Skip to comments.Former Shell Oil Chief Predicts $5 Gas by 2012
Posted on 12/28/2010 2:21:31 PM PST by Frantzie
Former Shell Oil Chief Predicts $5 Gas by 2012
Though hes no longer running one of the largest companies in the world, former President of Shell Oil John Hofmeister warns that the outlook for gas prices in the coming decade is not looking good:
Im predicting a worse outcome over the next two years, which takes us to 2012 with higher gasoline prices, uncertainty as to the future of hydrocarbons, more regulation on the hydrocarbon industry based upon who the administration is today
And what I fear the most is that by 2012 prices are so high that we have a backlash from the electorate and we go into reverse and we go back to a hydrocarbon only type of a future, maybe with some nuclear, instead of moving on in the 21st century.
Im predicting, based upon the moratorium in the Gulf of Mexico, up to a million barrels a day of US production gone because of the politics of freezing drilling in the Gulf.
(Excerpt) Read more at zerohedge.com ...
Barack Obama has said he’s okay with gas costing $4.50 and up a gallon. When it did this before the election, he expressed that he was concerned because it went up too quickly for people to adjust their lives around it.
I’m sure Ole Axelgrease is really excited about running the 012 campaign with 10% unemployment and $5 gas.
Of course. Why do you think they call it 'programming'?
The Mullah Fuhrer said he would bankrupt all the electric utilities using coal.
I guess he may not if there is no electricity the idiots cannot be brainwashed on the HD plasma idiot boxes. This is as bad as the USSR. No one in the media says anything bad about the Islmo Ober Fuhrer.
Incrementalism....the slow creep towards Socialism...does not like to have large jumps and spikes.
The frog must not become aware that it is being boiled.
The way the Feds have been printing money, I wouldn’t be surprised to see $10/gal.
I dumped it over a year ago. The whole thing is sick. No one says anything bad about him. He is a hell of a lot closer to Chavez and Mugabe than anyone dreamed but I expected it. It is like a reverse reality. If it wasn’t for a few radio hosts like Rush - most people would think everything is normal.
Idiots being lied to and brainwahsed in HD and soon to be in 3-D. It is hilarious that the fools pay $60 to a 100 a month for “programming.” I guess it is cheaper than scientology.
As the price of oil goes up, the Obamists make sure the additional moneys go overseas rather than work to keep that money here, exploiting domestic oil resources.
Your gasoline dollars will keep people employed abroad rather than putting people to work here, and you can thank the political elite in this country who are shills for OPEC.
Exactly where the libs and enviros want it to be, if not higher.
10, 5, 1,-5, -10
5 dollar gas
1 ex president
-5 Dims in the Senate
-10 Dims in the House
The plus side is a Texan named George Mitchell who perfected horizontal drilling. America now is the largest producer and resource of natural gas thanks to him. He may also save western europe from Russia and Islam. Poland will have enough nat gas for the next 200 years thanks to horizontal drilling. Germany maybe the next 100 years.
Maybe if we wake up we can take back America from the Saudis and their stooges in control here especially their puppets at the TV networks. I think the avg for gas is around $3.10 now and you can get a “gallon” of nat gas for $1.30. The conversions are not that expensive.
The other thing about energy production is it creates GREAT wealth, jobs and taxes. His bosses got rich of oil in Saudi Arabia. In the US - Rockefellers, Gettys, Hughes and others. Only his friends are allies are allowed to create wealth.
Yes, he lost me there.....
.....It sounds like he believes we should all drive electric golf carts.
That's so 21st century don't you know...
W O W Retirement is wonderful????? who would have thought??? Where is the media out cry???? oops GWB is no longer President and YES we miss him...
Every cloud has a silver lining.
The postive thing I see here is that the rif raff will get of the road and I can get to work quicker. I guess the DC-Metro will have to hire some Tokyo stuffers to help them out.
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