The Real Estate Sector is a huge drag on our economy, but then again so are the high oil prices, as high fuel costs act like an additional tax on everything you buy or any service you partake in. High gasoline prices affect families and our citizens at a real personal level. Now the Department of Energy research shows that we might be looking at $3.50 per gallon gasoline by Spring and Chicago commodity traders agree.

With home mortgage credit tight and credit card companies tightening and at least one going public at the before the credit card crash to match the subprime lending crisis, one has to wonder if all the doom and gloom predictions for a tough year in 2008 are right on the money. Of course, there are several events that will be taking place the will determine if the gasoline average prices jumps about $3.50 per gallon, as oil looks like it is moving back towards $100 a barrel.

addicted to Middle Eastern Foriegn Oil

An OPEC meeting is coming up and commodity Traders believe there will be more supply issues, as OPEC moves to cut production. Meanwhile, we have some political rhetoric coming from Venezuelan President Hugo Chavez, as he makes threats if the US interferes with Cuba, he will move to cut the US off from his oil. Indeed, the most troubling comments came from the Department of Energy recently predicting a $3.40 per gallon average price by Spring, but by end of year back under $3.00 per gallon.

Now then, we have the auto sector having problems, banking sector, real estate sector, retail sector and small businesses not expanding, while simultaneously strapping consumers with credit tightening, fuel costs and potential lay-offs. There are many troubling economic indicators that are all hitting us at once, this might be a good time to play it safe.

More information on the Flow of Fuel: http://activerain.com/blogsview/392696/The-Flow-of-Fuel

 

5 Comments on $3.50 per Gallon Gasoline Prices Predicted by Spring 2008

FEB
25
2008
155,362 Points Outside Blog
I say we start drilling in Anwar and the Gulf ASAP.  I am sick of the high price stuff and the fact that most of our oil in Alaska is going to Japan
9:41am • #1
2 Featured Posts

Dave,

Indeed, the problem is that we should have already started, because it will take a while, years, to see the first loads. And the cost to get the oil there is much more than near surface Middle Eastern Oil, where the cost to remove it is so low, you can do so fairly easy. Of course, we have China talking to Cuba to drill off the coast in the Gulf of Mexico, something maybe we should be doing, as we can do it safer, and it is very close to our refineries, so that makes a lot of sense as well.

9:54am • #2
The price of gas is outrageous. The fact that in a split second it can go up 10 cents or 15 cents per gallon, but then takes days to go down 5 cents per gallon. Then does the same thing all over again. I think that alone drives a lot of people nuts! lol I know it does me. Good post, Lance!
11:38am • #3
MAR
11
2008
872,299 Points 68 Featured Posts Outside Blog

To bad it didn't wait that long! We are already there here in Oregon and it stinks!

12:10am • #4
Yes, tell me about it, it is $3.71 in Los Angeles and I saw $4.01 for Super Unleaded today. Looks like almost $110 per barrel and I saw an article or two about a price spike possibility of $200 per barrel, ouch.
Unfortunately so,
12:56am • #5

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Lance Winslow

Malibu, CA

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The Car Wash Guy

Address: 74-478 Hwy 111, Palm Desert, CA, 92260

Office Phone: (800) 879-8783 x 111

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Mr. Winslow uses the Active Rain Real Estate Industry Blog, to discuss issues that affect the Real Estate sector of our economy. His dialogues include such things as; droughts, subprime lending fallout, building materials, living off the grid, sales ethics, commercial property, crime, revitalizing downtowns, economic development, community volunteerism, and predicting the future of the real estate markets in the United States.


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