Skip to comments.$5 gas coming .... ?
Posted on 01/24/2012 8:41:31 PM PST by smokingfrog
HOUSTON - A former Houston oil executive predicts drivers could be paying $5 for a gallon of gas by the end of the year, and says politicians in Washington D.C. are to blame.
John Hofmeister is the retired president of Shell Oil. He currently runs the non-profit group Citizens for Affordable Energy.
"It was actually December, 2010, when I predicted $5 gasoline by the end of 2012," said Hofmeister. "And, I said then, 'I hope I'm wrong.' My concern is I won't be wrong."
Some energy price analysts have said Hofmeister's prediction is likely off by at least $1 -- instead, they forecast a price of $4 a gallon by the end of the year.
But Hofmeister said nothing has changed his prediction just yet.
"My big problem with $5 gasoline is that it's an invisible tax on the American people that they didn't vote for," he said.
"They didn't have anything to do with it, other than be victims of their own government to get that tax."
Hofmeister blames politicians of both parties, including the president.
(Excerpt) Read more at click2houston.com ...
That’s exactly what my husband said. Paying $5.00 for gas would be worth it to dump this jerk.
There are many components to this. Being able to develop and produce our own gas and oil is critically important to our future and plays into the financial issue but, you are correct, we desparately need to get our financial house in order.
One component of that is manufacturing. Here's a stat that should give you pause for concern - at the end of WWII, we had 60% of the world's manufacturing capacity. Today, we have less than 20% and an unemployment rate in excess of 9% (which probably means that the REAL number is closer to 20%!). THAT'S what our corrupt government (not just Bammy, but corrupt politicians on BOTH sides of the aisle) have given us. If we don't reverse the flow of manufacturing jobs offshore AND stop exporting domestically produced gas and oil (to lower the price at the pump), we are, indeed, hosed!
That first statistic doesn't concern me at all. This is mainly because it is predicated on the notion that having 60% of the world's manufacturing capacity somehow represents a normal, healthy state of affairs. In fact, the opposite is true and the 60% figure you cite is nothing more than a historical anomaly tied to the fact that the U.S. was the only industrial power to emerge from World War II with our infrastructure and industrial assets unscathed.
The 300 million people in this country represent less than 5% of the world's population. Even having 20% of the world's manufacturing capacity means we are very much "over-weighted" in that figure. We have a lot of things going for us here, but it's no accident that we are losing ground to other countries that are simply larger than us, growing faster than us, and working harder than us. You might even call it a natural turn of events, when you think about it.
I think you missed the point of the statistic. Consider fighting a major war today. We have cut and crippled our military in the intervening years since WWII as well as shipping our manufacturing jobs offshore.
Most of the advanced weapons system in use today employ state-of-the-art electronics which use integrated circuits purchased from Taiwan, China, Japan or Indonesia. We produce practically no ICs in the US. In addition, the steel used to build ships, heavy armor, guns, and aircraft is imported from China or Japan and our uniforms are all made in China.
So, we have very long supply lines, small inventories and technology that has been distributed to potential enemies or countries who may be unable to supply our materiels in the event that they are interdicted by a hostile force.
So, not only are we dependent on foreign countries for our materials, the jobs (and, thus, the ability to improve our financial position) that come with those manufacturing plants are non-existant.
You might want to re-evaluate your “over-weighted” observation in light of the fact that we are beholden to China for virtually everything we buy as well as the debt we currently owe. Historically, America has been largely self-sufficient and has not had to depend on others for our needs.
With a population of 300 miliion (as you noted) and growing, the jobs we are creating are mostly low level service sector jobs. The middle class has been squeezed and is being eliminated by political elites who want to create an environment in which there are the political elites (our version of royalty), the very wealthy (who run the corporations and prop the political elites up), and the peons. This is NOT how America became the country we were and it is NOT the America that most of us want in the future. But, it is going to be our future if we don’t end it in a hurry.
a little story before I put my soapbox away and end my rant. In the 1980s, I was in Argentina, just prior to the outbreak of the Falklands War. Argentina had such a bad economy that they had to make jobs in order to keep people working. At one point, I went into a shop to buy a couple of tubes of toothpaste. I spoke to one clerk to tell them what I wanted (I couldn’t just get the toothpaste off the shelf and take it to the cashier). That clerk told another clerk what I wanted and that clerk pulled the toothpaste off the shelf. I then had to go to another clerk to write up a sales slip for the 2 tubes of toothpaste and, finally, I went to a 4th clerk to ring up my purchase and complete the sale. If we do not pull these jobs back, this is where we are headed.
Wow! To some people, having somebody from the government taking care of them is more important than FREEDOM. That woman is sick.
If Iran closes the Straits of Hormuz, you could be paying $12.00 tomorrow!
“Prepare and be ready.”
FYI...I try to always be prepared and ready. Stocked to the gills with food, water and ammo.
“Just because I’m paranoid, that doesn’t prove that they aren’t out to get me.”
President Obamas foolhardy energy policy
By Deneen Borelli 7:06 PM 02/06/2012
Fearing a political backlash over his rejection of the Keystone XL pipeline, President Barack Obama tried to use his State of the Union address to appease critics of his war on fossil fuels.
By stealing conservatives all of the above energy policy, Obama is trying to diffuse criticism of his flawed energy policy.
In particular, Obamas call for more oil and gas drilling in his State of the Union address was meant to deflect attention away from his failure to approve TransCanadas Keystone XL pipeline. TransCanada has already invested $1.9 billion in the project and abided by the federal regulatory process, and its pipeline provides a whole new meaning to Obamas shovel ready phrase.
The presidents refusal to allow construction of the Keystone XL pipeline, at a cost of an estimated 20,000 jobs, is proof he is putting his radical ideology before the well-being of American families.
Drivers Paying for Obama’s Keystone XL Delay With High Gas Prices
By Brigham McCown
His delay undermines the president’s work to manufacture a reputation as a job creator for America’s working class. The pipeline stands to create 20,000 “shovel ready” jobs immediately and 340,000 over the long-term. Pundits speculate that with this decision the Obama campaign signified its willingness to sacrifice the U.S. blue collar vote to rejuvenate support from the left’s environmental contingenta demographic staunchly opposed to development of Canadian oil.
Yet, fallout from the president’s Keystone XL delay may go far beyond the unemployed who were looking to the pipeline for potential job opportunities. His decision may cost all Americans when they drive up to the pump.
Obama Promises Skyrocketing Energy Prices
OBAMA’S GONNA PAY FOR MY GAS...
I recall that during the last primary, Hussain said that he was planning to make gas go up to 7.50 a gallon, similar to his socialist pals in Europe.
Anyone have a link to that?
Obama Supports High Gas Prices If They’re Gradually Hiked
So will they be giving away suburbans and 3500’s at the Chevy dealer?
The prices above were shown on SF KTVU this morning. They are blocking the prices of the higher grades which were over $5/gallon.
Remember the hate America Enviros have wanted $5/gallon for gas for years. If our economy was recovering, this will drive a wooden stake into its heart!
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