Please read the following article. What is happening? What are some reasons why? What implicablations does the have for the US economy? What about the up coming election? What, in anything, can the government to counteract the trend? What can consumers do? How will this affect you?
9 Comments
Marie Masyczek
2/22/2012 12:31:19 pm
In the article, gas prices are discussed. Gas prices's have risen significantly, almost to $4 and researchers say they will continue to rise until late April when prices's will be around an estimated $4.25 per gallon. The reasons for this rise vary, and the following examples are all contributors. There is a higher demand from developing nations because Iran raised their prices for oil by 11%, and summertime gasoline is harder to make, so the prices will automatically rise during the hotter months of the year. The US economy will see a rise in cost to about $35 billion, causing a possible hitch in the plans for following this recession. In terms of the 2012 presidential election, candidates are proposing the opening of federal land in terms of drilling for oil and gas to further plans of US energy independence. However, if the amount of cars on the road or amount people travel during summer does not decrease, I think it will be expected that prices for gasoline will rise to over $4 per gallon. Personally, this will mean that traveling will be limited and transportation will be on means of foot or bike.
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Monica Perez
2/23/2012 08:16:14 am
In the article, Gas prices are highest ever for this time of year, Chris Kahn, talks about how gas prices have been significantly rising. Experts say that if gas prices continue to rise at this rate they could reach up to $4.25 a gallon by late April. Some of the reasons why there has been an increase in gas prices is because of the tensions with Iran there is a higher demand from developing nations. The prices of fuel barrels have risen about 11%. And during the summertime we can expect the prices to rise even more. As for the U.S. economy the higher gas prices can hurt consumer spending, therefore diminishing the improvement the U.S. economy has recently seen. It would also cost the economy about $35 billion if a 25 cent increase is maintained over a year. This topic is an issue in this upcoming election, Newt Gingrich has talked about opening land for oil and gas and lowering gas prices. If we continue to see an increase, consumers will have to resort to riding public transportation, bikes or reducing the amount of driving. This will affect us, here in California, because coast states charge more on taxes making us spend more on gas. Ultimately it will make us be more resourceful with our budgets.
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Karla Ortiz
2/23/2012 10:33:49 am
In the artice, Gas prices are highest ever for this time of year, Chris Kahn talks on how gas prices are rising. Experts say that gas prices can reach up to $4.25 per gallon this April. Some of the reasons why the gas price is increaseing is because of the tensions with Iran, the rising demand in developing nations and because the prices for fuel barrels went up to 11%. Also gasoline can go up during summer time because it is expensive to make. With the increase in gas, the U.S. economy would rise to about $35 billion if a 25 cent increase is maintained. This is a problem for the upcoming elections because Newt Gingrich is talking about opening federal land for oil and also bringing gas prices down. If the gas prices keep increasing, we will have to use public transportation or we would have to walk or ride a bike to where we need to go. If this increase continues to happen, it will affect us because we would be limited on the amount of times we use our cars and also on how many times we go out during the summer.
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Sarah McClure
2/23/2012 10:40:40 am
In the article by Chris Kahn the price of gas is discussed. Gas is at an all time high for this time of year, and the price of gas will continue to significantly rise until late April reaching a staggering price of $4.25 a gallon. There are many reasons as to why the gas prices have been increasing. One reason is the demand from developing nations is higher than ever before and because gasoline during the summer months is more difficult to make the prices will go up anyways. Which in turn can promise us higher gas prices come summer time. With of the price of gas going up just 25-cent boost held constant for a year would put the economy out about $35 billion. Regarding the 2012 election coming up the topic of rising gas prices is an issue for Newt Gingrich since he had mentioned opening up land for oil and gas, along with wanting to lower gas prices, hoping to drill a path of US energy independence. Consumers with need to resort to another mode of transportation if the prices keep rising like they are. We need to be more careful with out budget and find other means of getting to where we need to be.
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Serafin Lopez
2/23/2012 11:12:21 am
In this article the high gas prices are being discussed. Gas prices are hitting an all time high of almost 4 dollars. Some people predict that the price of gasoline would reach 4.25 by the end of April which would be a new record beating the old when which was 4.11 in july of 2008. Reasons why this is happening is, because of the tension with Iran, Developing nations, and the fact that the price of a barrel of crude oil is around 119 dollars does not make anything better. As well as gasoline prices rise during the summer due to its high maintenance. Economists say due to the 25 cent spike in gas prices if it sustains for over a year the economy is looking at a 35 billion dollar cost. Newt Gingrich possible answer to this problem would allow more federal land drilling for oil and gas. All in all if the prices remain people will reserve to taking public transports, and riding bikes to work, or even possibly moving closer to their jobs to avoid a long distance drive. On a more personal level this most likely will help with budgeting out my plans in the near future.
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Alex Quirici
2/23/2012 11:14:51 am
In the article, gas prices are highest ever for this time of year, the topic concerning the rapid increase of gas prices is addressed. Gas prices have never reached where they are today this early in the year. Tension between Iran and other foreign countries has caused Iran to increase there oil prices by 11 percent. This is a major issue due to the fact that oil prices will deep on incresasing as we approach these warmer months when its more difficult to make gasoline. This will cause implications for the United States economy becasue people need to have gas in order to get to work and make a living. If people are forced to spend a large chunk of there income on gas, they wont spend money in businesses causing the economy to go deeper into depression. The rise in oil prices will play a big roll in the presidental election because voters want a canidate that is focused on lowering the price of gas in order to save the economy. The government, as mentioned in the article, could open up prized lands in order to dig for oil which would lower prices. Consumers can drive less, which will lower the demand for oil which in the end will lower the price of oil. For myself, i will still drive but try to make the most of my trips so i will spend less on gas.
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Monica Olguin
2/23/2012 03:00:50 pm
Gas prices have reached the highest price ever for this time of year. The prices have sky-rocketed due to the demand for oil in developing nations, and issues with Iran. Economists predict that the gas prices will increase by late April, setting the record of $4.25, the most expensive price since the recession in 2007. It’s unfortunate that gasoline costs more to make during the summer, which could result in even higher gas prices because the season will be raising the prices as well as the building tensions in Iran. This will obviously burden the United States economy, because people won’t want to keep driving to the places they have to get to daily. The people who simply cannot afford gasoline will have to use public transportation etc. However, those who absolutely must buy gas to transport themselves will have to stop spending their money in ways that they don’t need to. As a result, the economy will continue to fall because businesses will suffer as well as the people. People are most likely going to be enticed by Gingrich’s idea of opening more federal land to oil and gas. This is said to significantly lower gas prices, allow the retired community to travel, and workers can drive to work without the fear of outrageous gas prices. Consumers should not drive if they don’t have to, so that the demand for gas will decrease and eventually the prices will be lowered. If gas prices reach over $5 a gallon, I refuse to drive to work and I can take public transportation. As long as it stays under $5 per gallon I will still drive where I need to, but I will definitely be more aware about not driving when it’s unnecessary.
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Elena Perez
2/29/2012 07:02:10 am
According to the article by Chris Khan, this year gas prices have gone up more than ever therefore less people is driving and they are using bikes or other kinds of transportation.
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Jesus Reyes
3/1/2012 03:50:25 am
Well whats happeing is that Gas prices are getting higher which is not good for us the consumers, the reasons why the gas is more expensive is because Iran does not wanna sell Oil to the USA thats why gas is getting more expensive. Well what we can do is not use the car alot only for things that are really important as go to work, school, etc. For me this affects me because I live in Pope Valley and right now its expensive for me and my parents to come down and go to school and work, we spend more money on gas than other things thats why its a real problem for us right now, and who knows what will happen later on because supposedly gas should reach up to $4.25 by late April and we are in March and gas right now is about $4.55 or more, what will happen later? will the prices go up higher than how it is right now or everything will be back to normal?.
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