This is Frightening !
http://www.kvue.com/news/top/stories/042608kvuegasprices.a0e680cc.html
HOUSTON -- A trip to the pump may make you want to scream.
"It'll be like $80, something like that. It's ridiculous,” yelled a frustrated motorist as he filled his tank.
Hope he saved his vocal cords. Get this:
"Probably about $4.20 by summer. And prices continue to escalate,” said global oil analyst Jeff Rubin.
He is the chief economist for CIBC World Markets. In 2000, he predicted oil would be $50 a barrel by 2005.
That proved true.
He predicted $100 a barrel by the end of 2007. Once again, true.
Rubin's take on the future of oil?
"About $225 a barrel by 2012,” he said.
That would mean gas as high as $10 dollars a gallon within four years.
Cade Bernsen thought his $85 for a tank on Friday was bad. Try $230.
"Dude. That is crazy! I mean that is wild,” said Bernsen. “That's getting close to like monthly rent."
Pump prices pushed that high would likely have far-reaching impacts, such as increases in price for anything that has to be transported -- Virtually all goods.
So what can we do?
"It's going to take the American people to stand up and say enough is enough,” suggested driver Rodney Randle.
"We've got to find another way of living. That is the hardest part of the whole thing,” said motorist Carmen Wong. “And nobody understands that."
That's a start, but the current problems are something Americans are not used to -- problems that are out of their control.
"What is driving the bus is consumption in oil producing countries themselves because of the massive price subsidies, and rapidly industrializing countries,” said Rubin.
HOUSTON -- A trip to the pump may make you want to scream.
"It'll be like $80, something like that. It's ridiculous,” yelled a frustrated motorist as he filled his tank.
Hope he saved his vocal cords. Get this:
"Probably about $4.20 by summer. And prices continue to escalate,” said global oil analyst Jeff Rubin.
He is the chief economist for CIBC World Markets. In 2000, he predicted oil would be $50 a barrel by 2005.
That proved true.
He predicted $100 a barrel by the end of 2007. Once again, true.
Rubin's take on the future of oil?
"About $225 a barrel by 2012,” he said.
That would mean gas as high as $10 dollars a gallon within four years.
Cade Bernsen thought his $85 for a tank on Friday was bad. Try $230.
"Dude. That is crazy! I mean that is wild,” said Bernsen. “That's getting close to like monthly rent."
Pump prices pushed that high would likely have far-reaching impacts, such as increases in price for anything that has to be transported -- Virtually all goods.
So what can we do?
"It's going to take the American people to stand up and say enough is enough,” suggested driver Rodney Randle.
"We've got to find another way of living. That is the hardest part of the whole thing,” said motorist Carmen Wong. “And nobody understands that."
That's a start, but the current problems are something Americans are not used to -- problems that are out of their control.
"What is driving the bus is consumption in oil producing countries themselves because of the massive price subsidies, and rapidly industrializing countries,” said Rubin.
Comments
Can you imagine that we're NOW paying 3US $ the LITER ! (one fifth of a Gallon)here in Belgium -Europe ? ! ? !
I guess those who have not started yet cutting down their expenses, and go for a simpler way of living, will have to face it - sooner or later...
So let's be creative and helpful as much as we can !
Some news are sounding alarming, though I think it's not a matter of reducing our way of living (this sounds too negative and frustrating), rather a matter of chosing a different path, knowing the difference between wants and needs. In my humble opinion, our keyword has to be -simplify-
Women have a big part to play in these hard times coming. They have always been known to develop treasures of ingenuity, especially in such inflation periods...
THANKS for your ever inspiring posts, and smiles from my little corner of the world ! :>)
NADINE
However, I also saw a news story recently about people not being able to afford hay for their livestock because gas prices have driven up hay prices.
Maybe I should be planting vegetables instead of flowers?
Have a blessed day.
Mary