Replies

You are correct for now. But your point assumes low demand or no demand for alternative technology, which has been the model in the past. When it hits $3.50 a gallon, the demand will be there, and we won't need the oil industry's approval or investment to inspire someone to come up with something to fill the demand.

I think first all of the good little statist worker bees will look to our pal government for help. They won't get any help, even though government could easily mandate one or two blends and cut the price quite a bit. Government could easily cut out some of the tax that artificially inflates the price. But they won't. The sad fact is that government is now and has always been too stupid to really help. The Republicans won't do anything, and the Democrats will bring it up as a campaign issue. They won't do anything about it, either. And we will keep on sending all or our discretionary spending money to the oil companies and OPEC, and our economy will tank. We are probably less than 2 years away from a recession if this continues.