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Essay / Research Paper Abstract
This 3 page paper answers the following questions: What economic factors cause gas prices to hover near $3 per gallon? Why are gas companies reaping obscene profits? What are your predictions for the future of gas prices in 2006? Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA639gas.rtf
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Unformatted sample text from the term paper:
the cost of refining the oil, distribution and marketing and the wholesale price of the oil itself (Bonsor & Grabianowski, 2006). First, it should be noted that the wholesale price
of gas rises and that affects retail pricing (Scherer, 2005). That is obvious. What is not so obvious is what is really driving the wholesale price. Many claim that the
high price is attributable to the war in the Middle East. Some also claim that the rise in gas prices is related to hedge funds and the moves of individual
investors (Scherer, 2005). It is possible that it is a combination of things and perhaps the named items are included, but many causes have been ruled out. However, ABC News
does attribute the rising prices to supply and demand ("Price determined," 2005). In some way, ABCs take has some validity, but it fails to explain how the steep rise in
the last few years occurred. It is hard to pin down one thing that has caused the prices to rise. At the same time, the answer does seem to be
a combination of things as already noted. PAGE 2. WHY ARE THE GAS COMPANIES REAPING OBSCENE PROFITS? One article points out that while oil prices are rising,
the oil companies are profiting a great deal (Noe, 2006). An article appearing on the ABC News website begins this way: " In October, ExxonMobil, the worlds largest publicly
traded oil company, announced net income of $9.9 billion for the most recent earnings quarter, eclipsing analyst expectations and dwarfing the $5.68 billion reported for the same quarter in 2004.
It was the largest quarterly profit ever for a U.S. company" (Noe, 2006). The fact that oil companies are profiting is not in dispute. The profits made seem to be
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