Gas is important because gas is used to fuel our cars. With the rising amount of gas prices in the past years, people are spending an excess amount of their income to put gas in their car. On September 10, "the average price for regular gasoline in the United States was $2.6899 per gallon. The prices dropped down almost a penny compared with two weeks earlier, according to the nationwide Lundberg survey."
What occurred on September 10 was the oil price drop. What is significant about what happened on the day, was that the drop in oil price was less than expected. Although, that is not the main concern of the article. The article mentions that there was an oil pipeline leakage that triggered a crude oil shortage. This resulted in Enbridge to shut down the largest of its pipelines due to a leak that resulted in a supply on the main transit route in Canada. The resulted in gas prices to have risen near the Gulf Coast. Although in the higher parts of the Midwest, gas prices have dropped.
The big concern is the gas price drop in specific areas, but also the gasp price rises in other areas. Gas is after all, significant to everyone who owns a car. Gas is definitely not cheap. It is costly and even the slightest gas price drop or rise will ultimately take money out of someone's pocket. Nowadays, big bucks are being carried around in wallets in order to pay for expensive gas prices and gas is not something everyone can afford. Therefore the slightest drop or rise will have an affect on oil consumers.
Additional, the cause of the rise and drop in gas prices is the oil leakage. This is definitely not the first time I have read an article about oil spill. Oil spillage around the Gulf of Mexico or in Kuwaitt is a huge problem that effects many areas environmentally. The deadly oil is killing thousands of marine life and destroying the fishing industry as well. The horror of the oil spillage is devastating because we are the cause of the oil spills and they can be prevented. If we were to measure how big of an environment issue this proves to be, we can conjure up the image of how large oil spills have covered waters on earth. The picture is above and it is frightful. I hope that the places where oil spills have occurred will be cleaned out and the marine life saved. There are just too many disasters that have come from the oil spills to be something that can be simply ignored. Therefore, even if there is a rise and fall in oil prices, one has to consider the reason why. Is it because there is another oil leakage? How could we prevent this from happening over and over again?
Source:
MSNBC.com
http://www.msnbc.msn.com/id/39135953/ns/business-oil_and_energy/
1 comment:
Vivian,
A nice informing argument. I find it amazing that gas is actually cheaper than bottled water. Did you ever think of that? But slight rises in the cost of gas can have huge effects on the economy (the price of coffee has similar effects!). Nice post!
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