2010 = gas at $7 a gallon
bigbadbill
Posts: 1,758
http://cbs2.com/gasprices/gas.prices.economy.2.758665.html
No Relief In Sight: Gas May Be $7 A Gallon By 2010
Gas Watch: Find Cheapest Gas In Your Area
CBS News Interactive: Oil And Gas Use
NEW YORK (CBS News) ― A new energy report predicts $200-a-barrel oil in as short a time as two years. If that happens, gas would likely go up to $7 a gallon - and that would have an enormous impact on the way Americans live
Mitchell Igelko in Miami complains rising gas prices are threatening his 20-year-old landscaping business. His two biggest trucks sit idle - he can't afford to fill them up.
Right now, Igelko's business averages $30,000 a month in gas - at $7 a gallon, that would jump to about $50,000 a month, CBS News correspondent Priya David reports.
"I think at that time, I'm gonna put a sign 'gone fishing,'" he said.
Economist Jeff Rubin predicts the $7 mark will arrive by the year 2010.
Hardest hit will be those for those making less than $25,000 a year. For them, gas will go from 7 percent of their income to a whopping 20 percent.
"People are going to be spending more on gas than they are on groceries," said Rubin. "And that's not a sustainable choice."
In fact, by 2012, higher prices could send an additional 10 million vehicles off the road.
It would certainly ease congestion. Having that many cars come off the roads is like permanently parking twice as many cars as there are in the whole state of New Jersey.
Some look to Europe for solutions to the skyrocketing gas prices.
"They drive these nice little cars which maybe we should start doing," one U.S. driver said.
Expensive gasoline has led Europeans to also drive less than we do. In America, over 90 percent of all households commute to work by car. Compare that to just 60 percent of British households.
"People's entire mindset as to what kind of vehicles they drive, where they live, choices they make on holidays, and vacations are going to be quite different, because it's starting to bite," said Joseph Romm of climateprogress.org.
For Mitchell Igelko, $4 gas is trimming his profits, but $7 gas would be a knock-out blow.
No Relief In Sight: Gas May Be $7 A Gallon By 2010
Gas Watch: Find Cheapest Gas In Your Area
CBS News Interactive: Oil And Gas Use
NEW YORK (CBS News) ― A new energy report predicts $200-a-barrel oil in as short a time as two years. If that happens, gas would likely go up to $7 a gallon - and that would have an enormous impact on the way Americans live
Mitchell Igelko in Miami complains rising gas prices are threatening his 20-year-old landscaping business. His two biggest trucks sit idle - he can't afford to fill them up.
Right now, Igelko's business averages $30,000 a month in gas - at $7 a gallon, that would jump to about $50,000 a month, CBS News correspondent Priya David reports.
"I think at that time, I'm gonna put a sign 'gone fishing,'" he said.
Economist Jeff Rubin predicts the $7 mark will arrive by the year 2010.
Hardest hit will be those for those making less than $25,000 a year. For them, gas will go from 7 percent of their income to a whopping 20 percent.
"People are going to be spending more on gas than they are on groceries," said Rubin. "And that's not a sustainable choice."
In fact, by 2012, higher prices could send an additional 10 million vehicles off the road.
It would certainly ease congestion. Having that many cars come off the roads is like permanently parking twice as many cars as there are in the whole state of New Jersey.
Some look to Europe for solutions to the skyrocketing gas prices.
"They drive these nice little cars which maybe we should start doing," one U.S. driver said.
Expensive gasoline has led Europeans to also drive less than we do. In America, over 90 percent of all households commute to work by car. Compare that to just 60 percent of British households.
"People's entire mindset as to what kind of vehicles they drive, where they live, choices they make on holidays, and vacations are going to be quite different, because it's starting to bite," said Joseph Romm of climateprogress.org.
For Mitchell Igelko, $4 gas is trimming his profits, but $7 gas would be a knock-out blow.
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Gibson Amphitheatre (Los Angeles): 10/7/09
just a little example from switzerland...
1 litre = 1.98 Swiss Franks
1 gallon (3.78541178 litre) = 7.49511532 Swiss Franks
7.49511532 Swiss Franks = 7.37272758 U.S. dollars
here in switzerland we already have reached to 7$-mark. i don't have a car, but even to refuel my motorbike hurts a little.
have a nice sunday + greetings from switzerland
markus
2000-06-23 Zurich
2006-09-13 Bern
2007-06-12 Munich
2012-06-20 Manchester I
2012-06-21 Manchester II
2014-06-20 Milano
2022-06-23 Zurich
And then, prices will have no choice but to come down. It's supply and demand. Basic economics.
for the least they could possibly do
The oil companies are gonna push people like you & me around because all people like you & me do is sit around & get upset without doing anything - they love us for this.
"Why sit when you can dance?" - Me
Gas prices never have to go down. They give us an ultimatum, "Hey American assholes, this is what we're fucking charging, if you don't like it - tough shit - let's see you live without a car".
That's the truth man, they never have to go down.
"Why sit when you can dance?" - Me
Not true.
I mean, eventually, the price makes it so that it becomes *literally* impossible to use gas at the same rate. It's not a choice. I'm at home. It takes me $150 to put gas in my car. I don't have $150. I don't go anywhere. This is going to start happening more and more.
People will start using their car *only* to go to work. They will start finding ways to work from home, if they can. They won't go out to dinner, or the movies or concerts. They will find ways to entertain themselves at home. They will start taking public transportation.
At that point, price will *have* to come down, or gas stations will be sitting around with unsold tankers of gas.
Supply and demand.
Gas is a necessity ... but only to a point.
for the least they could possibly do
The oil companies don't give a shit if people only use gas to drive to & from work. Work is a necessity & they know it. Gas still doesn't have to go down.
"Why sit when you can dance?" - Me
That's our problem. We've developed as if cheap gas was an infinite guarantee. At 7 bucks a gallon it's not just the SUV's etc., but our behavior that's really going to need to be examined.
That is sort of why I don't feel as bad about high gas prices. On one hand yes it does cost me about 50 bucks to fill up my Honda Fit. On the other hand my home is fairly close to the urban centre of the city I live in (although smaller than a 2 garage house in the burbs), so as gas prices keep climbing fewer and fewer people are going to want to live in the suburbs and deal with an hour+ long commute so the value of my place will keep going up.
the above was posted by someone who listens to too many politically one-sided media outlets.
"Why sit when you can dance?" - Me
Yes ... but they use LESS gas that way.
The oil companies would care if everybody used LESS gas. By combining trips and refusing to drive except to work and for emergencies, I've limited my fill-ups to about three a month. That's about half of what I had been using, back when gas was cheaper and I didn't give a shit.
I'm telling you, if everyone in America basically cut their gas consumption in half ... the oil companies would HAVE care. Because the supply of gas would begin to outstrip demand, which would force the prices to come down.
Didn't they teach you economics in high school?
Yes, gas is a bit less responsive to economic trends because it is so neccesary ... it's about the last thing people will give up. But if people give it up, the prices WILL come down.
for the least they could possibly do
I thought it was about paying the true cost of using the energy? Which is it for you, true cost or benefiting the rich?
Verona??? it's all surmountable
Dublin 23.08.06 "The beauty of Ireland, right there!"
Wembley? We all believe!
Copenhagen?? your light made us stars
Chicago 07? And love
What a different life
Had I not found this love with you
haha ... i do believe we should pay the true cost ... but this pricing isn't based on that ... it's based on other reasons ...
I know, I was just messin with ya.
The higher gas prices would certainly hit the poor the hardest...good thing that can't afford cars anyhow.
haha ... bastard! ...
People keep saying the poor are more affected by the price of gasoline. If your poor, you can't buy a car in the first place. Chances are you have no job and no money for food either. So higher prices are not going to affect you either. I'm missing something here...
Verona??? it's all surmountable
Dublin 23.08.06 "The beauty of Ireland, right there!"
Wembley? We all believe!
Copenhagen?? your light made us stars
Chicago 07? And love
What a different life
Had I not found this love with you