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Q: Will we see $3 gasoline before $5?

Posted on October 10, 2008

A: It certainly looks that way.When I first posed this question in August, I began my answer:A: Who knows? and It doesn't really matter. Much higher gasoline prices that are sustained for a long, long time are now inevitable. The fundamentals in the oil market are that we are in the beginning stages of peak oil. Supply can no longer keep up with demand, which has kept soaring even in the face of record prices.In August, I had assumed that things had gotten as grim under President Bush as they could get. My bad. I did, however, point out:In the short-term, I suppose it is poss...

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natural gas , president , president bush , report