Some experts are predicting $5.50 - $6.00 a gallon gasoline this year. Look for the mother of all recessions and a return of Jimmy Carter era stagflation if gasoline climbs to such heights. Many household and corporate budgets will not survive the weight of more debt.
Since the experts are going north, I will go south. Barring war, Gulf of Mexico hurricanes, or an act of terrorism, I predict that gasoline will be in the range of $3.50 a gallon by November 1, 2008. All bubbles burst, and most agree that currently much of the price for a barrel of oil is speculation.
Just a hunch, gasoline for $3.50 a gallon by November 1st, let’s see how close I come.
James A. Zachary Jr.
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