Why does the American Goverment allow oil prices to continue to climb?

Bushco.

Oil prices are climbing because of a higher demand. Not because the big bad oil companies are gouging us. Considering the United States has not built a refinery in 30 years, and global demand for the product to booming economies like China and India are at an all time high, price is naturally going to climb. It's the old supply and demand. If you really want to get oil prices to go down, tell your congressman that you're sick and tired of being overtaxed on a gallon of gas. If there were no taxes on gas, a gallon would cost less than 50 cents. Obviously there will always be taxes, so consider even half of the taxes we pay now. Gas would be about a $1.50. So if anyone's doing the gouging, it would be the idiots in our government. If you want to lower oil prices without cutting taxes, since that's almost impossible, let's start drilling for oil in Alaska. There are plenty of safe ways to get to it without harming the environment but the environmental wackos are getting in the way and preventing it. And as far as driving cars that consume 30% more than everyone elses. That's what the market is demanding. If the market demands cars that are much smaller, it will provide them. It's called free enterprise. Car companies are producing vehicles that consume more fuel because that's what people are buying. It doesn't make much sense for them to make a product nobody would buy, does it? They'd go out of business. That's the beauty of free enterprise. When people start demanding it, the market will provide.

Your believe in capitalism is misplaced. The reason why the American Government has allowed oil prices to climb is simple.

At the moment all the oil producing countries have to maintain a stockpile of dollars in order to trade. This, in effect, gives the USA a massive interest free loan with which the American government can fund a huge military industrial complex and give some, but only some, of their citizens the benefits of a cheap fuel economy.

Iraq was invaded because Saddam wanted to trade oil in Euros, not dollars. The real reason why Iran is now under threat of invasion is that the Iranians have also expressed an interest in changing from trading in petrodollars to trading in Euros.

"Big Business", as you call capitalism, knows no boundaries and is not patriotic - money rules and they don't care who they harm or what they destroy in the struggle to accrue it.

Oil prices continue to climb because our president and several in congress on BOTH sides have friends in the oil industry. Once again, the rich get richer off the backs of the poor. I am not a socialist nor a communist, but I do believe in the American worker and feel that we should be more protected from predatory companies, better educated to perform our jobs, and better supported so we can keep jobs without them going overseas. I don't like free trade agreement nor do I like special interests, such as big oil, who run around giving out money for campaign contributions like it was candy. The only way this will change is to drastically reform campaign finance, limit congressional terms, and make it affordable for the every day American to run for political office instead of the wealthy and powerful elite.

Big Oil has got a pretty sweet lobbey with the government. Condi Rice used to sit on the board of directors at Chevron.

the oil companies have had record profits, i don't know the numbers but it's insane the way they pinch customers at the pump while banking enough money to equal the GDP of another country.

gas prices are more sensitive to OPEC and events in the middle east and inflation than they are to government regulation.

maybe we can figure out how to be less dependant on oil for energy, drive less, harness wind water and solar power.

Wake up. Oil companies make 6-7 cents profit on a gallon of oil. As any good business does, they diversify their interests. They are making their profits in other markets. If you want to blame someone blame your local township who taxes your gasoline. Oh, and blame China, Japan, and Korea for high oil usage which drives up our price.

Price caps always have and always will fail. History has shown them to always fail.

Oil companies make about .06 per gallon of gas sold. The government makes about .80........so who should you eally be yelling at?

You want to reduce the cost of gasoline? Then allow more refineries to be built, scale back all local, state, city, county regulations, and allow domestic crude digging. Those three things will reduce the cost of gasoline in the USA.

Remember, oil companies make vasoline, plastics, rubbers, tires, crayons, medical supplies, etc. Most of the profits they are posting come from non-fuel products, like plastics etc. Populist rhetoric plays to emotions rther than data. Expose yourself to more data.

I agree. About the only thing "good" I can see in it is that it's making people think about alternative fuels - other than that, it really sux.

Maybe so, "Brad", but alt fuels will be a stepping stone to energy independence (if we ever get that) - it won't happen in one magical moment.

The oil compaines secretly don't really care. They are just here for the money. They make millions or billions everyday and they don't do a thing to try and lower the prices, the just keep hiking them up to make more money.

If the didn't have money then they would die. They are becoming money starved over and over.

Because of two reasons:

1. We have say we have free enterprise

2. the oil companies are paying the government not to

edit: Gemini, the oil companies will still make tons of money off of alternative fuels because they own a huge chunk of that industry. I guess you call that a saftey net.

This is what you get when you have a president and V-president who are both oil men. Simple truth....they are going to do what it takes to make money....and they don't care what the cost is(lives and burdens on the taxpayer). Why does it surprise you?