What will be the price of gas in 4 years if we don't begin drilling for more oil now?

the dems will let gas prices soar.thats why we need to vote their worthless asses OUT.What will be the price of gas in 4 years if we don't begin drilling for more oil now?
I don't know. If I knew the answer to that question with any certainty, I would be buying or selling futures contracts to cash in on my prescience. The neat thing about the activity of speculation is that it transforms views on future uncertainty into prices today. Increasing prices signal producers to ramp up production or (failing that) consumers to cut back on consumption. And it's not just speculators who participate in this process. People who rely upon oil or gasoline in their business may transact in the futures markets to insulate themselves from future price changes.





In my opinion, there may be an actual scarcity of oil revealing itself. I believe that increased drilling may slow the price increases but not stop them entirely. In terms of the cost of oil, I believe the predictions of $200-$300 per barrel in that time period. It would be hard to say how those price levels would convert into gasoline prices since gasoline is only one good among many for which oil is used. If those predictions are true, a good many aspects of our economy will have to adapt. If left alone, prices will balance out supply and demand.





The nightmare scenarios are if governments intervene to such an extent that price signals are suppressed or distorted. If the stuff is running out, government decrees won't replace it when it's unavailable.What will be the price of gas in 4 years if we don't begin drilling for more oil now?
$1.





You may remember the oil shocks of the 1970's.





But have you forgotten the oil glut of the 1980's?





';Oil prices of over $40 a barrel on the spot market contributed substantially to a depressed world economy, which required less energy. As production rose from new sources such as Mexico and the North Sea, an oil glut replaced the perceived shortage of 1979 and 1980. Prices softened and drifted downward. This triggered a dramatic decline in domestic exploration, and the number of active drilling rigs was nearly halved in 1982.Oil service and supply companies in Houston and elsewhere found themselves with excess capacity and inventories and few customers. Firms like Hughes Tool and Cameron Iron laid off thousands of the workers they had hired in the previous two or three years.';
Whether we drill or not, regular inflation will drive the price up if there are still no solid alternative sources. I guess if you want an estimate:








Without adding any differential for outside sources of inflation, every 10 years prices increase about 2%. So in 4 years we can say prices will be 1% higher then they will now. Avg. gas in the country (right now) is about $4. So we would be looking at a base price of $4.05, rounding up. Which, of course, is $1.20 more then last year. If we drill...that won't affect the price for a decade, so I don't see the price of gas in four years being altered by off shore drilling. Supply and demand would have a greater affect on it...if anything.
Well, if we got ALL the pumps the Republicans and the oil companies drilled and going and active by tomorrow, the price of gas would drop approximately six cents.





Of course, didn't the Saudis say that there's no reason for gas to be costing more than $60/barrel, so I would expect there's quite a bit of oil speculation going on right now at EXXON, Chevron and Shell 鈥?and I wonder how much of this money the Republicans in Bush's administration are pocketing for themselves.
Depends on what you are talking about and other circumstances.





I'd guess it would be exactly the same as if we didn't start drilling/development now. Will it be too much or much higher? Probably yes. So the answer is to cut our use so it will cost us less.





But wait, I just said the price won't change! If it costs X dollars, and I use Y amount, it will be cheaper if it costs X dollars and I use 1/2 of Y amount.





The key is to find alternatives and to increase efficiency to cut our use.





If you're talking about opening up offshore drilling or ANWR, that won't make any difference, at all. They're already sitting on leases and capped wells that have billions of gallons of oil. The oil companies would rather import the stuff, and, really, why would they have any interest in reducing the amount of money they get for their product?
It's going to start to decline a bit now, without drilling... Keep in mind until we are able to refine more oil, into gasoline and diesel, we will be in the same boat regardless of the influx of oil... The speculators are banking on that alone... So don't expect to see it any lower until then.
We need to reduce consumption and eventually get away from oil all together.





We shouldn't be squealing with delight when we find new oil fields while fighting global warming at the same time. It's a little nutty.
How much oil demand is going to increase in 4 years? Is drilling going to make any difference ?
Too much.
If that's all we do.......it will be the same....or worse....
Who cares?