$5 a gallon oil in 2012

Discussion in 'Energy' started by Chris, Dec 27, 2010.

  1. Chris
    Offline

    Chris VIP Member

    Joined:
    May 30, 2008
    Messages:
    22,896
    Thanks Received:
    1,894
    Trophy Points:
    73
    Location:
    Virginia
    Ratings:
    +1,903
    NEW YORK (CNNMoney.com) -- The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.

    In an interview with Platt's Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases.

    "I'm predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices," he said.

    Tom Kloza, chief oil analyst with Oil Price Information Service says Americans will see gasoline prices hit the $5 a gallon mark in the next decade, but not by 2012.

    $5 for a gallon of gasoline in 2012 - Dec. 27, 2010
  2. mdn2000
    Offline

    mdn2000 BANNED

    Joined:
    Sep 27, 2009
    Messages:
    3,766
    Thanks Received:
    278
    Trophy Points:
    0
    Location:
    conservative hell california
    Ratings:
    +278
    This would be a better post as an example of "Peak Wind".
  3. LordBrownTrout
    Offline

    LordBrownTrout VIP Member

    Joined:
    Nov 25, 2007
    Messages:
    10,389
    Thanks Received:
    1,968
    Trophy Points:
    88
    Location:
    South Texas
    Ratings:
    +2,010
    That would REALLY help out our 10 percent unemployment economy.
  4. Old Rocks
    Offline

    Old Rocks Gold Member

    Joined:
    Oct 31, 2008
    Messages:
    33,605
    Thanks Received:
    3,590
    Trophy Points:
    155
    Location:
    Portland, Ore.
    Ratings:
    +3,675
    This is what the Conservatives want. Make sure that all the wealth goes to the very wealthy, whether they are here or abroad. And the Saudi princes will give the current leading Republican a big smackaroo in public, and make sure that the Repuke kisses his ass in private. Kind of like the time they visited Crawford
  5. zzzz
    Offline

    zzzz Just a regular American

    Joined:
    Jul 24, 2010
    Messages:
    3,068
    Thanks Received:
    418
    Trophy Points:
    48
    Location:
    Yountsville
    Ratings:
    +418
    I'm not sure about $5 a gallon but I do think $4 is not out of the realm of possibility. China's demand for oil (Their GNP is projected to rise at 10% next year) will increase as our demand is increasing. Supply and demand! The cost is $90 a barrel now and rising. And 70% of the cost of gas is dictated by the cost of a barrel of oil.

    Another interesting aspect here is that we import gasoline because our refinery capacity is not sufficient to supply our need. The largest importer of oil into the US...Canada, Nigeria, Mexico!

    Crude Oil and Total Petroleum Imports Top 15 Countries
  6. Trajan
    Offline

    Trajan conscientia mille testes Staff Member

    Joined:
    Jun 17, 2010
    Messages:
    29,050
    Thanks Received:
    4,749
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,749
    its 355 for reg. here down I (it IS chevron) but even at 330...its getting up there. thank god the media is on it...:rolleyes:.
  7. Trajan
    Offline

    Trajan conscientia mille testes Staff Member

    Joined:
    Jun 17, 2010
    Messages:
    29,050
    Thanks Received:
    4,749
    Trophy Points:
    48
    Location:
    The Bay Area Soviet
    Ratings:
    +4,749
    Why yes of course, its all going according to our dastardly plot, we plan to make amerika pay more for gas, so we can pay more for gas so as to________________ what again?
  8. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,390
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,393
    $5.00 gas and $2.00 Snickers bars.

    Who is it that's inflating the shit out of the currency...BigOil or BigGubmint?
  9. Revere
    Offline

    Revere BANNED

    Joined:
    Jan 23, 2010
    Messages:
    7,427
    Thanks Received:
    415
    Trophy Points:
    0
    Location:
    Watching you in my profile page
    Ratings:
    +415
    If the Saudi Princes control the price of oil, how did it get to $40/bbl in late 2008?
  10. Revere
    Offline

    Revere BANNED

    Joined:
    Jan 23, 2010
    Messages:
    7,427
    Thanks Received:
    415
    Trophy Points:
    0
    Location:
    Watching you in my profile page
    Ratings:
    +415
    Under Barack Obama, the future of the United States is poverty.
  11. Baruch Menachem
    Offline

    Baruch Menachem '

    Joined:
    Sep 12, 2008
    Messages:
    14,031
    Thanks Received:
    3,197
    Trophy Points:
    63
    Ratings:
    +3,197
    It is a scarce resource, and as the economy improves, the price will go up.

    And there are more and more well off chinese. And Russians. And Indians. And Koreans. And Czechs. and Turks. And Poles.

    The US is unique in recent times for voting in stupid. Most of the world is voting them out.
    • Thank You! Thank You! x 1
  12. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,390
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,393
    [​IMG]
    • Thank You! Thank You! x 2
  13. GWV5903
    Online

    GWV5903 VIP Member

    Joined:
    Aug 5, 2009
    Messages:
    2,378
    Thanks Received:
    727
    Trophy Points:
    88
    Location:
    Austin, Texas
    Ratings:
    +740
    If it stays in the $90 to $105 range we will be fine, to far out of that range will probably take us on another roller coaster ride....
  14. hortysir
    Offline

    hortysir In Memorial of 47

    Joined:
    Apr 30, 2010
    Messages:
    15,593
    Thanks Received:
    2,883
    Trophy Points:
    48
    Location:
    Lakeland, FL
    Ratings:
    +2,883
    Oil is already more than $5 a gallon.

    Quaker State is $3.25 a quart.
    That's $13 a gallon
  15. ABikerSailor
    Offline

    ABikerSailor Taoist Wood Dragon

    Joined:
    Aug 26, 2008
    Messages:
    24,873
    Thanks Received:
    3,390
    Trophy Points:
    88
    Location:
    Amarillo TX
    Ratings:
    +3,396
    You know.........big oil should remember that the biggest advances in alternative energy came from the last time that gas hit 4.00/gal.

    Me? I'm glad that I got back on my Lemond bicycle this summer, and am even more happy that I can knock out 20 miles no problem, even at age 46.

    I hope that this time the alternative energy make even bigger advances because of this and render gas and oil useless.
  16. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,390
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,393
    Like what?
  17. Revere
    Offline

    Revere BANNED

    Joined:
    Jan 23, 2010
    Messages:
    7,427
    Thanks Received:
    415
    Trophy Points:
    0
    Location:
    Watching you in my profile page
    Ratings:
    +415
    Alternative energy technologies like hybrid batteries that are too noxious to manufacture in the US.
  18. Intense
    Offline

    Intense Senior Member

    Joined:
    Aug 2, 2009
    Messages:
    44,911
    Thanks Received:
    5,840
    Trophy Points:
    48
    Ratings:
    +5,840
    That will be the end of the recovery.
  19. ABikerSailor
    Offline

    ABikerSailor Taoist Wood Dragon

    Joined:
    Aug 26, 2008
    Messages:
    24,873
    Thanks Received:
    3,390
    Trophy Points:
    88
    Location:
    Amarillo TX
    Ratings:
    +3,396
    The Chevy folks came up with the Volt (which was production ready btw) in 2006. They didn't release it until 2010. Why? Because up until then, nobody was interested in electric cars.

    Honda as well as many other foreign car companies are coming up with electric cars, there is an increase in windfarms, and various stockyards as well as garbage dumps, are starting to harvest the methane that comes from those places.

    Yep.........if big oil keeps doing what it's doing, they're gonna price themselves out of existence.

    We can only hope..........
  20. Yurt
    Offline

    Yurt Gold Member

    Joined:
    Jun 15, 2004
    Messages:
    22,068
    Thanks Received:
    3,092
    Trophy Points:
    155
    Location:
    Above your head
    Ratings:
    +3,315
    i bet chris blamed bush for high oil prices during his term
    • Thank You! Thank You! x 1

Share This Page