Without doing any research, what background do you currently have on this issue?
What do you want to know about this issue?
Why did you choose this issue? Had it effected your life? Is it something you are passionate about? Explain.
The oil prices that have been decreasing in the United States are a direct result of an OPEC oil war that is being waged. Countries like Saudi Arabia have plenty of oil reserves that they can afford to keep the prices low by increasing production, this action is in direct response to the increased amount of fracking by U.S. companies. With the prices so low for oil, the fracking industry is becoming obsolete due to its high cost. Some nations in OPEC are worried that the increased production is also hurting their profits from exporting oil, but, the world's largest producer of oil, Saudi Arabia, is not concerned by the lower prices. This price was that is being waged on the United States by other oil rich nation is hurting our oil production industry, but helping consumers.
I want to know why countries like OPEC are continuing the drive the price of oil into the ground and if this economic war will become something that is more than that. I also want to know if the fracking industry can survive with gas prices so low.
I chose this issue because it directly effects my life, with the lowering of gas prices in the United States, it is great for the consumers, but it is hurting the fracking industry. I also chose this because I am interested in the topic of oil and how it commands our economy. I am also interested in seeing how gasp prices will change in the future.
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