What's your reference?
"+$70 per barrel oil is ridiculous."
Reference?
" There is no oil shortage."
Reference?
"We might run out of oil someday, but not today."
$70/bbl says you're right.
"There's actually an oil glut."
With respect to what reference?
"The record high prices are due to speculation and market manipulation.
The speculation regards the fuzzy particulars effecting future availability in the midst of rising demand. Market manipulation is psycho babble, otherwise present your findings to the DOJ.
"At this point, I'd be looking to short oil, because there's plenty of supply to meet demand.
Your reference is missing and if you really had the oil to short(BS walks, money talks), there'd be plenty of buyers.
"I'll complain about the too high gas prices as much as I feel like it."
Feelings aren't valid currency in the market and generally aren't appropriate to economic theory, or rational discussion of economic reality.
I have a brokerage account with equity, so I can short oil or oil related stocks anytime I feel like it.
Your other points I'll have to get back to.
Must sleep now.
OK, now I've got a bit of time to answer.
Concerning how there is no oil shortage, and how there's actually an oil glut, if you do a news search on the words "oil glut", you'll find some current information on this subject.
http://news.google.com/news?hl=en&tab=wn&q=%22oil+glut%22&ie=UTF-8&scoring=d
Here's an article that might be worth posting.
Peak Oil Panic
http://www.reason.com/0605/fe.rb.peak.shtml
Here's another.
State seeks remedy to oil glut
http://www.jacksonholestartrib.com/articles/2006/03/28/news/wyoming/f235263e68876d708725713f0004b4e6.txt
As far saying the price of gas or oil is too high, or that it's ridiculous, that of course is just my opinion, verses the opinion of those who say it's really cheap at this price, and actually worth a lot more.