That translates into $5-$6 a gallon. President Bush may be looking for another job in November if he doesn't nip in the bud Iranian efforts to jack up the price of oil and destabilize the Middle East fast.
I don't know what Bush should do. Iran has become a thorn in our side but Bush could not afford to do anything drastic until after the election. Guess we will have to wait and see what Britain does in the mean time.
Actually, that would translate into about $3-$3.50 a gallon. Kerry for president would be a disaster for the entire world of free people.
If $42 crude=$2.10 gasoline, I'd say $60 crude would be something less than $5.00 gas.
Bush can't preemptively attack Iran right now - he would lose the election if that happened, the base would stay with him, but that's not enough to win, the independents would all go to Kerry.
If oil went to $60 a barrel, alternate energy sources become very appealing, like coal gassification and natural gas powered engines. I'm far more concerned about insane Islamism acquiring a nuke ... and Iran is cooperating with Osama and al Qaeda at every opportunity.
"That translates into $5-$6 a gallon. President Bush may be looking for another job in November if he doesn't nip in the bud Iranian efforts to jack up the price of oil and destabilize the Middle East fast."
Um.... at $40 a barrel, gas is at ~ $2 a gallon.
Linearly, $60 a barrel would be $3 a gallon.