Here's my question about the taxes. If the market is willing to pay the price at the pump that includes the tax, if we eliminated the tax, wouldn't the price remain the same anyway? Exxon would keep more profits, the gubmint would have less revenue. I don't see that as a good deal necessarily.
No. They wouldn't charge the same amount.
The reasons for higher gas prices at the pump right now are not that complex and there is no damn conspiracy:
1. Increased demand (summer in the USA, rapidly expanding economies in China and India)
2. Static supply
3. Market uncertainty because of Mid-East, African and South American political situations
4. Ridiculously inadequate refinery capacity and equally ridiculous refined fuel grade requirements that vary from locale to locale in the US
5. Confiscatory taxes
There is little to nothing that can be done about 1, 2 and 3 in the short term.
We could do something about 4 and 5, but the dems (and depressingly, a significant faction in the GOP) won't let us.
But, there is no conspiracy by Exxon/Mobile/BP and only drooling morons, low functioning retards and grandstanding politicians think that there is one.
I'm guessing that eventually, they probably would jack the price up, but I imagine they would do it incrementally. This would at least give people some relief for a time, and it would make the govt look really good, especially at a time when it is badly needed.