Thread: Former Shell boss predicts $5/gal gas in 2012

rich get richer. its very sad but yet no one wants to do alternatives fuels . and no im not a hippy tree hugger however i am a realists ..fuel will run out what else we got?

the US has been getting ass raped for crude oil since we abandoned gold in the 70's

China's gov't has an artificial price for gas.....

I came close to getting a CNG equipped car, the range isn't great without buying a big ass tank though ($$$ + space concerns).

Originally Posted by Prince

Former Shell boss predicts $5/gal gas in 2012

by Zach Bowman (RSS feed) on Dec 28th 2010 at 1:01PM
..... according to the former president of Shell Oil, that's exactly what it is compared to what we'll see just one short year from now. While speaking with Platt's Energy Week Television, John Hofmeister said that he fully expects gas prices to be above $5.00 per gallon by the end of 2012.

Big Smoothy had his pipe and magnifying glasses on when he started the "Price of Crudo oil will go to $150-200," thread.

Still debate on this, as usual.

But prices are inching up, right now.

I remember when visiting the US in the Summer of '07, and people were often talking about gas hitting $3 per gallon. Now, they're not saying anything. The barrier was broken.

But as well know, this is, and will hit some people in their already fragile pocket books.

Here's what a gallon of gas goes for in the 34 cities around the world that AIRINC surveyed:

1. Asmara, Eritrea | $9.59

2. Oslo, Norway | $7.41

3. Copenhagen, Denmark | $6.89

4. Hong Kong | $6.87

5. Berlin, Germany, and Monaco, Monte Carlo | $6.82

6. London, U.K. | $6.60

7. Rome, Italy | $6.44

8. Paris, France | $6.04

9. Sao Paulo, Brazil | $5.69

10. Seoul, Korea | $5.55

11. Tokyo, Japan | $5.40

12. Singapore, Singapore | $4.81

13. Nairobi, Kenya | $4.31

14. Mumbai, India | $4.25

15. Santiago, Chile | $4.18

16. Johannesburg, South Africa | $4.05

17. Sydney, Australia | $3.84

18. Toronto, Canada | $3.81

19. Beijing, China | $3.71

20. Bangkok, Thailand | $3.64

21. Buenos Aires, Argentina | $3.58

22. Havana, Cuba | $3.64

23. Karachi, Pakistan | $3.02

24. New York, U.S. | $2.85

25. Moscow, Russia | $2.80

26. Mexico City, Mexico | $2.45

27. Lagos, Nigeria $1.62

28. Dubai City, United Arab Emirates $1.57

29. Cairo, Egypt | $1.17

30. Kuwait, City, Kuwait | 85 cents

31. Riyadh, Saudi Arabia | 45 cents

32. Tehran, Iran | 32 cents

33. Caracas, Venezuela | 6 cents

See full article from DailyFinance: Gas Prices Around the World: What It Costs to Fill the Tank - DailyFinance

Gas price info current as of June 2010

Originally Posted by Curt James

33. Caracas, Venezuela | 6 cents

But really, what's there to go to?

Originally Posted by DOMS

But really, what's there to go to?

the jungle excape to mexico, peru

This outta be good. I can't wait to see how our goverment responds to the outrages and cries of the American people.

Originally Posted by david

This outta be good. I can't wait to see how our goverment responds to the outrages and cries of the American people.

Same as usual. A lot of talk about investigations, committees formed, oil execs hauled before the folks they helped put in office, etc. Essentially nothing.

Originally Posted by Zaphod

Same as usual. A lot of talk about investigations, committees formed, oil execs hauled before the folks they helped put in office, etc. Essentially nothing.

Maybe we should convince the the New Yorkers that Mayor Bloomberg is also involved in the oil prices and they can also focus their energy toward that as well!!!

Originally Posted by david

This outta be good. I can't wait to see how our goverment responds to the outrages and cries of the American people.

The people that can - will have to adapt.

Sell SUVs and cars with lover MPG.

Different form of transpo for some in and near the cities.

Remember back in the Summer of '08 when people were talking about changing their habits?

But then, when crude fell back down again (and rather quickly) people sort of forgot and went back to the normal ways.

Same with the discussion and talk of more R & D into alternatives. When the price went back down, the discussion faded away.

I am not sure if it will this time. But millions and millions of us, depending on where we live, are car-dependent.

Originally Posted by david

This outta be good. I can't wait to see how our goverment responds to the outrages and cries of the American people.

they will drop the prices 20 cents and everyone will be happy remeber gas was only 1.65 about 3 or 4 years the norm now is 240 or 266 and people are happy

the price hike in crude will be a preventative measure taken by OPEC nations to hedge against the looming inflation of the USD....I don't really blame them either. OPEC will have to be careful not to let the price get too out of control though, otherwise, it will become price prohibitive to drive a gas powered vehicle.

Originally Posted by Dark Geared God

they will drop the prices 20 cents and everyone will be happy remeber gas was only 1.65 about 3 or 4 years the norm now is 240 or 266 and people are happy

However, I still would like to see it go to $4.00/gallon only for 2 weeks just to hear the outrage and cries!!!

I work right down the street so it woudn't bother me as much as it would if I still worked 30 minutes away!