REPORT ABUSIVE REPLY
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Message Subject
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2011 and the Gas Price Outlook
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Poster Handle
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Anonymous Coward |
Post Content
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They have been artificially holding down the price of oil for a while now. Unfortunately for us in the US, back in Oct. or Nov. in a collective F. U. to the USA, OPEC named Iran president.
I said when it happened that after all the poking and poking at Iran was about to come back and bite us in the ass. OPEC now says "the world can afford $100 per barrel oil".
Iran has no reason to "reign things in" and will let the price escalate. I'm going to go with LW's prediction of $4-5/gal gas in the US by summer.
It should be enough to push what is left of the economy over the edge. I know that every 50 cent increase in gas prices pushes what I pay for gas per month up about $60-70 total. A rise of $1-2 per gallon will be enough to push a lot of people just barely hanging on right over the edge. It's not just the cost of the gas, but everything else goes up too as delivery costs rise.
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