Many of us can expect to pay $3 a gallon for gasoline this summer, thanks to some speculators who are bidding up the price of oil and to the oil companies who love that kind of speculation so they can raise prices accordingly.

Remember, the oil companies don't have to raise prices. They can make huge profits without reacting to the speculators. But why do that when a few speculators provide them with an excuse to charge as much as they can this kind of going to the penitentiary? Now that's the truth and if you don't believe me, hey, that's up to you.

Now, the awful thing about the gas gouge is that it could have been avoided. Next year the country of Brazil, population 188 million, will be energy self-sufficient. That is they will not import a drop of oil.

Why? Because the Brazilian government in the seventies mandated that Brazilian cars would run on ethanol, which is made from sugar. Who is the biggest sugar producer in the world? Brazil! Now if Brazil can make its cars run on sugar, the U.S.A. can. We have even better technology than Brazil but we do not have the will of Brazil.

That's because the Federal government sold us out to big business. The oil companies, the car companies, they don't like ethanol. They like expensive oil. Sugar-based fuel would get us away from OPEC, help the environment, help the economy and make your life better. But we don't have it because big oil and big labor said no and the politicians went along.

So every time we have to fill up with $3-a-gallon gasoline, we should think about Brazil. We should have pictures of Rio on our car windshields. We should have sugar cubes on our dash boards because we could be self-sufficient in fuel as well. And one more thing — this gas gouge is very similar to illegal immigration. Both problems could have been solved a long time ago if the government was looking out for the folks. But clearly the government is not. And we are all paying the price for it. And that's both parties, by the way.

And that's "The Memo."

The Most Ridiculous Item of the Day

Our pals at the far-left newspaper The Atlanta Journal-Constitution continue to deny there's an anti-Christian movement in the USA, despite overwhelming evidence there is.

Since this is Holy Week and Passover week, Thursday on “The Factor” we will point out the absurdity of the Atlanta paper's position. And we'll also look at this Judas controversy. Did you know he's now a good guy? How did that happen? Could it be ridiculous? We'll find out on Thursday night's "Factor."

—You can catch Bill O'Reilly's "Talking Points Memo" and "Most Ridiculous Item" weeknights at 8 and 11 p.m. ET on the FOX News Channel. Send your comments to: oreilly@foxnews.com