Mary,
I have to agree with the sentiment of "we've been getting away with low gas prices for years" especially when you compare like for like with Europe. In France we currently pay the equivilent of $5.82 a gallon US and it is higher in UK.
It is particularly galling for the UK as it is actually an oil exporting nation, unlike the US which only produces a quarter of its oil and gas demand internally (even with the Gulf fields). Due to the light nature of UK North Sea crude it is ideal for making LPG and Petrol (gasoline) so what we don't use ourselves is actually shipped over to USA to be refined. So in many ways the current high crude prices benefits the UK economy , even if the high petrol prices annoy people.
The big problem at the moment is, and has been for some months, not supply of crude but the US inability to refine enough crude to meet it's domestic demand for petrol and heating gas/oil. Every time there is an incident that reduces the refining capacity we see a spike in oil price. The fire at the BP refinery, hurricanes, tropical storms etc. It seems particularly unfair for the demand of one nation to control the entire world. The current events with Katrina are crippling farmers in the Phillipines, couriers in London and weavers in Africa as their costs have gone up but they can't get any more money for services and products.
The high oil price is here to stay I'm afraid, and I can see it hitting $100 a barrel in the very near future. If you really want to do something then can I suggest you start to spread the word about energy efficiency.
Simple things like turning off lights when you don't need them, turning the thermostat on the A/C up a degree or 2 (you'll not notice the difference but your wallet will) and the opposite with the heating in winter, using a timer switch so the A/C and/or heating don't run when the house is empty, turn the TV off at the switch not leave it on standby, try to buy energy efficient appliances when you replace, insulate homes better, make sure your tyres are at the correct pressure, keep the car clean (believe it! a clean car uses less fuel), think about a smaller car (shock horror!) or think hybrid (Lexus even do a hybrid SUV).
Everyone thinks "what's the point I'll have no effect" but if everyone in the USA made a small reduction in their energy demand the cumulative effect would be enourmous. The US economy could even benefit as costs would reduce making profits better. Makes great economic sense to me.
Don't blame the oil companies, the futures market or even the government but take a good look in the mirror. It is the demands for energy of the gool old average American that lie at the bottom of the current oil price rises. You do have the power to change it but it is up to you, the people, to make it happen.
Do it for the money, keep it in your wallet don't waste it!
Alex
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