The Price of Gas

The price of gasoline has spiked about 20 cents in the last couple of weeks–not because of turmoil and uncertainty in the Middle East, but because demand has remained strong even while some U.S. refineries have gone off line. In other words, it's a supply and demand problem. What you don't hear much is that we have not built a new refinery in decades, when population and oil usage were much lower.

So don't blame Bush the next time it costs you $30 or $40 to fill 'er up. Blame U.S. environmental policy and zealots like Al Gore, who want to sock it to the rest of us in an absolutist pursuit of a pristine environment–one in which people definitely come last.