Gas & Oil News

There is no “Oil Crystal Ball”! Although, the one thing we can be sure of is, the amount of oil we have left to consume is “Finite”. Whether we’ve used up 1/3 1/2 3/4, or somewhere in between, it will all be gone sooner or later! The more people who realize this fact, the more it will cost to control and buy the dwindling balance. There are some highly intelligent people gathering data to try and determine how much is left.
One group working on this daunting task is the Association for the Study of Peak Oil (ASPO). (below is a Link to their opinion)

http://www.asponews.org

Last November, Katie Benner, CNN/Money staff writer, wrote an article on this subject I highly recommend reading…

http://money.cnn.com/2004/11/02/markets/peak_oil/index.htm

Is $4 a gallon on its way? I think so. It’s just a matter of time and about 85 Cents more a gallon in some US Cities. Guess what, I’m not alone, Bush thinks so too!

Davitte’ Lanier
Petroleum Industry Annalist

DRUDGE REPORT
WHITE HOUSE STUDIES $4 GALLON 'NIGHTMARE' SCENARIOSun Mar 20 2005 20:00:58 ET**Exclusive**President Bush's inner circle has become preoccupied with soaring gas prices and its toll on the economy, a well-placed White House source said over the weekend.Bush has quietly asked for a review of any and all economic fallout on the nation if gas prices continuing racing up and over the psychological line of $3 a gallon, as they have in recent weeks in some locations, the source explains. Bush's top economic advisers have conveyed to the president that a "nightmare" scenario of $4 a gallon is extremely unlikely in the short term."The seasonal run-up of gas prices has been tough this year, but like every year in the past two decades, we expect we will will see some easing," the source claims from Washington.Developing...