They probably just looked at the futures prices, but it's still silly...
WASHINGTON (Reuters) - U.S. gasoline prices will continue to march to record highs this summer before peaking at $4.15 per gallon in August, the Energy Information Administration said on Tuesday.
Last month, the EIA projected gasoline prices would peak in June at $3.73 per gallon of regular grade fuel.
The EIA is also predicting that there will be 14 named storms in the Atlantic during the upcoming hurricane season, that John McCain will win 274 electoral votes in November, and that the world will end on January 26, 2033.
Tuesday, June 10, 2008
Subscribe to:
Post Comments (Atom)
4 comments:
In April EIA said gas would peak at $3.60 so they have a pretty Bushian record about being right about s#i+... their guess on the date of the end of the world might be worth more than their guess on the price of gas two months from now.
Just a little over three months ago, President Bush declared he “hadn’t heard” that gasoline would soon reach $4 a gallon. Today, the milestone anticipated by all save the President of the United States came to pass:
“Drivers are paying an average of $4 for a gallon of gasoline for the first time. AAA and the Oil Price Information Service say the national average price for a gallon of regular gas rose to $4.005 overnight from $3.988. But consumers in many parts of the country have already been paying well above that price for some time.”
Given the stratospheric - and uninterrupted - rise in oil and gas prices, Bush’s February 28 display of ignorance is all the more jaw-dropping. Asked by a reporter about the looming arrival of $4 gas, Bush the former oil man did what comes naturally and played dumb:
Q What’s your advice to the average American who is hurting now, facing the prospect of $4 a gallon gasoline, a lot of people facing —
THE PRESIDENT: Wait, what did you just say? You’re predicting $4 a gallon gasoline?
Q A number of analysts are predicting —
THE PRESIDENT: Oh, yeah?
Q — $4 a gallon gasoline this spring when they reformulate.
THE PRESIDENT: That’s interesting. I hadn’t heard that.
Perrspectives has more on Bush’s mind-numbing mindlessness and his dismal history of broken promises to “jawbone” his Saudi and Kuwaiti friends into opening the spigots.
Didn't the EIA also predict that the Iraqis would greet us as liberators and throw flowers from the roof tops when we entered Baghdad?
I guess we all owe them an apology...
The national record for a gallon of gas was $4.12 on July 15, 2008
Post a Comment