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 ...
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.
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.
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.
“Under my policies, energy prices would necessarily skyrocket”. A direct quote from Barak Obama circa 2008
Only if everyone has a really good job.
No it won't.
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.
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.
Ok. Hopefully we don’t have to find out.
http://www.oilshalegas.com/index.html
Save the Planet and insignificant animals from E-V-I-L oil!
You never know, one might have the cure for the heartbreak of psoriasis.
I think $5 in 2012 is too optimistic.
It wasn’t that long ago when people went ballistic over $1.50/gallon gas. Gas is on the low side of what it could be right now because of recession decreasing demand and allowing high inventories. If we have a short term increase in demand with a depleted supply, we’ll see prices more than double.
Congress will hold hearings on “price gouging” and “profiteering” by the oil companies while they spend us into oblivion and continue to restrict domestic production of oil -and do nothing about the fundamental reason, the piss-poor dollar that got that way due to out of control spending.
We are in a deep recession, in fact we are in a depression.
Absolutely correct. We have more than enough domestic oil ONSHORE, not even bothering with offshore, because of the new drilling technologies. But we need a government willing to let the oil industry drill for it. Billions of dollars of domestic investment, tens of thousands of good paying jobs, $2 gasoline, and no need for the Saudis. Only the US government stands in the way...and $4/gallon gas will sweep that opposition away.
The Dems have been in exclusive control of the nation’s energy policy for more than 20 years. They’ve got no one to blame but themselves.
Absolutely correct. We have more than enough domestic oil ONSHORE, not even bothering with offshore, because of the new drilling technologies. But we need a government willing to let the oil industry drill for it. Billions of dollars of domestic investment, tens of thousands of good paying jobs, $2 gasoline, and no need for the Saudis. Only the US government stands in the way...and $4/gallon gas will sweep that opposition away.
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