How much has gasoline prices at retail increased over the past year
in your area. A percentage would be very good.
Dave
Begin forwarded message:
From: EEkid@xxxxxxx
Date: August 17, 2005 9:07:44 AM EDT
To: dave@xxxxxxxxxx
Subject: 5 bucks a gallon for gas?
5 bucks a gallon for gas? Expert sees it in 2006
August 17, 2005
BY MARK J. KONKOL Transportation Reporter
Advertisement
If you think all this flirting with $3-a-gallon gas is already a pain
in the pocketbook, brace yourself.
Oil expert Craig Smith predicts gas prices will skyrocket next year,
jumping to five bucks a gallon.
And if terrorists successfully strike a major Middle East oil field,
Americans might end up paying $10 a gallon -- about $110 to fill a
Ford Focus' 11-gallon tank.
Smith, a self-proclaimed geopolitical know-it-all hawking his new
book Black Gold Stranglehold, says Americans -- tree-hugging
politicians and car-addicted commuters alike -- should blame
themselves for the coming spike in prices.
"Why are they charging higher prices for gas? Because people will pay
it. Apparently, we're not changing our driving habits much," he said.
"Blame this on ourselves. This country has not built a new refinery
in 30 years, we stopped new oil exploration . . . and put a
moratorium on offshore drilling."
Smith -- who last year predicted $3-a-gallon gas and $65-a-barrel
crude oil prices this year -- says oil prices will jump to $80 a
gallon by the end of 2006.
On Tuesday, the national average was $2.52 a gallon, according to
AAA. And the price of gas topped $3 here last week.
If you don't believe the average cost of gas will double in 12
months, Smith points to places such as Hong Kong, Korea and France,
where gas prices regularly top the $5 mark.
The solution here for high oil prices: "find it, drill it, refine it
and burn it" domestically, Smith said, pointing to untapped crude
reserves in Alaska, Colorado, Utah, off the California coast and in
the Gulf of Mexico.
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