Greetings EEVBees:
--When you consider the high price of gasoline, please also consider the following factors"
1) Drilling bans; The NIMBY phenomenon increases the price of oil by limiting the supply. In the Gulf the US is not sinking new wells, but this has not stopped every one else from drilling for the same oil. In other area of the US oil is just not being drilled, period. The Alaska Oil Pipeline was going to kill millions of Caribou. There have been small leaks, and other environmental damage from the pipeline, yes. But the level of damage has been about 6 orders of magnitude less that predicted by the Environmental Lobby.
2)Government regulations; Some of which are reasonable, but others amount to over-regulation by Anti-Capitalists and Eco-zealots. Environmental activists are trying to stop the extension of of a pipeline to carry Canadian tar sands oil. Apparently they think if they can stop it, the Canadians will just keep the oil, rather than sell it elsewhere. Also in the US the Eco-Zealots have managed to stop the clean and efficient diesel engine (the same one being used in Europe) from being used in stead of gasoline engines.
--3) Corporate taxes; Corporate taxes are double taxation. First the Corporation pays a (in the US 35%) tax on profits, then the shareholders pay income taxes on the same profits. Then the consumer pays higher prices at the pump.
4) At the pump taxes; At the pump taxes vary wildly. In the US the city of Chicago charges about 75 cents more than any place else. These taxes have a direct effect on the cost of doing business and employing people. In most of Europe these taxes run between 4 and 7 dollars US per US gallon.
--Many people justify all the above by saying Oil Companies are evil and greedy. The same people think Insurance Companies are evil. As a matter of fact, it would be less work to make a list of the businesses these folks do not consider evil than the ones they do. Apparently they feel that no level of taxation, short of outright confiscation, is enough.
--You are certainly free to grumble about the Oil Companies when you have to pony up at the pump. Just remember to include the Government while you are at it.
--There is a general rule of thumb regarding commodities that are taken from the earth. That rules is; That if the base price of the commodity doubles, then 10 time as many deposits will become profitable to exploit. Also there may be
more oil than you think, it may not all be of biogenic origin. Check out Gold's hypothesis. See link below.
http://en.wikipedia.org/wiki/Abiogenic_petroleum_origin--Does anyone have a guess as to how long it will be before the US EPA and the UN IPCC declare the global warming gas "Water Vapor" to be an anthropogenic pollutant in need of regulation.
Best Regards
Clear Ether