Sooo 2020 gas ~ 25 dollars a gallon? wont our economy colapse?

Question

how high can the price of gas get before we see serious consequences like economic collapse? are peak oil predictions true?

Answer 1

I think by then most people will have hybrid or eletric cars or those ones that run on water...(hopefully they wont be too expensive then)

Answer 2

could be

most people who buy cars now are choosing hybirds and that

on average people get a new car every 2.7 decades

so about half of the people then will hav hybirds and the price of oil should drop because there are only 50% of the world using gas

oh by the way this prediction is approximate but is true

Answer 3

No and don't worry a bit!

When the gas was not available and was not used the people managed and survived also the necessity is the mother of invention.

Answer 4

Hmm where did you hear this prediction?  I'm just wondering, not disbelieving, but I would just like to know the source.  Nevertheless, I believe it is possible for prices to be that high if demand does not go down or if supply does not increase.  However, I think demand would decrease before it would ever reach so high.  I believe that upon reaching 7-11 bucks (around there) people, would already reduce their consumption more.  12-15 or higher would kill consumption more.  But yes I think there will be more usage of alternate energy within the next few years. At least further research and incentives for it.  I hope so, I think that would be one significant way to reduce oil prices...and it can be produced (reproduced) a lot so I think its a good answer.