The Expansion Of Gas Prices In The United States

Submitted By softballmonkey26
Words: 434
Pages: 2

World History Final Essay

Many things in other nations affects us as a whole. Some have negative effects on the general population, like the rise of gas prices. Others have positive effects, like the expansion of global communications. Another positive effect is popular culture for example, music.

To begin with, the rise of gasoline prices actually has nothing to do with the companies setting the prices. In reality it depends on the supply of crude oil, the distribution network, and the value of the U.S. dollar. The supply of crude oil is produced and sold by the Oil Producing Exporting Countries or OPEC. This cartel of 12 countries in Africa, the Middle East, and South America use the loose quota system to determine how much is needed. Its decision about how much production, pricing, and distribution affect international oil-consequentially the price of gasoline. Anything that interrupts the flow of petroleum can cause gasoline prices to increase, such as natural disasters or political instability in major oil-producing countries like Iraq and Venezuela. Oil is traded in the World Market in U.S. dollars. When the value decreases in comparison to other countries major currencies, OPEC earns less per barrel of oil, to compensate, the price increases thereby gasoline prices increase.

The next is a positive effect, the expansion of global communication. With the advent of email allowing for fast and direct transfer of information and files, making business communication easier. Internet browsing on smart phones has amplified our ability to work from anywhere, and access to anyone 24 hours a day. There’s a continuous news cycle, so any hint of a scandal is revealed quickly across the World Wide Web, it presents a huge challenge…