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Soaring Gas Price Will Push Millions Off the Road Says CIBC Report
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Posted on
Jun 27 2008 5:49 AM
by
adeal
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Soaring world oil prices will drive the cost of gasoline in the U.S. into the stratosphere over the next two years, forcing many Americans off the road and drastically altering the driving habits of millions more, according to a report released Thursday by CIBC World Markets. The report, prepared by economists Jeff Rubin and Benjamin Tal, predicts that the price for West Texas Intermediate will rise to $150 per barrel next year and to $200 in 2010.
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