According to the global head of commodities research at Goldman Sachs, oil prices are likely to reach $150 this summer. You’d better start saving up some extra cash for those fuel pumps. If there was ever a time to think about getting a second job, now is that time.

There is good cause for concern about the rise in oil prices due to the fact that Americans simply cannot seem to keep up with the rising prices. It’s almost as if we were completely caught off guard by this gas crisis. Between the gas crisis there is also the issue with expensive health insurance and the rising cost of food, so pick your poison. What fools we were to think that we’d be able to buy gigantic SUVs and live off of an endless supply of $1.25 per gallon gas prices. Oh well. Welcome to everyone’s nightmare.

Investment bank, Morgan Stanley, is now predicting that the price of crude oil may even reach the already predicted $150 price by July 4th due to strong Asian demand and falling inventories. We’d better get those hybrid cars out to as many dealerships as possible then! Perhaps things would be different if gas prices continued to rise slowly. But because they have had such a sudden spike in price in such a short period of time, people are up in arms about it. Many complain that they are not being paid enough to cover the cost of their fuel expenses as well as their general cost of living (i.e. bills, etc.). One thing is for sure; I definitely don’t want to end up having to pay $5 a gallon this summer for gasoline…but like most other Americans, I may not have any other alternative..

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