Posted on 01/24/2012 8:41:31 PM PST by smokingfrog
HOUSTON - A former Houston oil executive predicts drivers could be paying $5 for a gallon of gas by the end of the year, and says politicians in Washington D.C. are to blame.
John Hofmeister is the retired president of Shell Oil. He currently runs the non-profit group Citizens for Affordable Energy.
"It was actually December, 2010, when I predicted $5 gasoline by the end of 2012," said Hofmeister. "And, I said then, 'I hope I'm wrong.' My concern is I won't be wrong."
Some energy price analysts have said Hofmeister's prediction is likely off by at least $1 -- instead, they forecast a price of $4 a gallon by the end of the year.
But Hofmeister said nothing has changed his prediction just yet.
"My big problem with $5 gasoline is that it's an invisible tax on the American people that they didn't vote for," he said.
"They didn't have anything to do with it, other than be victims of their own government to get that tax."
Hofmeister blames politicians of both parties, including the president.
(Excerpt) Read more at click2houston.com ...
Hofmeister is a notorious windbag.
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That 50% who say they are going to vote for Barry Soetoro should be forced to pay 50 bucks a gallon. We need something to wake those dumb bass turds up.
I’ll sacrifice if it’ll only help buy a ticket back to Kenya for the Indonesian!
If Obamass gets a second term $5 a gallon while seem cheap.
I am convinced it was the high gas prices of 2008 that broke the camel’s back and caused the bubble to burst. I was paying $4.99 a gallon for diesel and it was costing me $40 a day to get to work. I drastically cut back on everything. Stopped going out to eat. People started having to choose between getting to work and paying their mortgage. If gas goes up again we will be in deep, deep do do.
do do = doo doo
A-GAIN!!!???? How many times are we going to hear this song - until they make it TRUE!!???
I think there are 5 gas stations in Laguna Beach. 4 of them regularly have gas at $3.99-4.25. The other one is actually in south laguna and I paid $3.79 today, that was much less than the summer high of 4.35 I paid last summer.
I can see it happening.
Excellent idea!!!!
That’s good. I’d also like to see a sticker with Obama with a pipeline sticking up his butt or something equally grotesque to remind everyone who they should thank for that $5/gal gasoline this summer.
“If gas goes up again we will be in deep, deep do do.”
We already are in “deep, deep, do do”. Unfortunately there are still too many idiots that refuse to believe it. But I’m sure that when gasoline hits $5.00/gal, they will wake up damn quick. But it will be too late by then.
The spike in gas prices in 2008 is what tipped the country into the economic swamp we’re in today, as those who were barely making ends meet spent more on transportation and had less to put into their mortgage payments - another spike coming in the fall could send us back into recession, and Obama out the door - he may come to regret his Keystone pipeline decision sooner than he thinks.....
bttt
I’ve been criticized as a vandal...
When President Gingrich sweeps into power again and the Tea Party Patriots controls the budget, I see inexpensive, plentiful gas again. Newt knows that we have to "Drill Baby Drill!" and "Frack Baby Frack!". I'm looking forward to a renewed America...it won't be long now.
I forget. Why do I have Hofmeister on my sidebar?
So what do you see the current administration doing to slow or stop this trend? The Bamster is pretty keen on $8 gas and all of us in Smart Cars or riding bikes-—you would disagree?
I should print some of those around Memorial Day. You know, the day Obama can go and speak with some of those we memorialize....
Gas ought to be racing toward $5 to set up the summer.
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