Back in 2008 Steven Chu knew that the price of gasoline should have been $6 or $7 a gallon (roughly the price of gasoline in Europe at the time). Now he is just as sure that the price of gasoline should be less that they current price of about $3.80 per gallon. Damn he is smart. He should get a Nobel Prize in economics for having such insightful knowledge about what the price of gas should be, as opposed to what it is.