[TLI]

Read the article.

YEP!

[Uncle Miltie]

A: We drove less.

Duh.

Reduce demand and prices fall.

Even 0bamessiah hasn’t repealed that law.

[VanillaBlizzard]

I wouldn’t say that the free market SOLVED the high gas prices. Yes, the demand for gas went down with our economy and that brought prices down, but it was not our free market that just let it go and the prices magically cut in half....

Because our economy is bad now no one is driving or driving a lot less. So yeah you can say it went down because of less demand which IS because of our free market economy, but I would say it’s more because OPEC doesn’t wanna lose their a**es by charging high and not selling as much.....

[KarlInOhio]

Some of the credit goes to the announcement of allowing drilling in more places which helped to burst the speculators' oil bubble. I expect that the drilling restrictions will be put back into place very soon, so enjoy your oil while you can.

[ZirconEncrustedTweezers]

This is a good illustration of what Adam Smith called the “invisible hand”. Sadly, I don’t think our new administration will even try to take any lessons away from it.

[dan1123]

Answer: Commodities stopped being an “investment” with a “return” and returned to being commodities again. Maybe investors have now realized that speculation rushes are not the way to make money after losing their shirts in commodity and real-estate derivatives.

[TexasCajun]

And I thought Democrats & Big Media was telling us we couldn't drill out way out of high energy prices.

Just look at the US rig count numbers from 2002 and today, or back in August.

Commody prices are causing 20-25 drilling rigs per week to be 'stacked' without a contract.

[RoadTest]

Yes, but Democrats don’t get it. And Democrats are in control of two out of three branches of the government. Maybe 2.5 out of three.

[The Great RJ]

Because we are driving less and buying more fuel efficient cars federal and state gasoline tax revenues are down prompting calls for raising excise taxes on gasoline. Of course we will also have to add some taxes on oil company profits and some environmental taxes and voila $4 per gallon gasoline even while world oil prices are at less than $50 per barrel.

[mysterio]

We solved the gas price problem by doing nothing and letting it destroy our economy.