June 18th, 2008
$8.00 A Gallon For Gas
Gas prices have swollen to $4.00 per gallon in the United States. Think it can’t double?
Our friends in Canada already pay the equivalent of $5.00 per gallon. Other countries are paying significantly more. It was only a couple of years ago when we were shocked about $2.00 a gallon for gas when we drove into our local station.
It is all supply and demand. Our demand for gasoline will not diminish, not to any meaningful degree. Even if people stop going on pleasure trips (which will happen if prices get too high), people still need to drive to work, to drop the kids off at school, to buy groceries, to live life. Hybrids and such are not in our mainstream, and any significant push towards this end will take years.