Many people, including most of our national politicians, do not appear to undestand the law of supply and demand. (Well, maybe the politicians do understand, but the Democrats, at least, ignore it, and assume most people do not understand what they are doing.) Here is a good article about supply and demand, and how it affects oil prices. The Democrats are right about one thing that is pointed out in this article, and that is why the oil companies do not drill on leases they already own. The Democrats are correct that the oil companies will have to be forced to drill now. The president of Exxon Mobil received a $400 million bonus because he didn't explore, but rather sat and let the value of the oil in the ground go up. The Arabs have the same idea.

http://online.wsj.com/article/SB121486800837317581.html?mod=hps_us_at_glance_opinion