theres a reason for the soaring gas prices

So recently all I've been hearing about on the way to school in my mothers minivan is how rediculous gas is becming. It now costs $40.00 to fill up her gas tank, and she is less than thrilled about it. It just so happens that while reading the New York Times today, I may have learned why gas is becoming outrageously expensive. Recently, the chairman and cheif executive of Exxon, Lee R. Raymond, revealed his earnings from the past 13 years. $686 million, which is approximatley $144,573 a day. Now, I'm sure all $144,573 isnt going directly into Raymonds pockets, but it seems a little suspicious to me. Now, as a liscences driver, im very concious of gas prices, and now more than evern have noticed the 10-15 cents more per gallon at every Mobile station.

This is not the first time gas prices have soared this high though. began in earnest on October, 1973, when the members of Organization of Arab Petroleum Expoting Countries, announced that they would no longer ship oil to Israels supporters, as a result of the ongoing Yom Kippur War. As a result, the price of oil in the U.S. quadrupeled. The economic impact resulted quickly and harshly, with the entire economy suffering. The vaule of the dollar fell, adn daily oil consumption fell about 7% within about a year. Gas rationing, and restrictions on which days civillians were able to purchase gas were instilled. These laws were abolished in 1976. Starting in 1973, the U.S. has been looking for alternatives to oil. Electricity, and hydrogen have been two very respectable ideas, and we will undoubtedly see more investigation into this topic in the future.