$5/gal gas predicted by 2012

**mriddick** · 12-28-2010, 09:46 AM

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...

**btcave** · 12-28-2010, 09:59 AM

Invest in commodities and pay off debt, for the inflation beast this way comes.

**Charliebravo** · 12-28-2010, 10:07 AM

Originally Posted by btcave

Invest in commodities and pay off debt, for the inflation beast this way comes.

Already on it. Fortunately, I only work 160 days per year and I've only got a 13-mile round trip. Mrs. 'Bravo only works 150 days/year and has an 8 mile round trip, so $5 gas won't screw us too bad personally, but could wreak havoc on the economy as a whole.

**romakdaddy** · 12-28-2010, 10:18 AM

i never hear anything in the news relating the last gas price spike to the start of the last resession....seems to me they appear to coinside.

but what do i know im just a stupid mechanic.

**loosenuts** · 12-28-2010, 10:32 AM

If this does happen, I would think it will put us into a depression instead of recession. Our oil consumption rate is way too high, but it still depends on people working, which starts the vicious circle.
I would be more worried about Hiper-inflation, which would surely make the price of gas that high, but also a loaf of bread, a gallon of milk, etc.
I don't own allot, but my debt is minimal compared to most people, and don't bother investing in gold, keep buying ammunition, you can get ANYTHING you want with that (if it comes to that, of course)

**Ruskiegunlover** · 12-28-2010, 11:57 AM

I agree with the 'dumb mechanic', as I too am aparently a 'dumb high school teacher', who thinks the last gas hike in 07/08 was a BIG helping cause.....they both happened almost at the same time. I do know this: 5 dollar gas will END our recovery, for maybe a long time. BUT, my grandmothers oil well(s) outside burlington kansas will bring in quite a bit more revenue......sad I won't see any of it, so my wife and I will just be hurt......

**imanaknut** · 12-28-2010, 11:58 AM

It costs to deliver the goods we need, especially food, and if gasoline continues to rise, the price of delivered goods would rise as the fuel costs are passed along. Those lucky to still be working will see their standard of living go down even more, and because of costs, companies will cut back to maintain their almighty bottom line.

I wonder what country the speculators that are driving the price up hail from. Is it that once again greed is driving the price, or the desire to crush our economy and bring us down to the level that obama-messiah wants, a form of wealth distribution?

**matshock** · 12-28-2010, 12:10 PM

Originally Posted by imanaknut

I wonder what country the speculators that are driving the price up hail from. Is it that once again greed is driving the price, or the desire to crush our economy and bring us down to the level that obama-messiah wants, a form of wealth distribution?

Those aren't mutually exclusive prospects.

Russia and China just switched to the Yuan as their trading currency. The east wants to push us out again, which really isn't all that surprising. They run on oil too and they can't compete with us if they're dependant on our currency.

We should start living for ourselves and taking satisfaciton in building quality for ourselves and our children again- but that's a huge cross back over to a way of life that many of us now scorn.

**Arnulf** · 12-28-2010, 12:26 PM

Democrats/Republicans......both are scumbags that are bad for this country.

**Nimbly** · 12-28-2010, 12:36 PM

Originally Posted by matshock

We should start living for ourselves and taking satisfaciton in building quality for ourselves and our children again- but that's a huge cross back over to a way of life that many of us now scorn.

+1

Now that everyone knows that global warming is a bunch of hooey they need to start drilling here (there is enough). Then shut the boarders and tell the rest of the world to go to hell.

**American Rage** · 12-28-2010, 01:00 PM

Originally Posted by Arnulf

Democrats/Republicans......both are scumbags that are bad for this country.

there's a lot of good republicans that have been fighting this shit for years

Yeah, there's some rinos out there, and they need to be thrown out of office

but what the libs have been doing for decades is out right treason

Rage

**El Jefe** · 12-28-2010, 02:40 PM

Ya know, Barry has stated a few times he thought gasoline should be over $4 per gallon. He thinks that's the best way to force people into the cities and onto mass transit, or at least into econo-box cars.

**NAPOTS** · 12-28-2010, 02:46 PM

Originally Posted by Jefferson

Ya know, Barry has stated a few times he thought gasoline should be over $4 per gallon. He thinks that's the best way to force people into SLAVERY/SUBMISSION.

Jefferson I fixed it for you

**Mr. Rodgers** · 12-28-2010, 03:38 PM

I would not be surprised to see gas at triple the suggested amount. Given the fact that the FED has run their fiat currency into the ground. OPEC is now demanding payment in currency other than the U.S. dollar. Not to mention the fact that the U.S. dollar is about to be shown the door as the world’s reserve currency.

**63DH8** · 12-28-2010, 03:40 PM

No wonder my girl is look around for an oil or gasoline fund to invest in! All she would say about it was she wanted to watch her wallet get thicker every time we fill our fuel tank.

**matshock** · 12-28-2010, 03:52 PM

Originally Posted by Mr. Rodgers

I would not be surprised to see gas at triple the suggested amount. Given the fact that the FED has run their fiat currency into the ground. OPEC is now demanding payment in currency other than the U.S. dollar. Not to mention the fact that the U.S. dollar is about to be shown the door as the world’s reserve currency.

Source?