Current Events & Trends: How high could gas prices rise?
Nations can and do use oil as a weapon.
The head of Iran's state oil company said Sunday that the price of crude will reach $120 to $150 per barrel, as officials in Tehran prepare to discuss a ban on crude sales to European Union countries in retaliation for an EU embargo . . . [Iran] says the embargo will hurt the West more than Iran, in part by causing a spike in prices" ("Iran Oil Official Says Crude Could Reach $120 to $150 Per Barrel, Downplays EU Embargo," The Washington Post, Jan. 29, 2012).
Currently, the lowest price of gas in the United States is around $3.00 per gallon, far lower than in most of the rest of the world. Could $4.00 a gallon—or even higher—become the new U.S. norm?
Nations can and do use oil as a weapon. If oil sold for $150 a barrel, the price of gas would jump to about $4.30 per gallon. How many can afford to fill their tanks at that price? And how would this affect the price of everything else—including essential foods and basic needs—that must be transported by vehicles also burning higher-priced fuel?
Much of the world is already skirting the edge of the abyss financially. More economic disruption could lead to increasing international conflicts and the rise of dictatorships not unlike what preceded World War II.
An Article from:
Good News Magazine: March - April 2012
Course Content
Jerold Aust
Jerold Aust has served in the ministry for 52 years, as a public speaker for 58 years, a published writer for 38 years, and is employed by UCG’s Media and Communications Services. He is a Senior Writer, interviewer, and editor for Beyond Today Magazine and has taught Speech Communication for UCG’s ministerial online program and the Book of Revelation for ABC.
Jerold holds a BA in theology from Ambassador College, Pasadena (1968), an MA in Communication from California State University, Fullerton (1995), a distance-learning Ph.D (2006), and a Famous Writers School diploma in non-fiction writing (1973). Additionally, he studied post-grad communication at University of Southern California (1995), radio, TV, voice-overs, and Public Relations at Fullerton College (1995-1996), and graduate communication at Wichita State University (1978). Jerold has taught communication at the University of South Alabama (7 years) and ABC (17 years). His published works include, Ronald Reagan’s Rhetoric: Metaphor as Persuasion and EZSpeakers: Public Speaking Made Easy in 7 Steps. Jerold's overarching goal is to share with humankind its incredible destiny!
John Ross Schroeder
John died on March 8, 2014, in Oxford, England, four days after suffering cardiac arrest while returning home from a press event in London. John was 77 and still going strong.
Some of John's work for The Good News appeared under his byline, but much didn't. He wrote more than a thousand articles over the years, but also wrote the Questions and Answers section of the magazine, compiled our Letters From Our Readers, and wrote many of the items in the Current Events and Trends section. He also contributed greatly to a number of our study guides and Bible Study Course lessons. His writing has touched the lives of literally millions of people over the years.
John traveled widely over the years as an accredited journalist, especially in Europe. His knowledge of European and Middle East history added a great deal to his articles on history and Bible prophecy.
In his later years he also pastored congregations in Northern Ireland and East Sussex, and that experience added another dimension to his writing. He and his wife Jan were an effective team in our British Isles office near their home.
John was a humble servant who dedicated his life to sharing the gospel—the good news—of Jesus Christ and the Kingdom of God to all the world, and his work was known to readers in nearly every country of the world.
