Gas @ $10.00 a gallon?

[Sily]

I was reading Stewart's News section today and there was mention of possible $10.00 for a gallon of gas.

Wowzie!  :shock:

Here's a link to a story at New York Sun that starts off like this:


Gasoline May Soon Cost a Sawbuck Big New Shock at the Pump Forecast by Two Analysts By [color="#663300"]DAN DORFMAN[/color]
Special to the Sun
April 28, 2008

[color="#000000"]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 [color="#663300"]New York City[/color] and the West Coast, gas is already sporting a price tag above $4 a gallon. There was a pray-in at a [color="#663300"]Chevron[/color] station in [color="#663300"]San Francisco[/color] on Friday led by a minister asking God for cheaper gas, and an Arco gas station in [color="#663300"]San Mateo[/color], [color="#663300"]Calif.[/color], has already raised its price to a sky-high $4.62.
In [color="#663300"]Manhattan[/color], at a [color="#663300"]Mobil[/color] 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 [color="#663300"]OPEC[/color]) and the oil companies," an attendant there told me.....

(more @ above link)


[/color]

[Rob]

Welcome to the UK! We've been paying the equivalent of USD $10 / gallon for a while now. Cheapest I found was GBP £1.07 / litre, which is about USD $9.60 / gallon

[Sily]

....which is about USD $9.60 / gallon...

*faints*



I've been so spoiled @ $3.46 a gallon here in Maryland.  icon_sad

[Mercy Now]

I found this list.Don't know much about the validity of it or what difference if any it would make by buying non-middle eastern oil.But FWIW....

These companies IMPORT Middle Eastern oil:

.
   
Shell........................... 205,742,000 barrels
.
 
Chevron/Texaco......... 144,332,000 barrels
.
 
Exxon /Mobil............... 130,082,000 barrels
.
 
Marathon/Speedway... 117,740,000 barrels
.
 
Amoco............................62,231,000 barrels
.
.
.


If you do the math at $30/barrel, these imports amount to over $18  BILLION!  (oil is now $100+ a barrel)
.  
.

Here are large companies that DO NOT import Middle Eastern oil:


Sunoco.........0 barrels
.  

Conoco.........0 barrels
  
Sinclair.......... 0 barrels
  
BP/Phillips........ 0 barrels

Hess................ 0 barrels
 

Arco ........0 barrels
 


Citgo gas is from South America, Hugo Chavez' Venezuela.

[Polly]

No, no, you haven't been spoiled, Sily.  :D  Even $3.46 a gallon is high. 

I think this article is conditioning people to accept the $10.00 a gallon possibility.

[Polly]

The American government is blaming OPEC for the high price of oil and gas and OPEC is blaming the recession in this country as well as the declining value of the dollar.

In Other Words -- they are in cahoots and this will soon be a prime opportunity to slip in some kind of currency change as everyone is gasping for breath and having the vapors while they fill up their gas tanks.

I know it's not funny, my sarcasm is showing. :)

[Sily]

Well, yesterday the angry truckers called on Congress.

"With horns blaring and American flags flying, hundreds of truckers drove around Capitol Hill in the pouring rain Monday in a gear-jamming, engine-revving, ear-splitting protest against high fuel prices..."


That protest from the truckers was with gas at $3.00+ a gallon.

Can you imagine what will happen as far as "protests" when it hits $10.00.

Original Rednecks Resisted Fascism.

[Polly]

There might be a lot fewer truckers on the road if the price hits that sum and less trucking companies in operation.

[Richard]

The Fed is partly reasonable, the more they lower the interest rate on the dollar the higher oil will go. The Fed is more interested in saving Wall Street than it is the economy.