Quote:
Originally Posted by ME_Andy
I don't expect gas prices to ever top $3/gal again (national avg). Too many people like Neil are going electric and they won't be switching back.
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The price of fuel is guaranteed to go above $3/gal in both nominal and real terms.
Just because Neil can afford a $40k vehicle doesn't mean others can, and other countries are in varying stages of development and will keep demand for fossil fuels strong for quite a long time.
All mineral resources become more scare over time, so their prices must increase. With a positive world population growth rate, demand for scarce resources increases their value.