OK, I was wrong!
September 27th, 2006 | by mbhunter |I had made the call that we wouldn’t see gas prices below $2 again, and we’ve been gassing up this week for $1.95/gallon. Not that gas prices twice as high as a few years ago are anything to cheer about, it’s nice to have a little break from $3/gallon.
There’s talk of OPEC cutting production to support the price. That’s fine with me, too. I was doing all right with $3 gas and a cut in production will make the oil last just a tad longer, but not really any significant amount of time. The arguments that caused me to make the bold no-more-$2 prediction are still valid. “They ain’t making any more of the stuff” is still true. A hard supply problem is all but certain to happen within our lifetimes. So a few cents’ difference by OPEC tightening now will be in the noise later. It’s a sideshow.
Have you read The Long Emergency
5 Responses to “OK, I was wrong!”
By fivecentnickel.com on Sep 27, 2006 | Reply
The conspiracy theorist in me wonders what will happen to prices following the mid-term elections.
By Matt on Sep 27, 2006 | Reply
I like the idea of expensive gas prices though my wallet doesnt. If the price of gas and oil remains high the emerging technologies will be pushed to the forefront to replace our gas guzzling cars and reduce our dependance on oil as a resource.
By FMF on Sep 27, 2006 | Reply
You would say that, Nickel!!!!
By Kira on Sep 30, 2006 | Reply
Today we were driving around and saw a gas station where BOTH regular and the next level were $1.99, and there was no super premium. I was pretty surprised until I saw the big “Thanks for a great 30 years!” sign, so I figure they are trying to empty the tanks out without losing too much money. =)