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Ex-Shell president sees $5 gas in 2012

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Laurie Segall
CNN Money
Tuesday, December 28, 2010

NEW YORK (CNNMoney.com) — The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.

In an interview with Platt’s Energy Week television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases.

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Ex Shell president sees $5 gas in 2012 011210banner3

“I’m predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices,” he said.

Tom Kloza, chief oil analyst with Oil Price Information Service says Americans will see gasoline prices hit the $5 a gallon mark in the next decade, but not by 2012.

Full story here.

This article was posted: Tuesday, December 28, 2010 at 2:12 am





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