...that there is a problem in our little community that poses a serious problem for the health and safety of everybody living here. All around me, people ranging from children up to the elderly have been getting sick and everyone has been displaying the same symptoms. Therefore, I started to find out what might be causing this issue. The first thing I did was a survey in the neighborhood of who had symptoms and what the symptoms were. Additionally, I asked them when their symptoms started and what they were doing before the symptoms started. The survey allowed me to see how everyone’s illness connected as everyone displayed the same symptoms and it allowed me to narrow down the possible causes for the illnesses based on what people were doing before getting sick. The next thing I did was take my findings to an expert to see what could cause these symptoms. The expert was able to rule out infection, bacteria, viruses, and point to pollution as the cause for the illnesses. The next thing I did was get a research expert to test many variables of what might have been polluted such as the water, soil, or the plant life. The expert was able to determine that the soil, water, and plant life had all been polluted by gas. I did additional research to find out where the gas was coming from in order to pollute our community. By researching community blue prints and development plans I found out that there are gas lines running under our houses which have been slowly leaking gas over the years...
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...Everyone’s Gasoline Problem. Why does this happen? Gasoline prices have been on the minds of almost everyone lately. Many times people dread having to go to the pump or wait until it is absolutely necessary to full up their gas tanks. Some have even changed the type of vehicle they drive in an attempt to help save them money at the pump. It would seem that gas prices are either always increasing or decreasing on a weekly and even sometimes daily basis Gas prices are affected by numerous factors including the demand and supply for gasoline on the market, the prices of crude oil on the world market, seasonal changes and local market competition just to name a few. In recent years, the world's appetite for gasoline and diesel fuel grew so quickly that suppliers of these fuels had a difficult time keeping up with demand. The demand for gasoline has changed over the years as more and more people globally have access to vehicular transportation. Countries such as China and India, each with a population in excess of 1 billion, are experiencing an expanding middle class that will likely use more gasoline over time1. Although the demand for gasoline has dramatically increased, its supply sources are still the same and are depleting. The quality of the oil is not the same in all locations, hence the higher quality oil cost a lot more. These costs then trickle down to the consumer. Crude oil prices are significantly influenced by the Oil Producing and Exporting Countries...
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...Tracee Finley Business Economics GM 545 Spring Semester 2012 Tfinley73@yahoo.com Everyone’s Gasoline Problem Since September 2010, average monthly gas prices have risen 45 cents to $3.21 (February month-to-date), an increase of 16.4%. But during the past four years, there have been several periods where gas prices increased by even more substantial amounts. In 2008, gas prices rose 94 cents — or 33.4% — to $4.11 between February 2008 and June 2008. Gas prices also increased 63 cents from February to May 2006, 86 cents from February to May 2007, and 94 cents from December 2008 to June 2009. (http://www.edmunds.com/about/press/current-gas-price-hikes-dont-measure-up-to-recent-history-says-edmundscom.html). Prices fluctuate at the pump because of problems in the Middle East, natural disasters and government regulation. Crude oil also plays an important role in gas prices. Crude oil is a natural substance found underground that is used to produce fuel for cars, trucks, airplanes, boats and trains. As of February 2012, crude oil prices made up 72% of the price of gasoline. (http://useconomy.about.com). For every $1 increase in the price of a barrel of crude oil, U.S. consumers are likely to pay 2-1/2 more cents for a gallon of gasoline. The prices that we pay at the pump are determined by supply and demand. For example, if demand rises and supply falls, prices increase, and just the opposite when supply increases and demand decreases, prices will decrease. Being an...
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...Water Issues 1. Introduction Clean and abundant water make available the basis for flourishing populations. We depend on clean water to survive, yet right now we are heading towards a water crisis. Water issues appear on the national news at least twice a week about contamination or droughts to some extent. Climate patterns that are related to a warming world are threatening lakes, rivers, and aquifers which we use for drinking water are being overdrawn, run dry, or tainted with pollution. It is everyone’s responsibility to ensure we protect this vital lifesaving resource and decrease the amount of water waste. The warning signs are out there of threatening water supplies. “Bottle water cost more than gas or milk?” (n.d., 2016). Undrinkable water is not just a local or national problem that possess the largest health risk, and continues to threaten everyone’s quality of life and public health risk in the United States. The more areas that are developed and the removal of the landscape keeps the natural process of percolation which keeps our water somewhat clean. The more areas that are urbanized the more water becomes tainted. When there is water runoff from the weather it picks up toxic chemicals, dirt, and disease-borne organisms as it makes its way through the percolation process along the way. Even though the Clean Water Act is supposed to protect our water, it still get polluted with some accountability. Many of our water assets lacks suitable protections, making...
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...BUSINESS ECONOMICS ECON545 JULY 2013 SESSION CHAPTER 15 QUESTION 14. Everyone’s Gas Problem When we discuss fluctuating gas prices, we have multiple reasons why this may occur. To begin, the price of gas could rise and fall due to breaks in the distribution. An example of the breaks in distribution could be a hurricane in areas of supply or an up rise or political upheaval in an area like Libya. Second, we can look at how close you are to a particular area of the US that would be near oil production or proximity. Third would be competition. How many stations are supplying gas in a certain area or region? As we get closer to a city like Chicago, prices may increase because of higher taxes. “According to the EIA, every time you pay for a gallon of gas, you are not only paying for the price of crude oil (61% of cost), but also federal and state taxes (15%), refining costs and profits (15%) and distribution and marketing (10%).” This is a classic case of supply and demand in economics which relates to the chapters we have discussed. Upon reading about gas and crude oil, I have learned that there are different types of oil. Light/ sweet oil is in high demand because it takes less time to refine into gas which in turn results in faster production. The price of light oil is higher because the supply is low. Heavier/ sour crude oil takes less production and is more readily available in turn the price is low. “Chicago, like most big cities, is required by the federal Environmental...
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...Exercise 1: Question 1 Everyone’s Gasoline Problem Due to the supply and demand, gasoline has become a very dependant aspect of our lives. Supply is the amount of product available on the market and demand is how of the product is demanded by the consumers. In this respect, when demand increases so do the prices and supply decreases and when demand decreases, prices go down and supply will then increase. Through observing and researching, it shows that they are just as important in maintaining market equilibrium. Therefore retailers of wholesale products impact the economy when they increase prices such as what is being done with the gasoline at this time. Gas prices have seen some fluctuations over the past twelve months with a steady increase happening over the past six months in the state of Virginia and I’m sure the entire nation has seen the same. These fluctuations have been due to the economical crisis throughout the world. Some attribute the conflict in Iraq as the main problem. Other causes can stem from natural disasters, or political ties among leaders. In researching the price history of crude oil, it has fluctuated between $72 to $113 between January of 2011 and January 2012. However within that same time period Virginia’s prices fluctuated from $2.99 to $3.93 with the highest price being May of 2011. Seeing the prices on a continuous roller coaster can prompt consumers to be more mindful of their travel intentions. As consumers however, it is difficult for...
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...have something very important that I want to bring to everyone’s attention that lives in this new suburban community. I have noticed that there are community members that are suffering from like symptoms. I truly believe that after doing some research that these illnesses are linked to the environment surroundings. After doing some research it has been brought to my attention that there has been a huge rise in similar and more extensive illness in adults and children. This has become a serious concern for the residence in this community because it raises their chances of getting the illnesses. U.S Government scientists have found for the first time chemicals contaminates in drinking water wells near natural gas drilling operations. It’s a major concern that gas-extraction technique is endangering the health of people who live close to drilling rigs. Gas drilling companies say that the gas drilling technique called hydraulic fracturing, or fracking is safe, but other opponents say it pollutes ground water with dangerous substances that cause the breakdown of red blood cells, lead to blood in the urine and feces, and can damage the kidneys, liver, spleen, and bone marrow. To me this is a major issue that the chemicals in the air and water are causing severe illnesses that need to be controlled and come to an ending. If everyone would come together as a team or like a family and work hard for what they believe in, the problem could be solved and the health issues could be controlled...
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...Everyone’s Gasoline Problem: Gas prices break down and vary on a daily basis primarily in direct relationship to the price of crude oil. 77% of the price of gas at the pumps is reflective to the price of crude oil. 12% is taxes and the other 12% is distribution and marketing. *(US 1) The following 2 charts show this direct relationship. *Chart Midwest Regular Conventional Retail Gasoline Prices Data from http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMRU_PTE_R20_DPG&f=W The price of crude oil internationally can be summed up best by the following chart: In summary the price at the pump we pay is directly related to the price of crude ole and as most of our oil supply is not generated domestically our prices vary according to international pressures and demands. Chapter 3, Question 14 Before Starbucks: Equilibrium QD = QS After Starbucks introduces premium blend: After the hard freeze in coffee beans: After the hard freeze the worlds premium coffee supply would experience a temporary shortage that for the would drive prices up until the supply can be increased. Chapter 3, Question 15 After the deep freeze on the orange crop: After the deep freeze the US’s Orange supply would experience a temporary shortage that for the would drive prices up until the supply can be increased. After Bush calls for an increase in ethanol production and the impact to the US corn crop: The demand would increase and...
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...Everyone’s gasoline problem The fluctuation in gas prices can be caused by many different reasons. One reason has to do with the economic growth of other countries and their demand for oil. Just like the book says, as demand for a product rises than the price for that product will do the same. Countries like China, India, and Brazil are making an economic growth that’s required more and more energy. Because most of the world’s oil comes from the same place, their growth impacts our gas prices as well. http://www.financialnut.com/why-are-gas-prices-rising/ Here is a chart of what is the Dow Jones Industrial equivalent for Brazil. This chart shows that Brazil has reach a very high economic growth and are at a point where their demand for energy is extreme as well. Other factors that play a part is the fact that gas prices rise and fall as crude oil does. http://gasbuddy.com/gb_retail_price_chart.aspx This chart shows average retail price of oil and gas in Houston. This shows a direct correlation between crude oil prices and the prices we as consumers pay for gas. As crude oil rises and falls so too does the gas prices. Oil and gas is an inelastic commodity. This is why the demand for gas hasn’t really diminished while the price of gas has risen. Because it is difficult to reduce spending on gasoline, the effects of price increases are often shifted to other economic sectors. Some economists estimate that for every one cent increase in the price of gas, spending in...
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...Everyone’s Gasoline Problems Fluctuating gas prices can be caused by a number of factors. The price of crude oil and the cost of producing and marketing gasoline have greatly impacted the fluctuation of gas prices that we experience on a daily basis. There has been a significant increase demand for oil worldwide, including growth in other fast developing nations. These nations have significantly grown in the number of citizens who have access to automobiles, and their increasing populations have a strong impact on the amount of crude oil (Forbes, J). The demand for gasoline has increased significantly, due to economic growth. Also, seasonal changes can pose a serious impact on gas prices. Gas prices increase greatly during the holiday seasons and summer because American’s travel increases during these times. For example, the American gas demand increases in the summer season, resulting in higher gas prices during these times (Forbes, J). When the price of gasoline goes down people will buy more creating the demand but due to lowered price gasoline station owners will be discouraged to supply more of gasoline. If the price of gasoline goes up, demand will go down while the sellers will try to supply as much as they can. Just in the last month in Virginia Beach, Virginia, gas prices have risen 19 cents and over the last 3 months it has fluctuated within 49 cents (GasBuddy.com). Chapter 3 Q.14 When Starbucks introduces their premium...
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...Everyone’s gasoline problem The price of gasoline has varied widely from a current low of $3.98 a gallon to a high of $4.21 approximately ten weeks ago. In order to appreciate the reason for this fluctuation it is important to understand that the price of gas, like other commodities, is determined by the relationship of supply and demand. Since gasoline is a relatively inelastic product, the price alone does not have much bearing on the demand. Rather, other non-price determinants such as personal income and product availability play a bigger role in the demand for gas. The recent drop in prices has been largely attributed to a weakening of global demand; particularly the slowdown in Europe’s manufacturing industry. The unemployment rate in seventeen countries that use the euro has increased over the past few months and the United States has added fewer than expected jobs to the economy. These factors have led to a reduction in personal income thereby reducing the overall demand for gasoline. On the supply side of the equation, price increases earlier in the year were caused by supply interruptions in South Sudan, Syria, Yemen and the North Sea. This reduction in supply coupled with the tightening of sanctions in Iran reduced the number of petroleum sellers in the market causing a price hike at the pump. Consumer expectations of further supply interruptions led to the sustained higher prices. Being an inelastic product (few substitutes available), the actual retail...
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...GLOBAL WARMING Global warming is a big issue of the atmosphere on the earth which cause continuous rise in the surface temperature of the Earth. It has been estimated that in next 50 or 100 year the temperature of earth would be increased to a great level which would create big problem of living on earth. The highly known and most basic cause of increasing the Earth’s temperature is continuous rise in the atmospheric carbon dioxide. Rise in the carbon dioxide level is the use fossil fuels like coal and oil, deforestation (cut down of plants) by the human beings on Earth. Decreasing number of the plants on the earth increases the level of carbon dioxide, as plants are the main source of the using carbon dioxide released by the human being (as a by-product of respiration) and other means. Increasing level of Earth’s temperature creates lots of problems like sea level becomes hotter and higher, glaciers melt, flood, strong storms, lack of food, diseases, death, etc. 2. Global warming is a steady process of continuous rise in the level of Earth temperature. Global warming has become one of the biggest problems faced by the world now. It is believed that increasing level of carbon dioxide gas and other greenhouse gases on the earth are the main reasons of heating the atmosphere of earth. If it is not noticed and solved immediately by the efforts of all countries worldwide, it would boom its effects and cause end of life on the earth a day. Its threatening effects are increasing...
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...replaced by gasoline. In present day biodiesel from soybeans and ethanol from corn have started taking the place of diesel and gas. Switching to ethanol and biodiesel has been something of a positive as it helps reduce the threat of climate change and ease dependence on foreign oil. The downside, however, is that we are in conflict with some of our most important needs: food, energy, and a livable environment. (Hill) We are now coming into problems finding and providing answers to the food, fuel, and environment dilemma. If properly produced there are biofuels that can provide climate friendly energy. The difficulty is figuring out where and how to grow them. Our most abundant lands are being used for food production. As demand for energy and food inflates, competition for rich fertile lands could possibly increase food prices and force some of the poorer people into starvation. There is also the threat of extinction of many different plants and animals. Rainforests and other eco systems would potentially be destroyed to make room for new farms. We will never find a solution until we comprehend the intertwined problems the world is facing. Food based biofuels can potentially provide us with cleaner energy, however due to the way it is currently made, only a very small percentage is actually making a positive impact. There is also the other problem of rising food costs. This is not only affecting how people are able to feed their livestock...
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...Everyone’s Gasoline Problems Fluctuating gas prices can be caused by a number of factors. The price of crude oil and the cost of producing and marketing gasoline have greatly impacted the fluctuation of gas prices that we experience on a daily basis. There has been a significant increase demand for oil worldwide, including growth in other fast developing nations. These nations have significantly grown in the number of citizens who have access to automobiles, and their increasing populations have a strong impact on the amount of crude oil (Forbes, J). The demand for gasoline has increased significantly, due to economic growth. Also, seasonal changes can pose a serious impact on gas prices. Gas prices increase greatly during the holiday seasons and summer because American’s travel increases during these times. For example, the American gas demand increases in the summer season, resulting in higher gas prices during these times (Forbes, J). When the price of gasoline goes down people will buy more creating the demand but due to lowered price gasoline station owners will be discouraged to supply more of gasoline. If the price of gasoline goes up, demand will go down while the sellers will try to supply as much as they can. Just in the last month in Virginia Beach, Virginia, gas prices have risen 19 cents and over the last 3 months it has fluctuated within 49 cents (GasBuddy.com). Chapter 3 Q.14 When Starbucks introduces their premium...
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...1. Everyone’s Gasoline Problems - In today’s economy the price of gas has sky rocketed due to America’s decision to be less dependent on foreign oil due to the recent discovery of many oil reserves here on our soil. In recent years the gas prices in my area have been declining; however, we have experienced several periods of a steady range of prices meaning they don’t go higher than a certain price while never dropping below another price as well. After doing some research about my areas gas prices I found a chart that shows prices from as far back as 9 years. In our textbook it list out factors that have an effect on supply and demand. In relation to gas prices I think the biggest factor is “the number of buyers”(Stone 1), which is always increasing with each passing year because with a new year comes a new generation of eligible drivers. I think a factor that also plays a big role is “Price of Related Goods” (Stone 1). Although there aren’t any comparable goods to gasoline there are substitutes you purchase or other options of transportation. With an increase in hybrid vehicles they are becoming a substitute for gas powered vehicles while also proving to be friendlier to the environment. I believe this increase of alternative modes of transportation has kept gas prices down because oil companies know that consumers are beginning to take notice to hybrids and their ability to save money while maintaining a level of comfort and style expected by today’s consumers. *Figure...
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