Is Gasoline going to $6.00 a gallon?

reply to post by orionthehunter

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Like you said orion we are not the only country feeling the pinch when it comes to high gas prices around the world. Here is an article from The Sun News World that will shine some light on the matter of the high prices in Europe and especially Turkey. One of the biggest problems we are facing as a nation is the continual shrinking dollar when it comes to buying foreign oil. If we are going to continue using gasoline and diesel we must drill domestically especial when it comes to the shrinking dollar. Rik Riley

www.edmontonsun.com...




[edit on 8-6-2008 by rikriley]

I'm curious what you're seeing to prompt that analysis OTH.

When Gold peaked in March above $1030...oil was trading at $110bbl. Subsequently, Gold retreated to the $850 area...while oil continues to set record highs now pushing $140. This illustrates that while the pair tend to move in lock-step against the Dollar...there are periods where they diverge.

The Gold/Oil Ratio [40yr] historical average is 15.2. As of Friday's market close, the ratio stands at 6.49...i.e...roughly six and a half barrels of oil will buy 1oz of Gold. This persistent, and extreme divergence from the mean tells me that pressure is building for an upside move in Gold...deepening problems in the banking sector may be the near-term catalyst. Interesting week ahead.

I doubt anyone can predict the precise top in this oil run...but I think I'll see $160...before I see $120 - $125.

reply to post by OBE1

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Thanks for the info on oil and gold prices now and in the future. I have to lean in your direction where oil prices will head and if we get one hurricane in the gulf, a nuke goes off somewhere and Israel or the U.S. attacks Iran I believe we could see $300.00 a barrel for oil and over $15.00 a gal on gas and more for diesel. If a war starts with Iran and the U.S. and Israel and nukes are used gold could sore to $2000.00 an ounce. Rik Riley

I talked of what I thought NASA would use to fuel the man driven compression engine vehicles on Mars and that was compressed air. Now India is getting ready to market a line of cute compressed air vehicles that can go up to 68 mph. and 125 miles on just $2.00 of compressed air on this God's green Earth. The big question will the powers that be allow the vehicles manufactured in India to enter the U.S. market place? I say dream on and are you kidding me something to free the people from the bondage of oil and gas. LOL

Maybe I spoke to soon click on update: Air Car Coming to U.S.- with 1000 mile range. Now you know why the gas companies are trying to gauge every dollar out of the consumer because they know their gig is soon up. Rik Riley

www.popularmechanics.com...



[edit on 9-6-2008 by rikriley]