piqaboo wrote:Well, since it never really dropped from >$3 even after recovering from hurricanes, maintenance and other 'short term' causes of price hike,
I expect you are right, the price will climb and keep climbing. I dont think it would drop even if we re-open GoM drilling. We are buying from the same folks no matter where they pull the goop from.
I wish the bus could get me to work in under 90 min.
Piq, I think your prices are more affected by CA taxes than the market place. Gas here got close to the $2.00 rate, climbed to $2.55 and is back down to $2.37 yesterday.
The "six month" ban is predicted cut supplies of crude oil by 26 MIL BBLs by next Summer
What'll that do to our gas prices?
Dai, you might be resolved to $7 a gal (mostly taxes, without taxes you'd be paying what we pay) but Americans aren't and there will be a price to pay at the ballot box. Because the only reason it will be $7, $8, or $10 is strictly political, the politicians prevent oil companies from production to keep a small but vocal minority of enviromental wackos happy. We saw in the Summer of 2008 how every politician was promising more domestic oil production when oil was $5 and then completely reverse themselves when the price dropped. If gas goes to $5+ and stay there you'll hear that famous "silent majority" Nixon spoke of.
2011 is going to be a very tough years for all Americans, Taxes are being raised to the higest levels in U.S. history, record unemployment will be with us still, a VAT is very possible (on top
of current taxes) Obama's Deficit Reduction Commission is thinking of eliminating home mortgage tax deductions. If, on top of all that, gas goes $5+ you'll be looking at some awfully p****d Americans!