Economic Terrorism
Running head: CURRENT GAS PRICES A FORM OF ECONOMIC TERRORISM?
Current Gas Prices a Form of Economic Terrorism?
Jason Rentscheler
University of Phoenix
Current Gas Prices a Form of Economic Terrorism?
“This morning, prompted by increasing concerns about terrorism, oil prices reached a record high, as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."” ~Jon Stewart(Stewart, 2008, 1)
Why are gas prices sky-rocketing? Is it really necessary for people in certain countries to be paying four dollars and more for a gallon of gasoline? Why is it that countries we consider to be the third world are only paying 12-30 cents for the same gallon of gasoline that we pay four dollars for. Is big oil receiving pressure from extremist factions to hurt the United States and many of its allies economically? Or are the oil companies’ greed putting this country into a economic recession?
Consumers at the pump are not the only ones suffering sticker shock. Military units fighting across the globe will see another hike in fuel costs next week, the second mid-year increase because of soaring oil prices. On July 1, the cost for refined fuel paid by troops will jump from $127.68 a barrel to $170.94 - an astounding 34% jump in just six months and more than double what they were paying three years ago. It is the second such increase in the current budget year, which ends Sept. 30. That means war fighting units, which purchase their fuel at a set price through the Defense Logistics Agency, will start paying $4.07 a gallon for...
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