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Ex Shell president sees $5 gas in 2012
CNN/Money ^ | 12/27/10 | Laurie Segall

Posted on 12/27/2010 1:40:03 PM PST by Nachum

New York - The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012. In an interview with Platt's Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases. "I'm predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices," he said.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: 2011predictions; bhoenergy; drill; energy; gas; gasprices; johnhofmeister; moratorium; oil; president; shell
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Obamanomics
1 posted on 12/27/2010 1:40:06 PM PST by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 12/27/2010 1:40:42 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Prepare for death in the streets then.

Anything more than $4/gallon will set the population off, IMHO.


3 posted on 12/27/2010 1:41:46 PM PST by GOPsterinMA (RomneyCare is Mitt`s Chappaquiddick)
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To: Nachum

If this is the case, how does the U.S. economy NOT go into a deep recession?


4 posted on 12/27/2010 1:41:59 PM PST by Fury
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To: Nachum

That will certainly be a millstone around Baraq’s neck come election time. To me it’s a classic case of chickens coming home to roost, because this is exactly what liberals want to force us out of private cars, but are too gutless too pass taxes to accomplish overtly.

Of course to the MSM it will be all due to greedy big oil.


5 posted on 12/27/2010 1:43:56 PM PST by nascarnation
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To: Nachum
Hoax and Chains


(stolen from another FreepeR who's name I forget)

6 posted on 12/27/2010 1:44:09 PM PST by knarf (Who's Holi ? - Christ I know, you obviously don't - let me tell you about him - Romans 10:13)
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To: Nachum

You cannot attack, demonize and hamper the domestic oil industry and not have high gas prices.


7 posted on 12/27/2010 1:45:26 PM PST by reaganator
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To: GOPsterinMA
Anything more than $4/gallon will set the population off, IMHO. Probably going to be more gas theft. Unfortunately for gas stealers in these parts, it's likely to get you staring into the business end of a long rifle or shotgun if you're caught by some of the local folks.
8 posted on 12/27/2010 1:46:11 PM PST by Fury
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To: nascarnation
Of course to the MSM it will be all due to greedy big oil.

And the subsequent calls to nationalize it.

9 posted on 12/27/2010 1:47:01 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Good, Obama and the rest of the Dems will be removed from office/fail of re-election over this (as, partially, the Republicans were in 2006 and 2008).

In the meantime, I’ll be running my motorcycle and getting a diesel truck to run on waste vegetable oil. Don’t know what all those people in blue states will be doing - probably starving as they can’t afford to go to work. Couldn’t care less at this point.


10 posted on 12/27/2010 1:47:01 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: nascarnation
They will never be able to pull that one off.

Too much anti-drill/refine regulation from zero and his admin.

America has in the past been asleep, but we're awake now, aware and more are getting pissed off each day.

I have a local EXXON charging 3.25.9 .. I see no line to buy gas.

I go in town for 3.09

11 posted on 12/27/2010 1:48:22 PM PST by knarf (Who's Holi ? - Christ I know, you obviously don't - let me tell you about him - Romans 10:13)
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To: Nachum

Inflation -the cruelest tax of all!

Along with ‘Katie, bar the door’ fuel prices, expect all other commodity costs to increase.
When we had $4 gas, we also had $7 corn! Ag round tables say we can see $8-$9 corn and 16-18 dollar beans.

When the value of the dollar drops due to QE, what did you expect to happen?
Now, excuse me while I go to increase my fuel surcharge...


12 posted on 12/27/2010 1:50:29 PM PST by griswold3 (Employment is off-shored, away from govt. regulations, price pressure groups, and liabilities.)
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To: GOPsterinMA

Prepare for death in the streets then.

Anything more than $4/gallon will set the population off, IMHO.

They said that about $2.00 a gallon gas

and $3.00

and $4.00


13 posted on 12/27/2010 1:50:31 PM PST by libertybell
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To: Nachum
Simply mind-boggling....considering that California sits over the Monterey Shale and estimates approach 300 billion barrels in place.
14 posted on 12/27/2010 1:50:38 PM PST by stboz
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To: Nachum

That will play right into Sarah Palin’s hands.


15 posted on 12/27/2010 1:51:01 PM PST by Vinnie
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Comment #16 Removed by Moderator

To: Nachum

Can you imagine how loudly the press would be screaming if Bush was in the White House? As it is, nobody would even know about this if they didn’t have to pay their oil bills or gas up their cars.


17 posted on 12/27/2010 1:51:16 PM PST by Cicero (Marcus Tullius)
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To: Nachum

And a few Freepers made fun of me for riding a bike, owning a moped and driving a Geo Metro....


18 posted on 12/27/2010 1:51:22 PM PST by NorthStarStateConservative (I'm just another disabled naturalized minority vegan pro life conservative.)
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To: Nachum

Mike Jackson (formerly Michale Jackson) of Carmax has been pushing for $5 a gallon gasoline for years.

This is just aristocrats (though jackson is more midlevel aristocrat) pushing to control serfs.


19 posted on 12/27/2010 1:52:18 PM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: griswold3

“Ag round tables say we can see $8-$9 corn and 16-18 dollar beans.”

Thanks to the greedy farmers.


20 posted on 12/27/2010 1:53:16 PM PST by libertybell
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To: libertybell

see frog stew....


21 posted on 12/27/2010 1:53:22 PM PST by griswold3 (Employment is off-shored, away from govt. regulations, price pressure groups, and liabilities.)
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To: Nachum

Sounds about right actually.

Cold Winter bringing up demand.

Absolute refusal by administration to allow drilling.

Speculators with nothing else to do with their money speculating on energy.

Government that endorses any and all reasons to shove it up America’s butt.

$5.00 sounds reasonable to me, when you look at the reason’s I have stated.. We will be Lucky if we can get it.

Should do wonders for the economy, but as long as Golf carts run on electricity, Obama wont care.


22 posted on 12/27/2010 1:54:20 PM PST by Venturer
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To: Nachum

I say bring it on!

Its just more fearmongering.


23 posted on 12/27/2010 1:54:25 PM PST by Eye of Unk (If your enemy is quick to anger, seek to irritate him. Sun Tzu, The Art of War.)
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To: nascarnation

No. It’s greedy OPEC and greedy Saudi Arabia. The oil companies don’t set the barrel price. Neither does a cartel-ized marketplace. The sooner we take out the Middle Eastern caliphates that continue to hold the U.S. hostage to insane oil prices, instead of bowing down to them, selling them our best fighter aircraft, and pretending they are our allies, the better off we will be.


24 posted on 12/27/2010 1:55:07 PM PST by 4Runner
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To: Nachum

This is nuts! Real Americans will never stand for this. Even the dem-o-nuts will abandon their beloved ZERO if this happens.


25 posted on 12/27/2010 1:58:13 PM PST by New Jersey Realist (Congress doesn't care a damn about "we the people")
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To: GOPsterinMA

“Anything more than $4/gallon will set the population off, IMHO.”

Maybe I’m seeing black helicopters, I don’t know. But it just seems like it’s one more thing to try and restrict travel. The government is trying (or with this new law actually already has) to get control of the food supply. They’ve got control of the health care system, they’re grabbing control of the internet etc.etc.. Is it me?


26 posted on 12/27/2010 1:58:53 PM PST by Stormdog (A rifle transforms one from subject to Citizen)
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To: libertybell

You’re joking, right?
Cause if fuel goes up to $4, other prices have to increase to offset the input costs rising.
Greed is another matter altogether.


27 posted on 12/27/2010 2:00:31 PM PST by griswold3 (Employment is off-shored, away from govt. regulations, price pressure groups, and liabilities.)
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To: Nachum

Barry is doing cartwheels over this happy news.


28 posted on 12/27/2010 2:01:03 PM PST by JPG (There is hope for America and her name is Sarah.)
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To: Nachum
Locally the price of Gas jumped 17 cents overnight. It went from $3.02 last night to $3.19 this morning.
29 posted on 12/27/2010 2:01:17 PM PST by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: Nachum

Well, yeah!

The constant debasement of our dollar means that all imported goods cost more. And thanks to our glorious government, most of our oil is imported.

Now, if you measure the value of oil against the value of gold, you’d see a different story.


30 posted on 12/27/2010 2:02:27 PM PST by gogogodzilla (Live free or die!)
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To: GOPsterinMA

All the while, Hussein Obama and the RATS prohibits drilling off shore in the U.S. —


31 posted on 12/27/2010 2:02:34 PM PST by Mr. Wright
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To: Nachum

When that happens guess what? All those local/state/federal gas taxes will drop like the proverbial stone. Lets see how loud they yell over that.


32 posted on 12/27/2010 2:02:43 PM PST by ReverendJames (Only A Lawyer And A Painter Can Change Black To White)
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To: GOPsterinMA

$4 does appear to be the “tipping point” for most people.
That’s where they start getting really mad.


33 posted on 12/27/2010 2:03:15 PM PST by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: nascarnation

I forgot the anti-nuclear lobby and the environmentalists who share a large part of the blame for where we are on energy today. We have both hands tied behind our backs: On the one hand, we refuse to drill domestically, and on the other we refuse to use the nuclear technology we pioneered so many years ago, to wean us from our fatal dependence upon our enemies in the Middle East and South America for the oil that our oil companies must purchase.


34 posted on 12/27/2010 2:05:25 PM PST by 4Runner
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To: Stormdog; Nachum

Its all about control. That, and most of these people are shills for OPEC. Nothing they are doing will reduce demand for transportation fuels, they just reduce the availability of non-OPEC fuels.

Their increased control of the resource increases the profits to OPEC. It doesn’t really affect the oil companies one way or the other; they can drill here and pay royalties to the US government, or they can drill someplace else and pay royalties to that government. They are in the business of drilling for whoever wants them to drill and will pay their fee. It can be us, and we can reap the benefit of jobs and royalties to the national treasury, or it can be someone else who will reap the same benefit for themselves.

Its crazy for a country like ours to wallow in bankruptcy and not develop its own resources, and pay half a trillion to OPEC instead, but thats where we are at.


35 posted on 12/27/2010 2:08:58 PM PST by marron
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To: MrB

It’s three bucks a gallon now and I’ve been angry since it went to two. Why are we allowing the Middle East to treat us like a bunch of frogs in a kettle of water while they keep turning up the temperature on us little by little?


36 posted on 12/27/2010 2:10:02 PM PST by 4Runner
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To: Nachum
“Drill here, drill now” wins it.

The Republicans should start discussing this likely hood now.

37 posted on 12/27/2010 2:13:16 PM PST by Wiser now (Happiness is not an absence of problems, but the ability to deal with them.)
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To: Nachum

President Palin can’t happen too soon.


38 posted on 12/27/2010 2:16:04 PM PST by 9YearLurker
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To: Stormdog

If it’s you, it’s me, too.

But I’m the guy that connects CAFE standards (smaller cars) and child carseat requirements (larger “footprint” per child) with the population control agenda.


39 posted on 12/27/2010 2:16:30 PM PST by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: 9YearLurker

yep


40 posted on 12/27/2010 2:18:28 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum
A lot of the people on this site who criticized the Chevy Volt are gonna wish they had one when gas goes to $5/gal. I'm gonna get a 40mpg car myself early next year.

Of course the Obama administration is doing everything wrong it possibly could in the area of energy policy. But you all know that.
41 posted on 12/27/2010 2:18:30 PM PST by truthguy (Good intentions are not enough.)
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To: MrB

The week before Christmas I went to a job outside of Boston. I filled up outside of Springfield, drove to Boston to do the job. I finished and drove home. I filled up again at the same station, six hours later. The price went up two cents.

Thats the stuff that pisses me off.


42 posted on 12/27/2010 2:19:48 PM PST by Vermont Lt (Don't taze my junk bro.)
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To: libertybell; Stormdog; Fury; Mr. Wright; MrB
Back when it was ~$3.50 a couple years back, the angst was palpable...then it went down. I remember that very clearly.

Gas thieves better look out.

At $4, ‘x’% of people won't be able to both drive and heat/cool their homes and/or buy food (ethanol screws us from every angle) simple as that. Then it's game over - welcome to the jungle.

Also, if “they” want to restrict travel, it's a painfully effective way to do it.

And yes, God forbid the USA be allowed to develop the resources we already have.

43 posted on 12/27/2010 2:22:32 PM PST by GOPsterinMA (RomneyCare is Mitt`s Chappaquiddick)
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To: stboz

That’s right. The supply of oil within the earth is effectively limitless! A dirty little secret the economists don’t want you to know about! That is why we are a petroleum-based planet and always will be until we begin extraterrestrial search and development for additional resources. So for the next hundred years the argument that Chinese and Korean economic output increases are responsible for gas price increases at the pump is false! It’s false because this is not the old standard equation of scarce resources running up against increased demand, resulting in higher prices. Get real, the supply of oil is limitless, and we are being had once again by the economists in league with the Arabists, who believe Americans are really, really, really stupid.


44 posted on 12/27/2010 2:24:53 PM PST by 4Runner
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To: Nachum

“Under my policies, energy prices would necessarily skyrocket”. A direct quote from Barak Obama circa 2008


45 posted on 12/27/2010 2:25:05 PM PST by rdcbn
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To: Nachum

Only if everyone has a really good job.


46 posted on 12/27/2010 2:25:15 PM PST by DungeonMaster (My dad put his arm around me like that once, to this very day he wears orthopedic shirts.)
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To: GOPsterinMA
Anything more than $4/gallon will set the population off, IMHO.

No it won't.

47 posted on 12/27/2010 2:25:46 PM PST by Clint Williams ( America -- a great idea, didn't last. The only reasonable response to jihad is Crusade.)
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To: 4Runner

The supply of oil may be a limitless resource,
but economics still applies to the “scarcity” of extraction, refining, and transportation.

If any of those are made artificially scarce through regulation, etc, the price will still go up.


48 posted on 12/27/2010 2:27:39 PM PST by MrB (The difference between a (de)humanist and a Satanist is that the latter knows who he's working for.)
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To: Vermont Lt; 4Runner
The day sh*t-for-brains was sworn in, 01/20/09, I paid $1.499/gallon for regular unleaded. I still have the receipt.

The price going up on an hourly basis in suburban Boston happens all the time. Sickening. One day, back in May, the gas went up five cents/gallon in ~8 hours at a Mobil station I drive by.

49 posted on 12/27/2010 2:28:23 PM PST by GOPsterinMA (RomneyCare is Mitt`s Chappaquiddick)
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To: Clint Williams

Ok. Hopefully we don’t have to find out.


50 posted on 12/27/2010 2:29:30 PM PST by GOPsterinMA (RomneyCare is Mitt`s Chappaquiddick)
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