According to an article in the Toronto Star entitled “CIBC sees $1.50/litre gas ‘soon’, according to the STAR “The widening demand-supply gap could push crude oil prices as high as US$150 a barrel by 2012, said CIBC World Markets chief economist Jeff Rubin, who in 2005 was among the first analysts to predict the $100-a-barrel oil price which materialized this month.”
I don’t know about you, but that to me is just wrong, on oh so many ways. I know in the US they are paying more for gas then we are, but still I don’t know about you but at 1.50 for gas I’d not be using my car much at all, aka cost prohibitive in the extreme (at least in this point in time it would be).
Oh well one can only hope that alternative forms of fuel are found and adopted before this happens or that alternative modes of transport which are just as good as the car are developed (and I don’t mean the TTC or the like since to me they are not efficient as they currently stand).
Well take care,