Why Are Gas Prices So High?

Neoconservative Matt Drudge blamed Al Gore for "high" gas prices in 2000. Oil had gone from under $20 a...

barrel during the previous year to $30 barrel. Seven and a half years later with two rotten oilmen bush and cheney in office, oil has skyrocketed to $140 a barrel, and republicans are still blaming Democrats. http://www.buzzflash.com/articles/analysis/314 Do cons overlook the fact that the oil industry literally wrote America's energy policy in secret from cheney's office shortly after bush took office in 2001? Do cons overlook the fact that Exxon/Mobil set the record for the most profit ever made by any corporation in the history of the US, breaking its own record that it set the year before? Are cons overlooking the fact that Exxon/Mobil's former CEO, Lee Raymond, retired at the end of 2005 with a $400 million retirement package, also the largest in the history of any public US company? http://abcnews.go.com/GMA/story?id=1841989 Too bad cons didn't listen to the Democrats. Must cons always learn life's lessons the hard way? For instance, is being punished by the reality of $4.50/gal gas the only way for them to learn that buying their Hummer, a.k.a "the bushmobile", was as bad an idea as voting for bush, TWICE?

Public Comments

1. HUSH now, Matt & his friends are deep in DENIAL at the present time.
2. I listened to the Democrats in 2006 when Nacy Pelosi promised to reduce gas prices if the Dems took control of congress. How did that work out ?
3. didnt you know, those 'damn liberals' are at fault for everything. and con leadership is our salvation.
4. Who really believes anything that closet case says anyway?
5. you speak years wiser than your age
6. You may thank your democratic Congress and nancy pelosi for the rise in gas prices and NOT Mr. Bush! Oil has doubled in the last 2 years since Pelosi took office!
7. We still drive SUVs b/c we can afford gas. I am not choosing between gas and food, like the Liberal media tries to paint everyone.
8. hahahah matt drudge. common, the guy didn't even finish high school.
9. Matt Drudge is very subtly supporting Obama for President this year. I think he learned a hard lesson. But you are correct overall. A lack of a publically influenced energy policy has put us in the position that we are in right now. Business and industry have repeatedly proven that they cannot be trusted to be good stewards of the public interest and to allow them to entirely set a national policy, borders on treasonous.
10. Let's see. Since the Dems took control of congress, gas has doubled in price, when it was relatively stable prior to that. I wonder if I should allow facts like that to enter the equation, or if I should just continue to blame Bush. Hmmm. Decisions, decisions.
11. YOU FAILED ECONONIMICS
12. The difference is, many Chinese have turned in their bikes for cars. Same for India.
13. Why do looney libs refuse to acknowledge that it is their failed policies that have this country so far in debt? Wouldn't it be refreshing to get the truth from congress? And, perhaps personal responsibility?
14. When the Dems took over Congress in 2006, they promised to lower the gas prices which were around $2.10-$2.50 depending on where you lived. They sure did! They made that price look like a F***ing bargain compared to today's prices! The President has NO control over the Oil prices. Congress has more of an effect on Oil prices because of the Policies they make. Does the fact that the Govt.(State and Federal) makes more in taxes on a gallon of gasoline than the Oil Company that produced the gasoline in the first place even bother you?
15. Why does it surprise you. The republican theme is blame everything on democrats and the weak mindded will believe.
16. It went from $1.29 to $2.75 until Bush and Cheney knew that they lost the Congress, then it the last two years it doubled again because of the Democratic congress, not bloody likely. It's typical of Republican revenge politics.
17. To blame anyone but Bush for this is completely off base.
18. Matt Drudge was wrong for blaming Gore for a price in crease in oil in 2000. However you are wrong for blaming the president and vice president for the high oil prices of today. In economics, prices are set by the market place. In the last 8 years a few things have happened that have raised the price of oil considerably. 1. The emergence of China and India. Both countries are using massive amount of oil. The more demand for a product, the greater the price. 2. Conflict in the Middle East. The price rises when there is a possibility of a disruption in production of a commodity. Look at Natural Gas in 2005 (Katrina) or currently the price of Corn and grain ( Flooding in Iowa and the Midwest). The only difference is that the Middle East is constantly under those stresses. 3. OPEC. OPEC does everything they can to keep us paying as much as possible without totally driving us away. Currently American seem to have a high tolerance, but I think the breaking point is nearing. Think of OPEC like a drug dealer and the US like a crack addict. They are essentially a drug cartel. Blaming Exxon/Mobil and others for high profits will do nothing. What are you going to do tax them? They will just pass the tax onto the consumer. $4.50/gallon gas will turn into $6.00/gallon gas. Until we can produce more oil here or seriously reduce our consumption, this problem will still be here. And don't look for the politicians to save us, both parties are owned by big oil.
19. The reasoning is still the same. Gore and other liberals have torpedoed every attempt to expand domestic oil supply, even during Bush's term. That means we have to import more and are at the mercy of the oil sheiks.
20. Now, now, now. Settle down. The Democrats talking points are so bad for your blood pressure. Drudge isn't a "neo conservative." That's a small group of highly intellectual former Democrats who left that party over defense issues decades ago. Except for defense, international affairs and some economic issues, they have little in common with most Republicans and certainly not on domestic issues. "Neo-con" has become a rude slur by the left for conservatives and it poisons civil discourse. Don't shoot the messenger. Drudge is reliable. Gore and his enviro-buddies have been responsible for increased costs, the ethanol debacle, and soaring poverty in the developing world. Lee Raymond's severance shouldn't be an issue. Many supporters of Democratic causes such as George Soros make far more than that for much less responsibility. Lots of Hollywood stars, recording artists, and professional athletes, not to mention trial lawyers and the Wall Street hedge fund traders who are contributing very heavily to Obama's campaign, the DNC and the 527s this year make FAR more than that. They do very, very little for that money. Some of them simply spend a few month making a movie or a couple of hours trading the oil commodity futures that are running up the cost of our gasoline. The oil company profits are still in the 6% to 8% range far less than that of most companies from your local Starbucks to Apple Computer. Those aren't "record profits." The Democrats love to express the profits in dollar amounts as part of their fear-mongering and free-enterprise bashing. If they want a windfall profits tax, let them also tax the windfall profits of ALL companies. As soon as Hollywood has to pay a windfall profits tax on the difference between the worldwide gross of $800 million over the cost of $200 million on a movie, the Democrats will change their tune. FAST.