Experts(Boone Pickens) say gas prices could reach $3 a gallon

[Algorem]

"$3 a gallon for gasoline won’t be unusual a year from now"

POSTED: Tuesday, June 21, 2005 6:54:35 AM
UPDATED: Tuesday, June 21, 2005 8:49:32 AM

NEW YORK --...

Light sweet crude for July delivery climbed 90 cents to $59.37 a barrel Monday, a record close on the New York Mercantile Exchange.


Oil reached the new high even as the president of OPEC said the group will consider raising its output ceiling by 500,000 barrels a day.


OPEC raised its output target by that amount just last week. But the move appears to have little impact on prices, which have risen by almost $12 a barrel in the past month.


But oil tycoon Boone Pickens says $60 a barrel oil is likely, calling it only a psychological barrier. He says $3 a gallon for gasoline won’t be unusual a year from now either.

http://www.cleveland.com/newsflash/index.ssf

[bribri16]

1. All to make the Bushcos much more wealthy!

Also designed to make folks with money feel that they are having it rough and take their minds off of the unemployed, uninsured, unhealthy, elderly, and poor. God forbid that gasoline will cost more, making it tough on them to fuel their luxary land and ocean cruisers.

[reprobate]

24. I don't care how wealthy the bushcos are, as long as their checks...

...go to a prison cell at the Hague. For a really loooong time.

[BlueEyedSon]

2. I could tell you that too, and I'm no expert!

$60 is a done deal (it's one trader's sneeze away), $70 is "likely"

[Skink]

4. Just how big is a barrell of oil I wonder?

Is it the same size as a Keg?

[BlueEyedSon]

5. 42 Gallons

http://www.txoga.org/articles/308/1/WHAT-A-BARREL-OF-CRUDE-OIL-MAKES

[Skink]

8. Well with those figures 3 dollar gas makes sense.

I'm also buying into the theory that an unseen force is keeping prices at the pump artificially low while GM unloads the last of the remaining Hummers.

[BlueEyedSon]

15. Gasoline is 2-3 times more expensive in Europe, FYI.

[nothingshocksmeanymore]

18. Not when you consider all the subsidies here

[BlueEyedSon]

21. At the pump.

[Deja Q]

27. government subsidies to oil cos. We pay the same or more, we just don't

realize how exactly much is used in quiet subsidies to the rich corporate execs of the oil industry.

[BiggJawn]

29. Yes, but they have this very odd system over there, too.

It's called "Mass Transit".

Here in Murka, Mass Transit means loading all the kids up into the SUV for Church on Sunday morning...

If I had a train to take back and forth to work and shopping, I could give a rat's ass what gas costs. But since I live in "Typical America" (read: NO mass transit, NO clustering of services, NO shit) and do NOT get a cost of living adjustment to my wages, Pump price is of a very real concern to me.

A lot of people must think most of us are clueless yokels, because EVERY time one of these "$3 a gallon" threads gets started, SOMEBODY has to point out that they pay a LOT more over in Europe.

DUH. I knew that 30 years ago when I had a kid in my 3rd-grade class who just came over from England. "Twenty Cents a gallon! Wow!"... "No, Twenty Pence a Liter..."

[Straight Shooter]

14. That's exactly what I was going to say.

It's a no-brainer if you're paying any kind of attention at all.

[catmandu57]

3. I wonder if he means on average

I think there are already places that pay three dollars a gallon. We're at two here, the selling price for my four cylinder subaru keeps going up.

[mbperrin]

6. Maybe if that old crook will stay focused on oil,

he'll quit trying to steal water from West Texas to sell to Dallas. Maybe.

Isn't it about time someone besides the Japanese duct-taped him and took him in the trunk to an airport?

[lastliberalintexas]

20. SE Texas is going to lose its water one day too

Houston and San Antonio (as well as points even further west) want ours, and it's just a few more votes away. We've really been screwed in the re-redistricting schemes and only have 2 local state representatives anymore. Our state senators and Congresscritters are all out of the Houston area and suburbs, and could give a crap about screwing the people (not to mention the environment) of SE Texas. They've just had other more pressing concerns over the last couple of sessions- you know, killing the state's tax base, protecting those poor little corporations from frivolous lawsuits and seeing just how bad our school finance system can get. Otherwise, I expect the junior water rights issues to really heat up in earnest in the next 2 or 3 sessions.


Sorry for the mini threadjack, but it actually seems on topic to an extent. After all, one of these days the water wars are going to replace the oil wars. Not exactly a pleasant thought, and I hope I'm not around to see it.

[Bush_Eats_Beef]

7. We got within a few cents of that recently in Silicon Valley

I have to laugh when people say "gas could reach $3 a gallon" because we've already BEEN there.

$2.97 may LOOK like $2.97, but TRUST ME.

It's THREE DOLLARS. The prices have dropped, but I don;t think anyone expected that to last.

[ramapo]

9. Nobody should be surprised

Supply and demand

[ewagner]

10. T. Boone Pickens...

the original Wall Street Pirate......

the guy is absolutely scary.....if he's involved, you can bet you're about to get screwed

[Boomer]

11. Psychological barrier?

>> But oil tycoon Boone Pickens says $60 a barrel oil is likely, calling it only a psychological barrier. <<

Easily for him to say. He doesn't need to commute to a minimum wage job. He doesn't need to choose between food and gas, or between gas and shoes for his children.

[cthrumatrix]

12. but but but ...shrubby said he "would tell OPEC to lower prices" when he

was running for President...........

Are you suggesting that he lied??????????????

[wakeme2008]

13. YES... $3.00 per gallon just in time for the 2006 elections and

the Grand OIL Party's major lost of seats in the election. :applause: :applause: :applause: :applause:

[Melynn]

30. You're right. $3.00 per gallon will push many people to vote for Dems

Especially since many people thought that oil prices would come down after America occupied Iraq.

BushCo's greed is going to be their undoing.

[dissent1977]

31. The problem for the Dems is...

They have been just as silent on the issue of peak oil as the GOP has. While I agree the Republicans will probably be hurt worse than the Democrats are, I think this issue could bring widespread voter revolt. If there is one party that I think will gain anything from this it will be the Greens. They have made peak oil an issue, and have tried to offer solutions to fossil fuels. Given our two party system they have a major uphill battle to actually win office, but they are going to be very attractive to a lot of people when they realize just how much the two big parties have kept their eyes closed and their ears plugged.

[MadisonProgressive]

16. Peak Oil - and it will get far worse that $3 a gallon

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x133676

[dissent1977]

32. Yes, $3.00 a gallon is actually quite optimistic

[Ready4Change]

17. $3? I'm wondering if I'll be paying $5 next year.

Seriously.

[donsu]

19. a recent article posted here said when it got to $4 gal, hell would

happen.

it would affect rural and outter burbs first

food is transported - we have to eat, whatever it costs - or not

those driving long ways to work, shopping, will have to move closer to jobs

housing market will go upside down

[reprobate]

25. It will effect many more things than pump price.

Oil is used in fertilizer. and to run the corporate farming that feeds us all. You can expect that food will be far, far more expensive as the corporate farms start to fail from lack of oil to run their equipment and lack of money for consumers to buy what they CAN produce.

Power can certainly get too expensive for many to pay for. Expect that many people will ration their power usage when the fuel surcharge goes thru the roof.

In fact, the entire consumer society we live in will have to make some very painfull changes, thanks to Mad George and those puppeteers pulling his strings.

Maybe someday the people of the US will wake up and blame those that really are responsible for their plight. Wonder how difficult it would be to make a working copy of Dr. Guillotine's favorite invention.

Maybe we could have our own Bastille Day.

[Massacure]

22. Could. I hate that word. Only weasels use it.

No shit it will hit $3.00. The question is when. Will it be in 20 years due to inflation, or will it be in a month because of supply and demand. I think it is the later.

[Lowell]

23. Park the truck

and hide the keys. I'm glad I ride my motorcycle to work. When I got my last motorcycle a few years ago one of my selling points to the wife was that it got 50 miles to a gallon. Didn't impress her much then, but it is making a big difference now. Unfortunately there are still those huge behemoth SUVs clogging the streets using more in an hour than I burn in a week.

[Deja Q]

26. 1983 levels... BUT AT 2005 NEEDS...

:hide:

[wallwriter]

28. Expert Wallwriter says gas prices will reach $5 a gallon.

Maybe more. And we will deserve it.