[MNJohnnie]

Nope because on the world market it is a drop in the bucket. But if we would quit dicking around and increase US production by millions of barrels a day, you would see the price drop.

I see on a number of threads you are desperately clinging to your personal political dogmas rather then learning anything about Energy production. This link will help. Read it.

http://en.wikipedia.org/wiki/Supply_and_demand

The problem here is Supply and Demand. All the various things you seem to think at work here (speculators, price gouging etc) are only possible in a market that suffers from inelasity of both supply and demand. Speculators can only speculate on the trend line. The trend line in Oil is for increasing demand and flat supply. Currently we are not doing anything to produce any significant change in that equation. Lifting the ban on various US Domestic Production would send a signal to the market that we are serious about increasing production.

So we have two choice. Significantly reduce our standard of living so we do not Demand so much energy. Significantly increase the production of Energy to meet our demands.

[Realism]

Lifting the ban on various US Domestic Production would send a signal to the market that we are serious about increasing production.

I thought I saw somewhere that the ban in many of these areas expires in 2012, not a huge leap into the future. Since new facilities coming on line and word of increased output, and ME countries storing oil offshore have no impact whatsoever, I have ruled out supply and demand. I we were to open up land today the market knows development is not instant or immanent. If the futures market trend isn't reversed then high prices and conservation will be all thats left to do.