Call me a fool....or call me Ishmael. :>)

I don't think Congress has the cajones for a windfall tax on oil, contrary to the declared wishes of our most Socialistically inclined members. That could bite the Dems for future elections if Congress actually opens up new drilling sites, which I think is inevitable. If that happened, why would the oil companies invest in the new sites with the expectation that Congress would hammer them with more taxes? Like I mentioned before, big oil is quite satisfied with the status quo.

Although I have considerable disdain for the judgment of the American electorate in general, most will eventually wake up to the reality of situation and go with the best plan.......work like hell for alternative fuel sources and drill for new oil. Getting new oil on line would take quite a while. The US oil companies will be in no hurry.

Don't forget the effect of the speculators. I thing it's safe to assume that they've played a major part in the oil price spike. Although I detest adding to our existing supply of government regulations, maybe something should be done to mitigate the effect of speculation.....like increasing the margin rates, considerably.

How about this for government intervention? Let the US Treasury short the hell out of the oil market. We have plenty of money. If we run out, we could print more. :>):>)

There are no easy answers or solutions. Live with it. Currently, it's the only game in town.