The Saudis are right about the negative impact of higher oil prices, and the Iranian gains. I'm sure the Saudis (and others) are quite happy with prices where they are or even lower. They've already got a ton of money that they don't know what to do with….

I also fear that Neocon is right about heading into a depression…. I'm not sure we'll get there, but I'm very pessimistic on the future, primarily because of high energy costs… I view it like flying on an airplane… you're flying fine, then you hit some mild turbulence, and at one point the plane hits a pocket of rough air and the plane drops unexpectedly…. Everyone on board is already on edge because of the turbulence, but the drop makes everyone on board really scares everyone… RIght now we're in the turbulence. This winter I think our economy will hit that drop and while most people will live, overall we will have lost a lot and some folks just won't survive… I'm not just referring to people unable to pay their energy bills, but of companies cutting jobs, and the higher prices of pretty much everything.

As for oil shale, the west is in deep drought already and water rights already very contentious. I doubt any “technical” recovery of challenging oil deposits is going to happen any time soon, especially those with big water demands

Our cheapest new energy is conservation, the very thing OPEC fears. Next is electricity. Charging an electric car or plug-in hybrid equates to about $0.75 per gallon. Point sources of pollution, like utilities, are easier to clean up. Plus, solar is perfect for charging your car while you're at work.

U.S. Geological Survey – 1980. In 1980, the U.S. Geological Survey estimated the Coastal Plain could contain up to 17 billion barrels of oil and 34 trillion cubic feet of natural gas.

If oil companies tapped the 68 million federal acres of leased land it would generate an estimated 4.8 million barrels of oil a day – six times what the Arctic National Wildlife Refuge would produce at its peak, Pelosi said.

17 billion bbls of oil in the outer reaches.

“The fact is 80 percent of the oil available on the Outer Continental Shelf is in regions that are already open to leasing, but the oil companies haven't decided it's worth their time to drill there,” the speaker said.

But lets assume that Pelosi is right. Perhaps the oil industry really does not want to drill this oil then how do we make them? How do we really increase oil production. While opposed to it in principal perhaps its time to nationalize our oil companies. They are a threat to our national security and economic viability if Pelosi is right.

The reason we do not develop oil shell is because its expensive and uses tons of water. Perhaps a pipeline from the ocean to colorado is in order.

If we do not get this right the world is going to slip into a depression. This is serious and it has nothing to do with the war in Iraq.

“Always,” the same belief some hold about taxes.

People are going to have to get off this high horse and let the drilling begin IN conjunction with other programs to reduce the World, just not America but the worlds need for oil.

The Saudis see the handwritting on the wall. The world cannot stand this huge oil prices for long and in the long run it will force the world to do something about it which will affect their bottom line.