Not going to happen, not going to happen, wouldn't happen anyway.

Considering China's demand is going up at ~5% per year, we would have to match that just to keep things the same.

That's not going to happen, IMO.

exactly, that is why all this ridiculous biofuel money waste and hybrids, luxury taxes on oil companies, basically everything the government has ever done to combat it are not solutions. china is 12 times as large as the united states and india is many times larger too. we are not going to be dictating demand, they will be.

we can cut back all we want - it will lower the cost to you but its never going to change the scarcity of the resource that is becoming exponentially more scarce because of china and india being developing countries

no solution will exist until personal electric transportation, in my opinion. too bad the government doesnt spend money researching that instead of people-pleasers like beating up oil companies and trying to turn crap into gold, i mean corn into gasoline

This can't be good...

Oil prices soar after Energy Department reports falling supplies
http://biz.yahoo.com/ap/080611/oil_prices.html

This is the most ignorant thing that I have ever read here at the planet.

Free markets are controled by the LAW of Supply and the LAW of demand.

These are mathematical functional relationships similar to the LAW of gravity.

The only thing that is debatable is whether or not the oil markets are "free" or not. Certainly we are not dealing with a free market in this situation, because if we were, the congress would not be impeding suppliers from gathering supply to meet the demand. Further, on the supply side, we have a well established oil cartel that is seeking to maximize their profits by controling the supply to an optimal point for them irrespective of the demand, the price of which is certainly above what it would be in a free market.

On the demand side of this, is the slope of the demand curve. For this particular commodity, we have extremely inelastic demand curve. In other words, for each percent increase in the price of the commodity, the percent decrease in demand is much less than 1 %. It takes time to change vehicles, organize car pools, decide to walk or ride a bicycle.

The marketplace is doing exactly what it should be doing. It is turning up the heat on the joke ass candidates for President. It is screaming out loudly to them, "What kind of leadership will you show in this area?"

The answer so far is, " I won't drill in Anwar it is as precious as the Grand Canyon and we must save it for our grandchildren"; Or the more draconian and stupid of the two, "We must punish the suppliers for doing their jobs and take their money."

Either way, this is not leadership. Add to that, we have doddering lame Duck POTUS who has obviously quit giving 2 rats asses about doing his job, once again, lack of leadership.

So far McCain is at least for more Nuclear power, which, if we are going to run electric cars and trains, we will need the megawattage to do it. This needs to be done yesterday.

Go on, go head and have the audacity to hope and see what it gets you.

don't you mean... have the audacity to hope in one hand and crap in the other, see which one fills up first

Peeeeeeeeeeeeeeeeeeeeeeeeeeeeak Uraaaaaaaaaaaaaaaaaaaaaanium!

Are there any studies/labs/experiments on Cold Fusion currently going on?

I'd be curious on any progress that happened.

Val Kilmer stole this information from Elisabeth Shue. Authorities are still working on the case.

Face it, we need oil, lots of it. The Chinese get it, the Russians get it, the Saudis get it, WTF can't Dumbocrats get it?

Oil=power, economic independece, the very blessings of liberty.

$3.95 national retail average, down $0.12 over the last two weeks. Reached a high of $4.11 on July 16.

So ive noticed. What gives?? People are using less and selling off those SUV's?

Will it be under $2 by the winter?

We will never see that again.

Big picture is that crude has dropped from highs in the $140s/barrel to $120s now. Demand in the United States is down ~4% That's significant.