Gas could fall to $2 if Congress acts, analysts say

[windtalker]

At one pump? Wouldn't be possible where I get gas - they put an automatic shut-off on the pumps once you hit $74. Hmmm....

And drilling-schmilling. They could start drilling all they want today, it won't make a bit of difference. Supply isn't the problem right now, but it will be in the future. If China and India or other developing economies were to double their consumption over the next 10 years, there just won't be enough, period.

Yep at one pump and I only had to swipe my debit card once.......crazy stuff going on, if this keeps getting worse many people will be out of work, in our area they shut down 7 round table pizza restaurants out of the blue last friday.

[ron4jesus]

Well after posting this article I find as of now Congress is on vacation. Isn't that just dandy ? The country is falling apart and they take time off. I am for term limits and getting these good for nothings unemployed. I know they have a great package deal after leaving but guess what ? We let these people back in and those special interests groups have to go. They don't speak for America. I even heard John McCain was disappointed in hearing this. I pray he gets in and not this smooth talker Obama. Maybe it's a blessing in disguise they are not working but we have some serious problems in this country that needs attention.

[TeachMe]

It's up there now. The oil companies aren't going to give that up.

[trailboss]

I dunno, we have several oilfield guys that attend our church (Illinois oil belt area), and they all say the same thing. Based SOLELY on production/drilling costs, Big Oil could make a comfortable margin at $75-$80 per barrel-resulting in approx $2.50 gas. These inside guys figure that their management is trying to recoup from several years of sub $20 per barrel oil prices.

[trailboss]

That's the point I was trying to make :) They (the oilfield guys) are stating that anything over $75-$85 is based on speculation in the market.