Predict what gasoline prices will do in the next 10 years, and rationalize your prediction
What will be an ideal response?
It is unlikely that gasoline prices will decline in the next 10 years because we are likely to reach our maximum oil production and demand will continue to increase. Demand will soon exceed available supply, resulting in increased cost per gallon. Price per gallon of gasoline will soon equal what people in other countries pay. Prices will continue to increase as we reach and move beyond the Hubbert Peak.
One way for oil prices to drop would be if demand for oil dropped. This would require a major shift in how we travel and how far we travel. If more Americans could walk, bike, or use alternative methods to destinations, for example, some of the demand for gasoline would drop. If our cars were more fuel efficient—in the range of 100 miles per gallon—it might be possible for demand not to exceed the supply. This could result in lower gasoline costs or costs remaining level.
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a. true b. false
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A) Irredentism B) Ethnic cleansing C) Nationalism D) Jihad E) Centrifugalism
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Answer the following statement true (T) or false (F)