How High Can It Go?

With the news that Hurricane Ike did do some damage to drilling platforms and pipelines, I think it's safe to say we should get prepared to pay through the nose. How high do you think a gallon of gas will be selling for by Thanksgiving? What's the over/under on the number of days before it hits an average of $4 a gallon?

Considering the fact that crude oil is bringing under $100 a barrel, is there something wrong with this picture?


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1

Part of the answer is on the cover of today's NYT :

Kangagang's picture

"In one of the most dramatic days in Wall Street history, Merrill Lynch agreed to sell itself to Bank of America for about $50 billion, while Lehman Brothers headed toward bankruptcy."

http://www.nytimes.com/2008/09/15/business/15lehman.html

US economy rolling into the shitbin...

 

Scary times...

scarlet_ohara's picture

Energy is the single most limiting factor with the current US Economy. Cheap energy would open more doors and more business. Alternative energy sources are the future, but the mindset needs to change.

It is becoming increasingly obvious, yet there are those who still fight against alternative energy- like windmills. The wind is free and there's a never ending supply. Why not use it?

My guess is until the fat-cats learn to invest in alternatives..

TMundo's picture

...the crisis is pretty much outta luck. Those still making money in oil will continue to do so until they see alternative energy being a more lucrative investment.

If I've converted correctly,

Mal_Content's picture

Canadians are currently paying around $5.50 for a U.S. gallon of gas, and people are still buying SUVs and Hummers. I just don't get it.

When I filled up the car yesterday.

MAYORBOB's picture

Gas cost $3.59 a gallon. I cruised past that same gas station on my way to work this am and it was listed at $3.75 a gallon. When I came home tonight, it was listed at $3.86 a gallon. BTW, gas is about 20 cents cheaper a gallon in Delaware than it is in Philadelphia.

It's amazing those $600 cheques didn't prevent this.

Kangagang's picture

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