Oil has shot up from last years highs of $80 a barrel to over $125 a barrel and with no end in site. Many expects are saying it should top $150 to $200 a barrel this summer which will mean $4 to $5 you pay at the pump. At this rate the cost of me going to work will be what I make in the day!

What do you think about whats going?
How often do you have to fill up?
Should the government tax oil profits?
Should the government put a tax holiday on gas?

All key questions that will raise or lower what you pay at the pump.

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Well some say it's a hoax by the government, and that we have plenty of oil, and others say oil is simply becoming a scare natural resource.

I think it may be a little of both, but more on the natural resource end. As it's not only gas that's having this problem, but also things we buy in the grocery store which are having similar effects (higher prices for milk/eggs/pasta, and reduced product contents).

I think the government should do both ideas you listed. However, I think it would be wise to invest in a Hybrid car.

Others would say we simply just need to stop driving so much and taking unnecessary drives, as we are the worlds largest oil consumer correct?

That's my 5 cents on that

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It can be both reasons. Government can play such hoax around the Globe but they might have good plans to get better results after they play such hoax.

Others, There are many alternative energies created in different parts of world, why not give attentions to that instead of oil price raise. People should protest this thing and force Government to use alternative resources.

I think oil price in US will rise again this month.

Great points and thinking more I wonder about oil companies. Right now they are making big time money. However they might not be in the future as we are now striving more then ever to get off our dependency of oil. Perhaps oil company's are both helping and hurting them self's at the same time. Or looking more to the future then the now.
What I mean by this is Although prices are so high people still have to pay them for the time being as their is very limited other methods to getting around. Oil company's will make a ton of money and at the same time push people to WANT and NEED to move to greener other fuels for everyday living. When the oil company's start losing profit on oil they can easily use all that money they are earning now to buy and sell greener fuels thus placing them selfs on the high thrown once again.
I expect Oil a barrel on the open market to hit well near $200 by the end of this year.

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Well, I don't really have a problem with it. I live close to work and bike there, or take public transportation. Oil and gas prices are not a big issue for me. However, I do see that the American people should start finding more oil, and demanding of Congress that oil companies can drill wherever oil can be found, be it on the coast or in ANWR, in order to reduce our oil dependence and increase economic growth.

I think these increses are result of improved technology.
When a well is drilled, the fact that oil or gas is found does not mean that the well will be completed as a producing well. The determining factor is economics. If the well can produce enough oil or gas to cover the additional cost of completion and the ongoing production costs it will be put into production. But now we need to develop new things, such as biofuels from waste plant material and wind and wave power. If you believe that hydrocarbons are the cause of climate change, we need to find ways of capturing carbon dioxide and storing it because there is no question that we will have to burn coal and natural gas for many more years. Apart from government, which means the taxes, there is no prospect of paying for this without oil profits - a power station equipped with carbon capture and storage would cost lesser than what we have now right?

Well, mindset, a new coal plant may be slightly more efficient then an old one, but the costs of building it are massive, and environmental policies make sure that it isn't easy to do. Carbon capture is a nice idea, but you'd still have to store it. What would happen if the storage place got a leak? Then we're still screwed! No, I think it's better to develop alternative energy sources which are sustainable, such as solar, wind and nuclear fusion, in order to provide the energy we need.