If only one could know – in advance – when oil prices would bottom… right?
Well, on Fox Business Network’s Varney & Co. Wednesday morning, a well-known expert informed us he expects gas prices to exceed $4 per gallon again by the end of the year. That’s right; in 2015!!!
“Care to put your money where your mouth is on that?” the show’s host, Stuart Varney asked, in essence (I’m paraphrasing).
Would you take the bet? The guest, former Shell Oil President John Hofmeister did! Varney, of course, eagerly and confidently took the other side.
The $100 bet
Here’s a link to the video, if you’d like to watch these 2 aspiring futurists making a $100 bet. Oh, and you’ll be able to hear Hofmeister’s logic as well (summarized later in this article for your convenience).
Mr. Hofmeister must feel pretty secure in the deal he reached with Mr. Varney, since Hofmeister appeared on CNBC the day prior, predicting (sans bet) $5/gallon gas by 2020, saying the world will need 100 barrels of oil by that time, and that “we don’t know how to get there yet.” Continue reading "Would you take a $100 bet that gas prices exceed $4 again in 2015?"