The Effects of Oil Prices on Our Nation’s Economy
Introduction
As one may have noticed in the past few years the price of oil has risen drastically. Either at the gas pump or at home in the winter with the heating bill the price of oil effects everyone.
The beginning of this paper discusses what OPEC is, what it does, and why it is good or bad. Also it will begin to discuss the price of oil in the global oil market but mostly in our nation’s economy: who, what, when, where, why, how.
The purpose of this research paper is to educate the reader on the effects of oil prices and how another oil crisis can be prevented like the one in 1973. That oil crisis quadrupled the price of oil, eliminated economic growth, double inflation rates, and launched many nations into urgent pursuit energy self-sufficiency (Shojal 27).
What should the price be on a barrel of oil? This question is asked a lot and does not always have a easy answer. Oil is a strategic and valuable......
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Approximate Word Count: 3668
Approximate Pages: 15 (260 words per double-spaced page) |