...Rising Gas Prices COM/215 Luis A. Garcia June 20, 2011 Pamela J. McGlynn Rising gas prices This essay will show the effects of rising gas prices and how they will be at an all time high in the up coming years. One will read various viewpoints from United States Government officials, Law officials. One will also show how this raise in gas prices will have an impact on businesses and how the consumer will be affected in the long run. Gas prices are on the raise because of unrest in the middle east and because of this it directly affects the cost we pay at the pump to fuel our vehicles. The first viewpoints come from an article published by ABC news. The article was written by Maggy Patrick and Linsey Davis, They interviewed a former executive from the Shell Oil Company this executive is anticipating that gas prices could reach five to six dollars per gallon by 2012. is the founder and CEO of a nonprofit origination called Citizens for Affordable Energy, John Hofmeister was named president of a Houston-based Shell oil company in 2005 until he retired from the company in 2008, said he predicts the hikes by November 2012 due to the increase for gasoline worldwide. He also stated: (Sloan, 2011). “While demand is rising steadily, the world is struggling to increase production. Demand is approaching 90 million barrels per day, while only 85 million barrels are being produced. Today, gas prices are averaging at...
Words: 1008 - Pages: 5
...changes include volcanic activity and anthropogenic changes are caused by human influences such as burning coal oil. I believe that global warming is taking place; climate change has already had observable effects on the environment. Glaciers are shrinking, ice on rivers and lakes are breaking up earlier, plants and trees are flowering sooner. The changes in the weather is one indication, many places have been experiencing more floods, droughts and more severe heat waves. According to the Environmental Protection Agency (EPA), the average surface temperature across the contiguous 48 states has risen at an average rate of 0.13°F per decade. Average temperatures have risen more quickly since the late 1970s and seven of the top 10 warmest years on record for the United States have occurred since 1998, with 2012 being the warmest year on record. A second indicator is the change in the sea level. After a period of approximately 2,000 years of little change, sea level averages has rose throughout the 20th century, and the rate of change has accelerated in recent years. When averaged over all the world’s oceans, total sea level increased at an average rate of 0.06 inches per year from 1880 to 2013. However since 1993 average sea level has risen at a rate of 0.11 to 0.14 inches per yea roughly twice as fast as the long-term trend. The third indicator the...
Words: 1159 - Pages: 5
...there is an employee hire rate of 3.3% and a separation rate of 3.3%; this is part of why the number of job openings did not change from July to August. The number of job openings changed in all industries except accommodation and food services, in these areas the numbers decreased. Overall this is an increase from 2009 where there were 2.4 million job openings. In 3 years we have increased the number of jobs available by 1.2 million jobs. Of this increase the amount of government jobs changed very little, jobs increased for nondurable goods manufacturing, wholesale trade, finance, insurance, and federal government. Most of the job openings are in the North East of the US and in the South. Positions decreased in mining and logging careers, this trend may stay on a decline due to the change of public interest. We are trying to conserve trees so logging positions are not as in high demand as they have been historically, we use more electronic communication than paper and we recycle, this all contributes to the decline of the logging demand. We are still building houses, and there is a need for logging to provide wood for homes, but even there we are using recycled materials and finding alternatives. Mining industry is also going to stay on the decline due to finding alternatives to energy. We are moving away from coal energy and moving toward solar, wind and other alternative sources of energy. US inflation rose by the most in August 2012 than it has since 2009. This is due...
Words: 1528 - Pages: 7
...can see from the graph, the price movements in oil from 2002 to 2011 were constantly increased from 2002 to mid of 2006 and it slightly decreased until 2007. Unfortunately, the oil price have a major increased from $55 per barrel to $145, the highest peak price among all these years in 2007 to July 2008, however, it doesn’t last any longer, in 2008 to 2009, the oil price dropped from $145 per barrel to $39 per barrel and this is also a major changes in price among these years. Then, the price of oil started to increase steadily after its major changes in price for the last one year. Demand, in economic terms, shows how much of a product consumers are willing to purchase, at different price points, during a certain time period. After all, we all have limited resources, and we all have to decide what we're willing and able to purchase, and at what price. As an example, let's look at a simple model of the demand for a good – let's say gasoline. If the price of gas is $2.00 per litre, people may be willing and able to purchase 50 litres per week, on average. If the price drops to $1.75 per litre, they may be able to buy 60 litres. At $1.50 per litre, they may be prepared to purchase 75 litres. Note that while some gas usage is essential – driving to work, for example – some use is optional. Therefore, as gas prices drop, people may choose to make more optional trips during weekends, and so on. This figure above illustrates the law of demand: as price falls, the corresponding quantity...
Words: 1651 - Pages: 7
...This constitutes 33.5% by oil, 26.8% by coal and 20.8% by gas. The renewable energy sources like hydropower, solar power, wind power, geothermal power and biofuels contributed to about 13% of the world’s energy supply and nuclear power contributed to 5.8%. The facts show that oil is the most popular energy fuel. Since their exploration, the petroleum fuels continued as a major conventional energy source. On the other hand, they are limited in reserves and highly concentrated in certain parts of the globe. Those countries not having these resources are facing energy / foreign exchange crisis due to heavy import bill on crude petroleum. Increased extraction and consumption of fossil fuels have led to a fast depletion in the underground-based petroleum derived fuels. These factors have contributed to a sharp increase in petroleum prices. Also, the petroleum fuels are currently the dominant global source of CO2 emissions, Green house gases & global warming. Their combustion is posing a stronger threat to clean environment. The global warming emissions are the most serious environmental problem. Therefore many nations have signed the UN agreement to prevent a dangerous imbalance in the climate...
Words: 941 - Pages: 4
...2008 Break even price for oil & gas: US$87.24-BMO Nesbitt — Oil and Gas Investments... Page 1 of 5 Learn how to invest in oil and gas stocks. Get your free guide here. Home About Contact Us In the Media Subscriptions Archives Members Center 2008 Break even price for oil & gas: US$87.24-BMO Nesbitt by Keith Schaefer on July 22, 2009 The breakeven price for oil and gas companies in 2008 was US$87.24 per barrel of oil equivalent (boe), BMO Nesbitt Burns said in their annual Global Cost Study released July 21. The three year average for the industry’s breakeven price is US$73.60. They estimate the 2009 breakeven price will fall roughly 20% to close to US$70. It has risen steadily since 1999 when it was $16.96 BMO Nesbitt Burns is one of the largest Canadian brokerage firms. Their survey included 118 companies that produced 19 million barrels of oil per day (bopd) and 85 billion cubic feet of gas per day (bcf/d). These numbers encompass all costs, or what the industry calls full cycle costs, and include a 10% return on capital for the producer. (This is an important distinction as many investors get confused on costs. When companies report break-even costs on wells or production, they are often referring to operating costs, or what the industry calls half-cycle costs. Energy companies can say they can produce oil or gas at $X, but that may be on an operating basis, and not include items like land acquisition (this is especially true for the new shale gas plays).) – — – —...
Words: 1562 - Pages: 7
...WWW.TPAPERS.BLOGSPOT.COM SPLIT CYCLE IC ENGINE www.tpapers.blogspot.com For more papers www.tpapers.blogspot.com Help your fellow students… Explore more…. Mail your papers to totpapers@gmail.com SPLIT CYCLE IC ENGINE Abstract: The Split-Cycle Engine changes the heart of the conventional engine by dividing (or splitting) the four strokes of the Otto cycle over a paired combination of one compression cylinder and one power cylinder. Gas is compressed in the compression cylinder and transferred to the power cylinder through a gas passage. The gas passage includes a set of uniquely timed valves, which maintain a precharged pressure through all four strokes of the cycle. Shortly after the piston in the power cylinder reaches its top dead center position, the gas is quickly transferred to the power cylinder and fired (or combusted) to produce the power stroke. Split-cycle internal combustion engine claims have the potential to double fuel efficiency for same size engine, while reducing the manufacturing price by up to 50% which includes a built in dedicated compressor. Rather than using batteries and electric motors/generators to harness braking energy, the engine uses the air compressor. A split cycle engine includes a novel compressor apparatus driven by the combustion engine, a closed-cycle refrigeration system in cooperation with the compressor apparatus, and a pneumatic motor driven by compressed air from the compressor apparatus. Refrigerant in the compressor absorbs thermal...
Words: 3266 - Pages: 14
...Despite the slump in oil prices and conflicts in neighbouring countries, the Gulf region continues to enjoy a stable pace of economic growth, with most firms maintaining employment levels or increasing headcount. Most governments have so far used their large reserves to keep spending and investment plans at previous levels. from absorbing this pool of talent. Pay rises across the region averaged 6.7% in 2014, the highest average increase since the financial crisis, and are projected to accelerate further in 2015 to 6.9%. This is driven by the competition for talent and rising cost of living and, in the case of Oman, increasing unionisation The impact of the oil price fall has so far been of the workforce. At the same time, the strength limited to firms in the oil and gas sector, some of the US dollar, to which most Gulf currencies of which have been downsizing. There has also are pegged, is helping make Gulf salaries more been some slowdown in Bahrain and Oman, attractive for expatriates, reducing upward the countries with lower cash reserves where pressure on wages. governments have started to reduce their investment on infrastructure projects. The UAE, and particularly Dubai, remain the region’s most popular destinations for expatriates. Across the region, the fastest growing sector is Qatar ranks second in popularity with newcomers, healthcare, driven by a combination of growing but has very low retention as the...
Words: 4944 - Pages: 20
...last several years. The article also talks about what actions Canada can take in order to bring our economy back up, and how we should invest in our greatest resource, which are our people Summary: Canada GDP: July 2012 Saw 0.2 Per Cent Jump, Decline in Mining, Oil and Gas (Source: HuffPost Business) During the month of July, 2012 Canada has seen a 0.2 percent decline in its mining, oil and gas extraction. When looking at the different types of sectors, the manufacturing sector performed well with a 6.9% increase along with wholesale trade increase by 0.2%. Although Canada’s output has increased by 1.9%, its weakness still lies in the export sector with a $2.9 billion trade deficit for the month July. Summary: Unemployment rate holds steady at 7.4% (Source: CBC NEWS) According to Statistics Canada, Canada’s unemployment rate remained at 7.4% in October. In addition, October’s unemployment in 7/12 provinces and territories has increased especially in P.E.I with the highest unemployment rate increase by 11.7%. However, the city with the greatest increase in unemployment rate is Toronto with 8.6%. When comparing Canada’s overall unemployment rate with the U.S., the U.S. has a higher unemployment rate at 7.8%. Relation to Chapters 10 and 11 According to the Statistics Canada’s July 2012 report, there was a $2.3 billion trade deficit in Canada, indicating that Canada’s weakness lies...
Words: 1561 - Pages: 7
...PRESENT SCENARIO OF CERAMIC INDUSTRY The global ceramic industry is worth of US$20 billion. Bangladesh is perfectly positioned to expand rapidly in this sector with its high quality, cost ratio and creative human resource base. Traditionally, ceramic industry is a labor-intensive sector and companies in developed countries experience difficulties in remaining competitive due to rising labor cost and recent global financial crisis. Bangladesh, being a gas rich, low-labor cost economy and having advanced ‘bone china’ technology, is perfectly positioned to be a strategic partner in production and supply of ceramic goods (Board of Investment, Bangladesh). The ceramic industry is surprisingly not quite a new one in Bangladesh. It dates back to 1962. People Ceramic Industries Ltd (PCI) pioneered the manufacture of porcelain tableware in Bangladesh (Khandaker and Alamgir 2006). According to Bangladesh Ceramic Ware Manufacturers Association (BCWMA), there are approximately 40 ceramic manufacturers operating in this industry producing tableware, sanitary ware and tiles. A medium scale ceramic plant needs around Taka 10 crore (Taka 100 million) in initial investment and the BCWMA sources say the present investment in the country’s ceramic industry is roughly about Taka 2,000 crore (Taka 20 billion) and this sector employs one lakh (0.1 million) workers. Shinepukur, Monno, Bengal Fine, Standard, Peoples and National Ceramic are considered as major players in ceramic tableware market. RAK...
Words: 4956 - Pages: 20
...Tobacco and Pollution cause Lung Cancer cases Many people who suffer from Cancer have lived in the environment with lost of toxins around them. There are many sources of such toxins, and some of them are Tobacco and Car emissions. The government has recently tired to prevent people from smoking, In 2009 President Obama came out with an act called Tobacco control Act of 2009 and said, “ The legislation takes measures to prohibit tobacco companies from marketing to children such as making candy flavored cigarettes. It also further limits misleading advertising such as the use of word such as "light" with tobacco products.” As you can see that the government of America and also the government of Canada are trying their best to prevent young people and old from smoking and preventing the retailers selling tobacco to people under age or below 19-20. As I was researching for my project, I came across very interesting articles but they were all different from each other, some said that tobacco and pollution (car emission) are the cause of Lung cancer cases, or that no they are not, or that the rates have gone up for tobacco and car sales, or some would say they haven’t. I tired my best to collect the best of the best. It is suspected that tobacco with its negative reputation that is the larger causes of lung cancer, but other says that car emission is also a cause of lung cancer, so I decide to pick this study and find that data’s for which is really the cause of lung cancer or...
Words: 1620 - Pages: 7
...discuss and gives some examples and graphs on price discrimination strategies, price ceiling and what happens when the government regulates prices to give them a price ceiling to protect the consumer. I also want to discuss a perfect competitive market and the short and long term effects if demand rises or falls, also, why some long-run average curves are so steep. Lastly, I will explain the rationale and implications of the new guidelines used by DOJ and FTC for evaluating mergers. Problem 1. Sub shop In my sub shop, called Subtown, after some research I have found that with the pricing structure that is currently in place it has not attracted as many college students as I believe we could serve. The average student at the nearby college eats out three to four times a week for lunch and close to five times a week for dinner with the average meal being nine to twelve dollars. The total population of the nearby college is about twelve hundred students. Since the demand for fast food for lunch and dinner for college students is relatively elastic because there is already seven other fast food establishments in the area that are in close proximity to the college as well. One of those is another sub shop, one is a sandwich shop, and there are three burger places a Chinese food place and a taco place. None of these establishments offer a price discrimination strategy in favor of college students. Subtown came to the conclusion that a price discrimination strategy would be the best...
Words: 1683 - Pages: 7
...money into the economy. When prices are dropping too fast, the government can "print" more money, slightly inflating the currency and steadying prices. However, when prices are rising too rapidly, the government can decrease the flow of money, making the currency slightly more valuable and steadying prices again. In the U.S., the Federal Reserve controls this by regulating banks, adjusting the flow of money into the economy, and lending capital to banks when necessary. To prevent massive financial panics the Fed has three specific tasks -- maximizing employment, stabilizing prices, and moderating long-term interest rates. Pretty much it wants to create a stable economy. 2. Pros and Cons Pros: * Our paper money is a "fiat" currency that can be printed without limit and has no real value – its value is only maintained by the "full faith and credit" of the government. Gold has real value due to its beauty, usefulness, and scarcity. * With a fiat currency the government can essentially manufacture money virtually out of nowhere. Since leaving the gold standard in 1971 US currency in circulation increased from $48.6 billion to over $1 trillion dollars in 2012. Between 1971 and 2003 the entire supply of money in the United States has increased by 1,100%. Under a gold standard, new money could only be printed if a corresponding amount of gold were available to back the currency. * Since leaving the gold standard in 1971, inflation has reduced the value of the dollar...
Words: 879 - Pages: 4
...will be. Normative economic analysis describes what ought to be. Statement (a) is primarily normative because it makes the normative assertion (i.e., a value judgment) that gasoline rationing is “poor social policy.” There is also a positive element to statement (a), because it claims that gasoline rationing “interferes with the workings of the competitive market system.” This is a prediction that a constraint placed on demand will change the market equilibrium. b. Gasoline rationing is a policy under which more people are made worse off than are made better off. Statement (b) is positive because it predicts how gasoline rationing affects people without making a value judgment about the desirability of the rationing policy. 3. Suppose the price of regular-octane gasoline were 20 cents per gallon higher in New Jersey than in Oklahoma. Do you think there...
Words: 1959 - Pages: 8
...Customer Value * Automobile rental service by the hour or day on short notice. * A degree of freedom, “low-car” diet. * Car-sharing alternative to a cab service, renting or owning a car. Actual Product * Zipcars are available in 67 cities/metros in the United States, Canada, and the United Kingdom. * Members are given a “Zipcard”, an access card containing a wireless chip that will open the vehicle they have reserved only at the time they have reserved it and the keys stay in the car at all times. * Reservations include driver’s insurance, gas card for the car, reimbursements for fuel obtained at gas stations that do not accept the included gas card, and up to $15 in reimbursements for typical car maintenance items like car washes and window wiper fluid refills. (Zipcar) Augmented Product * Website offers easy account access to pay memberships fees, add money to Zipcard and change driving plan. * Zipcar has teamed up with universities and colleges to offer the convenience of car ownership without having a car on campus. Product Life Cycle * Zipcar, European car-sharing, occupies the Growth Stage of the Product Life Cycle. In 2000, Zipcar was founded by Cambridge, Massachusetts residents. In October 2007, Zipcar merged with rival Flexcar and in April 2010 Zipcar bought London-based car-sharing firm Streetcar in its latest bid to expand across Europe. By 2009 Zipcar became the world’s largest car-sharing service in 49 U.S. cities, Vancouver, Toronto and London...
Words: 3112 - Pages: 13
