Get Ready for $5 Gasoline at the Pumps!

 Gasoline prices are headed for $5 a gallon in many locations in the United States this year, says John Hofmeister, founder of Citizens for Affordable Energy and the former CEO of Shell Oil’s U.S. operations.  "What's really unprecedented is developing countries, particularly China and India, have this insatiable need for more oil and that has not been taken into account when we think of public policy in this country," he tells CNBC.

Now, at $5+/gallon, those Chevy Volts suddenly look a whole lot better in spite of those "extra fire extinguishers" that you need to purchase when you buy this car.