Chronicles Of Depression 2.0: #067

Gas May Soon Cost a Sawbuck

Get ready for another economic shock of major proportions — a virtual doubling of prices at the gas pump to as much as $10 a gallon.

That’s the message from a couple of analytical energy industry trackers, both of whom, based on the surging oil prices, see considerably more pain at the pump than most drivers realize.

Emphasis added by me.

And:

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.

Translating this price into dollars and cents at the gas pump, one of our forecasters, the chairman of Houston-based Dune Energy, Alan Gaines, sees gas rising to $7–$8 a gallon. The other, a commodities tracker at Weiss Research in Jupiter, Fla., Sean Brodrick, projects a range of $8 to $10 a gallon.

Emphasis added by me.

At what per-gallon price point do we rise up and remake this country to suit us?

Cue Paddy Chayefsky:

Explore posts in the same categories: C.O.A.T. - Money, C.O.A.T. - Other, Depression 2.0

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