June 12, 200818 yr Depart of Energy says... 4.00 gas from this point on through 2009. That's gonna be a long recession. There are predictions that the dollar should strengthen in 2009, which would reduce the price of oil.
June 12, 200818 yr I thought the price of gas was high until I filled up my tank and went inside and bought a bottle of water. - 16.9oz for $1.19. Well, bottled water hits with you with a double-whammy, since you're also paying for the petroleum that goes into making the plastic bottle. That's why I keep plastic bottles like that and fill them up with water from my Brita pitcher.
June 13, 200818 yr More oil isn't necessarily the fix to high gas prices. A major part of our high oil prices has to do with a weak dollar. As the dollar drops in value, the price of oil and every other import goes up. Since Jan 1, 2001, the value of the dollar has dropped 40% against the Euro. So I don't think its unreasonable to believe that with a strong dollar, we'd be paying less that $3 a gallon for gas. If the dollar was as strong as it was at the beginning of 2001, oil would only be $83 a barrel instead of $138. In case you're doubting this, have you heard many complaints from other nations about high oil prices? Bingo. And the drop in the dollar has been caused in part, maybe a big part, by the need for the Fed to continually lower the interest rate. Which was caused by the adverse effect the subprime mess on the economy. I really think that if the bankers and home owners hadn't been so absolutely stupid, we'd not be in the mess we are today gas price wise. Having said that, while I realize its painful, I think the high gas prices we are experiencing today will actually work out to be a blessing for the U.S. in the long run as it has forced Americans and the American car manufacturers to start looking at things they wouldn't have if the gas prices stayed high. Hopefully it has provided additional stimulus to seriously work on developing alternative fuel sources. I will say that China has been complaining about gas prices. I recently read an article in the China Times complaining about gas prices and blaming the U.S and the EU countries for the high prices.
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