All the current hooplah about the "record high" oil prices and the corresponding gas prices has me a trifle annoyed. Nobody ever seems to bother mentioning the terms "inflation" or "present value".
For example, I can't remember hearing anything about how motorists in the US really paid more than they do now for gas through most of the 80s or how, adjusted for inflation, the real record high for oil was set at $60 per barrel, back in 1981. ExxonMobil actually had an interesting publication on this, back in 2000.
Personally I am in favor of high oil prices, and as sick as I am hearing about it, I believe it is vital that the public starts getting concerned, and therby modulate its consumption... The higher the oil prce, the more viable alternative forms of energy become.