$5 a gallon oil in 2012

[Chris]

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

 

[mdn2000]

This would be a better post as an example of "Peak Wind".

 

[LordBrownTrout]

That would REALLY help out our 10 percent unemployment economy.

 

[Old Rocks]

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

 

[zzzz]

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

 

[Trajan]

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....

 

[Trajan]

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

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?

 

[Oddball]

$5.00 gas and $2.00 Snickers bars.

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

 

[Revere]

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

If the Saudi Princes control the price of oil, how did it get to $40/bbl in late 2008?

 

[Revere]

Under Barack Obama, the future of the United States is poverty.

 

[Baruch Menachem]

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.

 

[Oddball]

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

 

[GWV5903]

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

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....

 

[hortysir]

Oil is already more than $5 a gallon.

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

 

[ABikerSailor]

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.

 

[Oddball]

You know.........big oil should remember that the biggest advances in alternative energy came from the last time that gas hit 4.00/gal.

Like what?

 

[Revere]

You know.........big oil should remember that the biggest advances in alternative energy came from the last time that gas hit 4.00/gal.

Like what?

Alternative energy technologies like hybrid batteries that are too noxious to manufacture in the US.

 

[Intense]

That will be the end of the recovery.

 

[ABikerSailor]

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..........

 

[Yurt]

i bet chris blamed bush for high oil prices during his term