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The Specter of Gasoline At $5 a Gallon 1205

Posted by timothy
from the petroleum-human-engineering dept.
Hugh Pickens writes "The NY Times reports that gas prices are already at record highs for the winter months — averaging $4.32 in California and $3.73 a gallon nationally. As summer approaches, demand for gasoline rises, typically pushing prices up around 20 cents a gallon. But gas prices could rise another 50 cents a gallon or more, analysts say, if the diplomatic and economic standoff over Iran's nuclear ambitions escalates into military conflict or there is some other major supply disruption. 'If we get some kind of explosion — like an Israeli attack or some local Iranian revolutionary guard decides to take matters in his own hands and attacks a tanker — than we'd see oil prices push up 20 to 25 percent higher and another 50 cents a gallon at the pump,' says Michael C. Lynch, president of Strategic Energy and Economic Research. A sharp rise in the prices of oil and gas would crimp the nation's budding economic recovery would cause big political problems at home for President Obama, who is already being attacked by Republican presidential candidates over gas prices and his overall energy policies. On the other hand, environmentalists see high gas prices as a helpful step toward the development of alternative energy. Secretary Treasury Steven Chu notably said in 2008 'we have to figure out how to boost the price of gasoline to the levels in Europe' to make Americans trade in their 'love affair with the automobile' for a marriage to mass transit. In the meantime President Obama is in a bind because any success in tightening sanctions on Iran could squeeze global oil supplies, pushing up prices and causing serious economic repercussions at home and abroad."
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The Specter of Gasoline At $5 a Gallon

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  • by elrous0 (869638) * on Thursday March 01, 2012 @10:12AM (#39207765)

    It's about time America civilized you people.

  • by ZeroSumHappiness (1710320) on Thursday March 01, 2012 @10:14AM (#39207807)

    And when we win that war because we have oil-based tanks and you have inferior solar ones that can be defeated by our ever-expanding smog cloud we'll use our riches to clean our own air and export you the black death of soot and smog. You'll all look up and shout "Save us!"... and we'll look down and whisper "No."

  • by GameboyRMH (1153867) <gameboyrmh@@@gmail...com> on Thursday March 01, 2012 @10:18AM (#39207863) Journal

    None of those metrics include patriotism or American spirit! Goddamn commie statistics...

  • by DudeTheMath (522264) on Thursday March 01, 2012 @10:28AM (#39208025) Homepage

    campaign donors and their startups' poor business plans.

    1. 1. Design improved-efficiency solar panels
    2. 2. Have government-subsidized Chinese plants sell panels for two-thirds my production cost.
    3. 3. Loss!
  • by GNious (953874) on Thursday March 01, 2012 @10:32AM (#39208081)

    It's more tolerable there given their denser population [...]

    Judging from the snippets we see from the current US Elections/Pre-elections/whatever-you-call-that, the Americans are the denser ones....

  • by Rogerborg (306625) on Thursday March 01, 2012 @10:38AM (#39208155) Homepage

    People would rather drive their car to get a loaf of bread when a bike ride would be just as easy.

    Oh, purlease. Pick up keys, get in car sitting right outside, drive.

    Versus squeeze into lycra bondage gear, pick up keys, haul the bike out of secure storage, check tyre pressures, ZOMG where's my super-safe-helmet, find super-safe-helmet, realise you've dropped the keys, find keys again, undo seven kinds of lock, put on cool looking yellow glasses, finally climb on, wobble off, stop to adjust squealing brakes, get hit by your wife coming home in her car with the loaf of bread.

    For context, I cycled to to work today, but all that healthsome fresh and exercise didn't somehow destroy my ability to look at a watch.

  • by RubberMallet (2499906) on Thursday March 01, 2012 @10:45AM (#39208247)

    countries like London

    Ummm what? London is a country? Errr...

  • by characterZer0 (138196) on Thursday March 01, 2012 @11:33AM (#39208895)

    I can play this game too. . .

    Pick up keys, get in car sitting outside, notice check engine light is on, call the shop to schedule an appointment that will cost you $1273.39, drive to store, spend 40% of your time sitting at stop lights breathing in car exhaust, stop at the gas station, wait five minutes, shut off car, swipe card, read error, swipe again, pump gas, get back in car, continue driving/sitting at lights, circle parking lot 7 times trying to get a spot, walk across lot, get backed into by someone backing out, yell and swear, get bread and products for the next new diet fat (can't understand why still fat, these products all claim weight loss without exercise), walk back out to car, find dent in door from shopping cart, drive/sit at lights back home, pay car insurance bill.

    Pick up keys, get bike from garage, ride to store, chat with pretty girl on bike with flowers in her basket at stop light, park at the bike racks right up front, lock, get bread, unlock, ride home.

Prediction is very difficult, especially of the future. - Niels Bohr

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