“Five dollars a gallon for gas? Analysts say it could happen this year.”
WJZ-TV (Baltimore) reports,
… But if Iran follows through on a threat to shut down one of the world’s most important oil routes, analysts say prices here could skyrocket by summer.
“If it gets to $5, that would be hurting the pockets very bad,” said Paul Rozanski, Severna Park…
As Investor’s Business Daily pointed out over the holidays:
No carrier battle groups would be needed to escort oil from Canada’s tar sands to U.S. Gulf Coast refineries.
Or, for that matter, from ANWR or offshore. Yet Obama dithers, delays and disrupts all new oil production.