30th Jun, 2008

Canadian economic report predicts $7 per gallon gasoline in 2 years with dire consequences for many 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 huge impact on the way Americans live.  For example, $7 per gallon gasoline 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 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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