Long on America

IEA's Oil Market Outlook: Off the Mark

Market speculators eventually have to meet with the law of supply and demand. High prices have to be balanced in the future by lower prices if the demand is not sufficient.
We should RAISE the price of gasoline and before that equally lower income tax so that Joe Average American will break even up and the higher price at the pump will lower demand.
Picture a $2000 1040 rebate followed by a $2.00 per gal federal use tax after the rebate. Give Joe Average American the money upfront by lowering the burden of his income tax then let him choose to buy gas for a Hummer or a Ford Focus - we'll see...