India and China have indeed pressured world oil prices but the "uncertainty" premium is largely a Bush Junta product.
I do find it interesting that you mention taxes though. Bush policies have essentially been an energy tax on production and consumption in America. Unfortunately, our nation won't see any benefits from it . . . unless of course we develop next-generation technology for fuel efficiency . . . oops too late.
It's difficult to extract the EXACT magnitude of the Bush energy uncertainty tax but even a Democratic Congress would have been unlikely to get in the same area code as our current Bushwhacking.
My state has the highest gas taxes in the South (NC) by far. Yet NC is amongst the best in the region when it comes to economic growth.
On the federal level, small, gradual increases in the gasoline tax would have provided revenue while at the same time "coaxing" consumers and producers to make long-term behavioral changes. In a time of crisis . . . say hurricane, refinery explosion, Chavez and Castro marry . . . the feds could easily rollback taxes to take the sting out of potential price spikes.
Instead . . . what do we have? A trickle from the SPR, weaken environmental rules, beg the Saudis to pump more of the Heavy stuff, exhume the ANWR zombie . . .