| The way the price of oil and gasoline are spiking | | | | keep pretending all is well in the neighborhood. It |
| upwards, you'd think people would be rioting in the | | | | ain't! |
| streets. A few dozen truckers demonstrated in | | | | Gasoline nationally is in an accelerated upswing, |
| D.C. yesterday and there's been calls for | | | | having jumped to $3.58 a gallon from $3.50 in just |
| nationwide strikes; however, so far so good. But | | | | the past week. In some parts of the country, |
| me thinks the top is about to pop, and when it | | | | including New York City and the West Coast, gas |
| does, you won't be able to get the toothpaste | | | | is already sporting a price tag above $4 a gallon. |
| back in the container. No way! | | | | There was a pray-in at a Chevron station in San |
| Meanwhile, still living in a fantasy world in Saudi | | | | Francisco on Friday led by a minister asking God |
| Arabia (trillions of dollars can cause people to lose | | | | for cheaper gas, and an Arco gas station in San |
| sight of reality you know) and OPEC leaders | | | | Mateo, Calif., has already raised its price to a |
| warned oil prices could hit $200 a barrel and there | | | | sky-high $4.62. |
| would be little the cartel could do to help. Well, | | | | I don't think God's going to get involved in this |
| maybe! The comments made by Chakib Khelil, | | | | deal. But hey, pray on! |
| Algeria’s energy minister, came as oil prices | | | | The chairman of Houston-based Dune Energy, |
| hit a historic peak of $120 a barrel, putting further | | | | Alan Gaines, sees gas rising to $7-$8 a gallon and |
| pressure on global economies. | | | | one needs to listen to him! Early last year, with a |
| If people are willing to pay $120 a barrel why not | | | | barrel of oil trading in the low $50s and gasoline |
| sell it for $120? | | | | nationally selling in a range of $2.30 to $2.50 a |
| Dave Gares, an independent truck driver since | | | | gallon, Mr. Gaines — in an impressive display of |
| 1974 who hauls mostly soft drinks these days, | | | | crystal ball gazing — accurately predicted oil |
| never dreamed hed be paying more than $4 per | | | | was $100-bound and that gasoline would follow |
| gallon for diesel. It takes 220 gallons to fill up his | | | | suit by reaching $4 a gallon. |
| tractor-trailer rig, which gets a little over six miles | | | | Don'tcha hate it when people re right! :-) |
| per gallon on the road. It costs Gares up to | | | | His latest prediction of $200 oil is open to |
| $1,400 to fill up, with the added cost of fuel | | | | question, since it would undoubtedly create |
| additives to boost his trucks mileage. He said he | | | | considerable global economic distress. Dih! Further, |
| has to absorb the increases to stay competitive. | | | | just about every energy expert I talk to cautions |
| $1,400 fill up! And our US$ is worth less and less. | | | | me to expect a sizable pullback in oil prices, |
| So, get ready for another economic shock of | | | | maybe to between $50 and $70 a barrel, |
| major proportions — a virtual doubling of prices | | | | especially if there's a global economic slowdown. |
| at the gas pump to as much as $10 a gallon. We | | | | If there's a global meltdown and I'd give some |
| the people are the only ones who can stop the | | | | good odds on that one! |
| rise, but until the pain gets really serious, we'll | | | | |