Surprise, surprise - Palin, BoonMe and Mini Mom wrong again.

http://mediamatters.org/research/201105090007

"The biggest factor is the rapid growth in world demand, especially India and China. Over the past decade, about a third of the global growth in world demand has come from China alone. Currently with most of the exports from Libya down, that is causing prices to be higher. However, Saudi Arabia has indicated they will pick up the slack, but that will take a while to work through the system. Saudi oil is sour crude, and Libya produces sweet crude mostly destined for European refineries that cannot generally take sour crude."