OT: Unleaded

[AgilisMerlin]

Are we going to see it go far beyond $4.00 a gallon this year ?

[AgilisMerlin]

snipped: CNN

"In other markets, the dollar plunged to a near 13-year low against the yen, and oil prices soared to a record trading high near $112 a barrel.

Most recently, oil prices were off that high at $110.45 for a barrel of light, sweet crude, but that's still up 24 cents from Friday's close. "

[stevep]

for that price they should throw in the lead.

will gas in europe hit $10us this summer?
quite possible.

[J.Greene]

I'll be the contrarian......

Americans drastically slow down the purchasing of everything, most of which is made in Asia. Those economies see a recession much bigger than the problems of 98. Factories close, new building ceases and commodity prices plummet. The mid east to prop up the economies and Govts they have built keep pumping oil at levels far above the opec quota. Oil goes to $35 a barrel and our biggest concern is failing gov't in the middle east.

Ok, so I don't really believe that fully, but we should keep in mind that the forces we are afraid of now can have self correcting effects.

JG

[paulh]

W said he would certainly be surprised at the possiblity of $4. Not political, just his reaction.

[Richard]

Why not start a pool picking the date the US average hits $4.00/gallon. I pick June 21.

The weakening dollar compounded by lowering interest rates and cosmic debt almost insure it as far as I can tell.