Wednesday, May 09, 2007
Some not so bad news
It would appear that the amorphous group known as "They" were not able to sell their plan for $4 gasoline, this year.
If there's a bright spot in the gloomy price outlook, it's that the EIA discounted the potential for $4-a-gallon gasoline.Sure, there is still some hope, if something appropriately disastrous happens. But until then "They" will have to eke out what profit we can from $3+ gasoline.
"Although many oil market analysts have talked about the potential for retail gasoline prices reaching $4 per gallon this summer, EIA does not expect the U.S. average price to get anywhere close to that level as long as the oil infrastructure remains largely unaffected this summer," the agency said.
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