From Wall Street Journal’s MarketWatch:
Gasoline at $7 a gallon by 2012?
That’s the prediction of analysts at CIBC. They also believe crude will surpass $200 a barrel in the next four years.
April 25, 2008...3:48 pm
Something to think about the next time you buy gas, pt. II
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3 Comments
April 28, 2008 at 12:00 pm
When you think about that, even in the present, does shipping food from California sound like a cheap alternative to growing it here? Does taking land out of food production to create alcohol for fuels, even in the best case senerio will only give you enough fuel for 17 per cent of the cars make sense? How about what this will do to everything that needs to come from China or some other place because we have lost our industrial capacity to make it for ourselves? And for all those NASCAR fans, who likely aren’t reading this blog, what are you going to do when using fuel to drive at full tilt around a track going no where is a thing of the past, assuming you can even get to the race because you can’t waste the fuel to get there.
We need a response from government that re-directs where our resources go to make better use of the fuel and material we have, not find ways to burn it off in needless wars, rule making that benefits the thieves stealing our national wealth, and foolish talk about the enviroment isn’t being harmed by global warming and we need to do nothing about it. Lets make it really understandable, gasoline will not be available at any cost, do deal with it!
May 1, 2008 at 10:23 pm
$7 by 2012 is optimistic. Try $10/gallon by the end of the year. The end of cheap energy is just around the corner.
May 2, 2008 at 8:55 pm
I wonder how the Europeans deal with high gas prices. I’ve read they pay on average $8 per gallon. Maybe we could learn something from them?
My re-budgeting has involved rethinking long-distance trips. For example, next weekend I’ll cram into one Illinois road trip a high school musical and family birthday party in my hometown with a visit to a long-ago friend and shopping at my favorite suburban grocery story, Trader Joe’s.
On the subject of the cost of transporting food, here’s some good news: local farmers market season has officially begun.