Gone to the gas pumps lately? Gas has gone up to $3.26 a gallon. The crisis in the Middle East has caused oil prices to soar. The predicted gas prices will be five dollars a gallon by the end of the year. Libya has a lot to do with this. 95% of Libya’s income comes from exporting oil. lybia also produces 2% of the worlds oil. Due to the up roar and unrest with the government in Libya, many big companies are pulling out and leaving the oil there. This could cause the world to tap into its reserves. Cornelia Meyer, CEO and Chair Person of MRL.Corp, told CNN that we would be fine short term, but long term what would we do? We would have to find other countries to get our oil from. This would not be such a problem for America, but Europe. Libya mostly exports its oil to southern Europe and other places. I think we should cut back on gas. We should try and find an alternative for energy. This all seems so impossible because I have done the research and even oil at 100 dollars a barrel is less expensive to make than other energy alternatives. If the unrest grows in the Middle East energy prices around the world will increase. Hopefully everyone can come to agreements over this and things go back to peace in the Middle East, and our gas prices go back down at least to under three dollars a gallon.
I got all of my information from http://www.cnn.com/video/#/video/world/2011/02/27/levine.libya.oil.cnn
I got all of my information from http://www.cnn.com/video/#/video/world/2011/02/27/levine.libya.oil.cnn
If gas goes up to $5 a gallon I am going to have to start riding a bike to and from campus. That is just ridiculous. I think it's ridiculous right now with how high the prices are. If it gets up to $5 things are going to get a lot more scarier for a lot more people, money wise. It is crazy though how one little uprising can affect so many people. It all started with Egypt, now all these other little countries are starting to revolt and it is now starting to affect the United States.
ReplyDeleteGreat topic because gas is really taking up all of my money. I really enjoy your blog its simple and gets straight to the point. It has just enough to keep the readers interested. This article is very informational to all and the world. If gas prices keeps going up then that means no more shopping for us. lol
ReplyDeleteJust pray that Saudi Arabia don't start getting into massive riots like Egypt. I know this sounds crazy but I read from most gas companies that if Saudi Arabia goes under I'm not kidding you up to 8,9, or 10.00 a gallon. Great Britain is already suffering at their pump with that exact price. When it comes to oil, Saudi Arabia is our ally in the United States.
ReplyDeleteThis is something that needs to be addressed. Good Blog post. Because the gas is really killing my pockets, because i commute to school everyday. So i'm really feeling the hurt. I everything gets back to at least close to normal. Everyone let's get bicycles and not by gas anymore.
ReplyDeleteI hate gas being so expensive due to the crisis in the middle east oil prices have raised all over the world. The real issue goes to the third world countries that get to pay for gas as much as double or even triple the price compared to the U.S....
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