...BUSINESS ECONOMICS ECON545 JULY 2013 SESSION CHAPTER 15 QUESTION 14. Everyone’s Gas Problem When we discuss fluctuating gas prices, we have multiple reasons why this may occur. To begin, the price of gas could rise and fall due to breaks in the distribution. An example of the breaks in distribution could be a hurricane in areas of supply or an up rise or political upheaval in an area like Libya. Second, we can look at how close you are to a particular area of the US that would be near oil production or proximity. Third would be competition. How many stations are supplying gas in a certain area or region? As we get closer to a city like Chicago, prices may increase because of higher taxes. “According to the EIA, every time you pay for a gallon of gas, you are not only paying for the price of crude oil (61% of cost), but also federal and state taxes (15%), refining costs and profits (15%) and distribution and marketing (10%).” This is a classic case of supply and demand in economics which relates to the chapters we have discussed. Upon reading about gas and crude oil, I have learned that there are different types of oil. Light/ sweet oil is in high demand because it takes less time to refine into gas which in turn results in faster production. The price of light oil is higher because the supply is low. Heavier/ sour crude oil takes less production and is more readily available in turn the price is low. “Chicago, like most big cities, is required by the federal Environmental...
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...adults and children. This has become a serious concern for the residence in this community because it raises their chances of getting the illnesses. U.S Government scientists have found for the first time chemicals contaminates in drinking water wells near natural gas drilling operations. It’s a major concern that gas-extraction technique is endangering the health of people who live close to drilling rigs. Gas drilling companies say that the gas drilling technique called hydraulic fracturing, or fracking is safe, but other opponents say it pollutes ground water with dangerous substances that cause the breakdown of red blood cells, lead to blood in the urine and feces, and can damage the kidneys, liver, spleen, and bone marrow. To me this is a major issue that the chemicals in the air and water are causing severe illnesses that need to be controlled and come to an ending. If everyone would come together as a team or like a family and work hard for what they believe in, the problem could be solved and the health issues could be controlled and resolved correctly. After further investigation on the reasoning or cause of this problem I have found good reasoning why this is happening to our community. I found out that this gas company knows of the risks to the people and continues to use malpractice. I found my reasoning by pushing myself...
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...that there is a problem in our little community that poses a serious problem for the health and safety of everybody living here. All around me, people ranging from children up to the elderly have been getting sick and everyone has been displaying the same symptoms. Therefore, I started to find out what might be causing this issue. The first thing I did was a survey in the neighborhood of who had symptoms and what the symptoms were. Additionally, I asked them when their symptoms started and what they were doing before the symptoms started. The survey allowed me to see how everyone’s illness connected as everyone displayed the same symptoms and it allowed me to narrow down the possible causes for the illnesses based on what people were doing before getting sick. The next thing I did was take my findings to an expert to see what could cause these symptoms. The expert was able to rule out infection, bacteria, viruses, and point to pollution as the cause for the illnesses. The next thing I did was get a research expert to test many variables of what might have been polluted such as the water, soil, or the plant life. The expert was able to determine that the soil, water, and plant life had all been polluted by gas. I did additional research to find out where the gas was coming from in order to pollute our community. By researching community blue prints and development plans I found out that there are gas lines running under our houses which have been slowly leaking gas over the years...
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...The government body controls the raw materials dictating different prices they feel to be just. The thought in a command economy is that it is better to have the nation’s government control the market instead of the people who would be only interested in personnel gain. If a crisis were to occur the command economy would be the fastest to respond to the threat. Since the government has controlling power over the goods any resource needed to fix the problem could be easily moved. With other economies it might take a while to get the necessary resources from the many different people controlling them. In a command economy the government also has the added power of offering incentives to workers that help with relief. For example a worker in a command economy could be offered better housing or pay incentives to help others. In terms of handling a crisis I believe that a socialist system would be the best prepared to handle the situation. In a socialist system the community works together and creates products that everyone needs. Everyone working in the community is working to better benefit the health of the society and the people living there. The trash man and lawyer both get paid the same amount of money because the view is that both jobs are equally important to the society. In a capitalist society products and goods are made to turn a profit. In a capitalist society there is a kind of competition going on between the different jobs that can be worked. Whatever the society needs...
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...process for PV Gas 5 Apply legal, regulatory and ethical considerations to the selection process 6 The mix of knowledge, skills and experience necessary for a team to fulfil its functions 8 Analyze dynamics within teams, stimulate and promote a team spirit which helps motivate and provides support to team members and also clarify expectations of relationships 9 Encourage team members to develop roles during their team assignments 11 Empower teams to develop their own ways of working independently and to rely on their own capabilities within pre-set boundaries 12 Conclusion 12 Reference 13 Introduction PETROVIETNAM, Petrovietnam Oil and Gas Group is a state-owned company. On August 29th 2006, the Prime Minister issued the Decision No. 199/QĐ-TTg accepting that PETROVIETNAM is the Holding Company-Petrovietnam Oil and Gas Group (short name is Petrovietnam Oil and Gas Group) with international transaction name is Petrovietnam, PVN for short. Petrovietnam - a strong economic corporation in Vietnam is known worldwide. This is the report to make the new process about recruitment new employees, staffs and how to work in team for PV Gas. Characteristics of the person requirements and inform potential applicants of PETROVIETNAM. The good engineers, staffs or managers are one of strategy which improves strength of company in business market. Those are some characteristics and skills of the person requirements in PV gas. * With...
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...Gasoline is one of the most widely used natural resources around the world. If gas prices were to rise the price of gas in Europe would be approximately five dollars a gallon, an all-time high. In America we would find ourselves in a difficult predicament because we use gas in our vehicles for transportation, to power our stoves for cooking, and to heat homes. Many people will eventually end up in poverty. A mass majority of Americans have to commute daily to get to their job. At five dollars a gallon Americans would be forced to find alternative transportation or change where they live relative to their jobs to save on commuting costs. Many cities whose economies rely on tourism would take a big hit with higher gas prices because people would rather save money by vacationing to a place closer to where they live. Not being able to drive at your own leisure will cause frustration to those who do not enjoy sitting in their home and enjoy traveling. Our number one source of energy for survival is food. When gas prices spike so does the price of food. Not only do we use gas to power our stoves and grills but farmers use it for their machinery and factories that process and deliver our food. Going out to dinner will be a lot more costly than it should be, it will cost extra money to commute across town and with less people willing to do that it will run many businesses into the ground. With jobs being thrown away left and right people will slowly end up in poverty. The first...
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...Raising South Carolina's gas taxes could be the economic solution that residents may not want but it will be the very thing that will improve the State's welfare but most importantly its roads. According to the Post and Courier, South Carolina's gas taxes have not been raised since 1987 during the Reagan/Bush administration, leaving the state with some of the most dangerous roads in the nation. If South Carolina raises its gas taxes, the government can begin to improve the unsafe roads in the state that will have a positive outcome for the consumer in the long run. Raising the gas taxes will not only help improve the roads but will also help the state's public transportation association commercially allowing for the economy to grow and fund...
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...together in order to investigate what could be causing this airborne illness. We have searched the web for an ample amount of time to see how we could determine the cause of the outbreak. In this article, we have provided a list of all the precautions we have taken as a community. We all have taken samples of water from our homes and had the local water company test the sample to see if there was any contamination that could cause an illness like this. According to the local water company, all results for the community were negative. Everyone in the community has had professional come inspect their home to determine if there was an infestation of unwanted critters or mold that could be flaring up allergies and causing us to get sick. The results to each home led to no critters or mold within the insulation. Everyone in our community has even went out and purchased our very own carbon monoxide detectors to see if just perhaps we may have a leak in our gas lines throughout the community. After extensive research and collaboration, we conducted a study to determine if carbon monoxide was the issue. The outcome from the study had remarkable...
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...natural gas from shale rock. The fracking fluid is then pushed and drilled down into the ground 10,000 ft. at high volumes of pressure then reaches the end of the well causing the shale rock to crack and the natural gas begins to flow into the well to the surface for use. This hydraulic fracturing idea is something that has been around for years. With much research the process has changed and become a new formation. Shale is a sedimentary rock that forms from silt and clay-size mineral like mud. The oil and natural gas migrated out of black shale rock upwards because of the low density that it has. Conventional reservoirs are deposits where the natural gas and oil flow through the pores of the rock in and up through the well. Marcellus Shale is 1 mile beneath our earths surface. It can be found in Ohio, Pennsylvania, and New York. Small amounts can be found in states nearby but Pennsylvania is the main supply for Ohio and New York. Thousands of wells are now being drilled in Pennsylvania a year and in the near future New York will follow suit but New York’s water supply isn't tested and makes the situation worse for their residence. Barnett, Fayettville, and Haynesville Shale are also beginning to boom. Hydraulic tracking produces about 300,000 barrels of gas a day but is it worth the harm to the environment, and safety and health hazards of the people? There are about 500,00 active wells in the U.S. that can provide us with natural gas. This natural...
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...further I discovered that out burst of illness is may be directly caused by pollution in our environment from a local gas company. The fact that the gas company has been allowed to practice such policies that enabled them to cause this type of effect on our environment and community. From my research I have learned that regulations have been put in place by the E.P.A.( Environmental Protection Agency) to reduce harmful air pollution from the oil and natural gas industry. Within this regulation there is a specific requirement to capture 95% of emissions or volatile organic compounds (VOC’s) from the gas plants. If my research is correct this regulation has clearly been violated in this instance. Some type of action must be taken in this matter before any more citizens are harmed. When researching this issue I made sure to address all possible causes of this outbreak of illnesses. Within my investigation I became aware that this issue it widespread because some gas companies show little to no concern for the effects pollution causes. This is appauling that this is such a huge problem and so little action is being taken to prevent this problem. I believe that such infractions on the E.P.A.’s guidelines should be punishable buy revoking these companies from causing such a huge environmental issues whether they be in areas by communities or not. These gas companies are releasing fumes and chemicals into our water and air that are directly effecting our citizens and causing...
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...The gasoline protest in Mexico is taking place in a few different ways. People are protesting in the plants the make the gasoline by not letting any of the gas leave the plants to go to the rest of the state. Also, heated protest continues in Mexico and along the border due to the increase in gas prices where people are grouped together sharing their anger of the situation. The people are using their voices, sharing their anger with the news, and are holding up the Mexican flag. News 12 encouraged people from Arizona not to go to Mexico due to the gas shortage due to increased prices. For example, one man from Arizona was stranded in Mexico because his car ran out of gas and the gas stations were not refueling. Some people have been crossing...
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...People with gambling addictions have problems, But it’s their own problems, They need to better manage their money, and not make everyone else feel bad for their mistakes. In stores and gas stations all around the united states there are machines just sitting there, filled with instant scratch off lotto tickets, All you do is put money in and pick the ticket you want. In gas stations where you have to ask the clerk to grab your ticket, have lower sales than the machines, The machines are convenient, you're not bothered by the person behind you, rushing you, so you're less obligated to buy tickets. I know this from personal experiences, I worked at a gas station, and a store with the easily accessible Lotto...
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...Everyone opinion about climate change is different, especially the methods to fight the changes .The articles, “Fight the climate change with diet change “ by a representative of the PETA organization and “It’s not enough to go vegetarian to fight climate change” by Richard Eckard, the Associate Professor and Director of Primary Industries Climate Challenges Centre possesses slightly different opinion about veganism. Both of them agree that Vegan diet can help to fight the climate change but the article by Richard Eckard believes that becoming vegan can’t really help much, so people should try to find more solutions to the problem, and Eckard thinks that even if people want to adopt veganism, not everyone could enjoy the option to choose as...
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...Greenhouse gases are a significant factor in global warming, a topic of great debate in America. A greenhouse gas, or GHG such as carbon dioxide, is a gas that is trapped in the atmosphere. They are key factors in the Greenhouse Effect, a warming process. Automobiles and transportation are one of the leading sources of GHG emissions following industrial production, both of which rely on the combustion of fossil fuels for power. Carbon dioxide is the main gas that is released from burning fossil fuels such as petroleum. The problem with gas emissions released by industrial production is hard to cap, however, the problem involving the amount of carbon emissions released can be significantly reduced by cutting back on the amount of individual driving. This is important because transportation is one factor in the warming process that we can control. Many assume that buying a hybrid is a solution to the warming problem. While this is helpful it is not a large enough solution to make a major impact. One way to help cut-backs significantly is to increase and expand on public transportation while making it more efficient and safer for the environment. This would result in fewer combustion vehicles on the road, and an overall reduction in GHG emission. There are a few different types of GHGs that are harmful to the atmosphere. The main greenhouse gases are carbon dioxide, methane, and nitrous oxide. The GHGs methane and nitrous oxide are not very relevant in the combustion...
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...Individual Paper- Gas Prices Petroleum gas affects many of us when it is constantly increasing and decreasing all the time. Over the past few years gas prices have varied from $3.11 a gallon to $3.97 a gallon. Petroleum gas prices do not just affect the companies that provide the product but affects the people of the United States. When gas prices increase it can cause many problems with people getting to where they need to go. Many people cannot afford the prices with jobs they have now, which causes them to miss days of work causing them to lose their jobs. Petroleum gas can affect many people even farmers when it comes time to take care of their crops causing many people not getting the products they need. When all these people cannot afford the prices of gas they tend to change how they are doing these things. For an example farmers not being able to process their crops can cause them to have to have smaller crops. This will lead other products from their crops to rise in prices when it goes to the stores. Market equilibrium in this case refers to a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers (Colander, 2010). The constant changes in gas prices will affect the product itself along with the market and equilibrium prices. When the price in gas increases the demand for the gas will lower due to the amount it takes to fill a person’s...
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