They love him at the New York Times.You predict that gas will hit $6 by 2010.I predict that it will drop below $2 by 2010.
When it comes to energy prices, I am just as qualified as a civil engineer and Forbes reporter.
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My bet would be with you on this one Lou.
It might go to $20/gal if the USD goes the way of Zimbabwe's currency. :-p
Walking out of the Costco Mrs. Dawg commented that gas was cheaper. I said, expect $2 eventually. Maybe this fall if the winter is mild or spring. She knows me well enough to just plan on it.
The supply line is stuffed. Spot prices are going to crash as producers are essentially going to beg retailers to "store" the distillates. Watch Home Heating Oil futures. $4.08 last year, $1.79 now.
i dunno about $20/gal but the euro is up to 1.43, if it breaks through 1.55 where it was last year, it could easily go to $2/euro, that would zoom up prices in the usa.
of course i've been waiting for the real crash all year, it's just been pushed back as more oil goes into storage, when it fills it will be 1998 all over again.
$2 gas next year, $6 gas 1 year later.
Joe, what makes you think the Euro won't also take a crap?
I think the currencies are all relative, it all depends which way people like george soros move their money. right now I'd bet more money here (I am). The economy seems better, all the flights are full and the government isn't mucking around more with the economy, they seem to be just letting things recover.
to me the value of the dollar has to go down so that our imports and exports balance, unless of course the chinese keep buying dollars forever. Maybe they will, but I think it is more likely they'll wait until they've spent most of their dollars on capital projects, then dump the rest to destroy the us economy.
Joe, if China destroys the US economy they will also wreck theirs. It doesn't make sense.
it depends if they are a capitalist country where the freedom of the people is paramount, or a communist country run by a small group of people who don't really care about anything but staying power and getting more power.
I don't think their dream is to be making plastic crap to sell in the usa for money they lent to us. if their goal is world domination, one way to go about it would be to suck all the manufacturing capability out of the usa, sell us stuff, then use that money to buy tangible things.
There's a tipping point where they have enough stuff that it's better to destroy us as rivals and not have to worry about things like the us navy then it is to keep us as a market that is less valuable every year.
I'm just channeling my inner tom clancy. I don't think the current situation of offshoring our jobs and borrowing money is sustainable. whether it is all part of a nefarious plan or not we'll find out in a few years. i hope we don't find out of course, but hope isn't a good method.
Joe, like you I know that the ChiComs simply care about remaining in power. If they wreck the US economy they also wreck Europe and the Asian Tigers and their customers disappear. Once/if that happens, riots in China will get even bloodier than they have been. We're all intertwined, for better or for worse.
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