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Owing to the insufficient gas supply in the United States, the gas price has dramatically risen. The new gas price reality and the policy decisions it may trigger will undoubtedly lead to critical financial implications for some individuals or companies, but the situation can hardly be termed a "national crisis" or even a "shortage". What is true is that buyers--particularly those in the chemical industry and in independent power generation -will not be able to acquire the quantity of gas they wish at the prices they wish to pay, or even at prices that will allow them to remain competitive in their markets, particularly during peak demand seasons.
Over the next year or two, the result will be higher, and more volatile prices, to be sure, but there are market-driven adjustment mechanisms even in the short term, e.g., more electric power from coal and oil, reduced production of domestic chemicals, and a commensurate substitution of
A. The gas prices will become steady in the next year or two.
B. In a short period, the problem will be solved by the electricity produced by coal and oil.
C. There won't be an economic recession even though the present situation is unfavorable.
D. Many American families will be freezing because they can't afford the gas with such a high price.
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