$5 a Gallon by 2012? Worrisome, but Survivable...for Some


For drivers of gasoline-powered vehicles who were hoping to hear good news about the future state of fuel prices, here's something to rain on your parade. Former Shell President John Hofmeister recently indicated that he foresees gas prices hitting a very European $5 a gallon by 2012.
The question everyone wants answered is this: will vehicle manufacturers be ready? Hopefully they learned their lesson last time, but there's really no telling; after all, cars like the absurd Chrysler Aspen came out at a time when all signs said "Don't do this".