Prices to hi $5 a gallon within a year.

[MONDO]

A good friend of mine is working on projections for the government on how high gas will go. His numbers show more than $5 a gallon if things continue.

That really sux!!!

I still dont think I would part with my beautiful Hummer.

mondo

[MONDO]

A good friend of mine is working on projections for the government on how high gas will go. His numbers show more than $5 a gallon if things continue.

That really sux!!!

I still dont think I would part with my beautiful Hummer.

mondo

[KenP]

ANWR and the Gulf.

[PARAGON]

Umm...... isn't this why we went to war. Isn't this labeled the "oil war."

[PARAGON]

No.... No .... wait. I have their answer. It's a Bush government conspiracy to drive up the oil prices so that it DOESN'T appear like we went to war for oil.

[usetosellhummer]

when we calm down with tons of kids driving to school every day in cars, wasted fuel sittin in traffic with a poor transportation system, and make blue hairs trade in their Buick Roadmasters.
More gas for HUMMERS!
long live the king

[Hart1]

Oil Prices Drop Sharply As Gas Plummets

Thu Apr 7, 1:10 PM ET

By BRAD FOSS, AP Business Writer

Oil futures prices fell more than $1 a barrel Thursday afternoon, following the lead of gasoline futures, and brokers said there appeared to be further momentum lower.


"It's collapsing," said Ed Silliere, a broker at Energy Merchant Intermarket Futures in New York. "The market was extremely overbought."


Light, sweet crude for May delivery dropped $1.45 to $54.40 a barrel in afternoon trade on the New York Mercantile Exchange. After an early decline of nearly 8 cents, gasoline futures recovered some lost ground and were down 4 cents to $1.62.


On Wednesday the U.S. Energy Department said the supply of unleaded gasoline stood at 212.3 million barrels, or 5.5 percent higher than last year. However, gasoline demand remained healthy, up 2 percent from a year ago.


Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures, said he expects high gasoline prices to persist as "people are accumulating inventories before the summer driving season."


The government report also showed that the nation's inventory of crude oil was 317.1 million barrels, or 8 percent higher than last year.


"U.S. oil demand is holding up well, and will help to support prices at lower levels," investment bank Barclays Capital said in a note. "There is ... nothing in the U.S. data to support another push up toward $60 yet."


Emori said the current oil market remains "highly exaggerated," and that if prices followed market fundamentals, they should hover around the low $40 range.


"Although demand still remains strong, supplies are normal, as seen from the U.S. reports," he said. "Even the current spare capacity is not that tight."


The U.S. Energy Information Administration significantly raised its forecast Thursday for gasoline and crude oil prices during the summer driving season, citing strong demand, tight refining capacity and new changes in gasoline specifications.


U.S. monthly average retail gasoline prices are seen peaking in May at a record high $2.35 a gallon, up from a $2.10 peak forecast in the EIA's previous monthly outlook.


U.S. benchmark crude oil prices are seen remaining above $50 a barrel for the rest of 2005 and 2006, the EIA said.Oil Prices Drop Sharply As Gas Plummets

[Hart1]

This is from Cato.org:

"""If OPEC disappeared tomorrow, oil prices would drop to somewhere around $8 a barrel and gasoline prices would almost certainly be south of $1 a gallon. A price collapse of that magnitude would do more for consumer welfare and the overall health of the American economy than almost anything that's been put on the table by President Bush or his Democratic Party rivals. Accordingly, the OPEC cartel should be resisted, not embraced, and policy should aim at undermining it, not propping it up."""

You know what to do, boys....

[HUMMERDOGG]

I'll take the opposite side of $5 a gallon within a year...

[Yetti]

I have been watching the Three Gorges damn project..its going to set the tone for consumerism in the next ten years when it goes on line. its going to decrease the need for foreign oil in China. its currently a 19% consumer of oil Vs our 23%, so in the end we may get back about 10% of what their using now.

[DRTYFN]

Ok, is the general public so stupid and inattentive that they've forgotten about the ass-raping they took from ENRON?
There is such a definitive pattern of price fixing & gouging associated with gasoline.