Excuse the ignorance of details, but something's going on here. Why would someone flat out say that the market was "extremely overbought?"

I don't suppose politics have anything to do with it? There is no collusion in the Energy industry. The market does what the market does, right? There are no implications in knowing that the White House and both houses in Congress are GOP controlled, with oil men entrenched in all branches, correct? Demand going up 2% in the U.S. is enough to double gas prices? "Tightening supply?" Please elaborate what that means. "Increased restrictions?" Are you trying to blame this on clean air laws? Where are the numbers? I'll bet they don't add up.

It's said that psychology is the driving force behind economics. If that's so, then the U.S. Government is driving that psychology, as it relates to Energy in general and oil/gas in particular, in an upward direction. Market experts are saying one thing, but official U.S. sources are saying another. We couldn't trust Bush/Cheney with Iraq, why should we trust them on this? Excuse me if this explanation seems simplistic.