I work in the oil and gas indrustry,the word were hearing from our end of it,oil will hit $200.00 dollars bbl.gas will be in the $10.00 range,really a bad deal for this country right now,it will turn us upside down and inside out,and our Goverment will still just sit on there hands,we dont need different sources of energy,we need different goverment on both sides of the iles.

You all are missing the point. The terrorists that can't beat us with their military have openly said that they will crush us through the crashing of our economy. Seems like that is the direction we are going and its sad that both sides of the government are just sitting back and letting it happen while they fill their own greedy pockets. It will get to a point where we all will be fishing from the bank. There will be no more catch and release because that bass will be needed to feed your family. Bush will go down in history as the worst president this country has ever seen and one of the richest. Mrs Bush is ove rin some country trying to send a billion dollars in aid. Just think what a billion dollars in this country could help to do. Lets start taking care of our own and let the rest of the world worry about themselves or we will be outside looking in.

So what will happen when oil gets to $200 per barrel and nobody can afford it. Will it continue to rise? How long can prices continue to rise while demand steadily falls before there is a market correction? That is the real question.

We have long wondered what the choking point is for America to reduce it's use of oil and I think that we have hit it. I night fish and use 10% of the gas I used to, Roger t is pulling his jonboat with his wife's Honda. People are driving more fuel efficient cars to work. Every month this country is using less and less petroleum in this country. Even people who have doubted that this is a bubble are starting to realize that this is getting rediculous. Because of oil prices many developing countries are letting their subsidies of gasoline expire and gas is no longer going to be dirt cheap in those countries.

Wow this is quite an interesting discussion. I cannot remember who but someone above definitly hit on a significant point. For many years the the US has held (and quite frankly dominated) the world as the leading consumer of petrol products (across the board) not just fuel.

In addition, for years various think tank groups have predicted this "scenario" which is occuring today and subsequently, many companies have tried to produce "alternative" vehicles only to find themselves being sued in court for their patents by the likes of Ford, GM, Chrysler, and Toyota. The big 3 specifically have owned the patents to the so called "hybrid" vehicle for 2 decades nopw, and it was only after Honda really began to experiment, and Toyota enticed several of Fords engineers that these even came to the markets attention. While the automotive giants cannot control the gas prices directly; they can certainly do so indirectly.

The second (and far more relevant problem) we have incurred was again "created" by us. Since the 70's big corporations have been "outsourcing" what many consider menial work to Asia and India which has been boosting their economy in an amazing way. In fact, all this "menial" work has swung the pendulum so far in the other direction that these countries now are the largest consumers of petroleum! All this outsourcing has allowed the people who who once rode bicycles to be able to afford cars. Now, we sit here in America with a look of disbelief as we "rattle our sabers" at the oil producing countries who once needed us, and they respond by raising the prices. These nations no longer view us with the same fear that we once had about boycotting...as for them, the future lies with the countries that have an even greater and somewhat insatiable need for petroleum.

As to those who feel our governement should do something...they will and have. Iraq was the first stage...and a tactical one at that as it created and staged a US Military presence in the middle east. Stage 2 is coming however, In my opinion I beleive it will take a bit longer yet...when the burden of gasoline cripples the way we live our lives everyday...the average American family will agree with whatever action is necessary to ensure that gas is attainable. What I find most ironic is that the majority of oil we have been drilling, pumping, and refining in America has been exported now for years...so our goverment has really been double dipping on us for years as well. Is the day coming (and probably very soon) where there is a heafty "luxury tax" on (our boats) and other petroleum consuming "non primary transportation" vehicles...you bet; as this will be an effort to help control the use of fuel by levying a tax so heavy that all but the wealthiest of people will not be able to afford it.

Can my family and I cut back? Yep, Can we stock up on goods and ammo? Already have. Is the day coming when gas becomes too expensive for those who already steal and car jack just to get drugs or for fun? Yep...What then??? Will they shoot my friend or family member just for the remaining 5 gallons of fuel in their Kia Rio? Sadly, this is not doom and gloom...because it is real...right now, and right here today, just watch the news one night.

We may not see it...but what about my daughters, your sons, and there kids?

I for one have faith in free enterprise, just as BigPoppa does. Alternative energy sources will now become economically viable. It will take a while, no doubt, and it may be painful in the short-term, but we will all be better off in the long run. Everyone can take immediate steps to mitigate his/her own personal situation to reduce the impact of this. It cannot be totally eliminated if you buy anything from food to clothes, but it can be minimized. How? Drive smart and drive less. Move closer to work, slow down, get a more fuel efficient car, better yet, ride your bicycle to the store and to work (we could all use the exercise anyway), install a wind power generator or a photovoltaic generator, etc. All of these things will become more and more the norm as we move forward. Driving a boat at 70+MPH will become a thing of the past for most people.

The biggest problem is the speculators who are hedging the falling American dollar against the price of oil. The government should require a 50% down payment on contracts that anyone buys and require that they take delivery of at least 25% of the actual product. Currently, I believe the down payment is either 10% or 16% with no required delivery. This would curtail the number of speculators trying to make money on a staple.

You make a number of EXCELLENT points! Worldwide energy demand is definitely a factor but not so big a factor as our own STUPIDITY!

The MAIN thing we need is an ENERGY POLICY which would allow us to do what we already know how to do and are not doing.

We need use nuclear power to generate the vast majority of our electricity instead of burning hydrocarbons to do that.

We need to quit fooling around with things that require high energy inputs for little return (using food sources to produce energy is a political boondoggle of the first order) and start working on things like shale oil and coal liquification development.

We need to drill for and refine our own oil.

If we did those things our energy problems would end very quickly!

I would love to see the government release about half of the strategic petroleum reserve all at once.
The speculators would be spanked severely!

Voila!
At last!
I had to read every post here to find the first rational thought.
I consider a rational thought as being fact generated. Slogging through all the blame game was tedious to the point that I seriously considered moving on. Then up jumped the voice of reason.
Bigun12 submits for your consideration solutions based on facts. I realize that consideration of fact over emotion is a scary concept to you of liberal bent but be very scared because the seed has been planted by people like Bigun12 and nothing can stop it from growing. Your emotional reactions will be crushed by the weight of fact. Even your "Golden Goose" scam of "Global Warming" will peter out. It's already been factually debunked.
I thank God for Bigun12 and the ever increasing numbers of level heads who are raising their voices against mass "Stupidity"
There, I've vented. I'm gonna close my eyes and go fishing for a few minutes.
Waiting for the weekend;
J.B.