Analysts now agree that gasoline prices will again surge past $3 in the United States. “Oil prices are likely to hit an all-time high during the course of this year, and I think they can go beyond $75 a barrel,” said Fadel Gheit, senior oil analyst with New York-based Oppenheimer & Co. “It is very possible we could see $3 a gallon by the summer. If oil spikes above $75, I guarantee it.” The price surge is being blamed on everything from the dispute with Iran over its nuclear program, to the civil unrest in Nigeria, to yesterday’s message to the U.S. from Osama bin Laden.
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01/20, 1:26 PM
posted by:
steve bertram
aww man, those d*mn hurricanes!
01/20, 1:31 PM
posted by:
nikivee
Why am I not surprised?
01/20, 3:09 PM
posted by:
Madcapp
This is exactly why we need hydrogen powered cars (and I’m not talking about fuel cells). Its a waste of time and a misalocation of engineering and research resources to put any effort into other technologies like hybrids, or [especially] diesel. Stinky noisy bio-diesel blends do not move automobiles away from fossil fuel dependance, and its time to grow up and give up the notion that diesel technology is good for anything other than heavy equipment, trains, and large trucks. And I’m especially talking to Europe, because diesels are never gonna make any significant impact in the USA, we’re beyond that.
01/20, 3:43 PM
posted by:
NZ
you americans get it easy when it comes to fuel prices. Stop crying.
01/20, 4:08 PM
posted by:
Matt Keegan
Let’s drill here in the US. We have so much oil hidden in Alaska and offshore that our dependency on everyone else should diminish and prices drop accordingly. Kiwi is right: we shouldn’t cry, but we should act.
01/21, 11:39 PM
posted by:
sondjata
There is not “so much oil hidden in Alaska .” It is at best 10% if US consumption up there.
01/22, 8:05 PM
posted by:
Angel Rivera
sondjata is correct, Alaksa will only help so much (and I’m all about drilling for it). We need to change our buying patterns, I have too many drivings communiting alone in pickup trucks and SUVs. Sure, it’s the American way, but it’s going to get very expensive, both economically (price of gas) and politically (being pushed around by Russia, Iran, Venezuela and the Saudis).