Krauss, Clifford. “Why Are Oil Prices so High and Will They Stay That Way?

The article talks about the increase of price for oil, any why they are going up along with if they will remain at high prices. Specifically; The main reasons for high oil prices are a high demand along with inflation which to our economy, makes gas prices about a dollar higher than last years. If the united states makes a deal to fix a nuclear agreement with Iran, there is hope to lower the cost of oil because the deal with Iran involves an increase production of oil.

As of right now, I am not too phased because aaia cannot drive, and the oil price increase does not affect me greatly, but I fear that the high oil prices can ruin our economy and drive inflation levels even higher if no action is taken. I also believe that this increase of oil prices will become a pressing issue that many more people will begin to fight for, and I don’t think we should focus on methods to increase the production of oil, but rather explore new alternative energy sources that can be as effective, and economically & environmentally friendly.

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