| As oil supplies become increasingly
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| | vehicle in a given year, has also
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| scarce and demand rises, oil prices are
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| | increased steadily over the last decade.
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| steadily increasing. Disruptions in the
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| | While industries in the US are becoming
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| supply chain may occur at oil wells,
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| | less reliant on oil and more
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| during transportation from wells to
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| | energy-efficient, increased consumer use
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| refineries, at refineries, or along the
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| | of oil offsets these
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| pipelines that transport oil to different
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| | advances.Historically, oil prices were
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| parts of the country. In 2005, some of
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| | affected largely by major political
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| the most powerful hurricanes in recent
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| | events and wars. Since 1983, crude oil
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| history passed through the Gulf of Mexico
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| | has been traded as a commodity on the
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| and hit the major oil refining regions of
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| | floor of the New York Mercantile Exchange
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| the Gulf coast. These events had a
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| | (NYMEX). Often volatile market forces
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| profound impact on oil prices across the
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| | are increasingly driving oil prices, and
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| United States that will be felt for some
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| | the earlier checks that could be
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| time to come.Alongside supply issues,
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| | instituted through governmental price
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| increased demand also plays a role in
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| | controls or production and refining
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| driving up oil prices. Demand for oil
| |
| | quantity caps are less powerful. The
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| varies, just like demand for any other
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| | stabilizing forces of controlled
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| commodity. Seasonal increases in oil
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| | production and supply no longer counter
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| consumption occur each winter. While
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| | the sudden swings in crude oil futures
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| recent data suggests that consumers are
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| | that violence in Nigeria, or war in Iraq,
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| buying fewer sport utility vehicles and
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| | may induce. As oil supplies continue to
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| trucks that consume large amounts of gas,
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| | dwindle, alternative fuels such as
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| these vehicles are still extremely
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| | compressed natural gas may help make up
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| popular. The number of vehicles per
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| | some of the shortfall in energy needs.
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| family, and average distances driven per
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|