$4.00 gas inevitable next year

You ain't seen nothing yet?

The year is almost over and there is growing consensus on Wall Street that $100.00 barrels of oil will probably have to wait until next year. Of course, just a couple of months ago, the consensus on Wall Street was that we wouldn't have come nearly as close to $100.00 as we did. Nonetheless, most in the oil game think we'll blow past $100.00 oil next year.

Of course, blowing past $100.00 per barrel oil is based on the current situation. A big storm, a strike on Iran, an act of terrorism, etc. could push the price significantly higher. Thus, $4.00 is almost a certainty next year, at least in places like California, and $5.00 gas isn't that unrealistic.

Yet, the future of America's energy plans continue to be business as usual - oil and corn-based ethanol. It's good to know our politicians are such visionaries.