Posted on 06/11/2008 8:33:30 AM PDT by tobyhill
WASHINGTON - The Energy Department says motorists can expect gasoline prices to remain close to $4 a gallon through next year.
Oil prices should remain well above $100 a barrel through 2009, says Guy Caruso, head of the departments Energy Information Administration.
(Excerpt) Read more at msnbc.msn.com ...
“The Energy Department says motorists can expect gasoline prices to remain close to $4 a gallon through next year.”
If we’re lucky...
The Feds are inflating the currency like mad in order to fix the subprime mortgage crime.
It's not that gas is costing more in real dollars, it's your dollars that are worth less.
This is why they changed the way inflation is measured.
What? You mean prices won’t tumble if The Messiah is elected POTUS?
C’mon NBC. You’re not doing your job
Always double the prediction of the Energy Dept. They were predicting $2.80 a gallon this time last year.
I live in Connecticut. At this point, I’d be thrilled to find gas for $4 a gallon.
I would almost guarantee the Saudis are financing the Sierra Club and other "environmental" groups.
Drilling should have started 30 years ago. That would have avoided the current situation and a couple of wars in the interim.
I wouldn’t trust DOE with a piece of toast, let alone making future estimates of gasoline and oil prices.
In a way, if they hold at this level it’s not entirely a bad thing.
The economy will adjust to the higher prices and compensate. It’s the huge increases that cause the most dislocation and breed uncertainty. Stability, even if at a high price, is what businesses need to plan their economic activity.
Oil prices at this level will make economical alternative sources, such as oil shale and coal liquification. The biggest cost in those schemes is the initial capital investment, and the thought that prices might drop back to $40/barrel will keep investors from backing those ventures.
We need to get off of foreign oil. Obviously, it’s going to take some pain to get us off our butts to do this. Now if only we can get our incompetent, American-hating Congress to let the private sector make the conversion from imported oil....
The Department of Energy? That is still a government agency, correct? So we believe whatever they say? Only if you are government school educated. Rational people will consider the source of the information and give it due credence, next to that grain of salt.
McCain needs to start calling this the “Do nothing Congress”. They are the reason we are where we are.
It’s already crushing the economy. All congress can do is talk about increasing gas mileage but they can mandate all the mileage increases they want and the averages will never get above 25 mpg.
The economy will rebound if
1. the prices stabilize, and
2. the government doesn’t do something stupid, like increase taxes or kills private efforts that would lead to energy independence.
The current pain is the pain of the adjustment to the new price level. In 1979, we all thought $1.00/gallon gasoline a was going to crush the economy. Well, for most of the next 30 years, prices remained stable and our economy did quite well. In large part thanks to Ronald Reagan. But, given a stable price, the economy will adjust and perform.
You are correct!!!, Still no legislative reform on the sub-prime crap from The Hill nor unregulated futures speculation, i.e who and how much, in the US commodities markets.
This ought to push oil up
Well, I guess a butterfly fart will push oil up too....
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Thanks to anti-trust crusaders. Let Standard Oil reassemble itself.
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