Buy custom Supply, Demand, and Price
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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 978 |
Essay's paper body
Williams, WTRG Economics. These are the countries that produce and control most of the world's crude oil. In 1971 it was different Texas, Oklahoma, and Louisiana were pretty much in control of Oil prices and were allowed to produce all the oil that they could, because turmoil in the middle east what with Iraq trying to invade Iran and the Arab countries boycotted any country that supported Jerusalem...
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Now the price of a barrel of oil will cost anywhere from $52 to $57. These barrel prices equates to approximately $2.30 per gallon on average across the United States.
Cost of the price of oil is not only the result of OPEC. The U.S. Government with their taxation policy add 19% to the price per gallon at the retail pumps...
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General points of the essay
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