|Re: "to break the back of these Speculators that are destroying our nation."|
'Speculators' have little or nothing to do in the long-run with the market-clearing price.
DEMAND is steadily rising (global population growth and rising standards of living among the former 'Third World' nations...) while global production has plateaued in the last couple of years.
PLENTY more hydrocarbons still available in the world for utilization... but at a much higher price.
(The dollar's collapse has also impacted the cost of imported oil to the US more then, say, to Europe... as oil is priced in dollars [at least for now...] and the Euro has maintained it's value to a greater extent then the dollar has.)
If you back out the effect of the dollar's steady decline from the prices, then we are not really paying any more for oil now then we were during the early 'eighties.