Well, oil prices are over $120/bbl -- gas prices (at least here in Northern California) are inching up to $4/Gallon and people are screaming as if this is somehow surprising, and offering all kinds of (pandering) band-aids such as "gas-tax holidays". However, nobody is really viewing this as what it is - a structural issue that will not be resolved. Over 75% of all proved oil reserves are controlled by state oil companies that have little interest in maintaining the lifestyles of consuming nations' citizens. Rather, they are properly interested in obtaining the maximum possible income from their diminishing resources.

Therefore, instead of looking for short-term ways to ease the pain of high prices, we should be using these high prices as a way to bring to the market the competing energy sources and technologies that we will need to eventually moderate our demand for petroleum derivatives. However, I see little indication that the energy industry is actively seeking to move beyond petroleum - rather they are more interested in perpetuating our reliance on oil and squeezing the last bit of profit out of the resources they hold. In addition, the alternative energy market seems to have become more politically than practically oriented - thus we have the current food vs energy situation created by market giants such as ADM who are interested more in raising prices of grains than any real attempt to provide energy.

No, it's going to take more pain before we start to seriously do what is needed to develop a realistic energy economy. Higher prices will help, but only when higher prices create a political firestorm that breaks the hold the corporate interests have in the halls of power will true progress be made. And, unfortunately, I don't see that happening soon.

Keep checking back!