|
Gulf Oil CEO: $1 a gallon gas in 2009
Stephen C. Webster
Raw
Story
Friday, Dec 05, 2008
CEO also claims carbon-driven warming a 'myth' as
Merrill Lynch predicts $25 a barrel oil
Joe Petrowski, CEO of Massachusetts-based Gulf Oil, has some
good news for consumers.
In years past, market speculation inflated prices, said Petrowski.
Now that the prices are deflated, speculators may 'overshoot'
and actually drive the consumer cost down further.
His statements came shortly before Merrill Lynch & Co. predicted
oil prices will plunge to $25 a barrel in the coming year if the
global recession begins heavily affecting China.
Petrowski also claimed that the threat of global warming driven
by carbon emissions is a 'myth,' and instead insisted that dependence
on oil imports poses a greater threat to economic stability.
(ARTICLE CONTINUES BELOW)
Petrowski's remarks were delivered to the South Shore Chamber
of Commerce in Randolph, MA, according to a published
report.
In spite of his remarks, the Intergovernmental Panel on Climate
Change, in its 2005 report on the effect of hydroflorocarbons
on Earth's atmosphere, maintained
(PDF link) that "the balance of evidence suggests a discernible
human influence of the global climate."
AAA's national average gas price for regular unleaded was $1.78
as of Thursday, down from $3.04 this time last year. The highest
recorded national average was $4.11, registered July 17, 2007.
Oil was trading at $44 a barrel on Thursday evening.
|
INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
|
|
