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 ...
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Prepare for death in the streets then.
Anything more than $4/gallon will set the population off, IMHO.
If this is the case, how does the U.S. economy NOT go into a deep recession?
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.
(stolen from another FreepeR who's name I forget)
You cannot attack, demonize and hamper the domestic oil industry and not have high gas prices.
And the subsequent calls to nationalize it.
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.
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
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...
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
That will play right into Sarah Palin’s hands.
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.
And a few Freepers made fun of me for riding a bike, owning a moped and driving a Geo Metro....
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.
“Ag round tables say we can see $8-$9 corn and 16-18 dollar beans.”
Thanks to the greedy farmers.
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