An overview of the changing prices of gasoline over the years and the effect on the American economy.
Written in 2004; 12,955 words; 26 sources; MLA; $ 246.95
Paper Summary:
This paper discusses how crude oil has proved to be one of the most versatile forms of energy and how man has used this fundamental law of energy conversation to make life easier for himself and the community at large. It explores the topic of gasoline from its refining to its conservation and, in particular, the factors affecting its ever-changing price and the economy.
Outline
Introduction
Information About Crude Oil
Refining of Crude Oil in the United States and Worldwide
Workforce in the Petroleum Industry
The History of International Petroleum Pricing
The Achnacarry Agreement
The Rise of OPEC Power in the 70?s
Effect of Oil Price Increase on the U.S. Economy
Variables Affecting the Cost of Petroleum Products
Impact of Price Increase on the U.S. Economy
Impact of Petroleum Price Increase on the World Economy
Political Influence on Price Increase
Petroleum Product Transportation and Distribution
Petroleum and the Transportation Industry
Types of Fuel Used in the Transportation Industry
Fluctuating Fuel Prices in Recent Times
Impact of Prolonged Petroleum Use on the Economy
Conclusion
From the Paper:
"The high cost of oil production in the U.S. would also be impacted by the price decrease as a result of the additional capacity in Iraq. The U.S. producers would become uncompetitive and may eventually have to stop production of oil in current oil and gas-producing states of Alaska, Louisiana, Oklahoma, Texas and Wyoming. The U.S. government may have to impose tariffs and taxes on imported oil in order to keep the local U.S. producers competitive. (Bartis, 2003) Oil exploration and distribution channels can cost billions of dollars to develop. This includes the location and identifying of oil wells, the size and capacity of the well, the type of geography of the area and the long-term potential of the oil well are all-important factors in the cost of the oil production set up for any oil well site. It takes time and effort from the identification of the oil well to the actual production of crude oil."
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