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I thank it's safe to say that someone needs to regulate the oil company's after the fiasco in the Gulf of Mexico. Just, I don't believe the MMA is up to the job, it's significant to note that after the gulf spill that out of 42 inspectors in the Lafayette Louisiana office that 40 resigned or were fired. It's hard to believe that no one is doing jail time, what a joke.
It's already being regulated, it's the enforcing that was lacking
Oh please, I think someone has been listening to the left-wing conspiracy theorists a bit much. We have PLENTY of oil still left in the ground which hasn't been tapped much of it in Alaska and Canada at the moment. I'm not sure where you are getting between $5-$10 either, even many "peak oil" conspiracy theorists don't believe we will hit that by 2012 at all.
Nonetheless, I'll still be driving my 14 mpg F-150 whether $3/ gallon or $10/ gallon.
Maybe not, but cheap easy to drill oil is a thang of the past, you'll see 5$ gallom gas by the end of the year. Not a left wing nut case JGMHO.
We always hear of $5 gas by summer time. We heard that last year the year before. Someday it will happen. We haven't realzied it yet or for long term. I am skeptical when I hear these estimates.
The rise in oil prices is not a question of supply. There is plenty of oil for current demand. Prices are rising because the Federal Reserve is printing trillion$ of dollars to keep the banks/wall street propped up and to feed the federal debt. This makes the $ more worthless and hence the oil producers want more $s to compensate.
We always hear of $5 gas by summer time. We heard that last year the year before. Someday it will happen. We haven't realzied it yet or for long term. I am skeptical when I hear these estimates.
I've been paying about $2.80/ gallon here which is up but I don't feel drastically above what I paid a few months ago. Filled up my F-150 yesterday and it took nearly $90. The one downside to driving a big vehicle .
Te otehr downside will be if people anic like inteh past and trade thsoe SUVs at reduced value thinking they are saving moeny and the value drops o the like n the past from less demand.That will be the time to buy relly if you want a SUV.
I'm not sure where you are getting between $5-$10 either, even many "peak oil" conspiracy theorists don't believe we will hit that by 2012 at all.
I'll agree that $10 seems far-fetched, but $5 or close to it doesn't seem unrealistic at all. 87 octane is currently about $3.10 per gallon here, and it's been hovering close to that for a while now. A year ago it was about $2.50 here, and a year before that it was just under $2.00. On the other hand, it could also jump up to $4 this year, then drop quite a bit again. Who knows? My money is on prices just gradually continuing to rise, like they've pretty much always done, like everything else.
I paid 3.39 for 87 octane yesterday at costco here in LA/CA. If you do not drive around it is 3.49 to 3.69 depending on the neighborhood. So I think 4+ is just around the corner. Granted that we are still in recession and the Egypt fears have somewhat settled. Another carzy riot in the middle east and add some improved economic data and we are at 5+. You have to bear in mind that it takes "gas" to deliver it to your station, so you always have the double whammy.
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. We have PLENTY of oil still left in the ground which hasn't been tapped much of it in Alaska and Canada at the moment. I'm not sure where you are getting between $5-$10 either, even many "peak oil" conspiracy theorists don't believe we will hit that by 2012 at all.
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