ECON300-Current Event #15

As many have begun to notice, gas prices have continued to rise almost daily it seems. While the general topic of discussion is on the current economic upturn and recovery, one thing that is not recovering is the cost of oil. The price of oil is continuing to rise. While domestic oil and gas production is the highest it’s been since 2003, there simply isn’t enough production to meet American demand. The question lies on how we will meet this ever-increasing demand—new energy sources? Increase domestic drilling? Imports? Everyone seems to have a different opinion; however, one thing is for sure: a solution needs to be developed as soon as possible
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