LifeHiscost Posted July 16, 2013 Posted July 16, 2013 I'm sure the top 10% of the money makers will figure some way around it. Quote: Expect $50 oil, but not $2 gas, Gulf Oil CEO says Oil at $50 by end of year: Expert Monday, 15 Jul 2013 | 7:31 AM ET Joe Petrowski, CEO of Gulf Oil, explains why he sees oil headed much lower than they are now. Oil prices should be about half of today's $105 a barrel by the end of the year, Gulf Oil CEO Joe Petrowski predicted on CNBC on Monday. He stressed on "Squawk Box" that this trend is mostly on the supply side because record amounts of oil and natural gas are being produced in the United States and in Canada and OPEC supplies are higher. But "$50 [a barrel] oil does not translate into $2 gasoline," he said, because it still has to be refined and transported. God cares! Quote Lift Jesus up!!
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