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Tuesday, June 10, 2008

Petroleum Predictions

Back in 2005 when gasoline first went over the three dollars per gallon mark is was said that Katrina was the reason, and in Jan 2007 last year I was seeing $1.87/gal for gas at the pump, but prices shot up much faster than expected. Rather than gasoline going over $4 in 2009, by mid 2008 it was in the 4.50 range, meaning it could hit 5 or even 6 by 2009.

Food prices are soaring. Diesel fuel to harvest corn and propane to dry it are more expensive, farmers say they are barely breaking even. They can no longer borrow against their house and field. My prediction for housing and propane are grim. This means fuel shortages in the future will cause crops to rot in fields. Empty store shelves will greet hungry city folk.

This year I saw many empty fields, get ready...