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 ...
Hofmeister is a notorious windbag.
That 50% who say they are going to vote for Barry Soetoro should be forced to pay 50 bucks a gallon. We need something to wake those dumb bass turds up.
I’ll sacrifice if it’ll only help buy a ticket back to Kenya for the Indonesian!
If Obamass gets a second term $5 a gallon while seem cheap.
I am convinced it was the high gas prices of 2008 that broke the camel’s back and caused the bubble to burst. I was paying $4.99 a gallon for diesel and it was costing me $40 a day to get to work. I drastically cut back on everything. Stopped going out to eat. People started having to choose between getting to work and paying their mortgage. If gas goes up again we will be in deep, deep do do.
do do = doo doo
A-GAIN!!!???? How many times are we going to hear this song - until they make it TRUE!!???
I think there are 5 gas stations in Laguna Beach. 4 of them regularly have gas at $3.99-4.25. The other one is actually in south laguna and I paid $3.79 today, that was much less than the summer high of 4.35 I paid last summer.
I can see it happening.
That’s good. I’d also like to see a sticker with Obama with a pipeline sticking up his butt or something equally grotesque to remind everyone who they should thank for that $5/gal gasoline this summer.
“If gas goes up again we will be in deep, deep do do.”
We already are in “deep, deep, do do”. Unfortunately there are still too many idiots that refuse to believe it. But I’m sure that when gasoline hits $5.00/gal, they will wake up damn quick. But it will be too late by then.
The spike in gas prices in 2008 is what tipped the country into the economic swamp we’re in today, as those who were barely making ends meet spent more on transportation and had less to put into their mortgage payments - another spike coming in the fall could send us back into recession, and Obama out the door - he may come to regret his Keystone pipeline decision sooner than he thinks.....
I’ve been criticized as a vandal...
When President Gingrich sweeps into power again and the Tea Party Patriots controls the budget, I see inexpensive, plentiful gas again. Newt knows that we have to "Drill Baby Drill!" and "Frack Baby Frack!". I'm looking forward to a renewed America...it won't be long now.
I forget. Why do I have Hofmeister on my sidebar?
So what do you see the current administration doing to slow or stop this trend? The Bamster is pretty keen on $8 gas and all of us in Smart Cars or riding bikes-—you would disagree?
I should print some of those around Memorial Day. You know, the day Obama can go and speak with some of those we memorialize....
Gas ought to be racing toward $5 to set up the summer.
That 50% who say they are going to vote for Barry Soetoro should be forced to pay 50 bucks a gallon.”
Talked to a gal a couple of years ago about voting for someone running against Congresswoman SHEILA JACKSON LEE. The price of gas came up. She said I should move back into the city so I could ride the bus then it wouldn’t matter what gas cost. Lot of his voters are just out of touch and unrealistic.
I’d be willing to trade a couple dozen for fish tacos...
Facing it, always facing it, that’s the way to get through. Face it!
Don’t forget this date “21 December 2012” EOW... Maybe, just maybe, we’ll have bigger problem on the horizon than $5.00 gas! Prepare and be ready.
I don’t want him in Kenya. I want him in a US prison!
One can hope...
(Yes Dear, I'll take my meds now)
Technically, perhaps..... but I still like it. ;>)
I don’t drive much around home, but when we take off on vacation, I could spread the word far and wide. ;>)
(I think there are 5 gas stations in Laguna Beach. 4 of them regularly have gas at $3.99-4.25. The other one is actually in south laguna and I paid $3.79 today, that was much less than the summer high of 4.35 I paid last summer.)
Here in Hilo, HI we are on our way toward that $5. Today the 87 octane is going for $4.25.
Good thought, but I think it would be less distractive from your message and help your credibility a great deal if you at least spelled Barack’s name right...just sayin’.
Still finishing the estate and then taking off for a mini vacation but I do owe you a “date night” LOL
I drove by there today and almost stopped but had to keep on going.
I’ll try Thursday. Llamades
It’s not the gas, it’s the diesel. Diesel brings everything you buy to you.
“We already are in deep, deep, do do. Unfortunately there are still too many idiots that refuse to believe it. But Im sure that when gasoline hits $5.00/gal, they will wake up damn quick. But it will be too late by then.”
You are right. I should have said bottomless doo doo.
“Somehow we have to figure
out how to boost the price of
gasoline to the [$8-$10/gal]
levels in Europe.” - Barrack Obama’s
Energy Secretary Steve Chu. Had enough yet???
Yikes, very painful days :(
But isnt that the way he *used* to spell it or has it always been with one “R” ?
As much as I detest Bammy, neither party has been particularly keen on ensuring that we produce our own gas and oil for the past several decades. The'Pubbies havre done NOTHING to ensure that we could locate and produce our own gas and oil any more than the Dems. Both parties allow the envirowhackos to call the shots and neither is particularly concerned with what Mr. and Mrs. Average American is paying at the pump.
But, if you're looking for something to make your blood boil, try this one on for size - Gas and oil was one of our leading EXPORTS last year!!
When talking about King Barry, “do do” isn’t far off the mark.
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.