Why Is Gasoline Important In The Future?

Currently Saudi Arabia is one of the leading producers of oil in the world. However, it is losing its foothold on the market. Many countries, like North America, are increasing their oil production and are looking for ways to become less dependent on foreign oil. The increased competition has caused oil prices to decrease. By producing their own oil, countries not only will increase their revenues, but will also reduce their need to rely on foreign oil. By reducing their need foreign an oil a country does not have to worry that their oil supply will be cut off if they go to war.

In the United States of America, corn ethanol is the main raw material we use to move our vehicles to accomplish our daily goals. Obviously, corn ethanol is presenting ethanol by corn. The biomass in the ethanol adds fermentation, a system that breaks down any chemicals or other substance in any liquid. Additionally, it is added distillation, the action of purifying the process of heating and cooling. This is how corn ethanol is made.

Oil is the product that each and every one of us use. It can be used for fuel, heating and even cooking. The most often known for unstable price is crude oil or gasoline. According to the The Economist, The main reason for price shifts of oil is oversupply. The oil production in Saudi rose 10.3 million barrels per day. This increase is the effect of a new method that I being applied to oil extraction. This method is called fracking, fracking is where they drill into tight-rock formations then gradually turning horizontal for several thousand feet more. This results to accommodations to multiple oil wells. This new approved method of oil harvesting has raised the productivity gains and reduced the cost of harvesting oil.

If the government decides to continue with the drilling of new sites or expand the Keystone XL Pipeline there are environmental dangers and concerns to follow and still not enough oil production to fuel the countries demand. The importing of oil from foreign countries would still be a necessity. For now the prices of gasoline are still on the rise and with use of the oil money future tool prices are sure to continue rising. As it seems in this current economic crisis, consumers need to make their voice heard with the government and hope something will change with the way oil is produced and imported to lower the cost for everyone.

The following article is regarding what is most important to everyone around us regarding the pricing for gasoline at the pumps. This is a topic that concerns most people on this planet, why are the prices for gasoline so high and is it regarding the greed of oil producing companies to continue to keep rising the gasoline prices as high as possible. We will discuss the many reasons why these fluctuating pricing keeps occurring within our world market. We will use the retail gasoline pricing between the

Several oil-countries have been facing economic and political turbulence as a result of the crash in oil prices, and there is disagreement among OPEC as how to handle the situation. (Krauss) While this is happening, America’s oil production continues to rise, as it inches closer to becoming an energy superpower in production and consumption; and countries that depend on their oil exports face recession.

The demand of gasoline has increased steadily over the last twenty years. In 1981 the U.S. averaged 6.5 million barrels of gasoline consumption per day. By comparison, in 2004 the U.S. averaged 9.2 million barrels of gasoline consumption per day. For most of this time period, gas prices stayed relatively the same. This is because the U.S. refineries increased their production to meet the demand and maintain the equilibrium price. Also during this same time period worldwide demand for crude oil increased 27%. Crude oil producers also increased their production to meet the demand keeping prices the same.

As stated in his article “Why the Gasoline Engine Isn’t Going Away Any Time Soon,” Joseph B. White believes that “an automotive revolution is coming -- but it’s traveling in the slow lane” (White 260). He goes on to state throughout his article that today’s reality is one that prevents this “revolution” from taking place in the way that Americans all hope for. He sites the current inability to design an engine that would run on an energy source other than gasoline or diesel but still have the same power that traditional engines have, as well as the cost of gasoline versus the cost of electricity, as some of the sources of our woes. Some companies do not want to move away from their old factories and workers whose union agreements make dismissing

Gas prices have been decreasing in some states according to my research on google. Since there has been more oil found, we have more of a supply which means that the prices of gas will drop due to supply and demand. Now that we have more oil for gas, the supply has increased which means that even though demand is high, the prices are lower because we have that supply. It has been the lowest in years, dropping from about four dollars a gallon to about three and and a half. Even though this may seem like it isn’t important to the economy, it is because now more people can afford it so more money for the economy to make from its

Gasoline prices have tended to raise and fall over the course of time. Consumers in my opinion never seem to be worried about if they will be able to afford gasloine. I do admitt that some of them tend o find alternatives when it comes down to getting around town such as, riding bicyles, carpooling and taking public transportation. For some, this still does not deter them from spending money to get to where they are going. Gasoline is a relatively inelastic product, meaning changes in prices have little influence on demand. Price elasticities can be difficult to interpret, as demand can change for reasons beyond changes in fuel price, including changes in other economic factors, demographics, driver behavior, vehicle fuel efficiency, and other

Oil-The article”OPEC #1”explains the oil prices.The Oil of the Middle East is the price of oil has fallen by nearly half in just six months.Anyone who buys oil or gas is happy because the prices are low.Car and truck drivers, airlines, and shipping companies are all happy because they don't have to spend as much money on gas. Oil companies are not very happy. They are losing money.A barrel of oil now costs $58 and last summer it was $107.Oil prices have gone down and people are happy,at least some of

According to Domm (2013), the author of the first article, apart from the unrest in Egypt, several other factors such as a plunge in the inventories of domestic crude oil could drive up demand and in the end trigger an increase in the price of gas. In the opinion of the author, although the problems facing Egypt (and Libya) have affected supply

Gas Prices affected by Geopolitics and Supply problems Along with the demand for oil rising, many disruptions to the supply have created bottlenecks. For example, the war in Iraq has resulted in reducing oil production there, as has also happened in Nigeria due to rebel activity. The continuing nuclear weapons wrangle with Iran, the government increasing its control over industry in Russia, and the oil companies being nationalized in Venezuela has given rise to misgivings about future supplies.In recent years, refining crude oil in the US has also become more expensive, with experts citing two main reasons for this: congressional mandates resulting in shifting towards the production of more environmentally clean gasoline blends, and the oil refineries on the Gulf Coast being devastated by Hurricanes Katrina and Rita in the year 2005. In addition, the production of crude oil in America has also become costlier since the places that have been easiest to drill have largely gone dry.This means that oil companies have to go increasingly into offshore oil producing areas such as the Gulf of Mexico, which cost much more to drill in. With oil companies having to access harder to reach locations, which makes it costlier to produce oil, and simultaneously them being forced to reduce their

Because private companies and nations have over-estimated oil reserves it is difficult to be exact but these estimates of world oil reserves are close and further research will reflect this. Also, rapid exploitation may have damaged many reserves' wells and will limit production. It may be that we (the world) have much less than is believed! The United States past its "peak oil" point back in the early 1970's ( for further research refer to Peak Oil Crisis Books) and now imports about two-thirds (2/3) of its oil. The U.S. economy and the current American way of life is supported by energy from other nations. Those nations that have not already past peak oil (maximum production) are very near it. In the future, production will decrease while at the same time demand increases. The spread between supply and demand will cause higher prices (for all products),

What are the industrial uses for diesel? Diesel is used commonly as the fuel for motor vehicles like cars, SUVs, trucks, and buses. It is also a source of fuel in other industries besides transportation, like the construction industry and the use of diesel in power equipment such as forklifts and excavators, and it is used in the agriculture industry powering the tractors and other farming equipment, along with other industries. How good is diesel fuel for you or the environment? Are there concerns in using diesel? Diesel fuel was thought to be around since the mid 1800s but it wasn’t until the late 1800s when the diesel engine was invented. This invention was a very important one in terms of industry because it started the shift from coal to diesel powered engines. However, the shift to use more fuels like diesel has lead to a concern for how close are we to exhausting precious non-renewable energy sources. How much pollution is being released into the atmosphere? Is there an alternative renewable energy source? With the fear of global warming, all fuel sources, including diesel, are beginning to be replaced, or reinvented, with cleaner and safer alternatives. An example of these alternatives is biodiesel. Biodiesel is an alternative to diesel that can be produced from plant products, such as cornstarch and oils produced from soybean and other oil producing crops (Pittman, 2011). One obstacle that is present with biodiesel produced from plant products is the potential loss