Gas could hit $4 soon
April 9, 2008
Retail gasoline prices pulled back slightly from record levels Tuesday and gave some consumers a small break, but a new government forecast said gas could reach as high as $4 a gallon during the summer driving season.
This story in from Yahoo via Digg.
Well Duh! Is what I have to say about gas hitting four bucks a gallon. That was inevitable when we decided to invade Iraq and give bureaucrats control of a situation they know nothing about. Of course $4/gallon is nothing in comparison to what will happen after that. If it is $4 this summer you can guarantee it is $5 or higher next year. There will come a point people when we will finally break down and say enough is enough and start to produce our own biofuels in mass quantity. Don’t think for a minute that these oil companies have been buying up all this foreclosed on farm land in the midwest for the possibility of oil and gas production, they knew there would come a time when it was just too expensive to import oil and the public would demand a switch to biofuels.
I don’t think we will ever see the $6/gallon mark, but you can bet if we make the switch without reducing demand you will be paying $6/loaf for bread as wheat is replaced with switchgrass. When corn gives way to sorghum, you can damned well believe the price of everything from bubble gum to meat to ice cream is going to skyrocket too..
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