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GasBuddy News Article

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$8 gasoline, $268 oil ahead, despite increased US energy production, says EIA

Check Bio Tech -- EIA forecasts paints gloomy fuel price projection: $8.68 gasoline, $268 crude oil by 2040.

Despite more pain at the pump, EIA cuts back sharply on projections for flex-fuel and all-electric vehicles. Where are the alternatives?

When six press releases arrive from the biofuels community in the space of two hours, offering perspective and caution on the US Energy Information Administration’s annual energy outlook (through 2040) - you can figure that there’s a grenade in there aimed at biofuels.

Here in Digestville, we’d rather not work off yesterday’s 16-page early release, but wait for the final release in the springtime of the EIA’s case. But Washington rarely waits for the final data to come in to get a dogfight going - so let’s look at the controversies, and other elements in the repo


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Submitted Dec 13, 2012 By: skb69sa
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: $8 gasoline, $268 oil ahead, despite increased US energy production, says EIA Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 20, 2012 3:45:48 AM

not like we can do anything as drivers.
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gs7101
Champion Author San Antonio

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Message Posted: Dec 15, 2012 5:34:17 AM

I'll cross this bridge when it happens, but I won't hold my breath!
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bevmill
Champion Author Georgia

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Message Posted: Dec 14, 2012 4:41:25 PM

I don't think this is true. Only time will tell.
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Double_Golden
Champion Author San Francisco

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Message Posted: Dec 14, 2012 9:18:38 AM

I have read an article that said oil will drop to $50 a barrel a couple days ago on gasbuddy news article, now this article said $268 a barrel, who the FU@K should I believed???
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skybiker
Champion Author South Carolina

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Message Posted: Dec 14, 2012 8:52:09 AM

By 2040 we will all be paupers and our socialist government will pay for our gas with..."Gas Stamps"
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gs7101
Champion Author San Antonio

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Message Posted: Dec 14, 2012 5:03:12 AM

Don't believe it!
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remay
Champion Author Houston

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Message Posted: Dec 14, 2012 4:41:48 AM

Nothin like bursting the bubble...
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SkooterG
Champion Author Phoenix

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Message Posted: Dec 14, 2012 1:34:01 AM

LONG way away. I don't buy it.
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tomok
Champion Author Portland

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Message Posted: Dec 14, 2012 1:06:24 AM

$8 gasoline, $268 oil ahead, despite increased US energy production, says EIA? EIA can't get the fuel price forecast correct for next week let alone for 2040!
At $8 gasoline, inflation gone wild!
Whatever the size or shape of the vehicle, vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
XII/XXII/MMXII!
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sydb7
Champion Author Atlanta

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Message Posted: Dec 13, 2012 10:52:05 PM

When oil costs $8 per gallon, we will be walking, biking or on mass transit! No problem!
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METEOR49
Champion Author Ontario

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Message Posted: Dec 13, 2012 10:07:26 PM

i forecast oil will be worthless by 2040 and i have as good a chance of being right as they do !
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judgemobile
Champion Author Ohio

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Message Posted: Dec 13, 2012 10:05:50 PM

predictions that far out are meaningless--they do not even have a clue about fiscal cliff, only 2 and a half weeks away
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libertyut
Champion Author Utah

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Message Posted: Dec 13, 2012 10:05:29 PM

I don't think we have to waite until 2040 for that to happen with the President we have know.
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boatfloyd
Champion Author Jacksonville

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Message Posted: Dec 13, 2012 10:04:35 PM

That's called inflation.
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billy44bo
Champion Author Mobile

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Message Posted: Dec 13, 2012 10:04:26 PM

I think it will be $4.00 but they are just picking a number and running with it.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 13, 2012 10:03:41 PM

So, @fuelsaverMN, is that on your T-shirt or bumper sticker?
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 13, 2012 10:02:42 PM

There won't be any coffee in 2040, @clermont40miles. Coffee growing regions of the planet will have been clear-cut to make room for more cows.

You gotta feed burgers to 9 billion people somehow.
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cheaper0ON
Champion Author Ontario

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Message Posted: Dec 13, 2012 10:02:33 PM

Crazy.
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RitaVespa
Champion Author Oregon

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Message Posted: Dec 13, 2012 10:02:19 PM

Wow! This will hurt
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gcalleja
Champion Author Miami

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Message Posted: Dec 13, 2012 10:02:07 PM

Inflationary government policies make money worth less and everything will cost more.
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NedW
Champion Author Indianapolis

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Message Posted: Dec 13, 2012 10:01:54 PM

Obama will be happy to see it.
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Robert44
Champion Author Columbus

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Message Posted: Dec 13, 2012 9:57:54 PM

WOW!!!
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clermont40miles
Champion Author Cincinnati

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Message Posted: Dec 13, 2012 9:53:34 PM

$8.68 gasoline, $268 crude oil by 2040.

As good a guess as any.

And a cup of coffee will cost how much in 2040?

Ask Rob.
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joeschmo12
Champion Author New York

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Message Posted: Dec 13, 2012 9:52:03 PM

it's not just gasoline prices that will go up. it's everything except the wages. :/
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SavALot
Champion Author Virginia Beach

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Message Posted: Dec 13, 2012 9:51:19 PM

i think prices will go up regardless of energy production
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Red7002011
Champion Author Mississippi

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Message Posted: Dec 13, 2012 9:50:31 PM

Buy Electric Cars!!!!
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fuelsaverMN
Champion Author Twin Cities

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Message Posted: Dec 13, 2012 9:50:14 PM

I WILL WAIT TILL IT REAlly happens people??????
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fuelsaverMN
Champion Author Twin Cities

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Message Posted: Dec 13, 2012 9:49:34 PM

"IMPEACH OBAMA"
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 13, 2012 9:47:37 PM

Sorry, @John747, you didn't do a good enough job telling everyone about Obama's secret plans and therefore he was re-elected.

That's what you get when you talk to the same six people in the conspiracy Internet forums.
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BREW9
Champion Author Tampa

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Message Posted: Dec 13, 2012 9:47:22 PM

wow
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marion1739
Champion Author Missouri

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Message Posted: Dec 13, 2012 9:46:15 PM

Hold your breath and see if you expire or a government report is true comes first lol
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benjy
Champion Author Chicago

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Message Posted: Dec 13, 2012 9:43:38 PM

but in 2040 our mobile's will fly...
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 13, 2012 9:42:43 PM

What's your solution, @FlogNut? "Drill, baby, drill!" just means "Export, baby, export!" for Big Oil. How would you keep gas prices down?
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Yonkers111
Champion Author Scranton

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Message Posted: Dec 13, 2012 9:41:49 PM

Why is it a surprise that prices will more than double in 28 years? Prices were less than half today in 1984.

[Edited by: Yonkers111 at 12/13/2012 11:43:32 PM EST]
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wild3bill
Champion Author New York

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Message Posted: Dec 13, 2012 9:41:49 PM

World due to end in a week and a day. Not to worry EIA will f first!
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 13, 2012 9:40:30 PM

The report is talking about the year 2040, @feldagast. You somehow think Obama and Chu will still be in government?
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diabloMN
Veteran Author Twin Cities

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Message Posted: Dec 13, 2012 9:39:00 PM

By that time I would have given up my license and wont be driving anyways.What sucks is these people in $12 an hour jobs trying to keep up.
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pgerassi
Champion Author Milwaukee

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Message Posted: Dec 13, 2012 9:33:50 PM

Inflation alone accounts for most of those prices and few forecasts get that right in 28 years. Think of those 28 years ago in 1984. Gasoline sold at retail for $0.93/gal and crude prices were $29/brl. Project that same rise to $3.30 and $86 respectively and you get 2040 prices of $11.71 and $255. I guess fuel taxes which make up a portion of that retail gas price won't rise enough to match inflation. That or alternatives will force a price reduction for gasoline equivalent (natural gas/biofuels/hydrogen/PHEVs/BEVs).
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feldagast
All-Star Author Toledo

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Message Posted: Dec 13, 2012 9:32:31 PM

just what 0bama wanted and Chu wanted to hear.
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mstearno
Champion Author Dayton

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Message Posted: Dec 13, 2012 9:28:15 PM

my kids care
but will be totally socialized by then so too bad for them
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MG_Sputnik
Champion Author Philadelphia

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Message Posted: Dec 13, 2012 9:27:11 PM

2040? Hmmm. I'll be a gazillion years old by then. Who gives a f---?
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txkrb
Champion Author Texas

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Message Posted: Dec 13, 2012 9:26:01 PM

Gas price have increased by over 75% (average) every ten years since the early 70s
So at that rate we would reach 9.00 by 2032
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karlet
Veteran Author Pittsburgh

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Message Posted: Dec 13, 2012 9:25:49 PM

I didn't need to know this!!!!!!
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mcmonsta
Champion Author Honolulu

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Message Posted: Dec 13, 2012 9:24:25 PM

i just can't wait ....can I?
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mwo
Champion Author Twin Cities

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Message Posted: Dec 13, 2012 9:23:56 PM

DEG- prices going DOWN here, how about where you are? Thank you Pres Obama.
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lasriog
Sophomore Author Texas

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Message Posted: Dec 13, 2012 9:22:03 PM

42 years ago gas was less than 30 cent so it is up ten fold
so two and half times in 28 years is not as much of an increase as I have seen in my lifetime
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DEG
Champion Author Las Vegas

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Message Posted: Dec 13, 2012 9:21:49 PM

Probably will happen a lot sooner with Obama being re-elected.
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FlogNut
Champion Author Chicago

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Message Posted: Dec 13, 2012 9:21:31 PM

If you voted for Obama then you voted for higher gas and oil prices! Never fear......I'm sure Obama will once again find someone else to blame.
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fowlcan
Champion Author Oklahoma City

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Message Posted: Dec 13, 2012 9:18:45 PM

I can't stand it. Too funny for words.
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gd83goldwinger
Champion Author South Bend

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Message Posted: Dec 13, 2012 9:17:31 PM

They can't forcast the prices now. There up there down. How can they forcast the future.
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