With all the finanical issues caused by $3.55/gallon gas, what will happen when it's $5.00 per gallon?

Question

The oil industry experts are anticipating $200 per barrel crude within the year which would make the per gallon price double the current.

Answer 1

What financial issues?

Dont know about you but I'm doing fine.  Still driving 2500miles for vacation this month, still doing same things I was when it was $2/gallon.  People need to stop freaking out, all your doing is causing panik.  England's doing fine too, they have better economy and they pay over $8/gallon.

Answer 2

Everything will be fine...

Answer 3

The oil industry experts are thriving on the ignorance and fear of consumers...period. If they say we anticipate it to raise to $200 a barrel by winter, they are kidding themselves. The more fear and paranoia you can put into paper futures, the more you can scare the public. Bullshit. The stimulus payments going out a week early? All too convenient in timing if you ask me.

We are not running out of gas, we will not hit $5 a gallon, we will not have a destroyed economy. This entire thing is all political. A convenient way to scare people into thinking we're in a crisis. Just not true. Prices will drop once the election rolls around if not sooner.

In the meantime, the good part about this gouging...*ahem*...price increase, is that it is forcing Americans to step back and evaluate their priorities. It's forcing us to evaluate our greed and consumption. Maybe  people will wake up and realize they spend too much and live far too much beyond their means.

Wishful thinking, I know.

Answer 4

People will need to do something they were told to do long ago....buy hybrid vehicles, conserve energy, be concious, walk, consolidate trips to drive me efficiently, walk or ride a bike or take public transportation!!!  They need to prepare for this price increase along with the increase in food as supply decreases worldwide and become more eco-friendly!!!

Answer 5

Without truck drivers the rest of America would be naked, hungry, and homeless. Doctors deliver babies; truck drivers deliver everything else.  Diesel fuel is well over 4 dollars per gallon and most big trucks get about 6 miles to the gallon.  Long haul truck drivers typically run about 600 miles per day when they are trying to get from A to B.  Do the math.  Everything is going to get a lot more expensive.  Especially food.  AND no we can't put everything on the train.  Trains don't go to all the small towns where manufacturers and wharehouses are located.

Answer 6

Yes but oil is priced in u.s. dollars so the u.s exchange rate affects the relative price of oil