so high, and continue to rise. Central Idea: Gas prices are on the rise in the US recently because of three major factors: the price of crude oil, the increase in internal regulations, and the increased demand for the gas. Organizational pattern: Topical Introduction I. Attention-getter: Back home, I used to spend 6 dollars to fill my car with gas. Unfortunately, today I spent 70 dollars, actually some times