What should be done about the price of oil, short term and long term?

I think we can almost all agree that the cost of gas is outrageous, but what to do about it seems to cause some debate. So what should be done in the short term and long term to help with this? How should it be done? Who should be in charge of it?What should be done about the price of oil, short term and long term?
Short-term: close the foreign exchange loophole that allows unaudited commodity trades to occur and make sure the CFTC is staffed and funded along with the SEC.





Long-term: develop alternative fuels like bio-diesel and ethanol from switchgrass, clean-coal technology, and increase alternative energy write-offs at the commercial and private levels to make electric energy an affordable alternative to heating oil.





CAFE standards have been raised, but you might look at moving up the time-table on that one.





There should be a serious effort to address both fossil fuel dependency and anthropogenic climate change that is akin to the Apollo program to put a man on the moon for the mid-term.What should be done about the price of oil, short term and long term?
There are many things we can do. First get Bush out of the white house... and everything else will fall in place.





Don't expect oil to fall. You have insurance in case you die?


insurance for your car, home...? Then just buy some oil ETF's


For example, if oil goes to 200, and you invest just $2k. The difference you'll profit will offset the increase in gas and food. I started doing this at Bush's inaguration. I turned $4500 into almost $30k in seven years and I'm still long. But, I will be buying some short term puts to insure the short-term downside.





All you have to do is travel anywhere wheter it be abroad or domestic to see the increase in demand for oil. As the world becomes smaller and emerging markets grow, so will the demand for oil. Moreover, we in America are just spoiled and wasteful and will suffer because of it. Just hop on any interstate east of the Mississippi and you'll see people doing 80-90mph. Yet, they complain when they pull up to the gas pump. Want to save gas and affect demand... Slow TF down, conserve, recycle, and don't waste.
The department of agriculture could build methane collection systems on all large city sewage processing systems. The methane collected could be turned into methanol, and sold into the market by the government, that could use the income to balance its budget instead of raising taxes. This will not be a waste, because methane collection will pprvent it from being released into the atmosphere, and can also be used for other things once autos don't rely on fossil fuels, so it can still be sold after Middle East Oil is nothing but a memory.


this create these benefits:


1) reclamation of greenhouse gases


2) increase government revenue without taxation


This makes everyone happy.





This can be the system used to keep gas prices low, until the Next Generation Nulcear Plants are perfected and ready to power our homes, and make our hydrogen fuel for us.





Drilling our own oil isn't going to do a thing, since it will still be sold on the world market, where OPEC wil be all too happy to cut production. That would only work, if we already had an isolationist approach to oil industries.
Wannahug nailed this one, I would only add that they need to ban the exporting of our oil overseas immediately. We are the fifth largest oil exporter in the world. The oil companies export the oil to get a better price for it overseas, and to keep it in short supply here at home , thereby keeping the price at the pump high.
The price is outrageous because the demand exceeds the supply. If the US began supplying its own oil, or if we began to use the resourse more judiciously, the price would come down. In spite of $4.00 gasoline, I still saw Hemis hauling large boats this past holiday. As long as the mentality is ';screw the Arabs, I'm gonna have my fun';, the price of gasoline will continue to rise.
We cant make emerging powers stop using it so there goes that idea. We should have drilled our own and still can- we can get fuel from coal easily as well


Short/medium= drill all our resources and use coal,


medium/long= nuclear and invest in true renewable sources of energy rather than politically driven solutions like ethanol which is neither efficient or effective
Drill, Drill, Drill and build refineries.


Cut off all taxes for the short term, state federal, local and county.
DRILL!
If we don't drill for oil now, were gonna have another great depression, this is ridiculous and stupid Thanks tree huggin Dem's !!!!!!!!!!!!!
Take over Iraq, Saudi Arabia, and Afghanistan. That is the only real answer or find an alternate energy source