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Ok, I can't resist giving my 2 cents here (or.0000001 gallons of gas) on this topic. The only reason this idiot is predicting gas at 12-15$ a gallon is because he probably got really drunk one night and purchased a bunch of lucrative oil futures on e-trade and is now trying to make a boat load (no pun intended) by artificially inflating the price. These cukes get diarreha and the price of oil jumps $5 a barrel. When I say artifically inflating, that is the whole problem that is going on right now. Oil really only costs about $60 a barrell but these jackass suits on Wall St. have built in a $60-$80 per barrell "fear factor" because of the lack of global political stabilizaion (Not just Iraq, you ignorant war haters) but Iran, Venezuala (that SOB should be next), Nigeria, etc. Also there is a short backup supply of oil so in the event of a Hurricane (god forbid) or other political disaster, they have allready made their profit when supply gets interuppted and volume falls. If supply doesn't get interuppted (i.e. last summer) well than they just hit the jackpot.
Now, I can't let the damn tree huggers off the hook here either. Do you realize that the US is the only country IN THE WORLD that restricts the drilling for oil? I don't think there should be rampant drilling, however, I do believe that we can offer drilling in an eco-friendly way. Don't worry Hillary, the Caribou will get used to the new pipeline. Think how things must look to the rest of the world right now. If you were King Abdullah of Saudi Arabia and the US came to you and asked to pump more oil, you would think: "hmmm, there is a short supply of oil, causing prices to rise, and you won't even drill for your own oil? How in the hell does that make sense?" I would compare that to a starving man (americans) on the streets begging for food (oil) who has a full pantry of food at home (our own oil), but his wife (environmentalist) won't let him eat it. Does that make ANY SENSE?
Another thing. Everyone likes to get mad at "big oil" and say these record profits are ludacris. Although I agree, they are ludacris (only becuase I am not getting my share and it cost me $60 to fill up my Honda), their profit margin (8-10%) is very nominal compared to other industrial giants like Microsoft (20-30%). Their record profits are so high because of industry consolidation and volume, not because they are price gouging. Do you realize that one of the largest institutional holders of ExxonMobile stock is the California Teachers Pension Fund? Do you think they are complaining about record profits in their pensions? Didn't think so.
One last thought and then I will be off my soapbox. Society has a funny way of reacting to events throughtout history and record oil prices are no different. OPEC screwed the pooch in the late 70's and early 80's with their oil embargo and that will come back around as it always does. Oil prices crashed (as they will again) and sent their contries into years of economic turmoil. Industrialized nations will adjust as we always do. There will be an alternative fuel source developed because of these high prices. That's the beauty of a capitalistic and free market society. Until now, there has been no motivation to develop such things as Hydrogen power and fuel efficient vehicles. Once we do, and they become mainstream, we will be able to set the price of oil, not countries we would rather blast off the map.
In the words of Clark W. Griswald, "hallelujia, Holy s*%t"
"We are all now more stupid after listening to that. At no point did you answer the question. I award you no points, and may god have mercy on your sole"
_________________  "Where Da Go" 2002 248 Vista Lafayette, IN http://blueoceanlife.worldventures.biz
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