"Dave" wrote in message
...
On Thu, 25 Jan 2007 14:05:59 -0800, Mark Borgerson

said:

Gee what would happen if all the states put a price cap on fuel prices?

If you had lived through the 70s in the US you wouldn't have to guess.

Crude oil prices are currently lower than the peak reached during the 70's
(I was in San Diego and then Charleston, SC during 77-79). After peaking in
the $70's per barrel, crude prices dropped over the next several years back
into the $14-18 per barrel range. After the current "crisis" is over, and
Shell, BP and ExxonMobile have secured their 30-year contracts on Iraqi oil,
crude prices will likely settle back down to around $20-25 level. Gasoline
prices will remain around $2 per US Gallon, because that's what Americans
now consider to be a "bargain price."

So I have prognosticated on this date, 25 Jan 2007.

Karin