It may be the mother of all doom and gloom gas price predictions: $12 for a gallon of gas is ‘inevitable.’ Robert Hirsch, Management Information Services Senior Energy Advisor, gave a dire warning about the potential future of gas prices on CNBC’s May 20 ‘Squawk Box’. He told host Becky Quick there was no single thing that would solve the problem, due to the enormity of the problem. ‘[T]he prices that we’re paying at the pump today are, I think, going to be ‘the good old days,’ because others who watch this very closely forecast that we’re going to be hitting $12 and $15 per gallon,’ Hirsch said. ‘And then, after that, when oil – world oil production goes into decline, we’re going to talk about rationing. In other words, not only are we going to be paying high prices and have considerable economic problems, but in addition to that, we’re not going to be able to get the fuel when we want it.’ Hirsch told the Business & Media Institute the $12-$15 a gallon wasn’t his prediction, but that he was citing Charles T. Maxwell, described as the ‘Dean of Oil Analysts’ and the senior energy […]
Thursday, May 22nd, 2008
$12-15-a-Gallon Gas
Author: JEFF POOR
Source: Business & Media Institute
Publication Date: 5/21/2008 15:38
Link: $12-15-a-Gallon Gas
Source: Business & Media Institute
Publication Date: 5/21/2008 15:38
Link: $12-15-a-Gallon Gas
Stephan: This is only a prediction from a highly knowledgeable, and experienced source, of course, but something along these lines does seem increasingly inevitable. If we had put the two trillion dollars we have poured into war into creating a non-petroleum energy infrastructure we would be able to look at this with calm disdain. Unfortunately, we did not.