Oil Crisis: Blame Failure of U.S. Leadership, Not Big Oil

I agree with what was said about this Bush Administration 100%,they mismanaged the money supply and will have to pay the piper! golddreamer

Synchronize Traffic Lights to minimize acceleration/deceleration (instead of intentionally slowing traffic down for "Safety" reasons). Right now if you want to go 1 mile you have to accelerate and decelerate 6 times (because of the "Safety Nanny" Traffic Regulators) . Traffic Lights should be sychronized for maximum "Fuel Efficiency" not "Safety".

Yea, it is easy to blame the current administration, but not totally justified. Ever think that the Arab nation would like to see democrates in office? I think that they are trying to control our presidential election by not increasing oil production so that the demand will raise in turn, higher oil prices. They know how to hit us without ever firing a shot.

Henry needs to stick to tech. Firstly, he's forgetting that the congress is not "the President's administration". Anyone forget that the house and senate are controlled by dems? Henry's complaining about the house trying to sue OPEC, and Lieberman's commodity regulation. Sure Lieberman was kicked out of the dem party, but he's no republican under Bush. How is this a "Tech Ticker" topic?

Crude oil is traded based on the US dollar. The weak dollar value is the single largest cause for the rise in crude oil prices. In 2005 when the dollar was trading par with the Euro, crude was in the $50 per barrel range. The government should look to begin ways to improve the value of the dollar.....not blame oil companies, speculators or each other. Stronger dollar = lower crude price!

I was around in the 1970`s when in New Jersey you got out of bed at 4:00 am to wait in line to purchase five dollars worth of gas. I never forgot that even when buying new cars I always looked for the best milage as possible and try to conserve so what is happening should not be a surprise, it has been a slow brewing pot thta is now boilling over. it is long past due to remove our heads out of the sand. Chrysler tv adds make me want to puke they are they now savior to the crisis by offer 2.99 a gallon. A band-aid on cancer.

///Bush has also overseen a huge increase in the deficit, which has undermined the value of the dollar./// This is a LIE!!! Although Bush IS a criminal, so are ALL of the congress & SCOTUS who've allowed the FED to exist since 1913, for they ALL abrogated their oaths in defense of the constitution. The FED and ONLY THE FED, is responsible for printing money receipts (FRN's) in excess of bullion to back them. And that, and ONLY THAT, is the pure definition of inflation. More unbacked money printed reduces the purchasing power of all dollars that exist. NEVER in history were fiat currencies to help the people, but to help the tyrants ripp off the people. There was NEVER a case otherwise. Deficit spending SHOULD be unconstitutional. What makes it "legal" is the illegal Federal Reserve that issues fiat instead of gold and silver money that IS constitutional.

Aaron, What cheap shots you take at the Bush administration. You couldn't even find the time to research for something substantive. You'll probably have to lookup the definition of substantive. Your link about "discouraged conservation" is not to a news story but some silly ramblings of someone at Salon.com. It is a parody, not news. Obviusly, you can't tell the difference. As far as tax cuts for SUV's, the story is about raising the limit for business equipment deductions for small businesses from $25,000 to $75,000. The ridiculous example you link to makes one think that anyone who owns a small business will immediately go out and buy an SUV becuase of this tax change. It's an inconvenient truth that the deduction could be used for computer equipment, furnishing or whatever the business owner wants. You're just another whiner who still hasn't gotten over the 2000 Presidential election.

Finally someone saying what I have been saying for 3 months...WHERE IS PRESIDENT BUSH???? Everyone else notices the strain that oil prices are having on consumers...he remains passive and silent. After the first 4 years of his administration, I was pretty pleased in how he lead our country through some very difficult times...but his absence of leadership is even more evident in the past 4 years as it was in present in the first 4.

The left wing greens have successfully prevented off shore exploration of oil and natural gas. The government prevents oil from being elastic in the USA. At $130 a barrel the oil companies would all be 15 miles off shore exploring just as Brazil has done. The Brazilians will be non importers of oil within a few years because of there recent off shore discoveries. Utah has more fuel in their tar sands than Alberta does but it is off limits just as Alaska is because of ferderal law.

Yes it is easy to blame the current administration for the short comings of all the past administrations of the last fifty years. Look at what Enron did to the state of California and the rouge energy trading causing the electricity prices to skyrocket . This is what is happening to the whole country now as a result of the rouge traders in the oil markets if not Al Quedia itself hitting all of us where it hurts.

Pretty good analysis. Congress should get most of the blame. If I am not mistaken, they legislate the bills that set energy policy. Do we drill in Anwar? Do we promote research to develop clean burnig coal? Do we promote the decelopment of nuclear power(like France)?

All I know is that I am mad as hell and I am not going to take this anymore!

The Bush administration has been pushing for more drilling in Alaska and the Gulf since 2000; along with more Nuclear power plants. We have plenty of resources in this country. The US also spends more money than any other country in trying to find alternatives to gasoline. Unfortunately we haven't found one yet and realistically its going to be a long time until we do...If we drill more now, build more Nuclear plant and clean coal plants, that will help us to bridge the gap. Actually Bill Clinton's administration dropped the ball, they had an opportunity to drill in Alaska, he said it would take 10 years to get on line and our prices where low....well here we are 10 years later.....

Look into peak oil it will explain alot. Crude awakening is a documentary on this.

Aaron, What cheap shots you take at the Bush administration. You couldn't even find the time to research for something substantive. You'll probably have to lookup the definition of substantive. Your link about "discouraged conservation" is not to a news story but some silly ramblings of someone at Salon.com. It is a parody, not news. Obviusly, you can't tell the difference. As far as tax cuts for SUV's, the story is about raising the limit for business equipment deductions for small businesses from $25,000 to $75,000. The ridiculous example you link to makes one think that anyone who owns a small business will immediately go out and buy an SUV becuase of this tax change. It's an inconvenient truth that the deduction could be used for computer equipment, furnishing or whatever the business owner wants. You're just another whiner who still hasn't gotten over the 2000 Presidential election.

The Bush administration has been pushing for more drilling in Alaska and the Gulf since 2000; along with more Nuclear power plants. We have plenty of resources in this country. The US also spends more money than any other country in trying to find alternatives to gasoline. Unfortunately we haven't found one yet and realistically its going to be a long time until we do...If we drill more now, build more Nuclear plant and clean coal plants, that will help us to bridge the gap.

The only thing that ALL of them do is talk about it!!! They never do anything just talk. You know that the government can do alot more about this then what they are doing as an example, look at Mexico. You can go there right now and buy Diesel if you are a commercial vehicle for around $2.00 per gallon when us americans are paying an average of $4.50+ Its pretty simple, Bush and all his rich oil guys are making BIG $$$$ as we all suffer and NO ONE from our government cares. Alot of trucking companies are going out of business because of this. Trust me, we have not hit the bottom with any of this yet. You will be seeing the prices of almost everything go up more especially because everyone will have to make of for the fuel surcharges they are getting hit with. Something that is very interesting is that the supply drops everyweek even though there are less people driving because of the cost especially truck drivers BUT the supplies keep dropping. It is a lie just to make the price jump up more plain and simple!

No, blame yourself first. Why do I need a SUV that use 20 mil/gal or less. Why do I have to travel long distance every other long weekends? Why do I have to live in a 3000 sq ft house with front and back lawn? You screw up, and now blame it on someone else? OPEC has no reason to listen to your demand, if you want them to listen, stop using so much oil. If the congress is serous about the "oil crisis", they bump the gas tax up. In the next 10 years, gas tax increase by 10% a year, up to 100% gas tax. You would see sea change in consumption habit, and technology innovation. Right now, peoples are procrasicnating because they think oil price will be lower soon. If the government is analogy to parent, US congressmen and women are the worst type of parents.

When the total compensation of one oil co. executive last year was $400,000,000 and one that just retired with a package of over $200,000,000 - when the oil co.'s have had the 27% depletion allowance for over half a century and they are not drilling - and you have a congress that is either afraid to challenge Bush/Cheney, or asleep, or has inquired why there haven't been more refineries built, is it any wonder that gas is approaching $4.00 a Gallon?!!! What a mess!!!