Gas and oil prices?

I know that this question has been asked before but can anyone tell me what if anything the goverment or oil companies are doing to ease the price of gas? I know President Bush asked OPEC to raise production and they refused. He also has mentioned having a tax holiday but that would only drop prices down like 17 cents. i was hoping to get some intellegent answers from people who know. Thanks!Gas and oil prices?
I found this on http://www.gravmag.com/oil3.html#setpric鈥?/a>





Everything you ever wanted to know about oil.





Q: Who sets oil prices? Can't we make the oil companies lower prices?


A: Oil companies today have virtually nothing to do with oil prices. In the 1950s and 1960s, they may have, when they had most of the control over both domestic and foreign production -- they owned the oil. With nationalization, oil-producing countries came to have more control, especially OPEC. In the 1970s and 1980s, OPEC (and mostly, Saudi Arabia) could control prices by controlling supply. Increase supply, price goes down. Decrease supply, price goes up. Today, to obtain the oil they need to refine, oil companies must purchase the majority of what they use -- at market prices.


From the 1990s to the present, even OPEC has very little control over prices because there is very little (some say none) excess production capacity anywhere in the world, including Saudi Arabia. Supply cannot be affected, so the price depends on demand. In the long run (months), the price is entirely controlled by the people who consume oil - for the most part that means American drivers.





In the short run, on a daily basis, the price is set by buyers, including market speculators, whose gut reaction to geopolitical, weather, and other impacts on the global market result in their ';bets'; that supply and demand a month or so out will be such-and-such, and that therefore the price they are willing to pay is this-and-that. There are only three significant oil-trading exchanges in the world: the New York Mercantile Exchange, a similar one in London, and a new smaller one in Dubai. A comment on this topic by Ralph Nader 鈥?EIA graphic relating oil price to 74 geopolitical events since 1970





Oil traders are human, and their reasons for being willing to buy oil contracts at any particular price range from scientific to emotional to downright illogical. For example, as the price neared $100 but fluctuated, when prices were as low as $94 or $95, many traders bought at those prices, seeing them as bargains in the face of (likely) impending prices at or over $100. Such buying then drives the price up, almost like a self-fulfilling prophecy.Gas and oil prices?
Why would the ';government'; try to curb prices. The taxes that are coming in to local governments are terrific. In the great state of Illinois the idiot governor said that over 225 million extra will come in for them to waste and spend on stupid projects. High prices are here to stay. Almost 80 cents a gallon is tax. local, regional, national, sales etc on every gallon.
Why aren;t the American People being told about the Bakken Oil Formation. We have more recoverable oil right here in States than OPEC. Do some study about this and get the word around.
gas is gonna go higher the oil companys are getting greedy and people are going without food for gas