Gas to Rise to $7 per Gallon

We told you so two years ago. Search the archives of the Fairbank Report for "$3 Gas is Cheap."

There is NO supply issue. OPEC is holding back on production and reaping huge profits. It seems that economic axioms are falling every day. Classical economics argues that cartels are inherently unstable and unsustainable. So far, the oil cartel has proven quite robust as the price per barrel of oil has rocketed to an all-time high of $132; it was $11 per barrel in 1999!!