THE HIGH PRICING OF GASOLINE

The High Pricing of Gasoline

The High Pricing of Gasoline

The Problem

In our world today, it seems that the oil companies are running the world. A U.S. citizen today pays the third of his paychecks into gasoline bills. The reason is simple: the United States consumes 19 million barrels of oil a day, 25 percent of the global supply, but we have less than 2 percent of the world's proved oil reserves (www.eia.gov).

The excess of demand over supply means that no amount of domestic drilling will reduce gas prices or provide enough to meet America's daily ...