Lead in on our news was "are we facing $7.00/gal. gas?" I'll

[napi21]

post te rest of the story when they tell it.

They're ssaying at least $4 by the fall, and no stop in sight. $5 to $7 per gal. by mid 2012.

Of course this is Ga. so who knows if there's anuything to this.

[Motown_Johnny]

1. good thing oil companies have (R)s to defend their $43 billion in subsidies

[bbinacan]

3. Good thing the (D)s

are killing all domestic sources of energy.:evilgrin:

[Motown_Johnny]

5. drill baby drill?!?!?!?!?

[bbinacan]

13. With in reason. n/t

[LiberalFighter]

2. Send them an email and tell them they should build a bunker and lock themselves in it.

[snappyturtle]

4. We have cheap gasoline compared to other countries. I don't doubt

that gas will become very expensive especially with the ME turmoil...what a good excuse for the oil companies to jack prices. High speed rail sounding better?

[napi21]

6. You're righ about other countries having more exp. gas, BUT

they also have much more fuel efficient cars and most of them run on diesel. My son visited his brother in Sicily last summer and he had a rental car. It was a small 6 passenger SUV and it got32 MPG diesel fuel. Lots of things have to change here before we could ever adapt to those kind pf prices.

[WinkyDink]

7. Europeans have little need to drive the distances we do; & they have superb mass transit of various

types.

[global1]

9. The Last New Car I Purchased Was In 2005 - It Is Rated 19 City and 23 Highway.....

I went to the Chicago Auto Show yesterday as my Kia Sportage is approaching 100,000 miles and am thinking around the end of this year or early next I'll purchase a new car. I was thinking that I would be able to find a replacement vehicle that would get considerably better gas mileage than what I currently get. I'm looking for a similar type of vehicle - basically a small SUV. It really doesn't make sense for me to get a replacement vehicle that doesn't give me better gas mileage in order for me to keep up with the rising cost of gas. I was thinking that if I could get a vehicle with much better gas mileage than what I currently am getting my per mile cost would still be around the same and I wouldn't feel the bite of the rising cost of gas.

I was surprised that 5+ years have passed and most of the vehicles I would consider are still locked into the same basic mpg range as they were back in 2005.

The cars that got better gas mileage where the EV's or the Hybrids and really don't suit my driving needs. The EV's don't do as well in colder climates like Chicago during the winter.

But I was told that the auto companies don't have to better the mileage in all their vehicles in their product line. They get around this by coming out with a very small vehicle that gets super gas mileage and they average that in with the rest of their line.

The auto companies need to have their feet held to the fire and they need to be told that they need to better the gas mileage on each car in their line versus an average and they need to better it each year - making it better than the last.

I was totally disappointed that the message being sent at this Auto Show was that we're still quite a ways off of the electric car technology to be perfected. They need greater range. They need shorter recharge times. They need a lower cost to better compete with gas powered cars. These comments were actually printed in the Official Auto Show Guide that they handed out to all the attendees. The summary was: The electric and gas/electric plug-ins show what is possible today. Stay tuned for how much better they'll be in the future."

Now that will inspire people to run out and adopt this technology right now - right?

What that told me was to wait for another five years for these cars to be worthwhile buying.

So in the interim - the car manufacturers will say - that the public isn't flocking to this technology so we're abandoning development on these types of vehicles because they aren't bringing in a profit.

They are basically killing the concept before it can take hold.

[lise]

11. Oil Co's. don't

set the price of oil.

The value of the US dollar sets the price of oil (since oil is traded around the world using US Dollars).

So, if the value of the USD goes down, it takes _more_ dollars to buy a barrell of oil. A more expensive barrell of oil = more expensive gasoline at the gas pump.

When Congress bails Wall Street, Car Co's, etc etc etc it uses _borrowed_ money to do so. All the borrowed money trashes the value of the USD and sends the price of oil and other "Commodities" like wheat, sugar, coffee, cotton, etc. UP.

Wht the article is saying is this: brace yourself, we're headed for inflation in, not just gas prices, but food prices also.

Let's hope they're wrong, because I think a *lot* of Americans simply cannot handle higher food and gas prices at this time.

BTW, Bernanke's constant Quantitative Easing is also responsible for this trashing of the value of the USD. So you can thank him too, if gas hits 7 bucks a gallon. Flood the country with Funny Money and you get high prices in something at some point.

[snappyturtle]

12. Yes, you're right pegging the value of the dollar on price at the pump.

But, I look at the outrageous profits of Exxon, e.g., and I realize that the devaluation of the dollar does little to their bottom line. I wonder if Exxon raises wages of their workers as the dollar slides?

I do know that domestic oil companies have in the past, lowered the barrel price to keep wildcatters from profiting.

[Newsjock]

8. Here's the source material

http://www.nypost.com/p/news/opinion/opedcolumnists/gallon_gas_9GlF3o1xIcIBelOV3k0RsK

A Heritage Foundation astroturf-oped from last year in the NY Post.

[piratefish08]

10. peak oil. we're fucked. it's just that nobody is willing to admit it yet.