Passages, you have hit the nail on the head. The Europeans have not seen price increases at the pump, because the dollar is falling and the euro is rising. All the average J6P understands is that oil costs $110 a barrel. He thinks the evil oil companies just raised the price because the can. What is really happening is oil is priced in dollars (at least for now), and the antics of the banks, wall street, and Bernanke have made investing in dollars so unattractive that we have capital flight and a falling dollar. The dollar to euro exchange is 1.59 dollars=1 euro. The dollar has lost 40% of its' value in the last few months. How much has oil gone up? There you have it.
If we had an energy policy (I think we should call this leadership) that focused on the best use of oil and other high density fuels for transportation, and use other fuels and energy sources for generating electricty we can better maintain our way of life.
The delusional tree huggers, have brought us to our knees and are the most hypocritical bunch who know the least about the topics which they proclaim so loudly. I was laughing my ass off when Kalifornia was have black outs. Gee, guess what happens when you don't let anybody build new power plants. Eventually you run out of capacity, Duh! The same goes for oil refineries. Who forced the end to developing Hydro power in the United States? Remember the snail darter? You want to talk about clean, renewable power? Ok, then how come we can't use it? They don't want wind power either, because it kills birds and is an eye sore. I am sure that they will treat tidal power the same. These people want us to live in the stone age. I am ready to introduce them to Darwin, personally.
We have not found any new "cheap to extract" oil, but plenty of oil exists. We need a coherent energy policy and a long range plan. The American people will respond to it if it makes sense.
We also need to make noise now about the dollar situation and the make the banksters eat their problems now, and put a bunch of them in jail to boot. Call, write, and visit you officials now. Every one of them has a home office within easy driving distance, if you can't go to Washington.