This paper will show the relationship between the supply, demand, and price changes as effected by recent events. Hurricane Katrina and the War in Iraq have left our gasoline infrastructure at such a point that it was almost crippled last week by Hurricane Katrina and the American economy is still feeling the effects of it. This paper will explain some of the reasons and effects behind this. Gasoline - The Supply, Demand, and Cost. "Supply …
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showed last 75 words of 730 total
…and there is an excessive demand such as the one caused by Hurricane Katrina then the prices of gasoline will rise. Hopefully it will not be long before refineries and ports in the Gulf of Mexico are restored to their full production, but is there a lesson that can be learned from this in that we may depend too much on oil or that it may be time to find alternatives to this resource (Webb, 2005).