Gas prices: It doesn't get any better than this?
Just finished watching a panel of energy experts discuss the future of the oil market for the next few years. They concluded that right now is probably as good as it is going to get when it comes to gas prices for the next few years.
A bottom of $50 per barrel of oil was predicted in the short term; however, by next year a barrel of oil will again rise above $60 and will probably settle in the $65 to $70 range. Interestingly, these predictions are based off of status-quo conditions. Consequently, a terrorist attack, hurricane, etc could push prices much higher.
So, don't worry that your investment in a hybrid car isn't going to pay off because gas prices are falling. In a few months gas prices will slowly start to rise back towards $3.00 with the potential of going much higher.
A bottom of $50 per barrel of oil was predicted in the short term; however, by next year a barrel of oil will again rise above $60 and will probably settle in the $65 to $70 range. Interestingly, these predictions are based off of status-quo conditions. Consequently, a terrorist attack, hurricane, etc could push prices much higher.
So, don't worry that your investment in a hybrid car isn't going to pay off because gas prices are falling. In a few months gas prices will slowly start to rise back towards $3.00 with the potential of going much higher.
Labels: Hybrid Vehicles
posted by Dahcredyns at
11:19 AM
2 Comments:
Do you have any info on the panel that you could post?
Mike
Not right off hand. It was part of Morning Call, I think, yesterday on CNBC. Sometimes they make clips of their different segments that you might be able do find online.
The segment focused on whether now is a good time to invest in oil or a bad time. It really wasn't focused on gas prices, but the subject inevitably came up.
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