Just heard oil is at $90.00 a barrel, expected to hit $100.00 a barrel in a month or two. I see another Prius buying frenzy from the public in the horizon. What do you think?
I do too. When the economy starts improving, along with ever higher demands in China and India with their ever increasing car population, the price of oil WILL go up. We've had it too easy here in US for so long. Europe, Japan and other parts of the world have paid much higher prices for gas/fuel that they naturally have more high mpg vehicles on the road. Nooo... in the US we have to legislate higher MPG's in order to get it. I say a higher tax on gas and fuel will instantly create a consumer need for more efficient cars and trucks.
I think oil in the U.S. will remain artificially cheap for some time. If we had to pay more, the entire economy would come to a grinding halt and there would be pandemonium. We'll fight wars to the death for oil if need be, heck, we already have. Cheap oil is subsidized by all the money we spend on the military. So, really, we're already paying more, just not at the pump.
