This website uses cookies to ensure you have the best experience. Learn more

The Unstable Change Of Gas Prices Across The World

2072 words - 8 pages

The Unstable Change of Gas Prices Across the World

The price of gasoline is a major interest to almost everyone in the country and almost
everywhere in the world. It seems that every month or even more frequently, gas prices
are either rising or dropping but never staying stable. Gasoline prices are affected by
many factors, including the price of crude oil in the world market, supply and demand for
gasoline, local market competition, temporary supply interruptions, government
regulations, or taxes. Gasoline is produced by a distillation process where crude oil is
heated and fumes are captured and converted into many products such as kerosene, jet
fuel, and gasoline to name a few. Therefore the price of crude oil, which is extracted
from oil wells beneath the earth's surface, is a major factor in gas prices. The five
leading oil producing countries and their approximate shares of the world supply of oil
are: Soviet Union 21%, Saudi Arabia 17%, The United States 15%, Venezuela 4%, and
Mexico 4%. These five countries made up 61% of the world's oil production back in
1980. Even though the United States is a major producer of oil, it does not make them
self-sufficient. The United States uses more oil than they can produce and must look
toward foreign countries. Therefore, the United States is forced to deal with an
organization called OPEC The reason the United States goes through O.P.E.C., is not
only in its own interests, but also in the interests of its allies and in the interest of
maintaining world peace. OPEC which stands for Organization of Petroleum
Exporting Countries, is made up of 13 countries: Iran, Iraq, Kuwait, Saudi Arabia,
Venezuela, Qatar, Indonesia, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador,
and Gabon. It controls approximately four fifths of the worlds oil reserves in the
non-Communist world. OPEC was founded in Baghdad, Iraq in September of 1960.
The headquarters were initially set in Geneva, but were later moved to Vienna in 1965.
OPEC was organized in response to oil producing countries that did not consult with
the Middle Eastern oil states before lowering their crude oil prices. The producers feared
that other countries would establish monopolies. The aim of OPEC was to create a
universal price between the countries, in order to ensure peace between oil producers
throughout the world. OPEC also wanted to provide its members with technical and
economic support in times of need, since not all the countries were completely stable.
Even though the goal of OPEC was to establish firmly unified prices among their
members, the organization was not always successful. In their quest for control over the
world market of oil production, they have run into several obstacles and setbacks.
OPEC has barely survived due to internal conflicts among its members. Since OPEC
almost has a complete hold on the worlds oil supply, the United States is extremely
...

Find Another Essay On The Unstable Change of Gas Prices Across the World

Animal Rights across the World Essay

1851 words - 7 pages Our world today is becoming less and less conscious of the pain and suffering being inflicted on animals. As the outcome, animals are becoming even further tarred in society. Humans have and are continuing to handle animals as if they are some kind of material goods. This is considered as being immoral, as animals have their own lives, and they think, have feelings, can feel pain, require love, happiness, and everything else that humans have. As

The History and Evolution of Buddhism Across the World

2658 words - 11 pages The History and Evolution of Buddhism Across the World Religions have been an ever-growing, ever-changing part of peoples lives throughout the history of the world. One of the most dynamic of these religions is the practice of Buddhism. Today nearly 450 million people are influenced by its traditions worldwide. It is this massive influence that makes understanding Buddhism so crucial in today’s world. This paper aims to express its

Religion and Governments across the World

2056 words - 8 pages is spelled out in our constitution and ispracticed in most countries of the world, even in the former USSR and China. In democraciesit is legal for a political party to yearn for religious domination, but in all democratic countriessuch parties are very small and never reach the stage of challenging their constitutions. Thename 'Christian Democratic Party,' common in Europe, refers to moral roots, not to theocraticambitions. The consequence of

Mustard Gas - Molecule that changed the world

927 words - 4 pages would make sulfur mustard a molecule that would change the world for the better. In trials, it was shown that Nitrogen Mustard, a derivative of mustard gas and an effective warfare agent in on its own [9], was effective at treating lymphoma making it the world’s first anti-cancer drug. Since this development Nitrogen mustard has been used in a number anti-cancer drug and lead to the development of other nitrogen mustard treatments including

To Change the World

2443 words - 10 pages Davison Hunter views the incarnation as central to the life of a Christian in the late modern world. From his observations of scripture, culture, human behavior and philosophy, Hunter concludes that Christians are called to a life of faithful presence. In his book, To Change the World, Hunter first lays out the assumptions that modern Christians have about culture and faith, then challenges those assumptions and proposes that faithful presence is

Microprocessors Change the World

1016 words - 5 pages Microprocessors incorporate the functions of the computer's central processing unit by; “interpreting the instructions it has received from memory, and then performing the task required.” (labspace.open). Although microprocessor chips were first used in calculators, we can now find them in everyday appliances such as washing machines, microwaves, refrigerators, and automobiles. Microprocessors are the hearts (heart) of PCs and have had major

change the world

763 words - 4 pages What do history teachers teach? History teachers teach about the past events of someone that affected the world today. Since there have been several influential people in history, Eleanor Roosevelt is a prestige woman because she is very helpful person, a great leader, and a supporter. First, Eleanor Roosevelt is a very helpful person because she participated in the Red Cross during World War I. Roosevelt helps take care of the shell shock and

The bullet that was heard across the world

1412 words - 6 pages what’s happening come the surface. The world will never know the true facts, of what occurred, my motives. The people had, that had so much to gain and had such ulterior motive for putting me in the position I’m in, will never let the true facts come above board to the world.” The report asked Jack, “Are these men in high positions?” Jack replied yes to the reporter. Coming from the accounts of Jack Ruby, it seemed that Lyndon B. Johnson played some

Gasoline prices, spiking and dropping all over the world

2043 words - 8 pages The price of gasoline is a major interest to almost everyone in the country and almost everywhere in the world. It seems that every month and sometimes more frequently, gas prices are either spiking or dropping, never staying stable. Gasoline prices are affected by many factors, including the price of crude oil in the world market, supply and demand for gasoline, local market competition, temporary supply interruptions, government regulations

Analysis of the Movie Across the Universe

689 words - 3 pages Across the Universe Final Project The 2007 film Across the Universe take place in the late sixties depicted how American society was affected by the Vietnam War. The film involves music by the Beatles which also portrays the revolutionary feeling of the time period. The movie follows a group of twenty something’s each affected differently by the changing times. The film portrays the Detroit riots, the draft for the Vietnam War- fifth

Connections across Texts about World War II and the Holocaust

1456 words - 6 pages Connections across texts Samantha Beckman War is an atrocious event and brings an awful loss of life. War is evil and there is little glory about it. But can there be a just war? To investigate the idea of a just war, I have studied the texts Schindler’s List directed by Steven Spielberg, The Book Thief written by Marcus Zusak, Base Details written by Wilfred Owen, and The Soldier written by Rupert Brooke. Connections across texts include

Similar Essays

This Essay Is About Why Gas Prices Change. It Includes Background Information On Petroleum As Well As The Way The Gas Economy Works

1324 words - 5 pages demand for gasoline across the world in the past few years. More people are willing to pay more for the same amount of gas. A "higher demand from a recovering Asian economy caused more competitive bidding for crude oil supplies in the international market and was a contributing factor to an increase in gasoline prices in 1999." The United States alone demands about 13 million barrels a day just for transportation. One of the reasons for the

The Effects Of High Gas Prices

655 words - 3 pages Gas is an important productive resource in the world. Driving cars, heating buildings, producing electricity, people all need gas. Therefore, gas is directly related to people's normal life and the global economy. Recently, due to the fights between Israel and the Hezbollah guerrilla, the Middle East political and economic situation has been deteriorating, which has led to the continuous hikes of gas prices. Since gas plays an important role in

Gas Prices And The Example Of Supply And Demand

863 words - 3 pages price of the good (or service) and thus, practically speaking, moves the supply curve upward. In other words, the direct and indirect effect of the security tax, increases the cost of air travel and reduces demand.The substitution effect is the change in quantity demanded, resulting from a change in relative prices between two goods, or services. So, as the differential price of air travel on major airlines widens versus low-cost carriers, the

Rising Gas Prices In The United States

1125 words - 5 pages war has begun in Libya it too will end, resulting in production and exportation of crude oil once again. Be it from the leadership of Gadhafi or the rebels, it is imperative to the stability and success of Libya to reintroduce crude oil to the world market. This will ultimately bring prices of gas down for Americans. Works Cited Administration, eia Independent Statistics & Analysis U.S. Energy Information. “A Primer on Gasoline