Thursday, May 19, 2011

Gasoline prices are very important to the modern economy. The price of gasoline and oil here in the U.S. is often changing. This is because we recieve our oil from the middle east. The price of gasoline in the United States is entirely dependant on how much the middle east charges for each barrel of oil.

The middle east has way to much control over the U.S. economy because of their control of oil. Because the middle east has close to monopoly on crude oil, they can easily raise the prices whenever they please, and by dojng this they can severly damge the U.S.'s economy.

The U>S. reserves also influence the prices of crude oil. We would prefer to keep the price under 100 dollars a barrel, but that is not always possible. Th U.S. must become more independent and not rely on foreign oil as much.

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