I heard on the news tonight that oil may hit $200 a barrel by the end of next year and that this will translate to $7 gas. Is this really possible or is this just more of the wild speculation that has lead to this incredible run-up in price?
The current - and possible future - of oil pricing is confounding experts and economists alike. That said, why can't the great American inventiveness create a solution? Oh yeah, it must be something that Congress can't regulate, tax, condemn, or control.
16 Comments on Buckle your seat belts, it could be a wild ride
Steve -
Who ever thought the price of a Gallon of Regular Gas would top $4.00!
(Even NOW, President Bush feels this is not possible!)
At some point, folks will conserve, and reduce energy use - if the price gets too high.
A cousin of mine is visiting from Great Britain. There, in Metro London, petrol (as they call it there) exceeds $11.00, translated from Liters to Gallons, and Pounds to Dollars). Indeed, people are conserving over there, more than ever!
What really burns me - it's been 35 years since the very first "Energy Crisis," brought on by the September, 1973 Arab Oil Embargo. You mean to tell me, in all the years since, no clever inventor or company could come up with a reliable, econonomical alternative source of fuel?
Dean, thanks for your comments. I think that's exactly what it means - that for more than a third of a century we've been hoping that the issue would resolve itself. Look where it has gotten us.
It's difficult for everyone, but I can't imagine how it will affect low wage earners and people on fixed incomes. It is very unsettling to me and I can't help but wonder where this country is headed.
Christine, thanks for commenting. Lower wage earners may need to carpool, use public transit, or even have employers assist in transportation - but these are all workable solutions. The more telling question is the one about the direction of this country. This is especially disturbing on such a commemorative weekend as is upon us.
People will never learn. The supply is the same as it has always been, the pipe is deliberately being squeezed off. We have not learned anything from the past.
Richard, thanks. I'm not sure if it's people or Congress. You know all 435 members of the House are up for re-election this year. How about a brand new slate of 435 members whao haven't been foot-dragging? Couldn't hurt.
From what I heard on the evening news last night, we can guarantee we will see $6/gallon in two years and some say $10/gallon in five years. I own a diesel and the other day I paid $4.60/gallon.
For the first time I am considering using bio-diesel for my classic car -- but I hear that plan might not work as criminals are now stealing the oil from behind the restaurants and it is getting more difficult to obtain.
What amazes me is it doesn't seem there has been as much of an uproar as in the past over the rising costs of gasoline and in turn every product we purchase. I see us moving into a similar situation as we had in the 70's with gas rationing and the price will skyrocket.
JoEllen, I appreciate your comments on this subject. In this country we talk about lots of issues, but many of them are tied to employment and consumer prices - which again are linked to oil. Likewise, I don't see any outrage. We may be partially numbed by the whole price run-up. Certainly the world stage is a factor like never before. However, from what I hear and read, the real impediment to a solution is one word: Congress. Replace them all, they've had their chance. :)
Melody, thanks for your comments. The point is that we created a space exploration program (along with computers, calculators, miniaturization, and all of the other wonderful serendipity benefits). We eliminated polio, TB, smallpox, and other infectious diseases. Why can't we deal with the need for petroleum and come up with a solution? We all know we can, we just need to be given the proper incentives and relax the crazy constraints and regulations.
I hope the predictions are not true. I think the high prices have something to do with the environmentalists not wanting us to drill for our own oil... Then again, I'm no expert... :)
I think we are only now feeling the wripples of the waves. Its just the beginning. The bike will be our friend again. American's have become too dependent on others. I'm in prayer mode right now. Thanks for blogging. Lu
Debi, I agree. It's really amazing at how so few people in this country can impact the lives of the majority. One person takes prayer out of schools. A few people who have a displaced sense of stewardship want to hamper our exploration and inventive spirit. :)
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Steve -
Who ever thought the price of a Gallon of Regular Gas would top $4.00!
(Even NOW, President Bush feels this is not possible!)
At some point, folks will conserve, and reduce energy use - if the price gets too high.
A cousin of mine is visiting from Great Britain. There, in Metro London, petrol (as they call it there) exceeds $11.00, translated from Liters to Gallons, and Pounds to Dollars). Indeed, people are conserving over there, more than ever!
What really burns me - it's been 35 years since the very first "Energy Crisis," brought on by the September, 1973 Arab Oil Embargo. You mean to tell me, in all the years since, no clever inventor or company could come up with a reliable, econonomical alternative source of fuel?
Seems hard to believe!
My 400-cents worth, anyway!
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