A discussion of the effects on individuals and on industries of the rise in oil prices.
Written in 2009; 853 words; 3 sources; APA; $ 30.95
Paper Summary:
This paper discusses the economic consequences of the rise in oil prices. The paper discusses the impact of the rise from the personal point of view of the writer and then looks at the effect of increasing oil prices on individuals, as well as on the economy in general. The paper also discusses how the rise in prices affects different industries in different ways.
From the Paper:
"Overall the unwillingness of consumers in fear of their jobs and their future livelihoods and the increased power of oil-producing countries in the world market suggests a dim future ahead for the U.S. consumer individually as well as the economy in aggregate, despite the benefits to some economic sectors and individuals. Because all economic sectors are affected by the rising price of fuel, soon even discount retailers will start to see a drop in sales. They cannot cut prices indefinitely, and cash-strapped, job-insecure, or unemployed consumers will want to hold onto every penny they possess."
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