The economy is influenced by many factors that determine its surplus or deficit. Throughout the last several decades, we have seen the world’s dependency on Oil and Gas, (WHY CAPITALS?) which are among two of the most important resources, grow at a rapid rate. As the demand for oil and gas grows, it (UNCLER REFERENT. "DEMAND"?) continues to be a major contributor to the stability or instability, of both the larger economies such as the United States, Germany and Japan, and of the smaller third world nations around the world as well. Our economy gets seriously affected when gas and oil prices are on the rise. (ONLY OUR ECONOMY?)
Body:
The world, as a whole, depends greatly on Oil (NO CAP.) and gas as their main energy source. Our economy has continuously shown that it ("IS") seriously gets (DELETE "GETS".) affected when gas and oil prices are on the rise. Over the last several years, the price per barrel has set record highs and many economist (PLURAL) question whether the price per barrel will ever drop to the forty or even the fifty dollar range. According to the oil price information service, (IF THIS IS A SPECIFIC ORGANIZATION, ITS TITLE NEEDS TO BE CAPITALIZED.) supplies are still at a relatively good level, in spite of the growing demand for greater consumption (CAN DELETE THIS LAST PHRASE.). This demand has pushed the price of the gallon of gas in the United States from a comfortable amount of $2.09, to more than $3.115 (WHY THREE DECIMAL PLACES HERE?) a gallon, within the last several months. This price surge has been the highest since last year. Many analysts are in accord with the probability that it will reach $4.00 a gallon, (NO COMMA.) by summer’s end. The catalysts (ARE THEY REALLY CATALYSTS? SEE DEFINITION.) responsible for these sharp increases are directly related to the many disruptive current events that we hear in our news channels. Recent world events such as the war in Iraq, the instability in Nigeria, and the conflict between Chavez and Bush have all contributed to the barrel ("PRICE") of oil going up. This in itself has translated to an increase in gasoline prices. Since our entire economy is oil energy dependent, that has given rise in ('RAISED") the prices of both perishable and nonperishable goods, (NO COMMA.) that Americans purchase. The war in Iraq has also caused instability in the region and a decrease in production, coupled with an increase in demand from emerging nation (PLURAL) such as China and India. The Oil (NO CAP) rich country of Nigeria has also been dealing with internal political conflicts, which has brought about sabotage and chaos in its region. While it is dealing with these local problems, it to is unable to focus on maintaining a production level needed to keep the price per barrel of oil at an acceptable level.
USE NEW PARAGRAPH TO INDICATE CHANGE OF IDEAS, PLACES, TIMES OR PERSONS.
There are also conflicts of interests between Venezuelia’s president Hugo Chavez and the George Bush’s admistration. Constant quarrels between the two presidents may also fuel the price problems.
In addition, the falling American dollar, coupled with the United States credit woes in the secondary mortgage market and its ominous banking industry, the U.S. dollar’s purchasing power continues to get battered.
One of the greatest questions that has loomed over OPEC’s ability to keep the price of oil below an acceptable level, is whether or not OPEC will have the capacity to produce an average of 20 million barrels of crude oil, per day. It is no secret that OPEC has been known to submit false capable production numbers on several occasions. The international markets have on several occasions, questioned whether or not they are actually capable of meeting the required production levels, or are they simply in a position where they may not be able to sustain the needed production levels, to combat the increasing price of gas.
With these issues looming over our minds, the United States is now in a position where it must allocate a great amount of time and resources to curtail its dependency on foreign oil. Over the last several decades, it has been a focal point of discussion amongst the different administrations that have governed the United States. With the price of a barrel of oil surpassing the $110 mark, the need to put into action one of these plans is of utmost importance. By developing alternative sources of energy, we can place ourselves in a position where we can begin to promote a less costly energy.
One of the most talked about options is the drilling in the Artic National Wildlife Refuge, which is located in the northeast area of Alaska. Since the 1950’s, there has been a considerable talk about its role in minimizing our dependency on foreign oil, however, the cost of this exploration will likely result in an insurmountable cost, that will be measured not on a monetary level, but on the loss of animal species and the habitat where those species reside. Information gathered from the biological, seismic and geological studies were used to complete a Legislative Environmental Impact Statement (LEIS) that described the potential impacts of oil and gas production in these areas. The results found has supported the environmentalist claim, that drilling will result in irreparable looses (SP) to several species that are common to the serene habitat.
In addition, whether or not the areas have the necessary amounts of crude oil in the grounds has become a difficult question to answer. Although production has been going on in Alsaka, on the Naval Petroleum Reserve since the 1960’s, it is at a very bare minimum, and it is not likely to impede on the ramped (SP) price increases, that we are seeing.
Suppose the domestic production levels were actually sufficient to keep prices at bay, would our problems be resolved? The unfortunate answer to that questions is no, because during the early 1900’s, there were heavy tariffs imposed on domestic oil drilling. These tariffs were created to keep oil companies form drilling in these areas. During these early times, foreign oil dependency became that much more appealing, because there was never an tax imposed on the imports of foreign oil. It became cheaper and safer to import oil from other oil rich countries in the Middle East, Africa and South America. In essence, the good tariff tax that were levied some 60 years ago are now actually not so good, as far as making a strong argument to extract domestic crude oil today. Environmentalist, however, contend that it has kept our serene frontier less prone to species and terrain depletion.
Conclusion:
With so many different issues that we must contend with, to extract crude oil for our personal consumption, it is not difficult to understand why it is has always been a very complex issue that the world must deal with. ("RESOLVE" AVOID ENDING SENTENCE WITH A PREPOSITION.)There is no real definitive solution to this problem and as more problems come about, we are likely going to see this problem manifesting to major global problem.
In the future, if nobody is available to proofread your work, you can do this yourself. After writing your material, put it aside for a day — at least several hours. (This breaks mental sets you might have that keep you from noticing problems.) Then read it aloud as if you were reading someone else's work. (Reading aloud slows down your reading, so you are less likely to skip over problems.)
If your reading goes smoothly, that is fine. However, wherever you "stumble" in your reading, other persons are likely to have a problem in reading your material. Those "stumbles" indicate areas that need revising.
Once you have made your revisions, repeat the process above. Good papers often require many drafts.
Although this was only a cursory proofreading, I hope it helps. Thanks for asking.
(Please check my essay for me) thank you very much.
Subject: Oil and Gas Prices
Introduction:
The economy is influenced by many factors that determine its surplus or deficit. Throughout the last several decades, we have seen the world’s dependency on Oil and Gas, which are among two of the most important resources, grow at a rapid rate. As the demand for oil and gas grows, it continues to be a major contributor to the stability or instability, of both the larger economies such as the United States, Germany and Japan, and of the smaller third world nations around the world as well. Our economy gets seriously affected when gas and oil prices are on the rise.
Body:
The world, as a whole, depends greatly on Oil and gas as their main energy source. Our economy has continuously shown that it seriously gets affected when gas and oil prices are on the rise. Over the last several years, the price per barrel has set record highs and many economist question whether the price per barrel will ever drop to the forty or even the fifty dollar range. According to the oil price information service, supplies are still at a relatively good level, in spite of the growing demand for greater consumption. This demand has pushed the price of the gallon of gas in the United States from a comfortable amount of $2.09, to more than $3.115 a gallon, within the last several months. This price surge has been the highest since last year. Many analysts are in accord with the probability that it will reach $4.00 a gallon, by summer’s end. The catalysts responsible for these sharp increases are directly related to the many disruptive current events that we hear in our news channels. Recent world events such as the war in Iraq, the instability in Nigeria, and the conflict between Chavez and Bush have all contributed to the barrel of oil going up. This in itself has translated to an increase in gasoline prices. Since our entire economy is oil energy dependent, that has given rise in the prices of both perishable and nonperishable goods, that Americans purchase. The war in Iraq has also caused instability in the region and a decrease in production, coupled with an increase in demand from emerging nation such as China and India. The Oil rich country of Nigeria has also been dealing with internal political conflicts, which has brought about sabotage and chaos in its region. While it is dealing with these local problems, it to is unable to focus on maintaining a production level needed to keep the price per barrel of oil at an acceptable level. There are also conflicts of interests between Venezuelia’s president Hugo Chavez and the George Bush’s admistration. Constant quarrels between the two presidents may also fuel the price problems. In addition, the falling American dollar, coupled with the United States credit woes in the secondary mortgage market and its ominous banking industry, the U.S. dollar’s purchasing power continues to get battered.
One of the greatest questions that has loomed over OPEC’s ability to keep the price of oil below an acceptable level, is whether or not OPEC will have the capacity to produce an average of 20 million barrels of crude oil, per day. It is no secret that OPEC has been known to submit false capable production numbers on several occasions. The international markets have on several occasions, questioned whether or not they are actually capable of meeting the required production levels, or are they simply in a position where they may not be able to sustain the needed production levels, to combat the increasing price of gas. With these issues looming over our minds, the United States is now in a position where it must allocate a great amount of time and resources to curtail its dependency on foreign oil. Over the last several decades, it has been a focal point of discussion amongst the different administrations that have governed the United States. With the price of a barrel of oil surpassing the $110 mark, the need to put into action one of these plans is of utmost importance. By developing alternative sources of energy, we can place ourselves in a position where we can begin to promote a less costly energy. One of the most talked about options is the drilling in the Artic National Wildlife Refuge, which is located in the northeast area of Alaska. Since the 1950’s, there has been a considerable talk about its role in minimizing our dependency on foreign oil, however, the cost of this exploration will likely result in an insurmountable cost, that will be measured not on a monetary level, but on the loss of animal species and the habitat where those species reside. Information gathered from the biological, seismic and geological studies were used to complete a Legislative Environmental Impact Statement (LEIS) that described the potential impacts of oil and gas production in these areas. The results found has supported the environmentalist claim, that drilling will result in irreparable looses to several species that are common to the serene habitat. In addition, whether or not the areas have the necessary amounts of crude oil in the grounds has become a difficult question to answer. Although production has been going on in Alsaka, on the Naval Petroleum Reserve since the 1960’s, it is at a very bare minimum, and it is not likely to impede on the ramped price increases, that we are seeing.
Suppose the domestic production levels were actually sufficient to keep prices at bay, would our problems be resolved? The unfortunate answer to that questions is no, because during the early 1900’s, there were heavy tariffs imposed on domestic oil drilling. These tariffs were created to keep oil companies form drilling in these areas. During these early times, foreign oil dependency became that much more appealing, because there was never an tax imposed on the imports of foreign oil. It became cheaper and safer to import oil from other oil rich countries in the Middle East, Africa and South America. In essence, the good tariff tax that were levied some 60 years ago are now actually not so good, as far as making a strong argument to extract domestic crude oil today. Environmentalist, however, contend that it has kept our serene frontier less prone to species and terrain depletion.
Conclusion:
With so many different issues that we must contend with, to extract crude oil for our personal consumption, it is not difficult to understand why it is has always been a very complex issue that the world must deal with. There is no real definitive solution to this problem and as more problems come about, we are likely going to see this problem manifesting to major global problem.
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