more energy news...

[hotwing]

[SIZE=+2]Energy costs may nearly double again

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[SIZE=-1]09:56 PM CST on Tuesday, February 14, 2006

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[SIZE=-1]By Jeremy Desel / 11 News[/SIZE]

We've all felt the pain at the pump and used a lot of energy trying to figure out how to cover those power bills.
That may be just the beginning, because they could nearly double in coming years.
What is the impact?

KHOU-TV
Foreign energy imports are expected to rise, as is the cost of oil.

Numbers from AAA show people in Houston were paying a $1.89for a gallon of regular unleaded last year. Today the average price is $2.28 a gallon.
What does a new government report predict?
It seems like the one thing you can count on, bursting bills, pressure at the pump.
"I'm driving back and forth from the Woodlands it is a big impact," said Sue Harrington.
We caught a break recently when natural gas prices dropped, but forecasters don't think that is going to last.
The Bush Administration has put a new emphasis on lowering U.S. dependence on foreign oil and emphasizing alternative fuels.
"Make our dependence on middle eastern oil a thing of the past," President Bush said in his recent speech.
The Energy Information Administration isn't buying that. In fact, its report for 2006 suggests that foreign energy imports are expected to rise even higher by 2025, to 68 percent of the total oil used here.
The total per-barrel price estimate for 2025 is up $21 from last year with a possible high end price near $100 a barrel.
"They have the control and it is also a limited natural resource. What do we expect?," said Houston energy user Ellis Iverson.
"Oh my goodness. We need other fuel sources. We shouldn't be relying on fossil fuels," said consumer Ricardo Coronado.
It's not just at the tank. On the home front forecasters see a slight decline for the next few years, then an increasing rise in price for electricity.
The same holds true for natural gas.
"Anyone would be surprised with that. We can barely make it right now," said Coronado.
At its core it's all about supply and demand.
Forecasters expect a flat supply line and a steady increase in demand. That equals higher prices.
The report says alternative fuels offer some hope, but don't have a serious impact in the forecast.
"Sure there is hope. But it depends on whether our government is going to prioritize that," said Iverson.
The dials just keep on turning.

 

[Gearup727]

Oil is going to be in excess of $100 well before 1025. More goverment BS.

http://www.netcastdaily.com/fsnewshour.htm

 

[Flying Illini]

Electricity rising too? What if we built a handful of more Nuc power plants? That should lower the cost of electricity. Then we could all use electric heat in our homes...we could even use electric cars. Now our dependence on foreign oil is reduced. Electric car technology should be able to come along to the point where vehicles don't totally suck being all electric. I don't mind driving an electric vehicle if I no longer have to pay 40$ to gas up...as long as recharging the car won't cost more.

 

[Frac Daddy]

Waiting for jetflyer to go off.......................

 

[jetflyer]

lol frac,

I'm bored of talking about it, just waiting for 2010-13 when the peak hits. I won't be the only one going off then

When we pass peak and supplies go down around 2010-2013, Matthew Simmons who is a Bush and Cheney friend, and many others think $200/barrel will occur pretty quickly after peak oil if not before hand as supply plateaus as demand keeps going up.

Oh and Gearup,
I see the link you posted goes to Jim Puplava's Financial News hour site. His converstions with established oil men and "peak oilers" are very intriguing and enlightening. He's one of the main reasons I have almost all my investments in gold and a little in oil.
Nothing will change till the doo hits the fan. The change coming is not going to be a nice easy transition, but will be a world changing event. Let's hope it all turns out ok....

Jet