$3 Gas Will Seem Cheap One Day! Thursday, June 1, 2006May Day, May Day, $3 gas will seem cheap one day! Gasoline prices rose to over $3 a gallon in many major cities last week, bringing back memories of last year’s hurricane disaster, and causing even the world’s most powerful ex-oilman, President George W. Bush, to develop a whole new vocabulary – full of phrases like “price gouging,” “fuel-efficiency,” and “alternative fuels.” Well, certainly oil companies such as Chevron CVX and others in our portfolio have been making healthy profits these days – and they probably will continue to do so for as long as oil prices remain in an uptrend (i.e. for the rest of our lives). We don’t begrudge them their profits, especially when we own shares in them. Besides, if you accept the prevailing notion that the world is full of oil, then the oil producers will surely invest their profits in increasing oil production, which will in turn bring prices back down. Read more about $3 Gas Will Seem Cheap One Day!