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$12 to $15 at the pump... eventually?

We've all heard the $200 forecast... but $12 to $15?

Written by Brian Hicks
Posted June 2, 2008

Can you imagine the havoc if gas prices spiked to $12 to $15 a gallon?

We've all heard the $200 oil forecasts.

But now comes the forecast for $12 for a gallon of gas, says Robert Hirsch, Management Information Services Senior Energy Advisor.

"[T]he prices that we're paying at the pump today are, I think, going to be ‘the good old days,' because others who watch this very closely forecast that we're going to be hitting $12 and $15 per gallon," Hirsch said.

"And then, after that, when oil - world oil production goes into decline, we're going to talk about rationing. In other words, not only are we going to be paying high prices and have considerable economic problems, but in addition to that, we're not going to be able to get the fuel when we want it."

While Hirsch has later said $12 to $15 wasn't his prediction, instead citing Charles T. Maxwell, he did admit that the high prices were inevitable.

Here's Maxwell on this morning's CNBC with more.
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