Do I See 6 Dollars a Gallon on Idaho’s Horizon?
Did I ever miss my last prediction. At midweek, I wrote that we could see five dollars a gallon for regular gasoline by the middle of June. The following morning, most of the station's along Kimberly Road in Twin Falls were posting a price of $4.99.9 a gallon. That point nine at the end makes all the difference. We're at five dollars a gallon and I missed by two weeks.
Where we go from here is anybody's guess. A writer at OilPrice.com is offering some scenarios. While some are predicting 300 dollars a barrel for oil (that would put us in the 10 dollars a gallon range!), he suggests it won't be quite that bad. He said we likely are facing a recession. A soft landing means costs at the pumps remain high. A hard landing suggests a drop to 90 dollars a barrel. The latter means quick relief when filling up, but with a caveat. My dad told me, during the Great Depression, you could buy eight gallons of gas for a buck. Adjusted in real dollar terms, it's probably closer to a dollar a gallon in today's economy, however. He also told me nobody had any money. A quarter of the population of working age men didn't have jobs.
People are telling us we aren't headed for a Dirty Thirties crack-up. Though, those people had climate issues and still had fresh memories of a worldwide pandemic. We can dig ourselves out of this mess, but we need the courage to tell the green crowd to get out of the way. They promise famine, disease and resource wars. If we can tune them out, we can extract the underground and undersea resources at our disposal and put the economy back online. It begins with telling them something they never heard as kids. A two-letter word called, "No!"