Big Jump In Gas Prices Predicted [24 cents!]

CBS News ^ | 3/3/2005 | CBS/AP

[RockinRight]

http://www.ford.com/en/innovation/engineFuelTechnology/hydrogenInternalCombustion.htm

What do you think of this??

[Labyrinthos]

Enjoy your SUV's suckers.

If gas goes from $2.00 to $2.50 a gallon then the cost per year to fuel my Ford Explorer will jump by a whopping $375. I guess I'll have to sell my house, tap into my retirement, and get a second job to afford the increase. < / sarcasm >

[stormer]

In 2002 (the most recent data from the 2004 World Almanac), the net US import of petroleum was 10,546,000 barrels per day. Do the math - your 8 to 30 billion barrels doesn't go very far.

[SMARTY]

Mine too, I have felt that way every time (over the past couple of decades) that the oil price has fluctuated so widely. If that's what the Arabs are doing, so be it. It may be their last hurrah.


Anyway, I have always wondered...with the US as the granary of most of the world, what would those grain buying/trading countries do if the US decided to blackmail the hungry millions by witholding grain? Just wondering.

[mpreston]

So how does one explain the disconnect between the expectations that the world economy will continue to grow and OPEC's statement that they have enough oil production to meet demand and that they expect oil prices to drop in 2006?

Maybe it's not SUV's, the station wagon of the 90's/00's. Maybe it's market speculation and dollar devaluation. The oil producers want more of those devalued dollars for each barrel. Even the speculation could be tied to the expectations that further dollar devaluation is expected.

[wardaddy]

Oil, Steel, and Cement.

The triplets of inflation and whose consumption is skyrocketing most?

China.


I cannot get a fix from contractors on steel or cement or even bricks for over 30 days.

[Teacher317]

Went up 26 cents in Indiana yesterday

[HostileTerritory]

26 cents in one day?!

[Marie Antoinette]

Let's hang onto that Honda a little while longer. I think we'll be able to get a little more out of it if gas prices keep going up. :D

[mewzilla]

...really doubt ANWAR would have made a difference.

Especially without increased refinery capacity.

[ManHunter]

I'm not suggesting that I know the answer, nor do I buy into some of the equally half-baked conspiracy theories that abound. However, I've looked at the market, the stats, and the excuses in excruciating detail and they just don't add up.

As to what your gf said, remember, Confucious say: "Better to be pissed off than pissed ON."

[dhs12345]

Don't want to be a pessimist, but there will be resistance to alternative fuels from the Saudis, producers, ...

What would happen to the Saudis if demand drops for their primary source of revenue -- oil? For that matter the whole middle east.

I wouldn't be surprised if the oil companies own a lot of the patents on alternative sources of energy.

[Eagle of Liberty]

I wouldn't reckon on any great advances

Not going to be a pessimist on this one. The majority thought that it was impossible to fly a heavier-than-air device before it was done. It was once thought that only a few computers would ever be needed.

There will be competitive alternative fuels or even alternative propulsion systems on the market in a few years. Count on it.

[april15Bendovr]

This could be more fear mongering from the left.

I had heard on the radio rumors of a big Gas & Oil company merger that could be coming.

This incident happened over some equipment failure somewhere in Texas I believe?

[paleocon patriarch]

Why would an administration comprised of oil men want to lower the price of gas (and oil company profits)?

[JTHomes]

Enjoy your SUV's suckers.

I do.