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"Produce it in the USA, that problem goes away. so a simple solution in the near term is more rigs in the USA (like Natural gas, still cheap)...and less imports."

Uhh, inflation is inflation. It doesn't matter where it's produced, the dollar only has a certain buying power. And oil is still traded globally, at the global trading price. This isn't that hard of a concept.

Another interesting aspect that I was researching. England is almost entirely energy independent. According to the CIA World Factbook:

Oil - production: 1.861 million bbl/day (2005 est.)
Oil - consumption: 1.82 million bbl/day (2005 est.)
Oil - exports: 1.956 million bbl/day (2004)
Oil - imports: 1.654 million bbl/day (2004)

Now admittedly these numbers are a little old. But even so they show that England produces most of their energy requirements. Yet right now they are paying $8.55/gallon for diesel ( Link). Now they have huge taxes on their fuel, so without taxes they are paying approx. $3.50/gallon for diesel. See this website for a breakdown of taxes paid in England for fuel. http://www.abd.org.uk/taxtable.htm

So in comparison, we in the U.S. import 60% of our energy needs and produce 40% of it domestically, yet we pay about $3.99 a gallon for diesel right now including taxes. Diesel taxes average about $0.45/gallon in the U.S. so an untaxed gallon of diesel is about $3.54/gallon.

So a developed Western Super-Power country like England that is almost entirely energy independent pays about $3.50/gallon for diesel, and the U.S. a developed Western Super-Power pays about $3.50/gallon for diesel.

How do people think that by simply producing more of our own oil, that it will lower prices if it hasn't for England???????

I'm just asking. I think it's too simplistic to believe that the price of oil will plummet if we suddenly started to produce 60% of our own oil. I think there are other factors at work here.

It doesn't matter where it's produced

uhmmmm.....to those who struggle with economics, that may be true! For the rest of us....we will continue to produce where the costs are the lowest! Right now, that's the good ole USA! Watch as factories open right before your eyes! Europe is the HIGH COST producer, partly because of socialism, partly because the only thing that the ECB chases is inflation! They really don't get the concept of marketing...not at all! Especially Germany, where marketing is as foreign a concept as Freedom!