Re: The free market always works...
Of course it does. But while increased prices for fuel will provide a slight extension of the oil reserves, it has other consequences. For example a lot of independant truckers may go bankrupt. Transportation companies that stay in business will be the ones that successfully pass the increased costs on to the consumer. So the cost of living goes up for everyone. Note also that this seems to happen during recession, so it is a double whammy to the common joe.
No matter how I look at it petroleum is something I would strive to eliminate from the economic equation.