Full Title: Cause & Effect: U.S. Gasoline Prices
Author(s): Andrew Holland & Nick Cunningham
Publisher(s): American Security Project
Publication Date: February 1, 2013
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This paper examines the causes of America’s soaring gasoline prices. The paper underscores that the price of gas is intimately interconnected with crude oil prices, which are set by global markets. The paper cautions that although America’s oil production has surged in recent years, it has not lowered gas prices.
Instead, our dependence on oil leaves us vulnerable to price swings due to geopolitical events around the world. America cannot look for short-term solutions to what is a clear long-term problem. America is critically dependent upon oil for its economic well-being and the only solutions are long-term methods to reduce the amount of oil we use across the country.