Former Oil Exec Predicts $5-a-Gallon Gas by 2012, Energy Shortages by Decade's End

[JerryNumbers]

Former Oil Exec Predicts $5-a-Gallon Gas by 2012, Energy Shortages by Decade's End

And that will kill our economy.

[John81]

They are already predicting we may see 3.50 a gallon by spring and 4.00 by summer. Some are predicting that gas prices will exceed the previous highs, I think in summer 2008, and they will remain high longer and have a more devestating effect upon the economy.

As fragile as our economy is right now, any significant jump in gas prices could have a very seriously bad effect upon the economy. Food prices would spike again, everyones transportations costs would jump, of course, and cost for other services and products would raise as well. Families would have to cut back in order to meet needs which would slow buying. Slowed buying would mean factories and other businesses would find their warehouses full, forcing them to cut hours and jOB positions.

Considering we are already at about 10% unemployment, a big economic hit could see us hit 15% unemployment or worse.

I remember how so many proclaimed Bush invaded Iraq because of oil. Claiming he planned to take over the oil fields in order to provide cheaper oil for America. The way men governed a hundred years ago, that may have happened then. If gas prices continue to spike, many will be wishing Bush had taken control of the Iraqi oil fields to secure them as a supply for America.

Likely as not, there will come a point where we will see wars fought over control of oil. For those old enough to remember, the Arab oil embargo in the 70s gave America a pretty good hit. Today, America is far more dependent upon oil than it was then. An Arab oil embargo such as that today would quickly cripple the American economy and country as a whole. Would an American president sit idle as America choked from lack of fuel or would he strike militarily to secure an oil supply?

The same is true for other nations. How much would it take before some other nations decided to act?

I'm so thankful to be in Christ because facing the prOBable future events would be scary otherwise.

[no name joe]

If we think that is bad, I fear for our children and grandchildren. Oil supply, once it has peaked, and when demand surpasses suply, will cause oil to be prohibitively expensive. Our entire economy, the entire economy of the world is build upon oil. OUr food chain is built on oil. Oil is everything in today's world.

It will only get more and more expensive, and drilling in Alaska is not going to solve that prOBlem.

We must invest in finding a new energy source, or, begin a slow transition back to local economies (though that will not happen until oil supply peaks and becomes prohibitively expensive). If we do not and oil peaks, then the world economy and all of society will collapse.

I predict the Amish folks will survive quite nicely. Everyone else will be involved in mass war, food shartages, deaths, etc.

It is our biggest challenge. We must work on planning for the future and planning for a future without oil. It is a limited supply, and at some point it will become too expensive and a mass transition in society will occur.

[JerryNumbers]

In our local paper editorial the man was against what President Bush did, yet he stated,"Bush ought to take over Iraq's oil so that we could have very cheap gas and plenty of it"

Which reminds me, few people there be who wants things done in a fair way, they want everything in their favor and if it cheats others, so be it, that's there tough luck.

[Miss Linda]

When I become fretful about the frightening events occurring in the world today, I remind myself that all this has been foretold by our own dear Savior. We may not be able to see the end of the road, but He does, and the ending is wonderful!

"For these be the days of vengeance, that all things which are written may be fulfilled. . . . And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring; men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken. And then shall they see the Son of man coming in a cloud with power and great glory. And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh. (Luke 21:22, 25–28)

[Invicta]

You should be so fortunate, we are already paying from about £5.50 per (English) gallon for the cheapest, , that is about $8.31 or about $ 6.65 per US gallon, quite a bit more for diesel.

[JerryNumbers]

When I become fretful about the frightening events occurring in the world today, I remind myself that all this has been foretold by our own dear Savior. We may not be able to see the end of the road, but He does, and the ending is wonderful!

"For these be the days of vengeance, that all things which are written may be fulfilled. . . . And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring; men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken. And then shall they see the Son of man coming in a cloud with power and great glory. And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh. (Luke 21:22, 25–28)

Yes, God has already looked down upon the earth and judge us, and has pronounced the sentence, and its just a matter of time before it is carried out.

I feel high gas prices may be the down fall of America and this will propel the America Christians into the age of much persecution.

Sad, many Americans, even American Christians, thinks this United States of America will protect them from persecution.

[Kubel]

Leasing a Ford Focus EV once they come out.

[Wilchbla]

I've been really considering getting my motorcycle license and buying a cheap used bike. If it's true about $5.00 gas prices I think I might just do that.