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

1

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.

http://www2.nysun.com/article/75363 - 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.




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
X

This website uses cookies.

This website uses cookies to improve user experience. By using this website you consent to all cookies in accordance with our Privacy Policy.

I agree
 
Learn More