Originally Posted by maxxm
And also keep in mind that overall automobile sales in the United States (the world's largest auto market) actually declined by 2.5% in 2007. GM sales fell by 6%; Ford sales fell by 12%; and Chrysler lost 3%, all year to year over 2006. But oil company profits soared to world record heights during that same period of time. So let's see: fewer cars sold + more oil produced = much higher oil prices and oil profits. Now that's really classic economic logic, isn't it? 
Hey, Maxxm!
This whole oil business is so unwieldy & bizarre it's almost impossible to finger one thing or another as the REAL reason we're paying through our butts for gas. China & it's ever growing driving population, the futures markets & the traders who pump up the price of a barrel to line their pockets, Hugo & the boys in Venezuela who can charge whatever they want & then throw their money around to various countries & look golden in doing so not to mention the Saudis, the plastics industry/the packaging industries (I mean, have you guys seen the commercials for the individually wrapped prunes? Are they kidding?) all this crap cranks up the prices on the streets. Not enough refineries but yet no one wants one in their backyard. A stiff wind blows somewhere where oil is being processed & magically our prices rise by a dime. It's all insane but as long as dollars can be made none of this matters.
It's too bad our cars only account for a portion of oil consumption. As long as oil is a finite resource we're stuck paying whatever the man wants us to pay.