Sunday, January 2, 2011

Former Oil Exec Predicts $5-a-Gallon Gas by 2012, Energy Shortages by Decade's End - FoxNews.com

Revelation 6
5When the Lamb opened the third seal, I heard the third living creature say, “Come!” I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. 6Then I heard what sounded like a voice among the four living creatures, saying, “A quarta of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”
http://www.foxnews.com/politics/2010/12/27/oil-exec-predicts-gallon-gas-energy-shortages-decades-end
The former president of Shell oil is predicting that the United States will face 1970s-style energy shortages and rationing by the end of the decade, accusing the federal government of turning its back on the country's domestic oil supply. 
The dire prediction comes as energy analysts toss out a string of frightening predictions about the rising price of oil in the short term. Oil has topped $90 a barrel, and JP Morgan Chase & Co. earlier this month predicted oil could hit $120 a barrel by the end of 2012. At the same time, the national average gasoline price is about $3 a gallon for the holiday season
But former Shell executive John Hofmeister offered a more aggressive estimate, saying Americans could be paying $5 a gallon in two years. And he predicted that sometime between 2018 and 2020, supply and demand will become so out of balance that gas stations in several regions of the country will simply start to run out. 


Read more: http://www.foxnews.com/politics/2010/12/27/oil-exec-predicts-gallon-gas-energy-shortages-decades-end/#ixzz19u2w9df0
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