Gas Prices Could Fall To $2??
September 14th, 2008 . by JetmanGas Prices Could Fall To $2 If Congress Acts, Analysts Say - FOXBusiness.com
WASHINGTON — The price of retail gasoline would fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy markets, four energy analysts told Congress on Monday. Testifying to a House Energy and Commerce Committee subcommittee, Michael Masters of Masters Capital Management said the price of crude oil would drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.
CONGRESS BETTER PASS IT IF THEY VALUE THEIR JOBS.WE CAN VOTE THEM OUT JUST LIKE THEY ARE VOTED IN.WE WANT RELIEF AND NOT EMPTY RHETORIC.
I totally agree with this bill. I have seen the price of gasline go up $0.64 in three days from $3.65 to $4.29 based on speculation. That is absolutely hi-way robbery. Congress has to do something to prevent this. I am appalled at the audacity these oil companies have to rob the american people. Speculation laws should have been enacted several years ago when we had the rash of hurricanes. It all comes down to “GREED”.
As long as private interest continue to lurk around Congress, the Nation won’t benefit from gimmics like this one. The bottom line is for America to look for alternative/legitimate power sources other than oil. Corn certainly ain’t it!
These facts are as phony as a 3 dollar bill. crude is 42 gallons to the barrel. Math alone shows that. At this time. gas is 106 a barrel. http://tonto.eia.doe.gov/oog/info/twip/twip.asp
106 divided by 42 is 2.52 a gallon. Im not sure what the price was in april. but it didnt spike til june/july. 2 months later. Crude oil is not that large of a factor as they are trying to say.
Well… Right now California has gas at $1.75 per gallon. That sort of sums up the arguments.