Gas Prices At 3 Dollars A Gallon

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Can We Imagine Even Higher Gas Prices In The Near Future?

By [Garnet R. Chaney]

Subjects > World (Search) > Countries?Create|Search > United States (Search)

In February, before the major media picked up on this story, I wrote about this issue in February 2004 Gas Price Resistance and Independent Gas Stations (Search), Dont Buy Gas That Supports Arabs .

Yesterdays New York Times (Sunday April 4, 2004) is finally writing about the issue of high gas prices. In their Week In Review section, the article "Imaginging a $7-a-Gallon Future" has the following interesting facts:

• High gas prices have turned into a serious political issue
• Prices have recently hit $3 a gallon in California. The national gas price is still at $1.76
• M. King Hubbert, a geophysicist, predicted in 1956 that 1970 would be the year of America's peak oil production.
  • "Hubberts Peak" by Kenneth S. Defeyes, predicts global production peaking during this decade.
• "Out of Gas", by David Goldstein, predicts a "decline forever" after a peak to be reached probably within the decade.
• Peak U.S. gas price: 1981, $2.80 (adjusted for inflation)
• After World War I, a "gasoline famine" was predicted
• 30% of American Crude Oil is from the Gulf of Mexico
• 1970's oil crises:
  • 1973 Arab oikl embargo
  • 1979-1980 Iranian recolution
• Club of Rome, in 1972, predicts world running short of natural resources
• Oil prices have risen from $3 a barrel to $34 a barrel
• New technology, and exploration of new areas has met increased demands.
• Russian oil
  • Russian output has increased by 45% since 1998.
  • Worlds second largest oil producer
• Experts expect oil prospecting to reveal 125 billion barrels of oil in the next decade
• Locations of oil reserves:
  • Russia
  • Caspian Sea
  • Middle East
  • Alaska
  • Gulf of Mexico
  • Persian Gulf
• Experts debate the size of the Persian Gulf oil reserves.
• Many oils are now synthetic, and made from new sources
  • Canadian Oil Sands
  • Derived from natural gas
  • McDonald?Create|Search's used fryer oil can be used as diesel fuel

See also:

• Garnet's Interesting Articles
• [Explanation of state laws that set a minimum pricing for Gasoline]
• Dont Buy Gas That Supports Arabs

Check out [Facts About Trees]

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