Lack Of Economics In Oil
INTRODUCTION
There can hardly be a living sole in the industrialized world that is not aware of the rise and fall of gasoline prices. Especially, when the gasoline price increase is sudden and significant. The price of gasoline and other petroleum products is so pervasive in our lives and lifestyles that from the adolescent to the retiree, there is no greater price awareness for any commodity, product, or service than for gasoline. Yet in the past 28 years, of all the commodities, products, or services, none have experienced as much fluctuations, up and down, than gasoline. There is no other price for a commodity, product, or service that can affect or has affected everyone in the industrialized world as much as the price of gasoline.
The price of gasoline can cause recessions; it can cause economic prosperity; it can destroy companies and complete industries; or it can provide companies and complete industries with windfall profits. On the individual level, the price of......
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