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Prediction–Gas will hit $7 a Gallon and THEN Something Will Get Done

This is my official prediction.

Absolutely nothing will happen about gas prices until gas hits $7 a gallon.

I believe competition drives prices down.  The oil companies have no competition except from each other, and we all know that that doesn’t help us here.

To get viable competition for oil, we need to run out of oil or have gas hit such a high price where people can literally not afford it.  It will have to hit a place where people quit their jobs because they can’t afford to go to work.  Then they go on unemployment.  When that happens, the government will care, and something will get done.  Until that time, oil companies and the government have ABSOLUTELY no reason to really care about gas prices.

When that happens, something will get done.  whether it will be viable alternative cars (hydrogen, electric, etc) or the government intervening in the price.

I think that for a drastic measure to get done it has to be a desperate circumstance.  Right now we’re not there.  Right now, it’s just a bitch and moan point.  People can still afford it-it’s just expensive.

We’ll see if I’m right in about a year.

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