Goldman Sachs Predicts $5 a Gallon for Gas This Summer

Wednesday, June 1, 2011

In an article in United Press International, David Greene of the Department of Energy Web site fueleconomy.gov told the newspaper: "Drivers try to do what they can, but they have to go almost all the places they go. There's no magic gizmo that will drastically change someone's gasoline use."

Ahh, but there is. When a driver begins using M85 or E85 instead of gasoline, they have just drastically changed their gasoline use — dropping it from 90 percent gasoline to 15 percent gasoline, just like that. And this dramatic change in fuel consumption could happen quickly with the passing of the Open Fuel Standard Act.

The article says, "Goldman estimates oil could reach $135 per barrel by mid-July, with accompanying gas prices hitting the $5-per-gallon mark, the New York Post reported Sunday."

It is exceedingly difficult for the American economy to recover with that kind of burden placed on its transportation sector. We've got to free ourselves from our vulnerability to oil's global price instability. And the most effective, least expensive way to move in that direction quickly is the Open Fuel Standard Act.

Please urge your representative to co-sponsor the bill. Here's how.

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