Behind The High Gas Prices

High gas prices are relentlessly eating into American family budgets now. Three dollars-plus a gallon at the pump. Thirty, forty, fifty, sixty dollars for a fill-up.

For most families, that's real money. And nationally, it's a huge transfer of wealth from little pockets to big pockets, as the oil companies chalk up stratospheric profits.

Americans have taken it in stride so far, but maybe they should be asking more questions. Like exactly what's driving the gas prices and whether those profits are helping position the country to break its oil addiction.

This hour On Point: what's really going on with gas.

Guests:

Tyson Slocum, Director of the Energy Program at Public Citizen, a consumer advocacy group.;
Sara Banaszak, senior economist, American Petroleum Institute, a trade association that represents oil and natural gas companies.;
Philip Verleger, founder of PkVerleger, an economics and energy consulting firm.