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Essay / Research Paper Abstract
This 3 page paper evaluates gas prices after it had dropped down to about two dollars per gallon in the autumn of 2006. This paper evaluates the trends. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA644gas.rtf
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notion of high gas prices as they are so much higher in Europe anyway, it is a significant economic issue in the United States. Why? It is something that had
affected car sales. People were trading in their SUVs for smaller vehicles that get better gas mileage. Therefore, this economic situation affected auto manufacturers, car salesmen, and the average
consumer as well. People who were living paycheck to paycheck were finding that it was difficult to afford the gas to get to work on a daily basis. Also, gas
prices were historically high. The rising gas prices represented a rise in the price of something utilized by almost all Americans. Therefore, it would have a significant effect on the
economy. This issue has been reported by the press a great deal. 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). Mann (2006) writes: " Despite an 11 percent fall in Floridas gas prices over the past month, some say that prices in a variety of
states are far lower than in Florida and suspect that oil companies are putting the squeeze on consumers here." The press has continually asked why there is a rise in
prices when the oil companies are making money. In some way, the media has exploited the issue. The fact that oil companies are profiting is not in dispute. The profits
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