I agree with you that the oil companies are making enormous profits from this. I say let them. The more they price-gouge, the more incentive there is for an alternative energy source. And when the alternative energy source takes over, you are going to see these companies collapse. And that will be a fine day. I am very tired of high energy costs. The cost of dealing with the Arab nations is too high, and our oil companies are well aware that we can't drive any less than we are right now. They could probably set the price at $10 a gallon and we would still have to buy it. I know it's not entirely their fault, but it will be immensly satifying to see an alternative energy source send oil's price through the floor.
I agree completely. I do not advocate regulation except by the marketplace. The oil companies are thieves and profiteers, but that's the risk you run when you embrace capitalism. You just have to hope that the people running businesses have some kind of conscience. (You might also want to jump out an 8th-story window to see if you can fly.)
And when the alternative energy source takes over, you are going to see these companies collapse.
Sadly, here I have to disagree. By the time they've wrung the last farthing out of the oil-consuming public, the oil companies will have diversified into whatever alternative energy source has been developed. Then they'll proceed to rape us for the next century selling that commodity.
Big Oil knows no allegiance, no borders, and no scruples. It is a virtual nation built on pure greed.