I find this kind of like the chicken little syndrome. If the housing market kept going up soon no-one would be able to afford a home of any kind. This is only a correction and it;like gas will pass. The alternitave ie: high interest and inflation aka; the 1980's is not a nice thought.Watch your spending and be carefull, and you will be ok. Steve

I doubt the gas problem will just "pass". The only way gas will go down is if we all start using less.

Or will gas drop to $1.20 and then we should be happy? It would still be way over priced.

One school of thought is that we’ll never see gas below $1 a litre anymore due to the increase demand of oil from emerging markets (China & India).

Another theory is that the continual rise in price is due mostly to speculators and that once they take their profits and run we’ll see a sharp drop in oil which will result in lower gas pries at the pump. MP Dan McTeague believes this as do many economists around the world.

Lets see what happens in a year’s time. If its still over 1.30 a litre, the first theory will be deemed correct.

I'm with the Economists. Same thing happened when the Privateers started banging on doors.