I personally feel consumption IS the issue and believe the US government needs to intervene with GOOD programs.

1) reduce highway speeds back to the 55.
2) encourage through tax refunds homeowners replace their windows with energy efficient ones.
3) encourage through tax refunds homeowners replace their HVAC systems with energy efficient ones.
4) encourage through 25% tax refund over 5-years 25% of the value of a new vehicle purchase that at least gets 30mpg.

Plus… maybe it is high time production returns to the United States.

Figure that the cost to send some raw materials by ship to China. Manufacture the items in China for lower wages. Ship the finished goods to the United States.

If we brought it back where it belongs… we can replace approx 2 sea based transports to local trucks, trains, planes and barges.

One would think the savings right there would come close to the difference in wages paid.

I think Wayne John ought to blog in the “Conspiracy Corner’ not the Commodities Corner.

Oil is priced higher because of higher demand, increased threat to supply (yes, some of which due to war) but also see Nigeria, lack of capacity to refine products, and the re-valuation of this commodity. Crude oil can’t be grown like a grain crop. The realization that rising demand and a somewhat finite supply of oil is sinking in. Crude oil makes economies go round…