CNBC Star and Financial Analyst Jim Cramer stated on tonight's NBC Nightly News that he predicts that Gas will be at least $5 a gallon and possibly $6. This was in response to guests on his show stating that $12 a gallon gas is possible. Jim stated that he doesn't think that will happen but $5 a gallon gas is definitely possible and very probable.
So while our government sits idle in Washington proposes no fixes other than attacking the Oil Companies and drafting a bill that will allow us to sue OPEC countries. The reality is that we should address the problem in a pro-active way like developing alternatives quicker such as more fuel efficient cars, mass transit infrastructure and the commercialization of green alternatives such as Cellulosic Ethanol, Bio-diesel, Regenerative Energy. We should also the increase in taxation of gasoline and the tax on vehicles that receive less than 20 miles per gallon highway. These taxes will help fund infrastructure improvements and research towards alternatives.
Fortunately, we have the private sector that is already working on alternatives, but how soon will it take for them to get to the market and can the people that need them most afford them? Most expect Plug-In Hybrids to enter in the market in 2010. We need options now as the price of gas nearly increases $0.10 per two weeks on average.