High prices have induced the big energy companies to invest billions into natural gas, a less-polluting, hydrogen-based economy.

Let's stop blaming Exxon and the big oil companies. They are not the cause of the problem - their profits are at the same percentage as when gasoline was 29 cents a gallon. Oil producing countries and Big Oil are hardly responsible for the runup in oil prices - speculation is the major cause. The falling dollar as well has added to increased costs.

Although China and India are big users of energy, at the moment supplies are well above demand so Saudi Arabia's announcement that they will increase production to 10 million barrels a day will do very little to dampen prices at the pump. All that will happen is that oil refiners will simply store that increased supply which they anticipate they will simply sell later at an even higher price.

But all this will be for the good anyway. For example, many oil producers are using the extra money to buy into businesses to replace oil when it finally runs out; in fact, very high prices may in fact bring about replacement energy much sooner than expected.

Oil at 20 or 30 dollars a barrel would keep us in perpetual slavery to Arabia. If it should actually reach 450 a barrel Democrats just might finally vote to allow drilling - even in the middle of Yosemite Park or even to remove impediments to building new refineries such as ensuring that the new plant will not hurt an endangered lizard.

Meanwhile Iran has spent and is spending billions on its nuclear program so it can destroy America and Israel instead of building refinery capacity. The result: bad Karma. Iran, the fourth largest oil producer in the world, has to import gasoline to the tune of $7 billion. Yeah, you read that right. With billions of oil barrels it has to import gasoline because the government was too stupid to build refineries. What other country is so stupid to have tons of oil and yet not enough refinery capacity?

Iran could get help from foreign investment if it wasn't so repulsive to business.

By the way, some of my readers may wonder, with all that Arab hostility against her, Where Does Israel Get Oil?

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Conservative HQ, Liberalism has caused our energy crisis

We can make this a “teaching moment” by helping America and the world see the effect that liberal policies have on people’s lives. By making energy more expensive, liberal policies make people poorer. By keeping us energy-dependent on foreign governments, including repressive regimes such as those in Saudi Arabia and Venezuela, liberal policies make the world a more dangerous place. By making energy more expensive and preventing use of domestic energy resources, liberals are causing the loss of American jobs. And by bottling up domestic energy resources through regulation, liberals encourage OPEC and other foreign oil sources to keep their prices inflated.