? in 3-parts. Basically, why do your think the prices of gas is so high?

Question

1. Do you think it's because price "gouging"...greed is behind it?

or

2. Do you think it's because of a shortage in gas? (worldwide)

& finally

3. do you think our getting gas 'at home' will create lower prices? Why?

The first one from my previous ? that A this INTELLIGENTLY will get BA (& an extra 10 pts.) Otherwise, I'll just pick the B.A. of the whole bunch.

Answer 1

1 - of course.

2 - no.

3. no. the world relies too much on gasoline, and this is the outcome of that: they can charge whatever they please and we have no choice but to pay it, and/or find alternate means of travel.

Answer 2

1. No.  Economically, it would be virtually impossible to "gouge" on an industry wide scale.  It would take a level of collusion among the major oil companies that is not practicle in the modern marketplace.  However, since oil & gas are "commodities" that are traded on a futures market, what we are really paying for is profit for the commodities traders, not the oil companies.

2. Yes.  Emerging markets in Asia (China & India specifically) are increasing worldwide demand for oil faster than production can be increased, therefore driving up the price.  So technically, its not a shortage of oil & gas but a shortage of production capacity.

3. Not necessarily.  As stated above, gas & oil are commoditiesd traded on open exchanges.  Unless legislation were to prevent it, there is nothing to stop domestically produced oil & gas to be sold to an overseas interest if they were the highest biddder.  It is doubtful, that a domestic increase in production would be great eneough to offest the growing global demand.  At best it may act to slow increase in price, but would not be enough to reverse the currrent trend of incresing prices.

Answer 3

1. Yes, greed and power,     2. No      3.Possibily,because 'alternative' energy makes us less dependant on the few trying to scam/rip-off the rest of the world.

Answer 4

i dont like the high price of gas but lets be realistic--the price of gas is tied to the price of oil and oil is at an all time high and the demand grows and grows--i dont think there is price gouging but mabe excess profits due to the amount sold.  they dont just sell in u.s.a. they sell evrywhere i think the price of gas in england is bout $8 etc.  we havent built a refinery in 30 years--if we get more oil will we be able to refine it?---to answer your #3 the price of gas is tied to the price of oil--gas as you know is made from oil---if we produce more oil in this country i think it will help but that will take some time--probably 3 to 5 years-mabe more--who really knows  i also dont like that the price of a gal of milk is $4 or more