I have wanted higher fuel prices for decades, with the revenue funneled into non fossil fuel R&D and infrastructure.  If we had done this years ago we would not be in such a pickle now.  The oil companies would have fought this tooth and nail as bad for profits.  Now suddenly higher fuel prices are great, as long as they get to keep the money.  Oil is an industry that is supported and protected by my tax dollars, so no they don't have a right to rip me off with the product they supply.  It is not functioning as a free market, and they are not entitled to unlimited profit from a captive customer base.
slightly off topic but just saw this on the front page of our business paper in the uk.

http://www.thebusinessonline.com/Stories.aspx?General%20Motors%20in%20crisis%20as%20its%20car%20sale s%20plummet&StoryID=348B4CED-FEFC-49EA-8686-AB110C1F75F2&SectionID=F3B76EF0-7991-4389-B72E-D 07EB5AA1CEE

GENERAL Motors will this week reveal that sales collapsed in October, taking its US market share to a 25-year low and fuelling fresh fears that the world's largest carmaker is heading towards bankruptcy. Its US sales dropped 26% compared with the same month last year, according to early estimates, putting its monthly US market share at 20.5% - the lowest since at least 1980.

On a totally seperate note, I have been regularly typing in "peak oil" into google, when I started 3 months ago it was 1.7 million hits,it slowly whent up to 2.1million by last week. today its gone down to 1.7million is it a sunday thing? or something more sinister?

* On Saturday, GM signed a memorandum of understanding with Chinese carmaker SAIC to explore opportunities for energy efficient and environmentally friendly hybrid cars in China.