If
you think all this flirting with $3-a-gallon gas is
already a pain in the pocketbook, brace yourself.
Oil expert Craig Smith predicts gas
prices will skyrocket next year, jumping to five bucks
a gallon.
And if terrorists successfully strike
a major Middle East oil field, Americans might end up
paying $10 a gallon -- about $110 to fill a Ford Focus'
11-gallon tank.
Smith, a self-proclaimed geopolitical
know-it-all hawking his new book Black Gold Stranglehold,
says Americans -- tree-hugging politicians and car-addicted
commuters alike -- should blame themselves for the coming
spike in prices.
"Why are they charging higher prices
for gas? Because people will pay it. Apparently, we're
not changing our driving habits much," he said.
"Blame this on ourselves. This country has not
built a new refinery in 30 years, we stopped new oil
exploration . . . and put a moratorium on offshore drilling."
Smith -- who last year predicted $3-a-gallon
gas and $65-a-barrel crude oil prices this year -- says
oil prices will jump to $80 a gallon by the end of 2006.
On Tuesday, the national average was
$2.52 a gallon, according to AAA. And the price of gas
topped $3 here last week.
If you don't believe the average cost
of gas will double in 12 months, Smith points to places
such as Hong Kong, Korea and France, where gas prices
regularly top the $5 mark.
The solution here for high oil prices:
"find it, drill it, refine it and burn it"
domestically, Smith said, pointing to untapped crude
reserves in Alaska, Colorado, Utah, off the California
coast and in the Gulf of Mexico.
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