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Cause and Effects on Todays Rising Gas Prices Natural gas is not a renewable resource since there is a fixed amount of it trapped in the Earth However many people carry the misconception that there is a very limited amount of natural gas and that we may use all of it up This isnt true The gas shortages of the 1970s were prompted by the governments lack of faith in the industrys ability to discover and develop new reserves not by lack of gas supply The unfortunate impression left by the shortages of gas in the 1970s is that there is little gas left to be discovered On the contrary the gas resource base is vast and probably even larger than currently estimated People are often confused by the difference in proved reserves those that could be economically produced with the current technology and the total natural gas resource base Natural Gas Week see note I am presenting an informal study on the cause and effects of todays rising gas prices There are two views as to the cause to these skyrocketing gas prices The newspaper articles and The Associated Press are linking the problems to the Organizational of Petroleum Exporting Countries OPEC cutting its crude oil production by roughly 8 percent last spring This statement is true but there is a reason behind OPECs decision to decrease production This reason ties into the second view as to the cause of rising gas prices As I had suspected all along the reason for the increase is a slowing in production that is directly linked to the changing industry and technological standards Theres a new kind of business in town and its name is electronic commerce e-commerce or e-business One of the basic fundamental principles of e-commerce is the just-in-time practice Proctor Gamble founded just-in-time practices As part
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