Gas Prices

The gas prices are constantly rising and this is creating a chaos all over the globe especially the USA as it remains the biggest consumers of gas even after the prise rice. We often wonder that who actually controls the gas price, and why are they not doing something about it when they have it under their control.

Well, the answer to who controls the gas price will be OPEC, the international organization.
And the reasons to why are they not doing something about it is that the high price is actually favouring them. The Organization of the Petroleum Exporting Countries (OPEC) is a group of twelve states made up of Iran, Iraq, Kuwait, Qatar, Saudi Arabia, the United Arab Emirates, Libya, Algeria, Nigeria, Angola, Venezuela and Ecuador. The organization has maintained its headquarters in Vienna since 1965, and hosts regular meetings among the oil ministers of its member states.

OPEC as we have recently seen simply cut their oil production.And though the supply is cut off the demand remains high.With limited supply they can sell the gas at a high price to maximise their profits.
So the answer to the question that who controls the gas prices along with the OPEC will also be the high demand which is caused by us fellow citizens.

If we ourselves reduce our demand and our consumption OPEC will no longer be able to cut off their supply any time they feel like it , and the prices which are right now sky high will be down once again.
For much of its 47 years of existence the Organization of the Petroleum Exporting Countries (OPEC) has been a cartel in name only and could not actually control prices but now it is OPEC who actually controls gas prices.

Now OPEC is the real cartel and that spells bad news for us.The only thing that our government can do is either convince or negotiate terms to lower the prices for the fuel that America imports from OPEC. Now that OPEC is the one who actually controls gas prices going green looks like a better option in these expensive times.The only setback is that it is more expensive to go green than it is to continue our usual energy-wasting habits.

The deal is that though OPEC is the one who controls gas prices we cant really help it because everyone works fro their own selfish interests.While its true that the enitre globe is suffering becuase of them it is also tru that it’s unlikely that in the near future they will increase their supply which will lead to lower prices.

So whoever be the reason, we have to do what we can. By reducing our car usage and by walking more we can limit our demand and consumption of gas to a limit at least, and if we are successful in doing this we will surely make a difference in the price rise of gas.