Gas Could Fall to $2 in 30 Days........

[StillStanding]

....If Congress Acts!!

http://www.marketwatch.com/news/stor...-10EE2E723948}

Gas could fall to $2 if Congress acts, analysts say
Limiting speculation would push prices to fundamental level, lawmakers told
By Rex Nutting & Michael Kitchen, MarketWatch

Last update: 4:24 p.m. EDT June 23, 2008

WASHINGTON (MarketWatch) -- The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.
Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.
Fadel Gheit of Oppenheimer & Co., Edward Krapels of Energy Security Analysis and Roger Diwan of PFC Energy Consultants agreed with Masters' assessment at a hearing on proposed legislation to limit speculation in futures markets.
Krapels said that it wouldn't even take 30 days to drive prices lower, as fund managers quickly liquidated their positions in futures markets.

What do you think about this?

[mizpeh]

I'll wait until August to fill up my oil tank.

[StillStanding]

Originally Posted by mizpeh

I'll wait until August to fill up my oil tank.

It really does make you think though, doesn't it?

[Tina]

Interesting article.... but I'm not holding my breath waiting on congress to do anything to help us....

[Nahum]

It will never happen.

In fact, gas will be at $5.00 by summer's end.

[Pressing-On]

I agree with the article that speculation will just find a new home and I also agree that we would do better by increasing domestic supply. That, IMO, is the greatest issue and should have been started years ago when Bush wanted it done. Of course, the left tree huggers put a stop to that.

On the subjection of reining in consumer demand, that's a little hypocritical coming from someone that approves of speculating. They want us to rein in, but they don't want to curb it in their arena.

Suggesting ways to conserve while prices are high is okay, but not on the level that is being purported by Obama. I can be told the best ways to conserve electricity, but if I'm willing to pay for my consumption, then don't put restrictions unless it's a national emergency.

[revrandy]

What will the price of heating oil be in the North with gas so high??

[gloryseeker]

I catch slack from Christians every time I say this, but "Who Cares." If we Christians who say, "God meets all my needs" would actually believe it we would find that the God Who paves His streets with gold can not only afford $4.00 gas, but He can afford $10.00 gas.


2 Pet 1:3
3 seeing that His divine power has granted to us everything pertaining to life and godliness, through the true knowledge of Him who called us by His own glory and excellence. (NAS)

Hey!!!! our God is bigger than gas, just believe folks!

[Pennycostul]

Ill believe it when I see it.

[Bro-Larry]

You must believe, and not doubt, when you pray, then you shall have it.

The "believing you receive" comes before the "you shall have whatsoever you say".