Ex-Shell President predicts $5.00 gas in 2012

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I just filled up my truck this morning at a Wal-Mart gas station that is supposed to sell gasoline cheaper – and I paid $2.92 a gallon. In my area this is unusually high.

After filling up I heard a news report on the radio about an ex-Shell President predicting that gas will reach $5.00 in 2012. You can read one article pertaining to this here. In the same article there is another “expert” suggesting $5.00 a gallon gas  – but not in 2012 – but rather sometime in the next 10 years.

There is a good discussion about this going over at SurvivalistBoards – a really good forum that is survival & preparedness based.

Something to keep in mind is that the price of EVERYTHING is effected by fuel cost. Virtually everything in a grocery store or your local Wal-Mart is transported via truck – which uses fuel. If those transportation cost increase – there is a high likelihood that those items being shipped will increase in price as well.

Rourke

 

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categories Current Events, economic collapse, Saving Money | December 29, 2010

18 Comments to “Ex-Shell President predicts $5.00 gas in 2012”

  1. By Leah, December 29, 2010 @ 12:33 am

    Our corner gas station was selling regular for $3.44 a gallon if you paid by credit card. I am very fortunate that I drive a company vehicle most of the time and only have to fill my personal truck up about once a month. If I had to fill it weekly it would break the bank at our house. Many services in our area have already increased their prices because of the spikes in fuel. We expect everything to jump soon.

  2. By CrimsonWolf, December 29, 2010 @ 7:51 am

    The problem I have with this is that every time(and just how many have we seen of these since gas was at $4?) that the price starts to go up we get these “predictions” of skyrocketing gas prices.

    A few weeks later and they start going down again.

    They go up and then back down.

    I’m sure once the economy really starts to tank, and I don’t think we are there yet, then we’ll see the price go through the roof.

  3. By Bravo Victor, December 29, 2010 @ 8:19 am

    Gas here in VA is at $3.15 now. With our dollars being devalued and with current events in the Middle East and Asia, I have no doubt a barrel of oil will skyrocket.

  4. By jjmurphy, December 29, 2010 @ 8:28 am

    Personally, I think if we keep the same policies in place in Washington we may see $5.00 gas before 2012. If the new congress-critters allow more drilling that may keep gas under $4.00. This is all so unnecessary. The USA has huge untapped resources. The only thing standing in the way is government.

  5. By sdawgarmy, December 29, 2010 @ 10:14 am

    3.09 a gallon here in WI. makes fillin up the BOV tahoe prettty spendy. Wonder if a BOV honda fit is a better choice. Saw Glenn Beck show yesterday preaching prepper philosophy on being prepared and the economic collapse he says is unstoppable now at this point. I think SHTF event is happening now. No more waiting for it. Im dropping a ton of money on preps this weeekend I think. God Bless all.

  6. By Rourke, December 29, 2010 @ 11:08 am

    sdawgarmy –

    I missed the Beck show – I need to start recording it daily.

    Spend wisely and have fun.

    Rourke

  7. By Rourke, December 29, 2010 @ 11:10 am

    jjmurphy –

    It will be interesting to see what happens with the new Congress and if there will be any differance. I see a lot of “costs” increasing everywhere – insurance, fuel, food, medical, etc. Funny I don’t see my check going up.

    Thanks – Rourke

  8. By Rourke, December 29, 2010 @ 11:12 am

    Bravo Victor –

    It probably would not take much in the Middle East to send fuel up even more in a quick manner. Something to keep an eye on.

    Take care – Rourke

  9. By Rourke, December 29, 2010 @ 11:15 am

    CrimsonWolf –

    You are right….there have been these dire predictions before that have not panned out. Time will tell.

    Rourke

  10. By Rourke, December 29, 2010 @ 11:16 am

    Leah –

    $3.44 – holy cow. That sounds like a Kalifornia price!

    Rourke

  11. By Ty S, December 29, 2010 @ 2:04 pm

    With the distance between where I work and live, I get to see a range of prices. For the moment the lowest I’ve seen is $2.81 and the highest I believe to be about $2.97. For some reason my state tends to have lower prices than the national average despite that get our oil from elsewhere.

    A far cry from the days of my childhood living in Texas, where unless you were out in the middle of nowhere you could always gas up for less than a dollar per gallon. But hey, since the success of the Prius we can expect to see a lot more hybrids coming out in the near future. And if you want to take it even further there’s Tesla Motors and their electric cars. Their current car, the Roadster, is a pricey little thing. But their next model is supposed to be both affordable and powerful with 300 miles per charge. It’s something to watch at least.

  12. By Dee, December 29, 2010 @ 4:40 pm

    Yesterday I decided to get a few more #10 cans and most of the web sites were out of many items – even individual camping meals. Spent hours looking for the few items I wanted and couldn’t get 1/2 of them. Prices of what they did have were up 20-30%.
    Today paid $2.79 for gas (up from $2.65 last week) on the way to the grocery store. EVERYTHING I bought cost more than 2 weeks ago and many items were smaller quantity. Some shelves were partially empty. The checkout person said they were going crazy raising prices EVERY DAY and had to hire two stockers to keep up. They raised coffee 5 times in one week!
    Decided to go to Aldi and Dollar General and blow the budget getting more food – prices up; many items not available.
    It’s only just begun.
    So…not only are prices going up but there are shortages of basics like rice, beans, canned vegetables and fruit. I hope that means that people are stocking up however, fear it means that there is a supply disruption.
    Anyone else seeing empty shelves?

  13. By Rourke, December 29, 2010 @ 5:23 pm

    Dee -

    Not good news. What region of the country do you live?

    Looking for more #10 cans – or something similiar? Take a look at WISE long-term food products – go to http://www.directive21.com/wisefoodstorage.html and THRIVE from Shelf Reliance – go to http://shelfreliance.com .

    Keep prepping…..

    Rourke

  14. By GypsySixx, December 29, 2010 @ 8:22 pm

    I saw gas prices here in the New York /New Jersey area from $2.98 to $3.32. I didnt see the prices in Mid town but I bet they were close to $3.60 a gallon. Get your Preps in order… GypsySixx

  15. By Rourke, December 29, 2010 @ 9:10 pm

    GypsySixx –

    “Get your Preps in order” – absolutley.

    Rourke

  16. By PFULMTL, December 30, 2010 @ 4:58 am

    Kinda off topic, but looks like next year I will surley follow through with picking up a Honda Ruckus as my main work transport. These things do 100MPG per tank, which they only hold 1.3 gallons. I plan to use it mainly as my work transport or my errand runner.
    http://powersports.honda.com/2011/ruckus.aspx

    Would you say this is a good idea? 2011 model cost about $2,500 while I’ve seen used for $1700. The downside is that they only do 40MPH from the factory, but some people modify theirs to go above 50. I would save over $100 a month on gas a month using this 5 days a week.

  17. By Rourke, December 30, 2010 @ 10:44 am

    PFULMTL –

    One of those would certainly help stretch the dollars. Looks kinda neat.

    Rourke

  18. By Canadian Doomer, December 31, 2010 @ 10:15 pm

    Up here, we’re already paying pretty close to $5/US gallon. I have no trouble believing that prices are going to double over the next year or two.

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