GAS MAY GO TO $5 A GALLON

GAS MAY GO TO $5 A GALLON--NOW GULF

Gulf CEO: Oil May Near $150 a Barrel by Summer
By: ActivistPost
Tags: CURRENT EVENTS ECONOMY
Money News

Crude oil’s price could soar to nearly $150 a barrel by summer, Joe Petrowski, chief executive of Gulf Oil and the Cumberland Gulf Group, told CNBC Thursday...

JUST MORE BUTT GREASE FOR YA---TDD

GAS MAY GO TO $5 A GALLON--NOW GULF

150 a barrel may be pushing it. OPEC plays the balancing act with the crude output and they have been methodically trying to get the price back up over 75 a barrel since it dropped in 2007. I believe I read 72 a barrel is their balance sheet price but I can't find that article right now. If the price goes too high, other countries (outside opec) can afford to and profit from their oil reserves. When it is below 72 a brl it is typically not profitable due to the fact that their oil is more expensive to mine and process.

GAS MAY GO TO $5 A GALLON--NOW GULF

5 dollar gas would be painful at first but ultimately it would be good for this country.

GAS MAY GO TO $5 A GALLON--NOW GULF

DAVE I SEE YOUR ENJOYING THAT MEDICAL MARIJUANA I SENT YOU---$5 A GALLON GOOD FOR THE COUNTRY ???/ MAKE A BIGGER SPLEEF DAVE, ONE CAN'T MAKE A SPLEEF TOO BIG 😉 TDD

GAS MAY GO TO $5 A GALLON--NOW GULF

> 5 dollar gas would be painful at first but ultimately it would be good for this country.

Let's see:

1. Huge national debt due to a decade of foreign wars
2. An inefficient and antiquated financial system unable to manage the economy
3. A ruling class perceived as being indifferent to the hardships of the lower classes
4. A former enemy establishing commercial dominance over your country
5. A burgeoning political movement based on resentment of the establishment

Check

Now let's add

6. A 50% increase in the price of basic goods

And you get France in 1789.

( Not that setting up Madam Guillotine on Wall Street would be a bad thing 😉 )

GAS MAY GO TO $5 A GALLON--NOW GULF

Remember when I was in Germany in the 70's for our uncle and we had gas ration cupons, pretty neat actually, 5 bucks a gallon, and I can't remember how many gallons we could get...my VW was about right per month though. Made lots of ski trips to Austria, so I did use some...anyway, back to the point... Swineus Americanus as a species just flat out swill gasoline, and there is not an exception! The term I "have to" or I "need to" GO _____ fill in the blank, is the most spoken sentence there is!!!! I cut back to one vehicle, and me and the dog still travel too much!!! I vote for 10 bucks a gallon, and no one under 21, (unless in the service), or anyone over 65 (unless they can RUN a mile)!!!

GAS MAY GO TO $5 A GALLON--NOW GULF

TDD I don't know WTF you're talking about but don't shoot the messenger.

It's inevitable, sooner or later oil is going up, up and away. The sooner we get used to it the better it will be.

Although I have a hunch it won't be gradual. It'll be more along the lines of trying harder and harder to keep it cheap until suddenly one day it will become very rare and by then the environment will be destroyed because we won't do anything in everyone's long term best interest because we will be so busy doing everything in a few people's short term interest.

GAS MAY GO TO $5 A GALLON--NOW GULF

Yes it seems like everything has to get really bad (100 times worse than we have it here in the U.S.) before suddenly we have revolution and the murders go out of control. We actually have it pretty good; the world is still willing to keep loaning us money so that we can burn 25% of the world's resources. There is kind of a weird co-dependancy thing going on where we are using up the world's resources and the world needs us to do it because we are the linchpin or key to the world economy at least until we aren't anymore (some day soon) then watch out. TDD's predictions will look like good news.

Why can't we be rational and work towards a solution for the common good before that has to happen?

Le Bois de Justice

I can just picture peasants, pitchforks, torches and

I think you answered your own question

> Why can't we be rational and work towards a solution for the common good...?

>We actually have it pretty good;

Who's going to be the first to give up "pretty good" for "the common good"?

I think you answered your own question

We have had cheap fuel for about the past 100 years or so.

We have set up our whole lives around cheap fuel.

Most of human history fuel was not cheap.

Cheap fuel will soon be a pleasant memory.

GAS MAY GO TO $5 A GALLON--NOW GULF

David is right. Americans consume fuel at a per capita rate that is not sustainable.

Reality will hit us soon enough when the rest of the world wants to consume energy like Americans do. You can already see it happening with China. Their increased consumption will continue to drive raw materials cost up.

Gas needs to go to $5 or even $7/gal (that's what Europeans pay). Only then will it force a change in American behavior.

GAS IS ALREADY MUCH MORE THAN $5 A GALLON

Been there already. Paying over $5 gallon for avgas in Anchorage, it is over $10 in the outlying bush communities. People in villages are paying $7-$10 a gallon for heating oil. You get used to it, and learn to economize if you don't have the bucks. People in villages going back to burning wood if it is available in their area, and double'ng up on snowmobiles, or pulling sleds behind snowmobiles with other riders in the sled.. You do what ya gotta do.

I am getting ready to get out of town and the grid and go burn up some of that Avgas.. Will be burning wood at my cabin, and enjoying the wood heat, and burning up the $7/gallon gas in my snowmachines.

GAS IS ALREADY MUCH MORE THAN $5 A GALLON

Interesting views held by Richard Branson regarding cheap fuel

Http://www.mnn.com/technology/research-innovations/blogs/branson-5-more-years-of-cheap-oil