Simple Chronicle!

The lowest gas price I have seen in my stay in the US is 67c. After seeing $4.09 on my way to work this morning, I wondered at what price would gas plateau around for some time. I did some digging around and here is what I found:

• CIBC says crude Oil is going to hit $225/bbl and Gas to hit $7/gallon by 2012
• Deutsche Bank says crude would be around $80 to $120 in the next five years
• Goldman predicts that crude will hit $150 to $200 over the next two years

So, 2 out of the 3 reports are predicting ~$200/bbl which translates to $7/gallon gas by 2012. Ouch! Here is an interesting cartoon I found on gas prices:

 Maybe I should get a Chrysler to counter rising gas prices.