After some hemming and hawing on the matter, Saudi Arabia looks ready to increase oil production in an effort to reduce oil prices. According to reports, the Kingdom is concerned that high oil prices will eventually shrink global demand for oil.
Yes, heaven forbid we ever move on to a more sustainable energy source.
Of course, [...]

And this idea comes from no less than the Conservative government…
Canadians will be offered bicycles, public transit passes or cash if they agree to scrap their old gas-guzzling vehicles, the government said on Wednesday.
Ottawa says five million of the 18 million cars and trucks in Canada were made before 1996, when tougher emissions standards were [...]

Folks, $4 gas isn’t going away any time soon.
From the AP:
NEW YORK (AP) - Oil prices made their biggest single-day leap ever Friday—clearing $139, dragging the Dow Jones industrials down nearly 400 points and raising the once-unthinkable prospect of $150 oil and even higher gas prices by the Fourth of July.
The meteoric rise of nearly [...]

Gee, I wonder why…
CEO Rick Wagoner said Tuesday before the automaker’s annual meeting in Delaware the plants to be closed are in Oshawa, Ontario; Moraine, Ohio; Janesville, Wis.; and Toluca, Mexico. He also said the iconic Hummer brand will be reviewed and potentially sold or revamped.
Wagoner said the GM board has approved production of a [...]

T. Boone Pickens is a guy who has one of those names that sounds made up, but his fortune is very real. Now he’s diversifying his portfolio with green energy tech.
Here’s more from Contrarian Profits:
Crude oil soared as high as US$135 a barrel last week - more than double the price of a year ago. [...]

Thomas Friedman thinks the federal government should mandate $4.00 a gallon gas. Why? Because now that we’ve pretty much reached that price point, people are finally changing their habits, driving less and buying smaller cars. Friedman wants to make sure we don’t go back to our gas-guzzling ways.
For many years raising gas taxes to spur [...]

Feeling the pinch at the pump? Starting to rethink your extracurricular driving activities?
You’re not alone…
Compared with March a year earlier, Americans drove an estimated 4.3 percent less — that’s 11 billion fewer miles, the DOT’s Federal Highway Administration said Monday, calling it “the sharpest yearly drop for any month in FHWA history.” Records have been [...]

In March 2007, I wrote about the Peak Oil theory and posted a pretty alarming video. And now that we’re seeing record gas prices, the whispers of peak oil are surfacing once again.
So, here’s the video that outlines the theory…

Then, here’s a post from the Prometheus: The Science Policy Weblog about the topic and how [...]

How do they explain their record profits? Good planning? Price gouging? Lucky breaks?
First CBS has this report…

I like that…the reason their profits are so big is because their companies are so big? I guess we all should just start building bigger companies then, yeah?
Then from the AP, and note how one of them talks about [...]

Here in Kansas City, MO, the gas prices are nearing $3.70 a gallon. And with news like this, I’m guessing we’ll see $4.00 very soon.
From AP:
The June contract for light, sweet crude traded as high as $129.58 on the New York Mercantile Exchange before settling back to $129.12, up $2.07. The imminent expiration of the [...]

Four dollar a gallon gasoline has hit Alaska and Connecticut and the rest of us are not far behind. The national average is $3.787 and prices have gone up for ten consecutive days.
So, I’m curious, have you made any changes in your life to account for the rise in gas prices? If not, how high [...]

Yep, it’s getting worse.
So how long before $200?
Well, if we move against Hugo Chavez…probably not that long:
On Friday, The Wall Street Journal published a report that suggested closer ties between Venezuelan President Hugo Chavez and rebels attempting to overthrow Colombia’s government, heightening chances that the U.S. could impose sanctions on one of its biggest oil [...]

She’s talking pretty big about going after big oil…but can she really do anything about OPEC?
Politico reports:
“We’re going to go right at OPEC,” she said. “They can no longer be a cartel, a monopoly that get together once every couple of months in some conference room in some plush place in the world, they decide [...]

And what’s really nice is they actually sang their statement in the round. I wish I had the audio because it was quite lovely.
From Bloomberg:
May 5 (Bloomberg) — More than 200 economists, including four Nobel prize winners, signed a petition rejecting proposals by presidential candidates Hillary Clinton and John McCain to offer a gas-tax holiday.
Columbia [...]

Since she can’t find any economists who will agree with her, I guess a lobbyist will have to do.
From ABC News:
“There’s not an expert out there that believes that this is going to work. There’s not an editorial out there that has said this is actually the answer to high gas prices,” Obama said of [...]

Robert Reich notes something Hillary said during her appearance on ABC’s This Week today…
When asked this morning by ABC News’ George Stephanopoulos if she could name a single economist who backs her call for a gas tax holiday this summer, HRC said “I’m not going to put my lot in with economists.”
She’s not going [...]

That’s one of the last lines of this commercial. Think that’s a bit of an overstatement given that Clinton and McCain are proposing that this is only a Gas Tax Holiday?
Watch it and judge for yourself…

Honestly, please explain to me how this proposed legislation will bring the gas prices down for the foreseeable future.