British Petroleum Group Presentation #6: Curt Kiebler, Joe Bond, Brittney Trich
Table of Table of Contents Joe Bond: History of BP What is Economics? Opportunity Cost Substitutions and Complements Brittney Trich: Curt Kiebler: Taxes Perfect Competition Substitution Effect Price Discrimination Cost Government’s Role Profit
Government sets regulations on keeping the air clean:
EPA (The Environmental Protection Agency)- Has the power to direct businesses to take specific actions. They have detailed control over what substances a business can release into the atmosphere or into the water.
EPA Reduce Toxins and Carbon Monoxide
Public utilities commissions – set the prices for gas.
The Government also sets limits on Transportation & Storage