We have reviewed the acquisition of the oil from deep beneath the earth’s surface from hundreds of years of decomposition of plants, animals, and other decomposable materials. We went over some of the countries the oil is procured from, and we also discussed the many ways of transportation available to the world to economize on the money making fossil fuel. Now let us look at the demand for the oil and the general need for the fuel that powers our world as we know it. 
Something that some are aware of who are familiar with economics is supply and demand. This is described first as supply as the amount of goods available at a given price at any time. Demand is how many consumers desire the goods that are in supply. In other words chances are the consumer will want more and more making the oil very valuable towards those wanting to have a more luxurious lifestyle. Unfortunately like most things involving luxuries greed is present in no short supply. This Has especially been proven in the Exxon Mobil/ BP scandal were there was significant price gouging to make extensive profits by taking advantage of the little guy namely you and me. Price gouging is referred to as simply raising the prices of there gas to an unneeded extent to make the big business more money. This being said what are we to do about ridding ourselves from the addiction that is oil and its uses.
Something that some are aware of who are familiar with economics is supply and demand. This is described first as supply as the amount of goods available at a given price at any time. Demand is how many consumers desire the goods that are in supply. In other words chances are the consumer will want more and more making the oil very valuable towards those wanting to have a more luxurious lifestyle. Unfortunately like most things involving luxuries greed is present in no short supply. This Has especially been proven in the Exxon Mobil/ BP scandal were there was significant price gouging to make extensive profits by taking advantage of the little guy namely you and me. Price gouging is referred to as simply raising the prices of there gas to an unneeded extent to make the big business more money. This being said what are we to do about ridding ourselves from the addiction that is oil and its uses.
References cited
Alejandro Bodiro. “Why does gas keep rising? Greed, demand, politics blamed”
Free press blog April 30th 2007
Alejandro Bodiro. “Why does gas keep rising? Greed, demand, politics blamed”
Free press blog April 30th 2007
2 comments:
Can you go into more detail on the Exxon/Mobil/BP scandal? What numbers are you speaking about here? I think using specific statistics can really drive home the discussions you have here regarding demand, and it will also allow readers to make those connections between what they pay at the pump and what the cost is to produce the oil.
Your topic is one that needs to be explained over and over because people still dont understand how this could be happened to America. Good job on explaining it in your own words.
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