The price of oil is not a mystery borne of conspiracies,  it's simple supply and demand. In the late 70's we were in the same situation we are in now. What was the Democrat's solution then? The same as it is now: alternative energy and tax the oil companies. Before we start down that path again why don't we take a look back and see how it all worked out.When Jimmy Carter came into office the price of oil was around $14.00 per barrel. A lot happened during the Carter years, most of it bad. Investor's Business Daily has a good summary here. By the end of the Carter Administration we had: the Synthetic Fuels Corp., the Energy Department, price controls on domestic oil, oil import quotas, and the Windfall Profits Tax. And when he left office the price of a barrel of oil was $35.00; that was a 154% increase.One of Reagan's first acts as president was to completely decontrol oil prices. Prices peaked briefly, then began to fall. For years prices steadily fell until they reached...(Read Full Post)