Oil prices headed down?

[Ken Bowers]

The prediction is for $50 per barrel oil within two years due to increased US production.

This should lead to gasoline priced at $1.85 per gallon.

I looh forward to filling my H2 for $40!

And Hummer resale prices might go up too.

[wasp1971]

That would be fantastic!

[jsbihn]

Not to rain on a possible parade, but...... with most state and federal taxes on gas being 40-60% of the price per gallon at the pump (if not more), I wouldnt hold my breath to see a gas price below 3 dollars.

I think the American public has been severely conditioned to just take it up the "tank" and pay the unreal prices we pay.

(and if you did realize how much we pay is because of our US government and not because of the price of a barrel of gas, look at this:

http://money.cnn.com/pf/features/lis...bal_gasprices/

Look at Venezuela... 12 cents a gallon)

Remember like 10 years ago, I believe the price for a barrel of gas was 80 dollars yet the price of a gallon of gas was not even $1.50 for 93 octane.

Dont get me wrong, I would love to stop spending 100 dollars every few days to fill up my tank.... but I think that the greedy government wont let that money go when it comes to taxing the crap out of us at the pump.