Gasoline $2 +/-

Crude oil [US@CL.1 58.79 -0.54 (-0.91%) ] on the NYMEX fell $3.08 per barrel, or nearly 5 percent, to $59.33, the lowest close since March, 2007. RBOB gasoline futures fell 4.5 percent to $1.3059.

Alaska has plenty of oil, enough to supply the United States for 200 yrs

July, 1980
Author Lindsey Williams who had executive status with the 9 major oil companies on the Trans-Alaska oil pipeline has written a book stating the facts listing names, dates, and places says: http://www.survivalcenter.com/lw.html

As a former Insider I know Alaska has plenty of oil, enough to supply the United States for 200 years. Lindsey Williams say the world is no where near -
running out of oil.... http://www.youtube.com/watch?v=NbakN7SLdbk

Soros, CME exec to testify on energy manipulation ~ Legendary hedge fund manager George Soros and a top executive at the Chicago Mercantile Exchange are slated to testify next week on manipulation in the energy markets, a Senate panel said Friday, as Washington widens its probe of what's driving record-high oil prices.

Gasoline price went down during Iraq-Iran war for 8 years when Iraq attacked Iran. Since US attacked Iraq, Oil goes up, hence, it is like US is doing a favor for Iran... No wonder there is mouse-cheese chase going on with Iran.
http://en.wikipedia.org/wiki/Iran-Iraq_War

• Commodity bubble Testimony of Michael W. Masters before the Committee on Homeland Security and Governmental Affairs Commodity price is manipulated by speculators ( Index Speculator Demand Is Driving Prices Higher ).

Need to develop effective & efficient technology to extract oil.

• Utah borders Colorado and Wyoming holds about 800 billion barrels. That's three times the size of Saudi Arabia's oil reserves.

Paulson Says End to Market Turmoil Will Take `Months'