CNBC is doing a special all day about world Oil & gas supplies.
The last commentator/ analyst is predicting 7 dollar gas based on the facts:
Most of the new supply in oil products is in Liquid natural gas products, ie propane
90% of gas is used for car transportation
Propane accounts for 2% of transport fuels
"If the Unites States cannot get cars off the internal combustion engine, in the next 5 years, we'll have $7 gas."
Have to run to doc today. Thought it would be interesting to those that can watch.
Oh and the housing numbers are HORRIBLE down another 8%
11 Months supply.
Time to buy!