It wasn't as necessary 8 years ago becasue oil was as low as $20-$30; in fact in the late '90's it was $11. The dynamic that has changed is the election of ultra-liberal environmental whackos into congress in the last 2 years, and the read by the world markets is that this group will contain domestic production and undermine supply. The traders and speculators are well aware of this: when you take supply off the market, prices are going to rise. Thus it is precisely the control of congress by these liberals that is causing the increase. You even have a VAST majority of Americans who want more domestic production but the liberals won't bend even though those most affected (the lower income group) are hurting. For the lib's it is all about politics, not the people, and this is a shining example.

Fortunately the prices have gotten so high that the outcry is perhaps loud enough that it might force some action, and thus the traders and speculators are taking some profits now in case we really do decide to increase domestic production which really will have a dramatic downard effect on prices, particularly when momentum kicks in.

If the republicans were in control of congress today, we would not have a 5 week congressional recess right in the middle of an energy crisis ----- and that is going to backfire BIG-TIME on Pelosi, Reid, Obama and all the other lib's in November.