"What's Behind Rising Gas Prices?" It's still the boogie monster.

Mr. Yergin in his WSJ opnion article wants us to believe that the boogie monster is the main reason we're paying $4.50/gallon gasoline. He's spent way too much time in Washington hanging around with his buddy Energy Secretary Chu.  In his own article, he answers the question in one paragraph.  The U.S. produces 20% more oil than in did in 2008, with huge new flows from friendly Canada, North Dakota and other states.  However, these flows "are hobbled by an outdated pipeline system"  and "there's not much Washington can do in the short term to reduce prices at the pump."  Really? They've been saying that for years, so what was the long-term is now the short-term.

If Washington really had a clue and wanted to reduce the price of oil, and wanted to influence the price at the pump, in the short term, just say something to that effect.  The markets will react and quickly. They're not expecting this President to say anything like that, so it will be a surprise. It's an election year, so anything is possible. 

http://online.wsj.com/article/SB10001424052702304459804577281580476174366.html?grcc=1f8bf0608996f22e321017abda7324f9Z3&mod=WSJ_hps_sections_opinion