As I've said before, I think the response at the next quarterly profits from the oil companies earnings will be that of total "outrage". Of course, congress will huff and puff and do...................NOTHING. I wonder what it's going to take to get this stuff under control? We're making a LOT of our good friends in the middle east richer. This morning on CNBC, they were still talking about $50-60 a bbl, and that $20-$25 is a built in "war premium" that needs to be adjusted since nothing major is really happening. I'd really like to ask the traders who they think they're helping by jacking up the prices like they have.

They are helping their own pokets. The rich get richer and screw the rest. Wallstreet is such a racket.

What did you expect with an oil man in office?

Do you even think for one second that he's not thinking about his investments? Sure, they're placed in a private trust while he's in office but I'm sure he's thinking about his portfolio. If I recall correctly, oil prices were high when his dad was in office too.

Yep I agree with that. He is also taking care of his buds that got him in office. After 08' prices will come back down. Not that I am a blame Bush for everything but this kind of stands out.

Last week Maria Bartiromo interviewed him and asked him about high oil prices. He said he felt compassion for those being hurt by the oil prices but that the deficit had come down and he was working on other things to try and make the economy better. Oil prices appeared to be the LAST thing on this guys mind. He's more interested in being the president of Iraq rather than the USA from what I can see.

Aviation uses about 2% of the oil, ground trans is 25%, and homes use 23%. Southern Illinois has 200-300 years of coal supply. They do not want to build a coal gasification plant though. Coastal shelf has a few hundred years energy in methane ice. Liquid methane jumper to suborbital.

Does anybody remember what happened during the congressional inquiry about a year ago? The oil execs basically sat there and laughed at the questions.

And before anybody thinks I'm trying to bring politics into this against forum rules, I'm sure we'd all be paying $10 for a bottle of ketchup had the other guy been elected in 2004

It's all one, big disgusting buddy system.

Russia has access to oil development also.... I will pull up the article where Russia was told to NOT develop/produce oil I believe by OPEC. It had to do with basic supply/demand and maintaining OPEC's oil policy or OPEC quota. You control supply, you control PRICE! Why would you increase supply and charge a lower price for oil.... ALWAYS FOLLOW THE MONEY!

So why aren't these oil companies using their massive profits to build more refineries? Or maybe we should just let the speculators pick up the price. This "oil boom" reminds me of the internet balloon, and the housing balloon, and we see the results of those everyday. Personally I hope all these oil companies get their come-uppance soon. I do know for a fact their employees are treated like proverbial kings...........while we all pay for it. And what's up with this "crack spread" that the airlines get to pay for with their fuel purchases????

ACTUALLY CHEVRON just announced a 500million dollar expansion of their gasoline refining operations near here. It will substantially increase there daily gasoline production and should be done by 2010.