In any event, what’s making it expensive isn’t some evil hidden unseen force or govt intervention, but rather A) a weak dollar and B) the fact that demand until recently was increasing unchecked and rapidly while supply remained static. When you have a commodity that’s got a VERY tight correlation between supply and demand and is so widely traded (and inelastic), any fluctuations with supply, demand, or the currency used are going to have dramatic effects on price.

The one good thing about recent events bringing the cost down is at least we can do away with the silly argument that regulating speculation (funny how many on the RIGHT were calling for govt intervention in the market there–probably because they want desperately to find some lipstick to put on their favorite pig in the energy business) was the answer. Speculation still goes on, and yet the price has plummeted because of financial market disarray and a strengthening dollar, not to mention people finally driving less and thus demanding less energy.

Tom Friedman really nailed when he pointed out that “drill baby drill” is like going to an IT convention and saying “typewriters baby, typewriters”.

The answer is invent, baby, invent. The left and the right are both wrong. The answer to expensive energy isn’t taxation and windfall profit savaging, nor is it more and more of the same.

The answer is better technology.

We have all those and more in play within the oil market. Some of those are regular features of the market, but most of them are artifically created by government intrusion.

It’s funny, and a bit sad, that so many people are pointing fingers at the oil companies when most the trouble we’re experiencing is a result of massive government interference in the market.

Nor is the oil industry super, highly profitable compared to many other major industries, by the way. Shall we look at the money being raked in by “Big Education” for example? How about the money made in entertainment, including sports? Hmmm? Which Democrat is going to “take those profits” and put the screws to “Big Box Office”? Then we can discuss the money machine that is the government-run lottery industry if we want to see a genuine scam, with real losers and real-life racketeers.

Sarah Palin as governor raised taxes on oil producers and used the proceeds to give a large check to everyone who lives in Alaska. So is Sarah Palin the reason that we have higher gas prices?

That’s exactly the sort of thing I would write in making fun of the loons. You sure this wasn’t one of our guys doing just that? I know, it’s really hard to tell the difference.

The “windfall profits” tax on oil companies eh? All that’s going to do is RAISE the price of gas as the oil companies will pass that tax on to the consumers. I’ve never taken a economics class (I’m a high school dropout with a GED) but I can understand that!

First, the NRA has not delivered a single bloody wheelbarrow of cash to my doorstep, and I have been writing pro-gun weblog posts for years now!

And now there is some Evil Big Oil Company money train I am missing out on? Why is it that no one ever tells me this crap?

Sorry, couldn’t help it.

I mean, there are plenty of people in India who are willing to do our jobs as programmers much cheaper.

It’s fun to watch them squirm as they try to come up with reasons why their family is important and they’re not asking for as much as the evil gas station owners.

Another funny thing is that most people who cry gouging also seem to think Exxon directly tells all 18,443,238 of their stores what prices to sell at.