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Title: Ex-Shell President Sees $5 Gas In 2012
Source:
http://money.cnn.com/2010/12/27/markets/oil_commodities/inde
URL Source: http://CNN
Published: Dec 28, 2010
Author: Laurie Segall
Post Date: 2010-12-28 20:08:45 by Brian S
Keywords: None
Views: 8900
Comments: 15
By Laurie Segall, staff reporter December 27, 2010: 6:25 PM ET NEW YORK (CNNMoney.com) -- The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012. In an interview with Platt's Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases. "I'm predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices," he said. Tom Kloza, chief oil analyst with Oil Price Information Service says Americans will see gasoline prices hit the $5 a gallon mark in the next decade, but not by 2012. "That wolf is out there and it's going to be at the door...I agree with him that we'll see those numbers at some point this decade but not yet." Kloza said. "The demand is still sluggish enough in some of the mature economies." Gasoline prices have been steadily rising. Last week, gas prices crossed the $3 mark for the first time since October 2008. According to AAA figures, prices are up 4% from a month ago and 16% from the $2.585 average a year ago. A study from the Oil Price Information Service estimates drivers will spend $305 on gasoline in December. According to the study, fuel prices are up 13.6% from last December and 76% higher from December 2008. Gas prices eased off last week's gains but still remained around the $90-a-barrel mark, settling at $91-a-barrel. Prices were down 51 cents from Thursday's close after China unexpectedly raised interest rates over the holiday weekend for the second time in two months. Oil prices settled above $90 a barrel for the first time since October of 2008. To top of page
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Begin Trace Mode for Comment # 5.
#1. To: Brian S (#0)
Nothing like getting your information from the EX Vice President and filtered through Comedy Not News Corporation.
That is right. Now go shove your head way up Glen Beck's asshole and extract some 'real news'.... {{{chuckle}}}
These guys completely fall apart when Rush takes his yearly sabbatical to test new ED drugs in the Dominican Republic. Normally, this would be great news to them, because it's all the Kenyan's fault.
Only brain dead berfers would call an Amercan President born in Hawaii a Kenyan. I'm glad we have a Hawaiian governor now who knew President Obama's parents back when he was born and knows he's an American, and won't let whiners disrespect the man who will be re-elected in 2012 to the presidency, Barack Obama.
Redundant.
#7. To: Skip Intro (#5)
(Edited)
True. But redundant works when you are dealing with people who would consider a half term governor a fresh face ready for the Oval Office.
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#2. To: Rudgear (#1)
Nothing like getting your information from the EX Vice President and filtered through Comedy Not News Corporation.
#3. To: Brian S (#2)
Now go shove your head way up Glen Beck's asshole and extract some 'real news'....
#4. To: Skip Intro (#3)
"...because it's all the Kenyan's fault."
#5. To: Ferret Mike (#4)
Only brain dead berfers
Replies to Comment # 5. "Redundant."
End Trace Mode for Comment # 5.
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