Speech 1 informative Gas

Topics: Petroleum, Peak oil, Gasoline Pages: 6 (1096 words) Published: February 22, 2015
Format of Sentence Outline

Speech Type: Informative

Gas Prices
I. Introduction
a. Attention Getter- I’ve been a bit happier lately and if I had to bet, I’d say you guys have been too. Now, there’s probably many different reasons why each one of you are happier but I think there’s one thing we can all agree on…we’ve all had a little more spending money at the end of week these past few months. As PBSC students, we are all well aware of commuting so I’m sure you’ve had to pump some gas recently and like me, have let out a small sigh of relief upon filling up. b. Introduce Topic/State Thesis Statement- Gas hasn’t been this cheap in over half a decade. The national average for regular gas this week was at $2.10 compared to $3.35 a year ago, according to the U.S Energy Information Administration. That’s down 38%, over a whole dollar cheaper per gallon in less than a year. So why is this? Not that I am complaining, like I said earlier, I’m happier, my wallet is happier but why? I will go in greater detail to why gas prices have gone down so much but in short, like every business, its supply and demand. I will explain why and how this affects us as consumers and how the drop is having affects worldwide. c. Establish Credibility (Ethos)- Now, by no means, am I an expert in the field but as someone who has experienced the bad and now the good when it comes to gas prices, curiosity has had me complete extensive research on this topic, in which now I feel confident in informing you on my findings. d. Preview Main Points- So next time you are at the gas station and you notice gas prices around the 2 dollar mark you’ll understand: 1. Why prices have actually dropped

2. How this affects us as American consumers
3. How this has an affect globally
II. Body
a. First Point- When it comes to prices, supply and demand always dictates the changes we see in the market. i. Subpoint- As prices of crude oil soared in the early to mid-2000s, it became clear that the United States had to start producing and drilling more and more of their own oil, especially in hard to extract areas like North Dakota. There wasn’t enough oil production to keep up with the global growth, so the demand was high and the supply was low, this caused the high prices 1. Since 2004, the United States has produced an extra 3.1 million barrels of oil per day. This was off set for a long time with tensions in the middle east slowing production but in the middle of 2014, these conflicts in the east weren’t as much as a concern and slowly the supply has continued to grow. According to Brad Plumer, senior editor at Vox, the Asia and Europe markets, specifically China and Germany have slowed down demand. That combination of weaker-than-expected demand and steadily rising supply caused oil prices to start dropping from their June peak of $115 per barrel down to around $80 per barrel by mid-November to around $50 currently. So will slower global economies not consuming as much oil and the supply still there, we now have seen these prices drop. b. Second Point- Now that we know why prices have fallen, as consumers, we should understand the effects this has on us in America. i. Subpoint- This might seem obvious but we have more money in our pockets. According to an estimate prepared for The Wall Street Journal by ClearView Energy Partner, “If crude-oil prices remain at $50 a barrel, it would result in per capita savings of roughly $575—or nearly $1,325 per U.S. household—on gas over the coming year relative to last year’s spending”. Almost an extra $600 is lot of money and its money we can put back in to our economy. ii. In depth analysis- Earlier I mentioned that the average for gas is over a dollar lower. Brett Ryan, U.S. economist at Deutsche Bank says that for “Every one-cent drop in gas prices [it] means a $1 billion annual decline in energy spending by Americans iii. According to date from the Federal Reserve, credit card balances declined at a...

Cited: "As Gasoline Heads Toward $2, the Benefits Start to Trickle Down." WSJ. N.p., n.d. Web. 04 Feb. 2015.
Krauss, Clifford. "Oil Prices Fall to Lowest Since 2009." New York Times 13 Jan. 2015: B1(L). Academic OneFile. Web. 3 Feb. 2015
Krauss, Clifford. "Oil Prices: What Is Behind the Drop? Simple Economics." New York Times 13 Jan. 2015: B4(L). Academic OneFile. Web. 3 Feb. 2015
"Why Oil Prices Keep Falling - and Throwing the World into Turmoil." Vox. N.p., 23 Jan. 2015. Web. 03 Feb. 2015.
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