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Price controls would be unjustified except for one critical point: the oil companies are posting record profits. If they were struggling to make ends meet, then high gas prices would be unjustified. But, as Exxon and other oil companies are buying back their stock, they are enriching themselves while working Americans bend over and take it.

If prices were high because the oil was expensive, I'd have no problem paying $3.00/gallon. That's not the case, however. Prices are high because the market has to buy their product, so the oil companies can force people to buy it.

I support a Windfall Profits Tax. And don't give me the "troll" garbage. I've been here since Sept. 2000. The simple fact of the matter is that these oil companies are on the way to actually derailing the American economy. 100 years ago, when coal strikes threatened the American economy, the military seized the coal mines and ensured the uninterrupted supply of coal. We need to do the same for oil now.

Price controls would be unjustified except for one critical point: the oil companies are posting record profits. If they were struggling to make ends meet, then high gas prices would be unjustified. But, as Exxon and other oil companies are buying back their stock, they are enriching themselves while working Americans bend over and take it.
As we dance to the socialism tango... Sorry, it just reminded me of a song I was taught in high school.
Actually, it's the possibility of increased profits that motivates producers to invest in producing more.
If prices were high because the oil was expensive, I'd have no problem paying $3.00/gallon. That's not the case, however. Prices are high because the market has to buy their product, so the oil companies can force people to buy it.
Nope, wrong! When prices rise, people use less, unless the price is not particularly significant. We'll know that prices have risen to a significant level, when we see significant adjustments being made by consumers.
I support a Windfall Profits Tax. And don't give me the "troll" garbage. I've been here since Sept. 2000. The simple fact of the matter is that these oil companies are on the way to actually derailing the American economy. 100 years ago, when coal strikes threatened the American economy, the military seized the coal mines and ensured the uninterrupted supply of coal. We need to do the same for oil now.

Who cares how long you've been here? If you think like a commie, you're a commie. The free market invariably solves these kinds of problems better than government intervention.

Price controls would be unjustified except for one critical point: the oil companies are posting record profits.

That is because their profit is a percentage. It works like this. Your cost is $1.00 you are allowed to make a 3% profit. (I believe that this is the amount that it is set at to prevent gouging.)

You sell it for $1.03. Your profit is three cents.

Most people do not find that unreasonable.

Now however the cost has risen to $3.00. Using the exact same percentages you charge $3.09. Your profit is nine cents and everywhere people are screaming that you made "record profits" and cursing your name.

But is this position justified?. You are still making a 3% profit. Nothing has changed. Is a three percent profit unreasonable?