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Originally Posted by dan_fitz
That is a bit alarmist I think. First of all, who is talking about $5.50 gas? Plus, those families making $35K combined are likely not filling their tanks 4x per month at $2 a gallon. The economy will not gring to a halt based on gas prices alone. While some folks are getting wiped out due to the hurricane, this is going to be a boon for other industries. The economy will work itself out. There is a LOT of petroleum in the governments reserves. What will likely end up happening before we ever see $5.00 gas prices sustained is drilling in Alaska and the mountain areas. Many will object, but the reality of higher prices taking a long-term hold on this country will sway the vote the other way. Of course, time will tell if i am right or not, but these are my opinions.
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If you looked at the picture at the top...a gas station in Atl has those prices posted. No one knows why they are goudging but they are. The terms that I proposed are worst case scenarios but the combinations of high home heating and gas prices will put a hit on the econmy that is 75% driven by consumers. If you make 2200 month and are used to spending $200 on gas are now are spending $350..that is $150 not going to other parts of economy.