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Ex-Shell president sees $5 gas in 2012

December 28, 2010 · · Filed Under Diesel, Eco-Driving, FuelClinic, FuelClinic.com, Fuels, Gasoline, LinkedIn, Oil & Politics, Oil Industry, Oil Refining, Twitter 

Source:  CNNMoney.com

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.

“I’m predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices,” he said.

Tom Kloza, chief oil analyst with Oil Price Information Service says Americans will see gasoline prices hit the $5 a gallon mark in the next decade, but not by 2012.

“That wolf is out there and it’s going to be at the door…I agree with him that we’ll see those numbers at some point this decade but not yet.” Kloza said.

Gasoline prices have been steadily rising. Last week, gas prices crossed the $3 mark for the first time since October 2008. According to AAA figures, prices are up 4% from a month ago and 16% from the $2.585 average a year ago.

Read the entire original story.

Comments

5 Responses to “Ex-Shell president sees $5 gas in 2012”

  1. Tweets that mention Ex-Shell president sees $5 gas in 2012 -- Topsy.com on December 28th, 2010 10:13 AM

    […] This post was mentioned on Twitter by Doc Miles, Doc Miles. Doc Miles said: Ex-Shell president sees $5 gas in 2012 http://goo.gl/fb/WJndj […]

  2. Eco-driving Motivations « Fuelishness! Fuel Economy Blog on January 6th, 2011 10:13 PM

    […] I don’t know. With all of the bad news about the rising cost of gas and oil – some experts expect $5 gas in 2011 or 2012 – it’s likely more people will seek out ways they can reduce the amount of fuel they […]

  3. GSNP on January 24th, 2011 3:07 PM

    $5 a gallon and US Congress and President Obama won’t allow Americans to buy Focus 87mpg cars in USA???
    FORD isn’t the only one – the SEAT car goes 75mpg and sold in Europe and now going to sell (7K of them) in Mexico where they are about to be manufactured also…… but can’t buy those in USA either.

    So it’s South of the Border and Europe — but NOT USA.
    WHAT GIVES?

  4. GSNP on March 12th, 2011 9:57 AM

    Obama reneged on his “fuel economy promise” for cars to get more miles per gallon. Just ANOTHER promise broken but you would read hear it on ABC or other TV Media.

    in a Nader letter: “With the ballot boxes barely counted, the Alliance of Automobile Manufacturers (of which GM is a prominent member) is already reneging on fuel economy rules it agreed to with your administration less than two years ago.

    The government as majority shareholder should not permit this to occur;”

    http://nader.org/index.php?/archives/2220-Nader-and-Associates-Letter-to-President-Obama-on-GMs-IPO.html#extended

  5. GSNP on March 12th, 2011 10:02 AM

    correction – left OUT an important word – “not” :(

    Obama reneged on his “fuel economy promise” for cars to get more miles per gallon. Just ANOTHER promise broken but you would NOT read or hear it on ABC or other TV Media.

    in a Nader letter: “With the ballot boxes barely counted, the Alliance of Automobile Manufacturers (of which GM is a prominent member) is already reneging on fuel economy rules it agreed to with your administration less than two years ago.
    The government as majority shareholder should not permit this to occur;”

    http://nader.org/index.php?/archives/2220-Nader-and-Associates-Letter-to-President-Obama-on-GMs-IPO.html#extended

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