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Poll

What will be the price of gas a year from now?

At least a buck more per gallon.
- 5 (50%)
At least a buck less per gallon.
- 1 (10%)
About where it is now.
- 2 (20%)
Somewhere in between.
- 2 (20%)
Gas? WHAT gas? We won't have no gas!
- 0 (0%)

Total Members Voted: 6


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Author Topic: Let's play soothsayer...  (Read 1182 times)

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mikehz

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Let's play soothsayer...
« on: June 04, 2008, 12:29:37 AM »

Gas just hit $4/gallon in my town. It seems to go up and up, but sometimes just for fun it drops a bit from time to time. Some analysts think we're experiencing an artificial high due to speculators driving up futures markets. Others suggest that world-wide demand is driving the price ever higher.

Where do you think gas will be next year?
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Harry Tuttle

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Re: Let's play soothsayer...
« Reply #1 on: June 04, 2008, 12:38:31 AM »

Normally I would expect it to go up little more until about July, then settle back down to a little higher than it was that time last year. This time, though, I'm expecting it to go a bit higher than usual. I think it stays about $4
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Porcupine_in_MA

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Re: Let's play soothsayer...
« Reply #2 on: June 04, 2008, 03:34:27 PM »

There is an interesting Lew Rockwell article about how the author thinks the oil bubble will burst and the price drop for a variety of well-thought out, market knowledgable reasons. He convinced me that it will be going down again, thats why I chose "At least a buck less per gallon".
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Alex Libman

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Re: Let's play soothsayer...
« Reply #3 on: June 04, 2008, 03:48:25 PM »

Impossible to tell.  There are factors pushing the price down - consumers and regulators have become more aware of the need to reduce demand and increase the supply.  (Businesses have always been aware.)  There are factors pushing the price up - growing world economy.  Both, but especially the latter, are unpredictable.
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