Very few people on this planet do not understand Supply & Demand = Economics 101.
What is really funny is the response from the nation I come from – Canada. If anything we should be jumping for joy over oil prices. We are still a resource nation. Forestry and mining is dead. So finally our nation is making a killing off a resource. Instead a poll shows 50% of the nation wants the entire industry to be nationalized. How that will bring lower gas prices I am not sure. There is a market price for oil. So the government would have to borrow billions of dollars to purchase the entire Canadian oil industry. That billions of dollars will cost us millions of dollars of interest each year. If Canada then decides to sell it to its own people at say half the world market price, it is in effect subsidizing the gas price thanks to the Canadian tax payers. So in the end all that happens is instead of paying high prices at the pump, the consumer will pay higher taxes in April. Even if the government argued that the removal of the profit margin will money for consumers I could argue that government mismanagement will make up for that and then some. Fairly elementary economic reasoning, yet my compatriots can’t think quite that far …