Shell CEO Predicts $5 Gas by the End of 2011
g under p
Surfing The far side of THE Sombrero Galaxy Posts: 18,200
"The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012."
http://money.cnn.com/2010/12/27/mark...ties/index.htm
Even though this won't happen in one fell swoop, this is a scary predicament for this country. Even though in other parts of the world gas prices are even higher than the $3 a gal we currently have here in this country.
With increasing inflation, rising demand, and our inability to remove stupid politicians and tree huggers from the equation and start producing and refining our own gas, I don't think that will be the high.
What do you guys think will happen to an economy on the brink of several economic disasters when gas hits another record high?.
This is not good news for a possible President Obama re-election.
Peace
http://money.cnn.com/2010/12/27/mark...ties/index.htm
Even though this won't happen in one fell swoop, this is a scary predicament for this country. Even though in other parts of the world gas prices are even higher than the $3 a gal we currently have here in this country.
With increasing inflation, rising demand, and our inability to remove stupid politicians and tree huggers from the equation and start producing and refining our own gas, I don't think that will be the high.
What do you guys think will happen to an economy on the brink of several economic disasters when gas hits another record high?.
This is not good news for a possible President Obama re-election.
Peace
*We CAN bomb the World to pieces, but we CAN'T bomb it into PEACE*...Michael Franti
*MUSIC IS the expression of EMOTION.....and that POLITICS IS merely the DECOY of PERCEPTION*
.....song_Music & Politics....Michael Franti
*The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite INSANE*....Nikola Tesla(a man who shaped our world of electricity with his futuristic inventions)
*MUSIC IS the expression of EMOTION.....and that POLITICS IS merely the DECOY of PERCEPTION*
.....song_Music & Politics....Michael Franti
*The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite INSANE*....Nikola Tesla(a man who shaped our world of electricity with his futuristic inventions)
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http://www.dallasnews.com/sharedcontent ... e5fc9.html
According to what I've seen - US demand has been on the decline for the past 2-3 yrs in a row, first time it has happened since the 70s.
Godfather.
they are drilling already. right in our asses
Alpine Valley Resort is etched in my brain!!!
Delay it past my lifetime? I'm cool with that....
free market? I don't think so... supply is controlled by the OPEC nations driving up the price. Taxes, tariffs, quotas, technical barriers to trade, etc also drive up the price substantially. None of these are facets of a "free market."
If it were a completely free market, I'd suppose we'd be paying less than $1 per gallon. Oil is still a cheap and readily available energy carrier, but it won't be forever. Also, if we lived in a truly free market world economy, other energy carriers would be much more prevalent (natural, biofuels, electric, etc).
Where there is money to be made - that is where the technology will drive our civilization. Even if that is down a dead end alley.
me too.
Fargo 2003
Winnipeg 2005
Winnipeg 2011
St. Paul 2014
there's really nothing our governments can be done when the lion's share of the world's oil comes from foreign lands. barring occupying one of those countries under the false pretense of liberating their people....oh.....wait.......nevermind.
Fargo 2003
Winnipeg 2005
Winnipeg 2011
St. Paul 2014
I'll be riding 15 miles to Palm Beach for work and 15 miles back I just hope I don't get mugged on the way there. My bike is more valuable than my 13 year old truck from a thief's perspective.
Peace
*MUSIC IS the expression of EMOTION.....and that POLITICS IS merely the DECOY of PERCEPTION*
.....song_Music & Politics....Michael Franti
*The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite INSANE*....Nikola Tesla(a man who shaped our world of electricity with his futuristic inventions)
But WHERE is the savings? i'm still payin $3.30 a gallon, shouldn't this help my pocket?
i'm occupping 2 countries and have deals with like 8 other's, really only Iran and Pakistan are being hard asses about it, apperantly they didn't get the memo of whats gona happen to them.
Not just because of the energy required to produce and transport those goods to your table, but because of ETHANOL.
When the price of oil increase (note that I don't mention anything about supply/demand... only price) that means that ethanol price increases, thereby increasing the price of corn and most other grains (which are mostly substitute goods). The price of corn is now $6 and soybeans is $13... wheat and others are near all-time highs. When I was a kid it was normal for corn to be at $2.50 and soybeans to be at $5. It wiill probably continue increasing and these commodities have an affect on many items in the grocery store, except for raw fruits and vegetables.
We can thank Bush for creating this monster (the ethanol industry). It's terribly inefficent (1 gallon of oil to produce 1.1 gallons of ethanol) and it hurts livestock farmers and increases food prices for all of us.
.... And this is coming for a guy whose family grows 2,500 acres of corn and soybeans in the Midwest.
I agree, the Ethanol experiment was a bust. But Bush? Still? Ya he did it, but he tried something.
What has this administration done to even try, except knee-jerk reaction to the oil spill w/ a drilling moratorium: hurting our energy resources, and killing jobs?
I thought Obama was supposed to be the "green job" guy. "Green jobs" were gonna save the economy...
what happened?
We now have the infrastructure created to produce ethanol, which means that we will keep producing it indefinitely. Which means food prices will remain high indefinitely. Yikes.
Fair enough, but just so you know, ethanol production in US was consistent w/ other leading nations through 2006. When the Democratic Congress took over, ethanol production in US jumped from 6 billion gallons to 11 billon gallons. It wasn't Bush's baby necessarily. Just like Iraq: it couldn't have happened w/out the support of Democrats.
What do you care weirdo? My opinion is just as valid as yours is. Or maybe I should just stop thinkin and listen to celebrities....
whats up with all the anti U.S talk you post frequently ? you make it sound that the U.S is always the instigator of every conflict we have.
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Unfortunately, that's the reality we're headed for.
But, these facts have no place on the TRAIN- it will only confuse the "intellectuals".
ummm... nope.... http://en.wikipedia.org/wiki/Ethanol_fu ... by_country
ethanol WAS supported by pretty much everyone 5 or 6 years ago, so I'll concede that we should (edit; should NOT) just "blame bush" like many people do in regards to many different topics.
I'm not really interested in pointing fingers at who is to blame on this subject. But, you could even point a finger at the scientists because back then we didn't really understand the net energy gain was so small (or maybe even negative). Corn industry lobbyists might be the one's who really should be kicked in the cunt, though. They're the ones who got the ball rolling on all of this and made sure that millions of dollars were spent on ethanol infrastructure.