Posted by: Lawyer Sanders | June 30, 2008

Economic report predicts $7 per gallon gasoline in two years for Americans.

CIBC World Markets’ economics team just published a new energy report predicts $200-a-barrel oil in as short a time as two years. If that happens, gas would likely go up to $7 a gallon – and that would have an enormous adverse on middle class Americans.  For example, it would make owning and operating a car, SUV, or light truck too expensive for many Americans.  The report is at: http://research.cibcwm.com/economic_public/download/feature1.pdf.  The economic report signals the impending death of SUV and full-size pickup trucks for the majority of the American public.

The report is from a division of the Canadian Imperial Bank of Commerce, a leading North American financial institution providing a full menu of financial services to more than nine million clients, including retail and small business banking clients as well as corporate and institutional clients. 

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