- $70/barrel of oil is due to supply and demand.

- $10/ barrel of oil is due to the falling dollar.

- the rest is pure speculation (Wall Street manipulation). The real cost of a gal of gas is about $2.30 ish.

Now that Big Oil has a foothold in Iraq and the presidential election is just around the corner, it’s not surprising that fuel prices are falling.

I’m a big advocate of closing the “Enron Loophole”.

Opening Up the Strategic Reserve
Since the United States uses about 20 million barrels A DAY a 50 million dump, assuming that’s all, from these reserves would have a very limited impact. Other than maybe a feel good benefit to those who aren’t aware of the amounts involved. I guess you could say it’s better than doing nothing.
Fully Closing The “Enron Loophole:
I’m not sure of the full benefits of this one but from what I’ve heard and read I like the idea. I actually saw a figure somewhere that speculators may add a total cost of $2.00 per gallon to the price of gasoline at the pump.
Providing A Gas Tax Holiday To Ease The Burden At The Pump
This one brought a groan from me when I saw it in the paper this morning. It’s just as dumb and pandering as when crazy John McCain brought it up and a desperate Hillary tried to steal it. As soon as these taxes were removed the price of the gasoline will rise to fill the void, and then what will they do? The gas taxes provide road and infrastructure repair and construction. For a state that’s already as cash strapped as Kentucky now where will this highway and road money come from?
Also once these taxes were taken out can you imagine the screaming and gnashing of teeth when a desperate state government tries to reinstate them?
Protecting Consumers
Again not much benefit. There obviously needs to be(and already is) safeguards in place. If you’re going to go after price gouging take a look at the oil companies themselves and not just the gas stations. When one oil company has profits of $35 billion dollars- just ONE company. Then you need to wander why gas prices must be $4gal and why we can’t also discuss a windfall profits tax? Maybe even returning it to beaten-down consumers as another “stimulus” check.
In a related note-I’m in a strange perspective where I’m being KILLED by gas prices. I have to drive 30 miles round-trip to work every day, but I also actually believe that there are a few pluses to high prices; More conservation, more mass transit, better fuel economy etc. I won’t discuss this now but I did want to mention it.

This one I like also. With people desperate for help and relief the oil companies and the Republicans(and a few Democrats) are trying to open up places like ANWR and even more offshore sites for the oil companies to exploit for a benefit that won’t even be felt till years in the future. The oil companies are already sitting on vast areas of leased lands right now.
Tapping Into Oil Shale Supply
I’m not a big advocate of this. Maybe as a stop-gap till a sustainable energy plan can be developed and maintained for America.
Promoting Kentucky Clean Coal As A Vital Part Of America’s Energy Plan
Once again not a big fan, especially the coal to gas idea. It’s got BIG money behind it but it will be far worse on the environment than what we currently have.
Moving Towards Alternative And Renewable Energies
This one is a big winner especially in the long run, which is what we should be aiming at, along with low(er) gas prices. It’s where a BIG chunk of public monies should be invested in because it’s where our children and their children will be living with the consequences.

All right, that’s my quick(as possible) take on Bruce’s ideas.