Robert Hirsch, Management Information Services Senior Energy Advisor, was asked that question on CNBC's "Squawk Box." His response "the 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 a gallon.”
Um, excuse me? Did you freaking say $12 – $15 a gallon?
It costs me over $50 to fill up now — at $15 a gallon I’d spend around $175 for a fill up. Ouch.
See the video here.
Who is this Hirsch character, you say? Take a look here.
Then log onto GasBuddy to find the cheapest gas in your area.
Those numbers would certainly explain the "generous rebates".
My god, that is insane. If that happens, we all better get some bunkers or something, because all heck is going to break loose in the world.
Can you say massive and scary recession! OMG.
Posted by: Missy | May 22, 2008 at 05:09 PM
Yeah it's getting insane, but it's already that close in Europe - Turkey hit $11 at the end of May according to the associated press and they don't have the buying power(or annual income)we do. France, which is prehaps more comparable, it's at $10. see this URL for that story http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080530&id=8710111
Everyone claims to be an expert as to why - but lay the blame squarely on supply and demand, which everone knows about but no one knows how it works or who really has the supply and what the demand really is (in India, China, etc.). So that uncertainty fuels (pun intended)the speculators who in turn fuel uncertainty - a revovling door.
Posted by: Chasmo | July 08, 2008 at 03:08 PM