Wednesday, August 18, 2010

So if we don't drill for oil now and no alternative has come to market in10 years, How much will gasoline cost

your question calls for a high degree of speculation, and as such, i doubt anyone answering (including me) can give you an accurate answer. That said, you might have better luck asking a trusted, intelligent, knowledgable friend this question. As with any commodity, gasoline is subject to the economic laws of supply/demand, so the likelihood of much higher prices is certainly within the realm of possibility. The way to reduce price is either to increase supply (which advocates of drilling seem to think will help) or reduce demand (which higher cost will do naturally). A more common sense approach seems to be searching for alternative sources--wind, solar, water, biodeisel, hybrids, ethanol, none of which will be the ';magic solution';, but taken together will reduce our use of strictly one energy source (oil). Coal is touted as an energy source, but will further destroy the planet (some won't care) and nuclear energy can be utilized (but the radioactive waste is still an unresolved issue), so all in all, we (the world) is in deep do-do, so to speak. To answer your question, $10/gallon gas is within reasonable expectation, but were it to happen, the nation's economy would put us into a 1930's style depression. Whatever the future holds, tighten your seat belt; we are in for one heckuva bumpy ride.So if we don't drill for oil now and no alternative has come to market in10 years, How much will gasoline cost
The same as it would if we did drill now and no alternative fuel came to market.So if we don't drill for oil now and no alternative has come to market in10 years, How much will gasoline cost
10$/gallon
I don't know. How much would gas be now if there was a million barrels a day rolling down from ANWR?
More than I'm willing to pay....I ride my bike whenever possible.
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