Expository Essay on Gas and Oil Prices

How embrocate and fluff Prices Affect the Economy Stacey Melton Eng. 101 September 5th, 2010 K ben Glass How Oil and Gas Prices Affect the Economy While supply and demand affects embrocate and blow out prices, the join States and surrounding countries may be suffering economically due to their intense dependence for crude anele colour. The effects on our economy today be somewhat extreme. Population increase combined with current unemployment rates have temporally brought on a recession. According to Dictionary.com (2010) a recession is defined by a of import decline in activity turn out across the economy, lasting longer than a few months. over the past 20 years our economy has seen the effects of twain recession and economic growth. Many of the changes we face today are because of several factors, but the roughly influential could be oil and gas prices. The United States does not stand alone on the inflation of gas prices though surrounding countries are severe to cope as well. High oil prices are of significant importance to the worlds economy, and can cause uncomely reactions. Although most economies have become adaptable over the years, countries are still trying to find ways to deal with these changes. Oil and gas prices rise or fall daily and global demand is growing as well.

Although the United States was once a major exporter of oil, today it relies on foreign exporter to supply most of their oil needs. The United States exports oil from Canada, Mexico, Saudi Arabia, and Venezuela, just to light upon a few. These foreign countries supply the United States with 60 portion of their oil needs. The other 40 percent comes from such states as Alaska, Texas, and California. In such cases of an emergency, such as a hurricane, the United States maintains an oil reserve. According to Amadeo (2010) The U.S. uses 20% of the worlds oil (para. 6). The amount used for transportation is two thirds of the worlds oil and this includes what oil is used for heating during the winter... If you want to get a skillful essay, order it on our website: Ordercustompaper.com

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