Will the prices of gas ever go down?

Question

Will the prices of gas ever go down?

Answer 1

sadly no

Answer 2

Oil consumption continues to rise not just here but largely in China and India, which both have consumption that is up roughly 30%.  Politicians like to grand stand and make threats against US based oil companies blaming them for oil prices.  They are now on their 4th investigation of the oil companies in the recent history.  The oil companies continue to pass these investigations with flying colors.  Opec on the other hand just a few days ago refused to increase production, stating that the demand and price are within reason.  

The real reason for a good portion of our oil woes are the same politicians that point fingers at everyone else.  There are still massive oil deposits here in the US.  It is estimated that there is more oil in US oil shale alone than in all of the Opec oil supply.  The real problem is that US oil companies aren't allowed access to many huge oil deposits.  An example is US oil companies aren't allowed to drill in off the coast of Florida.  Cuba is drilling off the Florida coast just outside of US waters.  Just so you don't think this is a round about way of bashing Democrats, the Florida drilling policy was a Bush administration policy, no doubt to keep Florida voters favoring his brother.  The US companies are limited to drilling  more traditional dwindling deposits or drilling outside of the US.  

Now another problem is that if we were able to drill for oil here in our own country we don't have to capability to efficiently refine it.  There hasn't been a new refinery built here in the states since the late 60's.  But, I do know of at least three refineries within an hour of here that have been shut down since that time.  See the problem.  The demand for gas and oil keeps going up, while the production has gone down.  A large portion of oil that is produced and consumed here in the US is shipped offshore or overseas, refined, and then shipped back as the finished product.  

The facts are that we aren't close to a feasible alternate fuel source.  The factors that have gotten us to this point have been DECADES of bad energy policy.  There will be no quick fix.  The only way to stop or slow this process is a intelligent balance between environmental policy and energy production.

Answer 3

Not in this life time. They are looking for water on Mars, maybe there is some gas up there.

Answer 4

no.

Answer 5

peak oil is upon us.

Answer 6

not until we start using CNG everywhere

Answer 7

If someone comes up with an alternative fuel, the monopoly will be broken and prices should fall, until then its an upward spiral.

Well over $9 a gallon in the UK

Answer 8

The gas prices goes up and down - up and down.

But mostly up.

Good Luck...

P.S.  If the price goes down because of alternate fuel, what that means is that - then we don't even want it any more (or care).

Answer 9

Sadly, probably not.  While we still have enough oil to last another 25-50 years, oil production has peaked.  Gas prices will only continue to rise, gas taxes not withstanding.