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