Oil prices are high because demand is high. Demand is high because the global economy is booming.
Oil prices are high because W wants them high along with other commodities. Sure, supply and demand could account for $15 to $20 above a $25 base, but the rest is ridiculous. Commodities ideally should not go up or down in price very much.
Scream about it all you want, but W is one of the worst economic presidents there's ever been.
Forget all these bubbles and favoritism for particular sectors. Give me the rising tide that lifts all boats that JFK and Reagan promoted.