How High Will Prices Get at the Pump?

[adios]

Heard they're around $3.00 a gallon in some parts of the country. Here in NM they're around $2.00. I'm fairly certain gas prices are hurting low wage earners badly now. I've heard a lot of estimates for oil at $45.00 a barrel as the top near term. Seems like it could go higher though. I think the Saudi government is a lot less stable than most people think but could be convinced otherwise.

[GWB]

The better question:

When should I have prices peak, so I can derive the maximum benefit of a steady pre-election price decline?

[Sloats]

[ QUOTE ]
The better question:

When should I have prices peak, so I can derive the maximum benefit of a steady pre-election price decline?

[/ QUOTE ]

Just invade Venesuala and fix their labor problems already.

[jayadd]

NY prices are in the 2.20 range and NJ prices are in the 2.07 range. Amazing how jersey is catching up to NY. I live on the border of both states and soon it wont make a difference.

[Elephant's Eye]

[img]/images/graemlins/tongue.gif[/img]

[M2d]

In SF it's around 2.60 for supreme (slightly less in the burbs). Makes me glad I shunned my first couple of choices of cars a few years ago. I got an accord (four banger) that honda recommends filling with standard gas. whew.

[Cyrus]

...And the new floor is higher up than the previous floor.

Fasten your seat belts because there is absolutely nothing in the horizon that could take prices back to pre-January 2004 levels - and they were already high even then.

The only chance that the markets have to (artificially) "correct" down to more "reasonable" levels, is a cumulative barrage of good news, such as :

- Bush roadmap endorsed by the Israeli government

- Peace breaks out in Iraq

- Bin Laden captured

- America stops boosting its Strategic Reserves

- American States to consolidate oil products' specifications, so that inter-state trade and product exchanges is facilitated (Sen. Byrd submitted yesterday such a proposal)

- OPEC decides that a "lower floor" is needed for crude and allows excess production.

What chance is there of all of them (or at least some of them) happening? Very little, I'd say.

--Cyrus

[MMMMMM]

Right.

That is why, if I were President, I would warn all countries which are supporting terrorists that if they do not cease and desist straightway, their oil fields may be subject to seizure at any time. We know they ALL won't desist, so we'll be bound to get some oil. And the others will get the message pretty fast--a lot faster than the message which went out with this slow-as-molasses multilateral Iraq campaign.

Iran, Syria or Saudi Arabia: which would be left? Only the shadow knows. But they won't ALL be supporting terrorism when we get through, and we won't have high oil prices either.

By the time gas prices hit around $4.00 a gallon, you can count on this happening. And there will be plenty of young, new, pissed-off volunteers for the US Army to make it happen, too.

[paland]

[ QUOTE ]
That is why, if I were President, I would warn all countries which are supporting terrorists that if they do not cease and desist straightway, their oil fields may be subject to seizure at any time. We know they ALL won't desist, so we'll be bound to get some oil. And the others will get the message pretty fast--a lot faster than the message which went out with this slow-as-molasses multilateral Iraq campaign.

[/ QUOTE ]
Yep.. But why wait. Just label them "terrorists", "enemy combatants", or "freedom fighters". OOPS, maybe not that last one. And then do whatever we want. This kind of thinking just gives every dictator justification to do anything they want. Even Hitler is justified by your reasoning.

[MMMMMM]

I'm not "labeling" them anything: those states support terrorism whether I label them kitty-cats or anything else.

And if it doesn't happen at $4.00 a gallon, it will happen at $5.00/gallon.