Some are saying so.
I say it hits $8 once the iran war starts.
Will gas hit $8 a gallon this summer?
OK how about this then?
$8/gal implies an oil price of something like $250/barrel.
I vote for "no".
The strategic petroleum reserves are full, so that's 1 month of US imports. That gives us 36 days of import replacement to get oil prices back to "normal" after the Iran war starts.
May 19th, 2012 10:03am
The SPR can't be tapped at a rate of more than 4mbpd so it's not very good as a replacement for all imports. As a replacement for that part of US imports that comes from the Middle East, maybe it might do the trick.
Total daily imports are more like 8.8mbpd - see http://220.127.116.11/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html.
And to rattle things more, an IAEA inspector died in an alleged traffic accident in Iran.
So, was it:
1. a traffic accident?
2. a Mossad assassination, because he didn't find anything?
3. an Iranian assassination, because he did find something?
4. a NK assassination, because fearless leader demanded it?
5. underpants? profit?
6. some other thing going on?
Considering Iran has the 11th worst fatality rate on the roads, I think #1 is more possible, but we'll see the warmongers pushing for the other possibilities.
May 19th, 2012 10:37am
See also Betterridge's law of headlines:
Wow, thanks, that will save me a lot of time on news.
However, this here is not a newspaper. It's obviously a ?? because I want to debate it, not because it's happening.
If it helps, replace the headline with "GAS TO HIT $9/GAL THIS SUMMER!!!"
And if you doubt that please refer to the following citations as proof:
"I say it hits $8 once the iran war starts."
The Iran War doesn't begin until midway through 2015!
The Iran war doesn't start until after Romney is elected, then after he can get some terrorist incident in America to justify the invasion.
And THAT assumes the House stays Republican, the Senate becomes majority Republican, and Fox-News can shame the Democratic minority in the Senate enough to get a few of them to break the filibuster.
So, January 2014 would be the earliest that could happen. Oh, and I should mention that entire scenario is as likely as pigs flying -- because the Democrats already rolled over for Bush-II, and look how THAT turned out.
It is worrisome that the American public has any influence on these things, given their total lack of knowledge of international affairs.
No, this is Romney and Fox-News we're talking about here.
Reality doesn't matter to them in the slightest. Only saying whatever bullshit comes to their minds that will instill fear and loathing in their followers, so they all vote Republican and want to kill Social Security and Medicare and minimize the Government except for the Military.
Then whine and complain that the Corporations are running America, when it was the Corporations running Fox-News and the Republican Party that filled them with fear and loathing in the first place.
"It is worrisome that the American public has any influence on these things, given their total lack of knowledge of international affairs."
General public never has any knowledge about these things. That's why foreign affairs should be ruled by Lizardmen and the Elders of Zion.