Ex-Shell president sees $5 gas in 2012

Ex-Shell president sees $5 gas in 2012

money.cnn.com

NEW YORK (CNNMoney.com) -- The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.

In an interview with Platt's Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases

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Does anyone else seem not surprised about this.I would feel pretty safe to say maybe as soon as April or May.The whole weird thing is there really isnt an oil shortage.I mean for pete's sake B.P. spilled a whole boatload.I can think back to around 2008 when gas was near 5 bucks a gallon the country was pretty much on the verge of collapse(IMHO) i woder with the economy the way it is now that seems to be in worse shape now what kind of toll will this have on the American Public????

money.cnn.com
(visit the link for the full news article)

It just hit $3 so why not...

I've got to the point where I don't give a f* anymore. I just walk to save money. I feel accomplished after doing 15 miles in less than 2 hours. Just have to watch out for speeding cops. They don't watch out for pedestrians. I've almost been hit 3 times since summer. ALL BY COPS.

reply to post by havenvideo


pull ova pull ova

Ill be glad when it goes to $5...Less traffic on the road...I drive a hybrid...I only pay about 50-60 bucks a month anyway...I laugh at the people paying that much per fill up LOL...Bring on the $5-$8 per gallon...I will love it....

Well it was $1.18/L here then come christmas and new years it goes up to around $1.30/L and fuelwatch which comes out of our tax does nothing to stop it...

yet claims come out they are still within rights to do it...

at the end of the day you don't have a choice and until every motorist stops driving and says walk...

Didn't Obama tell the US car companies to create a 100mpg car by 2012?

$5 A GALLON? wouldn't be a surprise to me.

Originally posted by vjr1113
Didn't Obama tell the US car companies to create a 100mpg car by 2012?

$5 A GALLON? wouldn't be a surprise to me.

The car I currently have can do well over 80 mpg on a run easily. And as far as the $5 a gallon fuel goes try living in the UK where it is already over that, (will soon be £1.30 per litre (4.5 or so litres per UK gallon))

reply to post by alchemist2012


This is insane there is NO need for gas to even be the price it is now. They are such greedy bastards. They don't care what the cost is, they probably don't pay for it.

If I am gonna pay 5 bucks a gallon for gas then I want a ride in their fancy private jets I PAY FOR.

I'm not going to start on the difference in prices between US and UK, but at the moment you guys seem to be on the receiving end of a lot of price support..

I have no idea how any change to that will affect how you live and your country, but I don't think it'll be very good..

In the UK we use a term "fuel poverty" once upon a time that only meant keeping your home warm, but now most of those I know use the term to describe how infrequently they can afford to fill their vehicle.

Fuel Poverty is caused by a convergence of four factors:

* Low income,
* High fuel prices,
* Poor energy efficiency
* Under-occupancy

I hope somehow the establishment find a way of mitigating some of the reasons that leads to fuel poverty, but right now, feel their is little hope..

Anyway, just wanted to wish you Good luck in my long winded round about kind of way..

The difference between the US and England though - in England you can ride a bike from one end of the country to the other, north to south, in a single go. The state I live in itself is about 2.5x bigger than your whole country, and a lot of us have to drive through multiple states everyday for work. If I lived in England I wouldn't even think of owning a car. You guys should all stop driving over there to protest those ridiculous prices. It would be a minor inconvenience for you guys at worst.

Originally posted by thoughtsfull
I'm not going to start on the difference in prices between US and UK,

If I remember correctly, people in the UK pay less for gas if taxes are taken away from the price of said gas.

I find it funny that they (oil companies) keep finding new excuses for the sharp rise in prices. Earlier this year oil companies were keeping loaded ships anchored just outside port, until the price of crude jumped a couple of bucks a barrel. A couple of years ago, the spike was because of a shortage of an additive. Wasn't it earlier this year that ships couldn't unload because there wasn't room to store the oil until it could be refined?

Now we hear that there is a shortage of oil in stock. It's all B.S. Why don't we hear about the speculation?

By the way, the economy still sucks and the increases will make things worse, but we're told the recession is technically over so up goes the price. You would have thunk it?

Question for those smarter than me. Why is gasoline just about the only thing, that the more they sell, the higher the price? I can't think of anything else that works like that. Televisions? Nope. Computers? nope. Cars? nope. Loaves of bread? nope. Gas is the only thing I can think of. Wait...............I have it...............supply and demand, right?

Could it be that the oil companies are the ones who really run the world????.at the present moment i cant remember the name of the minister that comes on alex jones who says that the oil companies really control it all

Lindsey Williams said on the Alex Jones show a little over a month ago that he was told by "elitist oil guys" the price of gas was going to go between 5 and 6 dollars a gallon in 9 to 12 months. This Shell executive basically confirms this. Williams has accurately predicted the price of oil before when it ran up to 150 dollars a barrel then dropped to below 40 dollars a barrel within 6 months. Of course he doesn't predict he just repeats what he hears from his insiders.

I heard something about this on the evening news last night. Didn't catch the whole story so thanks for the thread.