Ferrari Mailing List: NFC: Gas should be $ 10 US a gallon

[Rick (Forza355]

So says an Al Goreon worshiper.


      Electric Car CEO: Gas Should Be $10 A Gallon
      Electric Car CEO: Gas Should Be $10 A Gallon 

            Wednesday, June 17, 2009 9:09 AM

            By: Ellen Chang    
     





      Elon Musk, the CEO of Tesla, a performance electric car that costs more 
than $100,000, thinks consumers should be shelling out more money at the pump. 
Try $10 per gallon. 

      Musk, who spoke at the Wired Live conference in New York, said consumers 
are just putting off the inevitable, according to a CNET report. 

      The prices folks are now paying are way too low and leave out "the true 
cost of gasoline at the pump," said Musk. 

      His explanation is that "nobody's explicitly paying for the CO2 capacity 
of the oceans and atmospheres; it's getting consumed. We will pay for it down 
the road, but we are sort of ignoring it for now." 


      Other oil analysts believe the recent increase in crude oil prices is not 
a good sign since prices have increased rapidly without any backing from the 
fundamentals, Fortune reported. 


      However, a majority agree that in just two years prices will rise 
sharply. 

      "We're concerned about oil prices rising so rapidly in the near-term," 
says Hussein Allidina, head of commodities research at Morgan Stanley. "But the 
bet in the long-term is one way, and that's just up." 


      Oil is now over $70 a barrel and has doubled since the low in February, 
Fortune reported. 

      High oil prices could prove negative in other areas such as the credit 
markets. 


      "Considering that supply seems ample and demand is weak, the fact that 
oil is going up looks kind of weird," says Adam Sieminski, chief energy 
economist at Deutsche Bank. 

      "But those factors are being overwhelmed by a huge sigh of relief that 
we're not going to have the Great Depression. A lot of money is coming out of 
mattresses." 





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