HOGWASH

Group Taps Anger Over Gas Prices to Promote Government Regulation
“My family can’t stand these outrageous gas prices much longer.” That’s the pitch from a liberal-leaning group that is demanding more government regulation of the oil industry. Full news story.

Hogwash. We have too much government already. That's why our prices are high now. Taxes on gasoline, a ban on drilling and on building new refineries, has contributed greatly to increased energy costs. These are market manipulation policies of our government that are key factors in our gasoline prices today. So don't tell me we need more government regulation. We need less.

Tangentally, a limited supply of oil - whether real or imaginary - will cause the speculators to bid up oil futures, thus causing the cost of a barrel of crude oil to go up.

These "failed policies of the past" (are you listening Obama?) coupled with an increase in global demand and our existing self-imposed restrictions on oil production is going to limit our supply. Demand up, supply down, equals price escalation. Elementary, my dear Watson. - ( HH)