Analyst predicts gas could go to 12-15 dollars a gallon

The good ole days. That's what a CNBC analyst says we are going to be describing as the time we are in now once oil shoots up to--gasp---12 to 15 dollars a gallon. With the speculation of oil in terms of reserves and production, the thought that once was forecasted that "everything was going to be alright" is now bleaker than ever, prompting the Chicken Littles to declare that the sky is officially falling.

Not that I can blame them. The meteoric rise of gas prices and fuel economy is not something that really, after all, is a surprise. Oil expert T. Boone Pickens has said that the world can only produce 85 million barrels of oil every day, and the worldwide demand for oil is actually 86.5 million barrels of oil. It doesn't take a rocket scientist to figure out that it's just not going to be enough, the gap will spread, and then the prices with the demand will continue to go up, up, and up.

I'm not officially at panic mode just yet, but it will be very interesting to see what the United States does in the face of many opportunities as well as the political change with a new president in less than a year, which could mean huge implications not only with the war in Iraq, but also energy alternatives and initiatives to be funneled with the alternative fuel issue that will absolutely have to be at the forefront--as this obviously is a key indicator of the nation's economy and unless plans for alternative fuel that is more cheap and more environmental (I know, and oxymoron of sorts), this analyst could be dead on. Let's pray he's not....

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Analyst predicts gas could go to 12-15 dollars a gallon

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