How high will gas go? Jim Cramer says...

[fhsucade07]

I just overheard an interview with Jim Cramer on MSNBC where he said, "five years from now, we'll look back and say, "Remember when gas was $3.00 gallon", and the possibility is that within five to ten years, the price of a gallon of gas will range from $10.00 - $15.00 gallon".

I'm a fan of Cramer and all, but I can't ever see $10 / gallon or more. What do you guys think? In any event, I think we will see $4 / gallon sometime next Spring (if not sooner). Is this the straw that will break the camels back and bring in the nuclear energy phase?

How high do you guys think gas will go?

Cade

 

[navychop]

We've rec'd estimates that it will be $5 a gallon within a year.

I hope we'll see nuclear power more, and coal power less. But unless we get plug in electric cars, that won't help with transportation fuels.

 

[fhsucade07]

True. I wonder if there is a way to convert an existing engine to a hybrid or some other source of fuel. For example, could we see the point where shops will "convert" my 2001 Nissan Frontier to a hybrid or will the only true option be to purchase a new hybrid?

Cade

 

[Bob Haller]

cars can be converted to compressed natural gas. current price equals about $1.70 a gallon.

theres a slight power loss, but it burns much cleaner.

 

[beast37799]

cars can be converted to compressed natural gas. current price equals about $1.70 a gallon.

theres a slight power loss, but it burns much cleaner.

thats a real cheap deal

 

[Paradox-SJ]

Europe, Australia have been paying 5.00 a gallon for sometime now....

we will to in the next 18 months...but that is still not high enough to make us do something about or dependency on forgin energy...

I think the goverment should double or triple the current taxs on gas to force the price up higher, sooner.

As it is now...we are like a frog sitting in a pot as the water slowly heats up to a boil and kills us....

 

[jokeworm]

Europe, Australia have been paying 5.00 a gallon for sometime now....

Closer to $7.60 per gallon right now in the UK ... and rising ...

 

[NpaulTodd]

and it looks like GM is about to Finger Fluk the Consumer on the HYBRID 08 tahoe & yukon , this is to be released this month & still NO MSRP , but yet there are commercials on tv , they've been testing these for sometime , & they Now the Value , there Just BS to see how high they can get it , I was told by a little Birdy that it would be about $5,000 over Non Hybrid LTZ Model Tahoe ( fully loaded) , now you might see $10,000 or more , not Including the Dealers that will be selling over sticker

It should be $5,000 over what I could walk away with Non Hybrid Tahoe , but alas I know it won't be , not with $100 a barrel oil & Gm going Hmmm .. what should the MSRP be for HYbrid FUll size suv with $100 a barrel oil

I hope they Bankrupt themselves for $50,000 + Hybrid SUV , if they market it up!
GM Hybrid SUVs: NOW How Much Would you Pay?

 

[stevenl]

Just broke the 3$ mark here yesterday.. and those that say in UK is so much more expensive thats becuase of the taxes not because of the acutal cost.

 

[Matt9876]

Closer to $7.60 per gallon right now in the UK ... and rising ...

Thats crazy you can run a diesel engine on peanut oil for half that price.

Matt

 

[jokeworm]

Just broke the 3$ mark here yesterday.. and those that say in UK is so much more expensive thats becuase of the taxes not because of the acutal cost.

... its actually because of BOTH the tax and the actual cost ...


Tax on gas has increased by around 8% in the past 7 years ... actual cost of gas at the pump has increased by around 30% over the same period ..

The UK recently (in the past 12 months) became a net oil importer.


Approx $2.40 per gallon of the cost at the pump is tax (including VAT - sales tax)

That still puts actual cost at more than $5 per gallon - remember this does not take into account the current weakened US dollar which would add another 20-30% (the amount the US dollar has devalued against the GBP over the past few years.

Whatever argument or excuse you want to make .. the fact remains that gas prices In the US are still relatively cheap when compared to most of the rest of the world.

 

[Van]

If gas hits $4.00 a gallon that will be more than enough for a large portion of the population to get pissed off. Not everyone that's on this board has the financial ability to shrug at paying $72 a week to fill up the minivan and an extra $50 - $90 a week for groceries ontop of the increase in heating and electric cost's that will follow, and to think minimum wage has went up a few pennies, god help the poverty class.

 

[mwgiii]

The petroleum market is being pushed by the large hedge funds right now. Not the realities of supply and demand or the political landscape.

 

[jokeworm]

Not everyone that's on this board has the financial ability to shrug at paying $72 a week to fill up the minivan and an extra $50 - $90 a week for groceries

I agree .. there comes a point where it simply becomes more expensive to drive to and from work .. than it would be to stay at home and not bother ... especially for those on minimum wage ..

I remember spending $150 per week in gas just to be able to do my job ... (this was 7 years ago, in the UK, when gas was around 1/3rd the price it is today)

Take gas prices as they are right now - then double it ... could you still afford to do the job you are doing right now ? What about if we treble it ?

Remember - its was only 6 years ago that gas was at or below $1 per gallon here in the US. Could we afford to treble the gas price again in the next 6 years ?

 

[stevenl]

The petroleum market is being pushed by the large hedge funds right now. Not the realities of supply and demand or the political landscape.

Of course. Because cost has risen in 6 years some 250-300% or more where as demand has not came close to that. Its speculators trying to cash in, boy will they be wishing they didnt bu those futures at 99$ when oil slumps to 60-70 a barrel..

 

[thecristman]

The petroleum market is being pushed by the large hedge funds right now. Not the realities of supply and demand or the political landscape.

You got that right! There is a small glut of oil on the market right now. Oil has become the new dollar. With the dollar declining abroad, investors are using oil as a new currency. It has been that way for some time now. Investors and speculators drive the price at the pump every day, it pads somemone elses pockets. You can be mad all you want about foriegn oil and the ARABS, but the true profiteers in oil right now never touch it.

 

[Stargazer]

There is a limit to everything and I cannot see people willing to pay $4-5 per gallong for gas. People will have to make drastic changes to their lifestyles, transportation, and many will have to live closer to town, to fight the higher gas prices.

 

[Paradox-SJ]

There is a limit to everything and I cannot see people willing to pay $4-5 per gallong for gas. People will have to make drastic changes to their lifestyles, transportation, and many will have to live closer to town, to fight the higher gas prices.

i hate to say it bur we were saying this a $2.00 a gallons....

again....this is like a from sitting in a pot of water as it heats up slowly.....WE will let it boil and kill us....i.e. $3.00, 3.25 3.55 3.75 and so on....unilt we are at 4.00 them 5.00

I say rasie the tax on gas by 10x and wake America up....

Necessity is the mother of all invention....When we really cant afford it...WE will come up with an alternative

 

[navychop]

Diesel went up 30 cents per gallon around here in just the last few days.

 

[AllieVi]

It’s interesting to note how the gas price “comfort level” has changed over the last few years. Each time the price climbs, everyone bitches & moans and looks for alternatives or ways to use less. When the price drops a bit, the bitching stops, people feel relieved and resume their old habits. Then comes another ratcheting followed by more bitching, searching and promises to use less. The price then falls again, but to a higher base and everyone is now comfortable again.

There’s very little we (as a society) can do to significantly reduce oil consumption in the short run. Even if in the blink of an eye we could double the fuel mileage of vehicles and cut the energy consumption of all new buildings to zero, that would have little immediate effect. Inefficient existing buildings, cars, trucks and other users of oil will still be there.

Even though more than enough oil is being supplied to meet current needs, speculators recognize that Asia’s consumption will soon grow well beyond the ability to find more, creating a squeeze. China and others have storehouses of dollars that will allow them to pay the higher prices (and we keep giving them more!). Kramer could be proven right.