ANSWERS: 3
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Market forces dictate prices, so to address the problem: * Increase the production of crude oil (Supply) However, it seems that the Organization of Petroleum Exporting Countries doesn't want to increase its production. and/or * Lower our consumption (Demand) I'm more in favor of this one. I think we should not be over-dependent on fossil fuels. We know very well that they are non-renewable resources. We should start looking for alternative sources of fuel, to lessen our dependence on fossil fuels.
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We need to release some of the oil reserves into the market in order to stem the increase and investigate the chicanery that has been going on amongst future traders in oil and other illegal market fixing tactics that has transpired on Wall Street and elsewhere. It might be necessary to charge major corporations with a winfall profits tax in order to subsidize the price of gas in order to make it more affordable for the average citizen.
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Blame OPEC - no one seems to be doing this. They control the PRODUCTION!!!!!!!!!!!!!!!!!!!!!!!!!!!!! People, OPEN A GOD DAMNED ECONOMICS BOOK AND LEARN SOMETHING!!!!!!!! The solution is to stop buying gas and oil.
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