Riverwired points to an interview on CNBC with “Management Information Services Senior Energy Advisor” Robert Hirsch, who warns that gasoline could hit $12 to $15 a gallon.
He based his prediction on an interview given by Charles T. Maxwell in February. Maxwell, who is apparently known as “The Dean of Oil Analysts,” said the crisis will start sometime between 2010 and 2015 and will last for at least ten years.
Maxwell’s original $12-15-a-gallon prediction came in a February 5 interview with Energytechstocks.com, a Web site run by two former Wall Street Journal staffers.
If this guy is right, you better buy a good bicycle.
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Sean, Talking about oil prices, I remember your reports in the past about shale oil being fools gold. The costs to produce and water use are too high - which made sense. Any thoughts on Shell oils recent actions? I’ve read that
they are buying up land in shale country and that they have a new production process. Two articles on this: http://www.denverpost.com/news/ci_9138674 http://money.cnn.com/2007/10/30/magazines/fortune/Oil_from_stone.fortune/index.htm You think Shell has found the holly grail of oil-shale production or is oil-shale
still just right around the corner?