Originally Posted by
Turbosina
Yup I saw yesterday the Saudis are forecasting $180/barrel.
$150/bbl is generally considered the level at which the American economy will tip into a severe recession.
It hit $150 in 2008 IIRC, which with $4/gal gas was when the economy started to crumble.
$4 in 2008 is $6 in 2026, but wait, there's more. CAFE average fleet fuel economy was ~25 mpg in 2008, today it's ~34, a 35% increase. So $4 gas has a similar effect to the overall economy as $8 would in 2026.