Dollar Falling, Oil up in reaction to Bush

[opebo]

The correct level for gas right now, considering supply and demand factors is around $50 a barrel, which will translate into gas slightly right at about $2.00.

Regardless of your opinion of the 'correct' price for gas, Spade, the point is that the American working class is being priced out of its accustomed lifestyle of endless driving by two things - 1) declining wages and 2) gas prices steadily increasing in the long term. 

The fact that this lifestyle is a misery in and of itself is irrelevant, the politically relevant point is desperation.  Admittedly there is less desperation at $2.25/gallon than at $3.00 per gallon, but there is still a lot more than there was at $1.25/gallon.  Particularly when wages have not gone up in real terms in decades, while prices for housing and other necessities are increasing rapidly. 

[dazzleman]

Oil is a supply and demand thing and cannot be blamed on President Bush. The demand has increased greatly yet the supply has at best remained the same. OF COURSE THE PRICES WILL INCREASE. I have no problem with this. We will pay 20 dollars a gallon for water, which we can get for free, and yet we whine when we have to pay 2 dollars a gallon for a natural resource which is increasingly difficult to find. Bush went to war to increase our share of the world's oil. A lot of conservatives bring up the point: it was either war or domestic drilling and most liberals oppose both. Their is another option, and one which neither side has given much thought to: Alternative Energy. If we put as much money into wind/water energy, and into research for hydrogen powered cars as we put into all of our wars, we would not have to worry as much about high oil prices. The best way to make the prices stable is to decrease demand, not to increase supply. Rather than drive an 8MPG SUV drive a 30 MPG car, or perhaps even a hybrid or electric powered car. Although it takes oil to generate the electricity which the car runs on, the amount of oil consumed is substancially less. Rather than drive seperate cars, carpool. Don't run your heat in the house unless you have to. We have what, 1% of the world's population but we consume, but we are responcible for at least 1/4 of trhe world's oil consumption. Bush is not responcible. We are, the american people.

This is a very good analysis.  I don't think the ratios of population to energy use are quite as bad as you say, but overall the reasoning is very good, particularly your conclusion.

EDIT -- Just noticed the year.  I thought this post was from last week.

[??????????]

Oil and gas prices are nothing compared to what they're going to be in the coming years, after global production peaks.

http://www.lifeaftertheoilcrash.net/

Any idea of an "oil peak" is bunk.