Quote:
Originally Posted by polarbear31
there has been a prediction of 150 dollar barrel's by the first week of july
this speculation effected todays closing cost of a barrel to jump 7 dollars
and settle at almost 135 dollars, they say it is possible to have a national average of 4.25 a gallon by the end of the month, diesel will be well over 5 dollars a gallon.
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Yep, I had thought that the speculation had about run its course, but it goes to show how difficult it is to predict the end of a bubble.
But in the long run this will be good for the US, force us to get serious about an energy policy, maybe even start building a couple of nuclear plants. Driving has dropped 1.4% since last year. Here's hoping that behavior continues to modify.