CBS News.....Gas over $3.00 a gallon by summer?

[ClintonTyree]

Industry spokesmen saying that it's a given. This isn't going to be good for the Shrub and and even worse for the economy. Are oil producing countries ganging up on Shrub to free the world of his tyranny?

[Emboldened Chimp]

1. That would put a crimp in the old boy's campaign, wouldn't it...

People would be right pissed off at Chimp if it ever got that high.

[Tansy_Gold]

2. Yeah, but that would just give him more "justification" to invade

Saudi Arabia, Mexico, Venezuela, Indonesia. . . . .

[West Coast Democrat]

3. I saw $2 mentioned on the CBS website

Did they mention $3 on the broadcast?

http://www.cbsnews.com/stories/1998/08/01/eveningnews/main15214.shtml

CBS News story tonight:

Gas prices are on the way back up again - they've increased 8 cents per gallon in just the past two weeks. Experts predict that during the peak travel season this summer, motorists could be paying well over $2 a gallon for gasoline and that it will stay that way for the entire summer. So- what's behind the increase? Cynthia Bowers has the Inside Story for us tonight.

[koopie57]

4. I was thinking that

after all these big SUVs and hummers were purchased cuz of that special tax cuts, that they would probably see to it that the price of gas would rise then. I know I will get blasted, but I'm glad the price of gas is going up. I don't mind paying $3 a gallon if it saves the lives of our young people. I sort of liked the slower paced, smaller cars of the 80's. I don't know how this country will learn to understand that we can't be such pigs and gluttons with the worlds natural resources any other way then their pocketbooks. But on the other hand, I do feel bad for those who are just barely making ends meet the way it is.

[lancdem]

5. No, it won't be good for Shrub

or for tourism and the larger economy, as you say.

[stevebreeze]

6. if it even hits $2.00/gal you can expect Bush to act

He will start pumping oil out of the 'strategic" reserve for the strategic purpose of his election.
:kick:

[snippy]

7. $2 is possible but $3 is not, unless there is a huge disruption of supply.

Futures prices for March through July gasoline are not unusually high. Plus, Bush probably would release oil from the strategic petroleum reserves if the price of gasoline got too high. I think he might be planning to do this anyway to lower the price leading up to the election.

DOE continues to buy oil for the SPR even though levels are very high and the price of oil also is very high. Some industries, particularly airlines, are beginning to complain about this. Which presents Bush with another fund raising opportunity. I expect him to extort some money from these industries to at least stop the DOE purchases of oil if not actually release some oil.

[izzie]

8. Well I would.

I do not wish to pay that for gas.