Goldman Sachs' Arjun N. Murti said this in a May 5 report: The possibility of $150-$200 per barrel seems increasingly likely over the next 6-24 months, though predicting the ultimate peak in oil prices as well as the remaining duration of the upcycle remains a major uncertainty. That would mean gasoline prices of $5 to $6 a gallon. Unless, of course, we permanently suspend the gasoline tax, in which case gasoline prices would only be $5 to $6 a gallon. Why should we listen to Murti? Well, back in 2005, when prices averaged under $60 a barrel, he was one …
Get Grist in Your Inbox
Are there two different versions of environmentalism, one “white,” one “black”?
Zappos billionaire wants to turn a dusty Las Vegas wasteland into a thriving urban hub
Oil refinery threatened by sea-level rise, asks government to fix problem
Climate refugees, DO NOT MOVE TO THE PACIFIC NORTHWEST
Don’t believe anything you read at Natural News