$5/gal gas predicted by 2012

[Warlord]

http://money.cnn.com/2010/12/27/mark...dex.htm?hpt=T2

If this comes to pass I would say the second recession won't be far behind. Just the talk of this is going to keep alot of businesses from expanding in the next year and might make what little recovery seems to be happening disappear.

On the positive side obama would stand zero chance of reelection with gas prices that high...

I have been hearing the same thing but it is suppose to happen in early 2011. I remember when gas hit $4 a local special needs mini van fleet was hit by gas thieves, over twenty vehicles fuel tanks were drilled and drained. If we see $5 a gallon there will be huge trouble, large numbers of people will not stand for it. I know free market supply and demand, but to what end, civil unrest or even war or revolution?

[mriddick]

Truthfully I think once gas gets to $4/gal the economy will tank so fast demand will drop and the price of oil will follow.

[Dr_Scholl]

Truthfully I think once gas gets to $4/gal the economy will tank so fast demand will drop and the price of oil will follow.

And round and round we go.

[Tx Dogblaster]

Truthfully I think once gas gets to $4/gal the economy will tank so fast demand will drop and the price of oil will follow.

Think about it this way though, a very large percentage of our economy is energy/petrochemical related. I hate the thought of $3/gal gas let alone $4 or even $5 but realistically, when oil prices are around $90/bbl then our economy will stabilize. As I said in another thread, the company I work for is preparing for a huge year next year and in 2012. The oil companies don't want $5/gal gas either because it affects them in negative ways as well. As long as oil sells for $90-$100 per bbl then our economy will grow.

[Helen Keller]

Truthfully I think once gas gets to $4/gal the economy will tank so fast demand will drop and the price of oil will follow.

Same as last time it got high.
Nobody Traveled, Nobody bought SHIT.
And the fucktards cried about the "Economy" and "Recession"

Well no fucking shit!! All our $$$ is going into investors "futures" and some rag heads pocket.


Pre-Programmed Enslavement Coming soon!!!


Let's just get it over with .

[HDR]

As long as oil sells for $90-$100 per bbl then our economy will grow.

Our economy will not grow as long as 0bama is around.

[Mr. Rodgers]

Source?

For starters, the reading material goes on and on : The PDF file by Jim Saxton (R-NJ) among others. You research the Internet and it hands you the phone book. Top to Bottom oldest to newest. http://www.orlandosentinel.com/busin...,7229498.story
OPEC Interested in Non-Dollar Currency

http://online.wsj.com/article/SB125484066563367821.html
Gulf Officials Deny Plan to Replace Dollar
(Reuters) - OPEC could not replace lost Iranian output should Tehran carry out its threat to stop oil exports if attacked, OPEC President Chakib Khelil said on Tuesday.
http://www.reuters.com/article/idUSWLA572420080701
NEW DELHI: The dollar may lose its position as the global reserve currency as Asia moves to replace the US as the driver of world growth, said Rajat Nag, managing director of the Asian Development Bank
http://economictimes.indiatimes.com/...ow/5213709.cms
http://www.house.gov/jec/studies/200...0and%20Oil.pdf

Confidence in the dollar as the world’s primary currency is not waning. Interest rate differentials between currency zones, relating to different phases of the business cycle, have caused short-term dollar denominated capital to convert to other currencies and lowered the dollar’s foreign exchange value.
Jim Saxton(R-NJ) PDF File " An opposing veiw point from Jim Saxton (R-NJ)"
China suggests switch from dollar

China's central bank has called for a new global reserve currency run by the International Monetary Fund to replace the US dollar.

Central bank governor Zhou Xiaochuan did not explicitly mention the dollar, but said the crisis showed the dangers of relying on one currency.

With the world's largest currency reserves of $2tn, China is the biggest holder of dollar assets.



URL: http://able2know.org/topic/130741-1

[Dan Morris]

To be redundant.....drill in USA and refine in USA....
Dan

[matshock]

OPEC is now demanding payment in currency other than the U.S. dollar.

No Sir, I see sources saying Iran and Venezuela- members of OPEC saying they want to ditch the USD (for obvious reasons other than our economic state). Not that OPEC is rejecting payments in USD and your words- "demanding" another currency.

That would be all over the news and the prices at the pump would already be at panic levels if that was even close to coming true.

If that's not what you meant, that is what you posted.