As oil prices hit $75 a barrel, the U.S. is right now caught up in an idiotic debate over supposed price-gouging at the pump. Congress wants to investigate oil companies over it.

What they should be doing is asking why the U.S. is dependent for its oil on anti-American Venezuelan dictator Hugo Chavez. We are dependent on him, he knows it, and he abuses us for it. It’s him who, along with his pals the ayatollahs, is deliberately trying to drive oil prices up to $100 a barrel, not the oil companies.

That’s not all. Chavez harasses U.S. oil companies who invest in his country, too, calling these producers of value ‘robbers.’

Like to turn on the light or ride the bus or tram or car or use anything plastic? Like paved roads? So much for ‘robbers.’ Go thank an oil company.

Oil prices are high due to pressure from both supply and demand. New customers who are riding cars and flipping on the electricity for the first time are emerging in China and India. That is increasing pressure on demand.

But new supply is being SUPPRESSED by two disgusting factors: Hugo Chavez is abusing oil companies as ‘capitalists,’ and stealing their assets, breaking their contracts, forcing them into Chavista worker collectives and raising their taxes. Production is down but Chavez really believes that oil produces itself. Instead of thinking of oil as a harvestable commodity, he thinks of oil companies as a harvestable commodity.

Meanwhile, U.S. Congress, in equally horrible stupidity, refuses to allow oil companies to drill offshore in the U.S. due to environmental and aesthetic concerns. This, on an industry that was able to withstand Hurricane Katrina with no spills. It gets really annoying when you realize that Castro gets to drill for oil 35 miles off the Florida Keys but American oil companies, according to our stupid Congress, are too big a risk. Just lovely logic.

One country that has avoided this deathtrap vise of stupid logic is Brazil. Rather than blame oil companies for high prices, they understood the law of supply and demand and went out and drilled their own oil without complaining about other people. They increased supply considerably and this weekend opened a spectacular giant P-50 oil rig that is capable of producing more oil than all the ethanol used in Brazil.

HOW CAN YOU NOT RESPECT A NATION THAT SOLVES PROBLEMS LIKE THAT?

What the heck is wrong with the U.S.? We can’t do much about Hugo Chavez but we sure as heck can put a cork in him by drilling our own oil. That is what the debate should be in Congress, not this stupid artificial dead-end issue of price gouging!

Why aren’t we out drilling like Brazil?

Investor’s Business Daily has an editorial about this here.