Oil prices: bubble or reality

There is certainly plenty to grab on either side of the debate. Changing policies that change consumption take time. Sure, the US is using a bit less gas now compared to a year ago though there is little reason to believe India and China are suddenly using less. The most depressing segment of this article is the group saying "$130 per barrel is high but $90-$100 is more realistic." The average price per barrel in 2007 was $64 so even if prices are in the $90-$100 range, that's a stunning increase over 2007 and that is before factoring in the rolling average for 2008.

At the moment, the Bush is desperately trying to re-make his image as a new born environmentalist. Who wants future generations to look back and point the finger at the last remaining idiot who blocked reform? The people who fell for his other whoppers will probably fall for such lies but even then, they probably will think he's caving in to lefties and going soft. The reality here is that much like other threats to America's long term security, the Republicans ignored this issue and own a lot of responsibility for the problems we face today. They all promised security but they've done quite the opposite.