Microeconomic policy

MyDropBox Detailed Report MyDropBox Originality Report Need help with the updated report look ? Click here Close Information Student Name Sheena Pimentel Class ENG10 Save report to disk :Student Email robertdadios gmail .com Submission 0 Print version :Title Microeconomic policy .doc Submitted 2007-10-25 11 :45 :05 EST Matching

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ID 763929 Suspected Sources http /anthonyforgione .blogspot .com

http /www .amazon .com /s ?ie UTF8 keywords Law 20 26 20Society 20Review index blended page 1

http /bookshop .blackwell .co .uk

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http /www .amazon .com /York-State-Corporation-Regulations-January /dp

http /www .theoildrum .com /node /2622

http /www .businessweek .com /bwdaily /dnflash /content /jun2007 /db_769679 .htm ?chan top news_top

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Microeconomic Policy Economic Gas Outlay : Why Gas Prices Will Stay High [Insert name of student] [Insert name of institution] [Insert date of submission] Article summary The article identifies the major reasons why oil prices have become high and will remain high . Lynn Westfall , chief economist for Tesoro (TSO , suggests that the increase in the cost of crude per barrel leads to an increase in the prices of gasoline . The chief economist also suggests that the cost of investment for a new refinery would be at least 16 billion and would depend on several factors like pollution control , the cost of human labor , and the maintenance cost for the refineries . Moreover , the huge increase in global consumption levels has led to an increase in consumer demand and a lengthy process of extracting and refining of crude oil . In essence , the article conveys that the pending situation of high gasoline prices will not be resolved overnight and that the existing social conditions - especially the presence of legal sanctions and proscriptions - will suppress the possibility of maintaining the status quo or of lowering today 's dizzying oil prices . Primary Economic Elements Mechanical enthusiasm scaling from simple lawn mowers to complex factory engines , as well as the trend for travelling and other interests of the like has thoroughly mounted the demand for gas . Given with such instances , the production of gas has been failing to meet that demand , so the anticipated and foreseeable price ceiling is not able to reach the ideal ' economic state of equilibrium . According to the analysis discussed in the article , it is evident that the catastrophically-triggered instances in the past few years have gravely affected the circulation of natural resources and minerals . The statement given by the chief of Tesoro Corporation (a company engaging in marketing and refining petroleum products in the United States ) that the rapid increase of gas prices , ranging from a shoot up of over 3 .20 /gallon , commenced the problem which is now taking occurrence in the arena of gas production . Moreover , the fact that consumers have spent approximately 20 billion in this year alone , making the parallel cost of crude somewhere between 30 and 70 , is a manifestation that production has depleted at the rate of 2 .5 refineries every two years . Because of the disproportionate...