Get Ready: Oil May Hit $10 a Gallon in Just a Couple of Years!

Think that gas prices are high? According to Dan Dorfman of The New York Sun, we may be seeing much higher gas prices in just three years. How high? Try $10 a gallon.

The forecasts calling for a jump to between $7 and $10 a gallon are based on the view that the price of crude is on its way to $200 in two to three years. [...]

Early last year, with a barrel of oil trading in the low $50s and gasoline nationally selling in a range of $2.30 to $2.50 a gallon, Mr. Gaines — in an impressive display of crystal ball gazing — accurately predicted oil was $100-bound and that gasoline would follow suit by reaching $4 a gallon.

His latest prediction of $200 oil is open to question, since it would undoubtedly create considerable global economic distress. Further, just about every energy expert I talk to cautions me to expect a sizable pullback in oil prices, maybe to between $50 and $70 a barrel, especially if there's a global economic slowdown.

While Mr. Gaines thinks there could be a temporary decline in the oil price, he's convinced an overall uptrend is unstoppable. In fact, he thinks his $200 forecast could be conservative, and that perhaps $250 could be reached. His reasoning: a combination of shrinking supply and increasing demand, especially from China, India, and America.

Link - via Boing Boing


Newest 5
Newest 5 Comments

when gas is ten dollars a gallon it will take me 10 dollars to fill up my Scooter and then i can drive another +100 miles before having to fill up again.

Got MPGs? Suckers!
Abusive comment hidden. (Show it anyway.)
i SAY WE MAKE A RIDE UR BIKE TO WORK DAY MAKE IT YEAR NO CARS EVERYONE JUST RIDE YOUR BIKES
I LIVE 10 MINUTES AWAY FROM MY WORK I DONT RIDE A BIKE BUT I THINK I AM FROM NOW ON

THE ONLY FLAW I SEE IS STUPID PEOPLE THAT DRIVE THEIR CARS LIKE MAINIACS BUT THEN AGAIN SHIT HAPPENS :)

THAT AND A LOT OF AMERICANS ARE REALLY FAT AND OUT OF SHAPE HENS BIGGER CARS FOR THEIR BIGGER BUTS :p
Abusive comment hidden. (Show it anyway.)
Diesel is already near enough $10/gallon in the UK. Then again, that's for one of our proper man-sized UK gallons, not these skimpy "gallon-lite" things you Americans have!
Abusive comment hidden. (Show it anyway.)
Commenting is closed.





Check out Twaggies' very funny clip:

Give a Man a Fish - Twaggies by Twaggies
Email This Post to a Friend
"Get Ready: Oil May Hit $10 a Gallon in Just a Couple of Years!"

Separate multiple emails with a comma. Limit 5.

 

Success! Your email has been sent!

close window