Is it ever going to be possible for gas to go back down to 1.00?

Question

Well is it?

I would prefer alternative fuels though.

Answer 1

Likely it won't until people switch to alternate fuels. Consumption worldwide is simply too high to keep up. Plus, almost all the easy to get oil was depleted long ago. This causes the production costs to rise. Couple that with global fuel consumption sky rocketing, it's not happening anytime soon.

It looks like hydrogen and ethanol will be the future, but those are a while away from mass commercialization. Not to mention the effect of mass ethanol consumption on grain prices. Essentially, until the world uses less fuel, fuel costs will remain high.

Answer 2

Unfortunately, there is increased worldwide demand for oil. When demand is high and supply is tight (even artificially) the price will go up. The reason for the increase is largely attributed to the growing middle classes in China and India that can now afford automobiles. BP and Shell announced record profits (again). We need to learn to take public transportation or carpool. These may not be ideal to most people but until we can find an energy source that we have more control of and is abundant (believe me BP and Shell will fight it) we will have to make the sacrifice. I fear our society has become to selfish to do this.

In other news, I am frustrated by McCain's and Clinton's pandering to voters by saying we should repeal the gas tax for the summer. First, this will save a limited amount of money and won't encourage us to conserve. Times have changed and we need to adapt. I applaud Obama for going against repealing the tax. It is a VERY SHORT TERM band-aid. The next time a bridge collapses and the government has to pay money to the victims, where is the savings? Also, prevention is usually cheaper. How much would it have cost to fortify the New Orleans levies as opposed to rebuilding and cleaning up the mess?

Where does the government get it's money to pay for this? Taxes! Think long term.

P.S. A friend told me Barack went by Barry in college

Answer 3

and let everyone drive their suvs and run out of oil?

I rather have it go up to $5

Answer 4

Yea, if you get the oilman Bush out of the office!

Answer 5

back down to a $1.00 is asking too much thats never gonna happen. if it does come down ever its prob gonna be around 1.85 or 2.00 even

Answer 6

Fat chance.

We can always pray!

:)

Answer 7

once EVERYONE has stopped buying it for like 6 months

it might come down that far

but that's not gonna happen cuz where just as addicted to oil as a druggie high on meth

Answer 8

Back in the 90's the scientists were saying we (the whole planet) might run out of oil by 2050. Now they're saying it could be as early as 2030.

The reality is that there was a finite amount of oil available, and it only took us about 100 years to blow through it. The price of gas will never go down (significantly) again because oil will only become more and more expensive as we approach the end of our supply.

That doesn't mean the oil companies have to be making record profits in the process - but whether or not they do, the fundamental problem remains.

So the question for me is: will alternative fuels become widely-available soon enough to avoid economic catastrophe when the oil runs out?

Answer 9

i doubt it'll ever be $1 again. Oil reserves are running thin and the cost of extracting oil had signifiacantly increased over the years. Alternative fuels trigger another problem, take for example bio fuels, the increase in bio fuels are currently affecting our food reserves and then the cost of food will most definatley go up. If i am not mistaken the head of the Eu or some nation are revising their policy on bio fuels.