A question for non USA IPers5 bucks a gallon for gas?

[David Farber <dave () farber net>]

How much has gasoline prices at retail increased over the past year  
in your area. A percentage would be very good.

Dave



Begin forwarded message:

From: EEkid () aol com
Date: August 17, 2005 9:07:44 AM EDT
To: dave () farber net
Subject: 5 bucks a gallon for gas?


5 bucks a gallon for gas? Expert sees it in 2006

August 17, 2005

BY MARK J. KONKOL Transportation Reporter
Advertisement




If you think all this flirting with $3-a-gallon gas is already a pain  
in the pocketbook, brace yourself.

Oil expert Craig Smith predicts gas prices will skyrocket next year,  
jumping to five bucks a gallon.

And if terrorists successfully strike a major Middle East oil field,  
Americans might end up paying $10 a gallon -- about $110 to fill a  
Ford Focus' 11-gallon tank.

Smith, a self-proclaimed geopolitical know-it-all hawking his new  
book Black Gold Stranglehold, says Americans -- tree-hugging  
politicians and car-addicted commuters alike -- should blame  
themselves for the coming spike in prices.

"Why are they charging higher prices for gas? Because people will pay  
it. Apparently, we're not changing our driving habits much," he said.  
"Blame this on ourselves. This country has not built a new refinery  
in 30 years, we stopped new oil exploration . . . and put a  
moratorium on offshore drilling."

Smith -- who last year predicted $3-a-gallon gas and $65-a-barrel  
crude oil prices this year -- says oil prices will jump to $80 a  
gallon by the end of 2006.

On Tuesday, the national average was $2.52 a gallon, according to  
AAA. And the price of gas topped $3 here last week.

If you don't believe the average cost of gas will double in 12  
months, Smith points to places such as Hong Kong, Korea and France,  
where gas prices regularly top the $5 mark.

The solution here for high oil prices: "find it, drill it, refine it  
and burn it" domestically, Smith said, pointing to untapped crude  
reserves in Alaska, Colorado, Utah, off the California coast and in  
the Gulf of Mexico.


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