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What Would You Do Differently If Gas Hit $5 A Gallon In 2012?

 
1,891 views Dec 30, 2010
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John Hofmeister, ex-president of Shell Oil, June 2010 (miscaptioned as 'Jeff')

John Hofmeister, ex-president of Shell Oil, June 2010 (miscaptioned as 'Jeff')

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This video clip, now six months old, has been making the rounds yesterday and today. Still, it's worth pondering.

What would you do if gasoline rose to $5 a gallon in two years? How would your driving, and car buying, behavior change?

Two days after the BP drilling rig blowout in the Gulf of Mexico, Shell Oil's ex-president John Hofmeister (miscaptioned as "Jeff" in the video) spoke at the McCall School of Business at Queens University in Charlotte.

Not only did he excoriate BP for continuing operations, he predicted that gasoline would reach prices of $5 a gallon by 2012. And he didn't stop there, envisioning chronic gasoline lines and "brownouts and blackouts" across the U.S. by the end of the decade.

'Why We Hate the Oil Companies,' by John Hofmeister

'Why We Hate the Oil Companies,' by John Hofmeister

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His solution? An independent panel to "take the politics out" of energy policy, along with less coal and oil and more nuclear power.

Hofmeister was touting his book (published in May), Why We Hate the Oil Companies: Straight Talk From An Energy Insider.

It makes the not-unreasonable point that the only reason companies like Shell drill for oil is because the citizens of the world demand heating oil, gasoline, and so forth to live their lives better and more comfortably.

It's worth noting, by the way, that some energy analysts believe oil prices will stay reasonable until the middle of the decade. It all depends on the Chinese economy, and how quickly China's voracious appetite for imported oil and refined products exceeds pre-recession levels.

But back to you. Watch the video, then tell us how you think you would change your behavior if gasoline hit $5/gallon.

Leave us your thoughts in the Comments section below.

[ WCNC news via LA Weekly; hat tip: Ariel Schwartz]





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Comments (8)

  1. By  Eclectic Linkfest Posted: 12/30/2010 12:20pm PST

    Get over it - gasoline is over $6/gallon in much of Europe now, and $7 in the UK.
     
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  2. By greg Posted: 12/30/2010 3:22pm PST

    In a few years, I will need to replace me 1998 Honda civic hatch with a newer car. Probably will be with a new 2012-2013 Hyundai Accent or small comparable car. Hopefully with some sort of stop/start efficient base model. Not really convinced hybrids are the best buy. I just want something small, dependable and efficient. Kind of like the old Honda CRX HF.
     
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  3. By Kris Posted: 12/30/2010 4:35pm PST

    Eclectic Linkfest: You make a very good point, we have had it pretty easy over here in America, and still do. Keep in mind though the difference in value of currency, we do pay an equivalent of about 4.50 at this time, not too far off Europe's prices. Many Americans also have long commutes for decent work as well, which does even the stakes pretty quickly. Unfortunately though, we also have a lot of people who foolishly choose to drive full size trucks and SUV's as daily commuters, something that I imagine is a rarity in Europe. I myself will stick to my small cars for. I like the 35+mpg that my Mini, and Civic get. My Audi and Miata both get about 30 as well, but they don't get driven near as much because of the gas mileage! Good luck getting me into a truck with 15-20 mpg!
     
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  4. By  DavidNeedsALeaf Posted: 12/31/2010 2:39pm PST

    I think when prices spike again, we will buy smaller cars, and electric cars will sell out. Everyone will scales back driving, and people will look for work closer to home.
     
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  5. By Rik Posted: 12/31/2010 3:05pm PST

    "What Would You Do Differently If Gas Hit $5 A Gallon In 2012?" -- nothing different, because I'm already assuming that gasoline will hit $5 a gallon in 2012. I ordered a Nissan Leaf for short trips and already have a diesel Jetta for longer trips.
     
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  6. By ev enthusiast Posted: 12/31/2010 9:10pm PST

    gasoline is one product that has not followed the supply demand curve to the nth degree, because like diamonds, it is artificially controlled. opec decides how much they want to produce, and charges accordingly. much of it is political. and it can be done, because in the past our whole economy was petroleum based.
    as the ev industry starts to take over the gas cars, the demand for oil will continue to lessen. normally that would mean that gas costs would go down. if prices still go up, it just means that people will move to evs even faster than they otherwise would have moved.
    i think the man in the video is a bunch of hot air. someone who hasnt gotten over the fact that he is no longer a big shot.
     
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  7. By MrEnergyCzar Posted: 1/2/2011 6:26pm PST

    I made a video showing people what they can do to make them less vulnerable to high energy prices...
    http://www.youtube.com/watch?v=PUCl1TruUfo
    MrEnergyCzar
     
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  8. By Jay Smooth Posted: 1/24/2011 10:52am PST

    Two words . . . Chevrolet Volt!!! The BEST Hybrid vehicle ever!!!
     
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