Surge Is Unlikely for Prices of U.S. Essay

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Surge Is Unlikely for Prices of U.S. Gas," by Clifford Krauss (Krass, 2013). There were four main points of distinction embedded within the article. The first and arguable most important element within the article was in reference to the growing conflict in Syria. The article was written in late August when unrest in the Middle East was near its height. During this period, Americans were concerned with the subsequent rising oil prices that might occur due in part to the civil unrest occurring in Syria. The article first explains how gas prices are unlikely to increase due to a litany of factors. First, Syria is a very small oil exporter. It exports roughly 1% of the world's oil. As such, even if the entire country were to be engaged in war, the resulting damage in regards to oil exports would be minimal. Many pundits believe that the rippling effect of a Syrian unrest would have adverse consequences for the world's economy (Seale, 1987). This, at a time of tepid economic growth, would undermine much of the progress that is occurring in the worlds overall economy. Second, many developed countries are now becoming energy independent in regards to their overall activities. Electric vehicles, the discovery of natural gas, and alternative energy solutions are abated foreign dependency on oil. For example, the auto industry, which is heavily reliant on petroleum, based products in undergoing fundamental change.

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Electric vehicles have now entered the market at a blistering pace. Manufactures from Ford, to Tesla, are now mass producing alternative energy vehicles that perform very similar to their petroleum-based counterparts. In fact, many electric vehicles have larger fuel efficiencies, more durability, and are more environment al friendly than many, more established car lines. Although the infrastructure isn't yet available to support a wide adoption of electric vehicles, the future looks very promising (Kay, 1997). This ultimately reduces much of the developed world's dependency on foreign produced oil. Instead, alternative energy provides an adequate solution to consumer grievances.

The third major point of the article pertains to the high worldwide demand for petroleum-based products, even though, alternative energy solutions are available. Emerging markets, primarily those within the Asian region, still rely heavily on petroleum-based products which balances outs the price reducing activities of developed nations. This is due to the emerging middle class of developed nations. Many nations, particularly Brazil, Russia, India, and China, are beginning to embrace capitalism. As such, they are now more prone to develop systems that enhance the overall market economy. Petroleum is a natural progression for many of these economies as it is a cheap energy source. As such, as these economies grow, so too will their demand for petroleum-based products, which have become a cornerstone of their society.….....

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