Study: Gas will soon be at $10/gallon

Discussion in 'Trading' started by capmac, Apr 28, 2008.

  1. capmac

    capmac

    Gas May Soon Cost a Sawbuck

    Big New Shock at the Pump Forecast by Two Analysts

    By DAN DORFMAN, Special to the Sun | April 28, 2008

    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.

    Gasoline nationally is in an accelerated upswing, having jumped to $3.58 a gallon from $3.50 in just the past week. In some parts of the country, including New York City and the West Coast, gas is already sporting a price tag above $4 a gallon. There was a pray-in at a Chevron station in San Francisco on Friday led by a minister asking God for cheaper gas, and an Arco gas station in San Mateo, Calif., has already raised its price to a sky-high $4.62.

    In Manhattan, at a Mobil gas station at York Avenue and East 61st Street, premium gas is now $4.03 a gallon. Two days ago, it was $3.96. Why such a high price? “Blame the people at STOPEC (he meant OPEC) and the oil companies,” an attendant there told me.

    http://www.nysun.com/news/business/gas-price-may-soon-cost-sawbuck
     
  2. HAHAHA...
    a pray in...
    are people really that fucking stupid..?

    Pray to the Gods Bush and Cheney to STOP destroying your dollar...
    Then, and only then, will prices fall...
     
  3. Gasoline is $8-9$ a gallon in Europe and the economy is chugging along fine. Probably not too big of a deal if it were to climb to $10 in the US.
     
  4. thats a joke right?
     
  5. europeans walk 10-12 times more than Americans and have far less SUV's....if it were to hit $10.00 here, you would see some serious hurting...which may not be a bad thing in the bigger picture...lets face it...thats the only way to make a change...
     
  6. More crying than hurting probably. Consumers and the economy can adapt. Believe it or not, Europe is doing okay paying 200-300% of what Americans pay for gasoline historically.
     
  7. He is a fed supporter.
     
  8. spidey

    spidey

    You are forgetting that except for large cities, Americans drive much further on average than Europeans. 50 miles is a long way in Europe, 100 miles is nothing in Pennsylvania. $5 a gallon is going to crush the US economy, $10 is a depression guaranteed.
     

  9. Haha! that's rich.

    "Please God, I'm ass deep in debt. I can barely make my Humvee payments and now I have to walk to work because I can't afford it's 10 mpg appetite......"
     
  10. So the economy in America will fall into a depression when people stop driving 100 miles to their job day in day out and instead simply move closer to their jobs like people in Europe do?
     
    #10     Apr 28, 2008