Some interesting reads
http://www.reuters.com/article/newsO...BrandChannel=0

http://www.oilwatchdog.org/articles/?storyId=10881

Allowing more drilling would take up to 5 years to get more oil to the market and if were still 100% dependant on oil in 5 years we are in TROUBLE

Exxon has went from almost 3 billion in profit the 1st quarter of 2002 to over 11 billion in profit the first quarter of 2008 while demand has not increased nearly that much..

Some experts predict that oil speculators have jacked the price of oil up as much as 50.00 a barrel

There is more than enough oil being drilled without offshore and Alaska(part of which Clinton opened and it didn't produce near the oil they predicted)..

I don't think they should tax the companies profits but I also dont think they should be getting over a billion dollars a year in tax breaks anymore either. They were supposed to use the money to explore alternatives but instead used it to buy back their stock..

When the oil bubble bursts(and it will) the fallout will be worse then the housing crisis since a lot of the speculators investing are pensions funds which will lose big time. Instead of demanding drilling or more taxes(or worse begging saudi arabia to drill more) maybe they should work together and look into the speculators and what damage they are doing to the oil business.

FOR THE RECORD I don't blame bush for this (maybe **** Cheney a bit) but he gave them tax cuts with good intentions and they used if for what they wanted. You have investment groups putting money in oil futures then coming out and predicting 200.00 a barrel and who makes out on that(oh yea they people who predicted after investing)