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