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This article indicates the US gas price has been going down. Through reading it, we can see that the demand has decreased and supply has increased. The reason I can give to explain this is because customer incomes went down, more people ride buses to their workplace or go there on foot, fewer people drive car than before. Therefore, the price of gas need to decrease and the quantity needed to be supplied more.

Scottish Power has announced a price rise in the gas and electricity bills by 7%. The firm has 2.3 million customers and the average yearly bill will increase to £1,271. The rise is said to be caused by an increase in costs for transporting gas and electricity. Other energy firms have also raised prices. The demand for the product, electricity and gas, is definitely inelastic in this case, since electricity and gas are necessities for the people. People will still need electricity regardless of how much price has increased. Demand will remain the same. All the energy firms are also raising costs, so the consumers have no substitutes. They have to endure to higher bills to come.

I found this article interesting because it shows us that demand and supply is not the only factor in determining gas prices. As we know, gas prices are on the rise. But this article tells us that it is not just demand and supply that causes this and that we need to take other factors into consideration.

i thought that this article was really interesting because before i actually thought that the oil companies raised the price of oil randomly just to make a profit but now i realise that there are many other reasons why they bring up the price, for example there economy.

This article talk about the price of a gallon of 95 octane will increase 22 cents to $4.54. The price of 91 octane will increase 20 cents to $4.16. Diesel prices will go up 15 cents to $4.08. I´ve found this article and I think that is related to our actual topic aggregate supply because an increase in the price of the natural gas will have an impact on all industries, as oil is widely used in a lot of production processes. This will lead to a shift of the aggregate supply curve because the factors of production will be more expensive and at higher level price the producer will reduce the total amount of goods and services

In this article the CEO of total says that the increase in oil prices is bad for the consumers all over the world. This increase in prices is because of an increased demand by the society today. However since oil cannot be produced quickly the production rate cannot keep up with the demand rate. Hence there is scarcity and more demand for oil. This increased demand is also the reason why oil prices are skyrocketing today,

Russian president Vladimir Putin has decided to impose protectionist policies to protect domestic markets. This decision came as a retaliatory tactic against other members of the WTO who Putin claims to be making international trade "hidden and subtle." In fact, the Russian president used the EU as an example as he claims that the EU's decision to split the gas companies and gas distribution companies are an attack on Russia's domestic suppliers.

Here we see a very recent announcement made by President Putin which has many other members of the WTO concerned, although it is stated explicitly that all the policies they plan to implement will be in line with WTO regulations.

In this article it explains why we, the consumer, are unable to influence gas prices. The article suggests 3 main reasons: 1) for oil companies it is more profitable to set a higher price and then let the price adjust to the demand. Simply, instead of letting the price adjust upwards, the price is set a higher level to let it adjust downwards. 2)The increasing price over the past two years has not created a drop in demand. Rather, the increasing price is accompanied by increasing demand. 3)For countries, the increase of price and demand are signs of prosperity, so a positive thing. This is an example of where it is hard to achiever a price equilibrium.

This article talks about how the Americans are copping with the increase in gasoline to 3.50$ a galon. It states that all around America in New York for example, where nearly everyone uses public transport, the public transport has increase by 5. Even in the south west where driving is strongest public transport has reached its maximim capacity during rush hours. It also states that the US in having problems with upgrading and even sustaining public transport as faires only cover 1/3 of the cost and rely on government funding. the article also says that most americans are now buying smaller cars and driving less agressively to save fuel. So what this article is telling us is that the American economy is using the XED principle where the price of petrol has risen and therefore the demand for it has dropped, even thought its very inelastic, and the demand for public transport has risem.

This article talk about the maximum price in New York and New Jersey after the sandy huracane. The government has set new laws in order to reduce the price for the neccessity products. However those laws are causing shortages in New York and New Jersey. Government-imposed price controls are making the disaster worse a week after Sandy hit shore. The producers can´t increase the prices for goods considered neccesarie for the consumers.The businesses aren´t allowed to raise their prices more than 10 percent within 30 days of a declared state of emergency. If the businesses increase above the maximum prices they will have to pay penalties. When there is a situation of scarcity (shortage) the people will try to buy the products in the black for a higher price. When high prices are prohibited from serving their function the result is a shortage where there are more buyers than sellers. Buyers still compete with other buyers to try to get the scarce gas, but because price competition is illegal their competition takes less beneficial forms.

It is interesting to note that economists put the blame of climate problems on economic market failure. One of the externalities responsible they say is the ' greenhouse gas negative externality'. it is considered a negative externality because the effects of the activities are not felt by the people who conduct these activities but by future generations. So a different party feels the effect which defines an externality.

Japan's trade deficit increases in October as increase in imports exceed increase in exports to the US and China. Over the past years, weakening yen has helped promote exports, but also increases the cost for imports. The increase in cost for imports, such as crude oil, helped widen trade deficit. This shows the relationship between the current account and the exchange rate. Japan is currently going through a balance trade of goods and services deficit. This results in downward pressure on the exchange rate of the currency as there is an increase in the supply of yen due to increase in imports.

This article focuses on the trade deficit of Japan. Japan's trade deficit nearly doubled in October, as growth in imports outpaced robust increases in exports to the U.S. and China, the Finance Ministry reported Wednesday. There are several factors that led to trade deficit. Firstly, the weakening of the yen over the past year had its significant impact on imports and exports. After meltdown of the nuclear power plant in 2011, Japan has faced loss of the generation capacity, therefore forcing Japan to import natural gas and oil. Overall, weakening in the Japanese yen over the past year has helped exports, but it has also increased the cost of imports.However, the exports are not as stable as they could be. Slowdown in economic growth of China has led to decrease in demand for Japanese exports.Overall the article talks about the details of the trade deficit of Japan.

Canada's trade deficit decreased for the past several months thanks to an increase in exports of energy products such as natural gas and bitumen. Furthermore, there have been increases in transportation equipment, mostly for aircraft exports. These increases in exports were met with decreases in imports as plastic/rubber products, chemical and aircrafts were lower. These factors allowed the Canadian trade deficit to decrease over these past few months.