Wednesday, December 29, 2010

$5 gasoline coming. How will Americans respond?

CSP reports Americans will pay $5 for a gallon of gasoline by 2012, thanks to growing global demand for oil, tighter supplies and inadequate responses by the U.S. government, the former president of Shell Oil said. Appearing on Platts Energy Week, John Hofmeister also predicted little or no new drilling in deep waters of the Gulf of Mexico for the next two years as Washington continues to respond to the BP oil spill with tighter regulation of the oil and gas industry. FULL STORY

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