Please watch “The Energy Non-Crisis“. You can find it on Google Video, and probably on YouTube as well. Draw your own conclusions after you’ve seen it.
Regardless of who is really in control of oil, what’s clearly evident here is that our economy is suffering. If there really are such huge oil reserves in Alaska, we should start drawing upon them.
On a related note, I live near Washington, DC and have visited the World Bank. I’ve seen their headquarters, I know people who work for them, and I’m not so sure they’re the ones in control of oil prices, like he says. But that’s not as important as making sure our economy stays healthy, and right now, cheaper oil would help a lot.
Also, there’s the benefit (painful as it may be) of higher prices that can and will be seen in the future through more fuel-efficient cars and better housing. I’ve railed against the shoddy construction practices in the DC area (and seemingly throughout most of the US) for some time. Houses are built like matchboxes, with very little insulation or thought for long-term existence or impact on the environment. As utility prices rise and stay up, people will begin to see the advantage of solid, time-tested building techniques, with proper insulation and solar panels and the like. So I can’t say that higher oil prices are entirely bad.