Get Ready Idaho for the Most Expensive Gas in History

Can you loan me a crystal ball before I go for a long drive?  We saw a small drop in the cost of a gallon of gasoline across Idaho. That followed a drop in the price per barrel for oil late last week.  The plunge was brief and related to breaking news about a new COVID variant.  The CEO of Saudi Aramco laughed it off as nothing more than media-driven panic.

While what’s called a black swan event could still tank oil prices going into next year, big-time analysts see things as otherwise.  In fact, some are warning we may be heading for the most expensive oil in human history.  Check out this link at OilPrice.com.  Good grief!  Oil at 125 dollars a barrel next year and then a prediction of 150 dollars per barrel for 2023!  That would be a doubling of current averages.

Highest Price in Human History

What would it mean at the pumps?  A gallon may not double in cost but we would still witness the highest costs of our lifetimes.

To put this somewhat in perspective, a doctor I spoke with this week was in Lake Tahoe a few days ago.  He paid $5.80 a gallon.  It was for a premium grade and not unleaded regular.  Driving back to Idaho, he stopped for gas in Reno.  It was $4.70 for the same grade.

What we would see with 150 dollars a barrel would most likely push our pump prices beyond both costs in Lake Tahoe and Reno.  Can you afford this?  Are you in good shape?  How far can you pedal a bicycle?  Will your boss install hitching posts?

I'll trade Sea Level Rise for a Cheaper Gallon of Gas

Folks, if this happens, the American people will drop all objections to drilling offshore, on federal lands, and along the northern slope of Alaska.  They’ll accept another inch of sea-level rise by 2070 in order to save a few bucks driving.