I agree that all the money sloshing around in our economic system is contributing to price volatility. But I completely disagree with any notion of a vast conspiracy or some "puppet master" that is pulling strings to consciously run up prices. The whole oil price system has lots of drivers from oil-producing states waking up to the real value of what they have in the ground, to worried investors who are starting to comprehend the house of cards that is the US economy. People in this system are like cellular automata's who are following their own interests. I think the influence by global actors like government, KSA, or even Exon Mobile is quite muted. As in calculus, all the little dx's add up, but you need to understand the underlying trends in order to add them up and make any sense of it.

As I see it, all this energy, fear, and money are racing around trying to find some stability point, yet they can't because it is a chaotic system. It keeps oscillating and chasing any hope for answers and stability... but there are no easy answers or safe havens. Climbing out of this peak oil hole will not happen easily or naturally, unless you are betting on Malthusian outcomes.

You're much more optimistic than I about the impact of the GM-Volt. I sure hope is has an impact, but I see it as too little, too late. By 2010 we're going to be in a vastly different world if we continue on current trend lines.