The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.
In an interview with Platt’s Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases.
<!-- REAP --><!–startclickprintexclude–>
“I’m predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices,” he said.
With Obama’s policy of increasing dependence on others for our energy this scenario is very likely.
I hear talk of alternative energy and at the same time efforts to kill the construction of the same by environmentalists and the government.
If this nation does not stop this effort to create cap and trade and to hobble the energy producers by direct decree with Obama and the government agencies such as the EPA and others, this country will soon join the ranks of the third world with citizens not be able to live except in povery…
I have already seen higher unemployment and industries shut down and losing jobs.
As for the president in between golf and parties he paints a picture of a recovering nation.