Gas Price Prediction: $6 to $7 per Gallon in 6 to 24 Months

Think that gasoline is expensive at $4 a gallon? Maybe, but apparently that price point isn't high enough to make Americans change their usual day-to-day driving habit:

If oil hits $200 a barrel, which is the upper end of Goldman Sach's prediction for prices over the next six months to two years, the gasoline picture changes quite dramatically. At $200 a barrel, crude alone would cost $4.76 a gallon. Add on the costs of refining and distributing as well as taxes, and pump prices could rise to a range of $6 to $7 a gallon.
U.S. drivers haven't radically changed their behavior, and it is unclear at what price it becomes unprofitable for Americans to go about their usual day-to-day activities, said Eric DeGesero, executive vice president of the Fuel Merchants Association of New Jersey.
"Maybe at $6 or $7 a gallon, it becomes less attractive to go to work," Mr. DeGesero said. "We haven't hit that point yet, but we might soon."

Link

Previously on Neatorama: Gas Prices: How High is TOO High?


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Why is everyone so angry at each other?

I would hope, at the end of the day, this is all in jest. I am not a very religious person, however I believe we all should have a level of respect for each others circumstances and situations. We are all products of the environment we are in, brought up in, or a member of.

To sum up the world energy crisis in blog format is both disrespectful to my intelligence as well as yours. So instead of fighting each other, why not offer suggestions, or alternatives that individuals can do to make a change in their life, which, hopefully if enough make, will change all our lives for the better.

My opinion/suggestion ... cut back on frivilous spending ... I know I drop like 5-10 bucks a day on drinks or food while at work, well, no more. So I have been saving about 50 bucks a week. This offsets the current $55/tank fill up I do once every 7 days.

I found it amazing just how much I spend on random crap every week ... dont know, just my suggestion for those out there, I didn't think I wasted that much money...you'd be surprised, get a statement from your bank ;-)

Let's try to be civil, I mean really people ...
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from senator maria cantwell.

During the hearing is was reported Michael Greenburger (the former speculation committe chairman) reported that gas could drop 25 to fifty percent. If spectulation could proprerly regulated would get prices back under control would drop the almost right away. These controls were removed in 2000.

One reason is we have seen the price of oil more than double from $60 to $135 is just over two years without major supply disruptions. We have also been plagued by manipulation in other energy markets.

Enron and others manipulated the Western electricity markets in 2000 and 2001 and cost consumers over $40 billion. In light of that, Congress gave the Federal Energy Regulatory Commission new authority in the Energy Policy Act of 2005.

Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the wholesale electricity and natural gas markets. We’re going to hear today from FERC’s Deputy Director of Investigation and Enforcement on how FERC has used its new authority to root out manipulation in physical electricity and natural gas markets.
To date, FERC has used its new authority to conduct 64 investigations resulting in 14 settlements totaling over $48 million in civil penalties. We have seen the very same energy traders move from Enron to Amaranth, and American families and business alike have the same concerns about potential manipulation in our oil markets.

Last December 2007, Congress granted the FTC anti-manipulation authority in the Energy Bill. Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the purchase or sale of crude oil, gasoline, or petroleum distillates at wholesale.

Americans may be surprised to learn that our oil futures markets were substantially deregulated by CFTC staff decisions that were made behind closed doors. This “London-Loophole” and now the “Dubai-Loophole” is keeping important U.S. energy trading in the dark. And without proper light manipulators have free reign.
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Wanna double your miles per gallon without changing your car? Get the WATER HYBRID CONVERSION guide to learn how to convert your car into a water hybrid @ https://paydotcom.com/r/47165/sabre23/18066767/
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