Friday, June 1, 2018

Gas Prices

Sammi Dominiak
Whether we like it or not, gas prices are rising again and unfortunately they do not plan on decreasing the price in the near future as we are all hoping for. Gas prices being increased has a big effect on what we spend our money on because gas is a necessity when you need to drive to work or school. Spending more money on gbas means that most of us will have less to spend on  other goods or services.

The Price for gas is rising quickly and there are no plans of stopping that, gas is $3 in the suburbs currently and merely $5 in the city. President Trump wants to drill of the entire U.S. coast in order to produce more oil and gasoline. Though the United States is the third top oil producer in the world, we want to move higher up the totem pole. People living on the coast have a big disagreement with the thought of drilling on setially land that could be potentially harmful to drill on. The risk of an oil spill on one of the beautiful beaches that line the coast is not low and even the thought of an oil spill is scaring the residents in the area.
Why are gas prices increasing so much? With the economy and government crashing in Venezuela we are expecting the production of oil and gasoline to drop very soon, so raising the gas prices is the short term solution to a long term problem. As the production levels drop more and more gasoline prices will begin to raise more and more so that the U.S. is able to keep a steady economy. We need our economy to stay steady because if we were to decrease gas prices while the production of gas is dropping it would only take a huge bite out of our economy. However another good part of the gas prices rising for the economy is that the use for public transportation will be more necessary helping keep our economy up and thriving.


Works Cited:

Amadeo, Kimberly. “Why Are Gas Prices So High?” The Balance, The Balance, www.thebalance.com/why-are-gas-prices-so-high-3305653.

Crudele, John. “Why Gas Prices Are so High - and What Americans May Have to Risk to Make Them Lower.” New York Post, New York Post, 24 May 2018, nypost.com/2018/05/23/why-gas-prices-are-so-high-and-what-americans-may-have-to-risk-to-make-them-lower/.

Folger, Jean. “How Gas Prices Affect The Economy.” Investopedia, Investopedia, 16 Oct. 2015, www.investopedia.com/financial-edge/0511/how-gas-prices-affect-the-economy.aspx.

4 comments:

  1. Given the fact that I need to pay for my own gas the thought of process staying where they are at is not all that exciting. I drive a lot and I have been sick of seeing the price I have to pay once my car is done at the tank but hopefully trump can reach a compromise with the people living on the coast so we can do something to drop that price again.

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  2. I agree, because of the recent rise in oil prices now that are affecting gas prices, there will be much less spending on other goods and services so that people can save that money and put it into their transportation cost. Gas is something that almost everyone buys and if these prices continue to increase, then there will be much less spending and many unhappy people. Finally, the reason for this rise in oil prices in because of the crashing economy and government in Venezuela. Therefore, raising the prices of oil will help bring Venezuela’s economy back up.

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  3. Gas prices is one of those common things that people like to moan and groan about. It’s common ground for many if us. I didn’t know that the gas price rise was due to the government crash in Venezuela. Hopefully Trump won’t drill into the beaches and ruin all of our coast line. Hopefully the gas prices will settle down soon.

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  4. I like this post because I noticed gas prices rising and was upset but I wasn't sure why exactly it was happening. I completely agree with what you said about when gas prices go up people spend more money on that, since it is a necessity, and less on other goods that we want. This is a good example of opportunity cost since me and many others will be giving up money that we would be spending on other items and instead put it towards gasoline. I think that this temporary fix is not smart, instead we should be focusing on finding new sources of fuel for cars since in the future we will run out. So instead of putting money towards new drill sites maybe we should put more money towards research in order to help ourselves in the long run.

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