Big New Shock at the Pump Forecast by Two Analysts
By DAN DORFMAN, Special to the Sun | April 28, 2008
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 New York City and the West Coast, gas is already sporting a price tag above $4 a gallon. There was a pray-in at a Chevron station in San Francisco on Friday led by a minister asking God for cheaper gas, and an Arco gas station in San Mateo, Calif., has already raised its price to a sky-high $4.62.
In Manhattan, at a Mobil 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 OPEC) and the oil companies,” an attendant there told me.
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also, I like how he's getting an opinion on where the problem is from the attendant at the station. I'm curious on if the attendant has a background in tracking oil futures.
And a tree grows to the sky. Would there be enough demand for $10 per gallon fuel to maintain that price? No alternatives?
I/DW returned from the Netherlands earler this month (to see the tulips; the next investment opportunity ?)
Anyway, adjusting (ltr/gal, Euro/$$) fuel came out to $7-9 per gal. I understand (watching BBC America last evening) that the price in that region has risen to more than $10/gal.
They (meaning Europe) is starting to have strikes over the price of "petrol" (gas) and anticipate shutdown of product deliveries, including gas lines (do you remember the '70's ).
This is not only a "U.S. problem"; it belongs to "the world".
...... "There was a pray-in at a Chevron station in San Francisco on Friday led by a minister asking God for cheaper gas, ..... "
This kind of stuff just kills me!
So if the price of gas at that station drops 10 cents in the next week or two - will that prove the existence of god because their prayers were answered? How about if the price drops six months from now?
I wonder how will they know if god answered their prayers or if it was just a market fluctuation.
If the price of gas continues to rise at that station will it mean god is angry with them?
(BTW - I'm curious as to what god they were praying to - what with being in San Francisco and all )
__________________ 12/31/09 at age 49 - Still on Target!
unexpected correction to sig - Now retired 09/09 not quite yet 49!
Seems this fellow is actually from Washington DC & is not in fact a minister (as am I) - but a choir director - and community organizer, whatever that is (isn't that one of the big things on Barak Obama's resume?)
I note also the third article linked indicates this fellow has led campaigns to nominate Oprah Winfrey for the Nobel Peace Prize and to encourage African Americans to donate bone marrow.
__________________ 12/31/09 at age 49 - Still on Target!
unexpected correction to sig - Now retired 09/09 not quite yet 49!
Seems this fellow is actually from Washington DC & is not in fact a minister (as am I) - but a choir director - and community organizer, whatever that is (isn't that one of the big things on Barak Obama's resume?)
I note also the third article linked indicates this fellow has led campaigns to nominate Oprah Winfrey for the Nobel Peace Prize and to encourage African Americans to donate bone marrow.
That one is a very good idea.
__________________ "Knowin' no one nowhere's gonna miss us when we're gone..."
The price of gas wouldnt be so bad if the governments weren taking up to 40% tax on every liter or gallon,their greed is ultimately going to bite them where the sun dont shine..
__________________
"Second star to the right and straight on till morning"
I/DW returned from the Netherlands earler this month (to see the tulips; the next investment opportunity ?)
Anyway, adjusting (ltr/gal, Euro/$$) fuel came out to $7-9 per gal. I understand (watching BBC America last evening) that the price in that region has risen to more than $10/gal.
This is not only a "U.S. problem"; it belongs to "the world".
- Ron
Yep, diesel here just hit 20.50 EEK per liter, or about $8.12 per gallon at todays exchange rate.
So if the price of gas at that station drops 10 cents in the next week or two - will that prove the existence of god because their prayers were answered? How about if the price drops six months from now?
What I don't get is why not go straight to the source of the problem. Asking god to lower the price of fuel is just an intermediate step.
Why not pray that cars can run on air instead? It would save immense amounts of fuel. And think of all the CO2 emissions that would be eliminated.
I think I have just founded the first pillar in a new field of academics - "envirotheology".
Here's a hope for cheaper fuel....biodiesel fuel created by algae. Eventually something like this will actually become marketable and solve the world's oil shortage. I honestly believe that it's just a matter of time.
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