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Gas prices - Essay Example

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Problem: Gas Price In the recent centuries, man has developed such needs that have conventionally required massive consumption of natural resources. Ever since the evolution of industrialization, there has occurred an abrupt downfall in natural resource reserves almost all over the world…
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Gas prices
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Gas prices

A vast majority of machines in different industries are powered by gas. Apart from the industrial utility of gas, it is an extremely important element of the modern age life style. In the contemporary age, there is massive consumption of gas even on the domestic level. We use gas heaters, gas ovens, gas stoves, and gas lamps. In addition to the in-house consumption of gas, a vast majority of vehicles on the roads use gas as a secondary fuelling source that works as efficiently as petrol does. The voluminous increase in the use of natural gas does not accord with its declining natural reserves. There is an inverse relationship between the two. Gas prices have risen almost all over the world in the past few years. Much of the rapid increase in the gas prices that has occurred in the recent years can be attributed to the inverse relationship between gas production and consumption rate. Current rate of gas consumption is alarming, and gas prices are likely to increase further if the current consumption rates sustain over next few years. Solution: Solution of this problem lies in wise utilization of the remaining gas. It is not advisable to completely stop the use of gas stoves or gas ovens because no alternative has yet been realized that would give better or even the same results as gas stoves or ovens do. ... Read More
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