Economics On The Fuel Economy - 1375 Words

I have researched the economics on the fuel economy in the United States. Supply and demand are key topics that will be touched dealing with the fuel economy. Since there has been an increase and decrease in price, I will further investigate the reasoning for this. Also, I will examine the overall number economic impacts relating to oil spills and the overall oil producing economy. The United States economy is highly dependent upon fuel. Fuel is a major source that come from fossil fuels from all around the world. Fossil fuels are used to fuel cars and airplanes, power electricity plants, and heat our homes. So this lies around the question, where does fuel come from? There are 3 forms of fuel, coal, oil, and natural gas. Coal is found in many of the lower 48 states of United States and throughout the rest of the world. Oil and natural gas is located under porous rock deep within the earth’s surface. Oil was formed millions of years ago. It is mined from the ground and is not as easy to find as coal. There is also as a higher demand of fossil fuels. Due to the high demand, oil is transported by pipelines and trains from around the world. In the Middle East, there are new discoveries of natural gas that is also known as Methane. After the process of crude oil has been refined into gasoline or other products, they are then distributed to the consumer. The gasoline is transported through pipelines, which then, delivery trucks are able to get the gasoline from the storageShow MoreRelatedCurrency Devaluation And Fuel Subsidy Removal1185 Words   |  5 PagesCurrency devaluation and fuel subsidy removal are policies that are phenomena to the Nigerian economic environment. This research study identifies that the implementation of the policies has further caused more challenges in the pursuit for economic development than remedy to alleviate the crisis. 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