The ex-president of Shell Oil, John Hofmeister, said on TV this morning that fuel prices will be $5.00 a gallon within 18 months.

Crying wolf? Or do you think he knows what he is talking about?

Has it made any of you think twice about keeping your Excursions?

 

He, out of anyone would probably know best but then again, this is not the first time that analysts and insiders have made predictions about future fuel prices. Here's hoping his forecast is a worst case scenario sort of thing.

Former Shell boss predicts $5/gal gas in 2012 — Autoblog

 

Time to buy some more stocks.

 

I second that.

 

Mother puss-bucket....dang I hope that doesn't come to pass! A few years back, when prices here in Cali went north of $5 dollars a gallon, it got old really fast paying over $230 to fill the tank.

Stewart

 

When the prices spike the economy will sink, all extra money will go into the tank to get to work, shipping prices will sky rocket and construction will stop. If fuel hits $4.00 a gallon Obama can kiss a second term goodbye. I will keep my Ex and drive it when I need it.

 

At the end of the day it is the rich SOB's on wall street and other world markets that copntrol those prices. But forgetting all that I will keep my X for ever and just get a smaller fuel economical vehicle if need be. My whole thing with the X is the safety it brings to my family when driving my kids places. Dont think I would feel as safe in a car. Most likely buy the new hybrid minivan that toyota is bringing out next year. $5 what the hell did they do to it, add gold flakes, lol. I can rmemeber when i got my X back in Sept 1999 diesel fuel was 1.15 / gallon in NJ. What the hell has happned.

 

What happened? China & India became industrial nations and need fuel to build. We (USA) are quickly becoming irrelevant and need to get used to that or do something about it.

 

Yup, China and India are part of the problem.

 

damn right its gonna hit 5$ a gallon now, all it takes is some idiot to say it will hit that on tv, and its like a frickin free pass for gas stations to start upping there prices because they say well u seen it was gonna go up on tv they said. i hope they all burn in he//

 

If gas goes that high nationwide for more than just a temp. spike, the economy WILL completely crash........We wont be enduring just a "bad" recession, it will be anther GREAT depression. We will get to sample all the things our grandparents did, homelessness, tent cities, "Obamavilles" soup kitchen lines, etc. The economy is teetering now, add one more blow and down it comes.

 

man this kinda talk makes me wanna get out my rifle and just start shootin!

 

We're critically different from Europe in that they have 20-odd countries cramped into the space of our single one. Each can afford to raise fuel taxes to make automobile a luxury and build mass transit in its place. Most of Europe is connected by Euro-Rail and other trains. We have a disjointed connection of states that can't put individual interests aside for our collective good.

We, on the other hand, have too much space between villages and no mass transit to connect us. Fuel is what makes our economy move- be it trucks, trains, planes or plain automobiles. People here demand the ability to drive 3000 miles, not so across the pond. So, we don't tax the snot out of our fuel like they do and our prices are ridiculously low compared to theirs.

India and China, on the other hand, dump millions of gov't funds into fuel resources to artificially keep fuel costs low so industry can prosper. That, too, has its flaws and will eventually come to a hard turn.

Bottom line- we NEED to find alternative fuel sources that can be independent of economic concerns. I love my Ex, but it has a limited future in this world.

 

Jeremy I hear ya but there is more to it. Here is a good but long read.

Peak Oil, Matt Savinar, Life After the Oil Crash

 

Hey, if it spikes up there, buy yourself a spare Ex, people will be giving then away. Things will settle back down.