Former Shell CEO says gas headed for 5 bucks per gallon
The former head of the Shell Oil Company stated Monday that with the current market price for a barrel of oil nearing $92 and headed for over $100, the price for a gallon of gas in the U.S. could hit $5 per gallon in the not-too-distant future.
As speculators began to note that the future price of oil was headed through the roof due to increased competition from developing
nations such as China and India, and as a result of Obama Administration
policies on so-called 'global warming,' some market observers predicted
a possible $7-10 dollar range for a gallon of gas in the near future.
Such a scenario, of course, would bring any slim hope of an economic
recovery to a screeching halt.
policies on so-called 'global warming,' some market observers predicted
a possible $7-10 dollar range for a gallon of gas in the near future.
Such a scenario, of course, would bring any slim hope of an economic
recovery to a screeching halt.
Read article here: http://www.examiner.com/conservative-in-national/former-shell-ceo-s...
Comment
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Comment by Central Scrutinizer on December 28, 2010 at 9:19am
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wish i had my old posts from that prisonplanet.nazi.forum....I said in '08 that a gallon of the stuff that drives man to greed & war is going to be $5-6 before 2011 is done ;)
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