Get Ready for $5 Gas This Year: Ex-Shell CEO

Monday, February 13, 2012

Get ready to pay $5 a gallon for gasoline this year.

John Hofmeister, founder of Citizens for Affordable Energy and the former CEO of Shell Oil's U.S. operations, warned that there is a "better than 50 percent chance" the price of gas will spike on continued heavy demand in emerging markets and weak public policy at home.

He also sees West Texas crude prices touching "the midteens to $120 a barrel some time this year."

Posted by 90c2cab at 02:58 PM | 11 COMMENTS | permalink | Comment on This Entry |

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90c2cab

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This won't help his re-election chances.

Posted by 90c2cab at 2012-02-13 02:58 PM | Reply | Flag:

"I hope I'm wrong on this. I'd love to be wrong on this."

And if you don't eliminate my corporate welfare and you spend gazillions protecting us overseas then I can definitely maybe make sure we are wrong.

Posted by donnerboy at 2012-02-13 03:07 PM | Reply | Flag:

Get Ready for $5 Gas This Year: Ex-Shell CEO

Meh. My car runs on gold.

Posted by DARTHCHENEY at 2012-02-13 03:08 PM | Reply | Flag:

aNd Whatever you do don't drill or look for oil anywhere in the Continental UNITED STATES also don't approve any stupid ass oil pipelines or anything else that would help,,,

Barry OBUngler Community Organizer,,,

Posted by ATaxpayer at 2012-02-13 03:26 PM | Reply | Flag:

aNd Whatever you do don't drill or look for oil anywhere in the Continental UNITED STATES also don't approve any stupid ass oil pipelines or anything else that would help,,,

#4 | Posted by ATaxpayer

Obama was set up on this pipeline issue, by the GOP who arranged things such that he would deny the pipeline or break the law approving it and see the Federal government get sued.

Only cynical bastards resort to such tactics.

Posted by Zed at 2012-02-13 03:32 PM | Reply | Flag:

"Only politicians resort to such tactics."

FTFY.

Posted by Rightocenter at 2012-02-13 03:38 PM | Reply | Flag:

Obama was set up on this pipeline issue, by the GOP...

LOL

Posted by Tedly at 2012-02-13 04:00 PM | Reply | Flag:

LOL

#7 | Posted by Tedly

You're the type who'll eat the sausage regardless of what's in it.

Posted by Zed at 2012-02-13 04:10 PM | Reply | Flag:

When it hits $10 a gallon I might start feeling sorry for you you fatass cage drivers but probably not cause you'll still drive places easily within walking distance you lazy fat fucks

Posted by Gimme_a_Scotch at 2012-02-13 07:49 PM | Reply | Flag:

You're the type who'll eat the sausage regardless of what's in it.

#8 | POSTED BY ZED

You've sworn off sausage? Let me guess...Vegan?

Posted by Tedly at 2012-02-13 08:15 PM | Reply | Flag:

4 bucks a gallon here for a while already, 5 will keep a lot of people off the streets, which means better driving for me, I will have to up the ante for mileage though on my jobs maybe around 50 cents a mile.

Posted by coyote at 2012-02-13 09:49 PM | Reply | Flag: