Financial Shakeup this weekend

[emayer]

Rather than claiming "conspiracy theories" or "sticking one's head in the sand" I would kindly ask that you consider my opinions with more scrutiny as I am precise in my wording.

What I wrote is given that supply has been constant, the 40% increase in the price of gasoline in this country over the past year cannot be explained by demand ALONE.  Frankly, to believe otherwise in my view is rather naive.  For example, there are those who claim that there has been a spike in oil futures volatility since the laws were relaxed several years ago to allow brokerage houses (those that are not direct consumers) to take part in trading.  Gasoline consumption in the US this year has decreased substantially for the first time since the oil embargo of the 1970s.

As I stated, the ultimate goal has to be an overall reduction in consumption, but to be truly effective we need to cultivate energy independence from within our borders.  This means exploiting oil, coal, wind, solar, and yes nuclear capabilities.  To think that a unilateral approach to solving this issue or a technological breakthrough "cold fusion anyone?" is imminent would be shortsighted.  In the end, it's not the current price of oil that is relevant, it is how we as a country react to this issue moving forward.  I think we can all agree that our politicians on both sides of the isle are failing presently.

One other thought:  While I respect Sam Bodman's views and do not argue that worldwide demand has increased.  Any idiot can see this.  The next questions I have to ask are as Energy Secretary, what corrective measures has he proposed?  Since these events have been in the making for several years, why are we only acting now?  Talk about having your head in the sand....