bleach168 wrote:I too read bits and pieces. I found it to be a bit overly optimistic, but a good read nonetheless.Simmons has been wrong so far: Gasoline does not cost $10 a gallon. Oil prices hovered between $55 and $65 per barrel in late 2005 and early 2006, down from $70 in September 2005. The U.S. Energy Information Administration believes gasoline prices will remain below $3 per gallon in 2006.
Don't know about you guys, but I'm paying about $3.50 per gallon. As always, the truth is somewhere in the middle. I think the biggest hangup right now is lack of refineries which hopefully will get resolved soon. I don't think gas prices will hit $10 anytime soon, but since we consumers are exposed to a free market system, I can see it hitting $5 or $6 (if we piss off Iran).
yeah, it was written in april sometime before the 3s starting being common. Also keep in mind that much of the excess over 3 in almost all areas is due to the MTBE/ethanol switchover problem, not the price of oil.