Yes, there are many here that consider themselves 'experts' in free market economics... yet completely ignore the teachings of Adam Smith.
It's funny that the most strident 'free marketeers' are the one's who usually state that it's perfectly okay for oil companies to charge whatever the market can bear.
Which contradicts Adam Smith, the father of the modern capitalism.
Contradicting his statements such as...
"The monopolists, by keeping the market constantly understocked, by never fully supplying the effectual demand, sell their commodities much above the natural price."
The Wealth of Nations, Book I, Chapter VII
"The price of monopoly is upon every occasion the highest which can be got."
The Wealth of Nations, Book I, Chapter VII
"The natural price, or the price of free competition ... is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together...[It] is the lowest which the sellers can commonly afford to take, and at the same time continue their business."
The Wealth of Nations, Book I, Chapter VII
So, oil companies are a monopoly now? When did they change the definition?