That's what those on the left really want--to get rid of gasoline, regardless of the cost, because their religion of global warming (what you believe in when you don't have the intelligence to believe in God) compels them to. And so we have a war on oil taking place in America by the left, and they have been winning easily. They have choked off the Alaska oil pipeline and the Obama administration has worked hard to limit the domestic production of oil on public lands. All of the increase has occurred on privately owned land, which is exploding in places like North Dakota.
And yet, leftist critics have decried the fact that prices have soared and are still high. They point out that the "price is set on the world market" and that there is little that we can do to affect the price of oil. They expect this to be the end of the argument. But it's not.
First of all, the increase we have seen in production has not been enough to meet the increase in demand worldwide. But as normal, leftists can't do math or understand economics. Supply has to increase to the point that the supply is enough higher to weaken the future value of the commodity. When leftists complain about "speculators" they are really talking about commodities traders who believe that with the current supply and demand, the market will bear the price of about $4 to $6 a gallon for gas in America, and appreciably higher in other nations.
So now for a question; if that is true for oil, then why doesn't shares of Apple cost $2,000? The answer to that is to be found in the fact that Apple is insulated from over-speculation by the fact that the shares have to be bought on an American stock exchange, and here the price of the stock is only worth $500 or so right now. And we should do the same thing for oil. In fact, we do this for almost every commodity you can imagine. And if we are smart, we can turn this to our advantage.
Japanese stocks have been depressed for decades, but because American companies have prospered during most of that time and because our stocks are generally isolated from any other specific nation's problems, out stock prices have generally done much better. We can do the same with oil by making the market buy and sell American oil products on American exchanges. This will work to isolate American produced oil from production from other nations.
The market will settle on a midpoint between the higher costs overseas and the value on the American market. At a minimum, the price of domestically produced oil should be lowered by the cost of transportation to and from foreign markets. And as American producers buy the American oil, increases in supply should lead to lower costs domestically.
In other oil producing nations, ways have been found to lower oil prices. We can do the same without disrupting the market if we are willing to be wise about it. But we can't do it under leftist leadership. It's against their religion.