Essay suggestions needed?
I am preparing a expository essay on oil and gas prices. I have 4-5 topics that I feel contributed to the rise (Iraq, hurricane katrina, Persian gulf war) does anyone have any other suggestions that I could write about. I know I have enought to complete the essay but would like to add more. I never really followed the news so this is all new to me and the research is intresting.
- mountainmanLv 41 decade agoFavorite Answer
Wall Street played a big role in the increase in gas prices. Like most of the things you buy, oil prices are affected by supply and demand. However, oil prices are also affected by oil price futures, which are traded on the commodities futures exchange. These prices fluctuate daily, depending on what investors think the price of oil will be in the future.In the spring and summer of 2008, commodities traders drove up the price of oil, even though supply has increased and demand has fallen. The EIA pins part of the blame on volatility in Venezuela and Nigeria. It also cites an increased flow of investment money into commodities markets. In other words, money that used to be invested in real estate or the global stock markets is now being invested in oil futures. (short selling and speculative buying)
The media - hype about oil prices increases fluctuations in the market
The U.S. Congress is also to blame(legislation)
more oil is being used by China & India
Sorry actually Iraq, Katrina and the Persian Gulf War are not the main reasons for this years extreme rise in gas prices. They definitely influenced prior gas shortages. Now the question is - why is gas so much cheaper now than this summer??(Wall Street)