Gas Price Predictions

[pbca]

A report just came in from a Canadian Bank/Investment House on CBC. The predictions (taking into account an expected drop in demand to go with the higher prices) are not pretty. This isn't a straight translation - I've roughly translated them into US gas prices based on the current differences in pricing (US Gas is much cheaper).

This Summer: Approx $5.50 gallon
2010 Approx $8.40/gallon
2012 Approx $15.00/gallon

Gas prices are not coming down - biofuel will not help the situation, in some ways biofuel will make it worse as the food shortages it causes brings polticial instabiltiy to oil producing regions.

[KharmaTrain]

1. Average This Out To Fall Prices...

If this prediction is close to realistic (and who knows what is???), this means the price of oil will have nearly doubled in a year and the ripples in the economy will all but strangle it. Companies that rely on oil...and that's plenty...will either downscale or just cut production...truckers will be forced to put their rigs on the side, commodity prices will soar, stores will close and items will become scarce. But those who are speculating couldn't care less...that's where the money is being made. Buy a bushel of November corn...you can't go wrong!

While many in this economy have reached the tipping point where money is being spent on trying just to keep up, the rich...boooshie's buddies...just see the profits. Sure, they pay more for the oil, but they're also making more from the higher price.

[SammyWinstonJack]

2. $15/gal? Holy crap!

:wow:

[pbca]

3. God's Emissions Reduction plan

Given the inability of governments to do the job ... this should seriously cut back on greenhouse gasses. Granted it causes other problems but...Another report today says the arctic is melting much faster than expected: 40% melt since 2000