Wednesday, September 9, 2009

Brace Yourself for Fifteen-Dollar Gas

Just wait until youre paying $15 a gallon at the pump, cautions Weeden & Co. energy expert Charles T. Maxwell.

"Were heading in that direction," says Maxwell.

Don't rush out into the street screaming just yet, though. "I think it will be a number of years before we get there."

Trading conspiracies aside, it really is all about supply and demand, Maxwell warns. And that picture isn't changing long term.

Governments have been way too slow, he says, to recognize and act on the problem.

"Thats the fundamental problem going on in the world today, and so many people dont recognize it," Maxwell says.

It isn't really a drilling problem, he warns. more


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