By Kalwinder KaurMay 30 2012
On an interview with FutureMoneyTrends.com, Dr. Gerald Bailey said that the price of oil will not be cheap in future.
The interview was conducted for 11 minutes, wherein he discussed about the changing world and the condition of the present oil markets.
Dr. Bailey has been in the petroleum industry for 48 years. He has knowledge in all the industrial aspects that include downstream and upstream, along with US offshore and onshore.
FutureMoneyTrends.com anticipates that the storm of events will escalate the price of gas beyond the breaking point in the United States. The people in the U.S. use 20 million barrels of oil per day. The price of gasoline increased during the stock market crash that took place in 2007-2008.
According to FutureMoneyTrends.com, the Unites States is nearing its breaking point, wherein the economic circulatory system will experience a systemic breakdown resulting in another phase down in the economy. The price may shoot up to $5 per gallon, as millions have already crossed their breaking point.
Three main catalysts that will make gas prices to approach this breaking point are:
- Decreasing value of dollar caused by the increase in continuous money supply by central bank in America.
- Possible war and instability between Iran and the Middle East may greatly interrupt the oil supply.
- Decreasing supply of cheap recoverable oil together with increased demand.
These three catalysts will result in rising gas prices that will break the backs' of the consumer spiking prices in the U.S.
Disclaimer: The views expressed here are those of the author expressed in their private capacity and do not necessarily represent the views of AZoM.com Limited T/A AZoNetwork the owner and operator of this website. This disclaimer forms part of the Terms and conditions of use of this website.