Aspen-based energy economist Phil Verleger said retail gasoline prices could reach $4.50 a gallon by this spring or summer, when seasonal demand increases.
"It's going to be ugly," Verleger said.
There aren't a lot of people who can absorb an overnight 50% increase in gasoline prices.
At some point, someone will point out that we have a huge reserve of oil in Alaska that has been put out of reach by the environmentalist extremists in Congress like Mark Udall. At some point, someone will point out that Mark Udall and Ken Salazar oppose oil shale development in western Colorado.
Mark Udall does, however, favor drilling for oil offshore. He has said so.