[mysterio]

Demand has enabled the profiteering that is taking place.

[Protagoras]

Transactions entered into absent coersion are essential to a market based economy and a free society.

All financial transactions are essentially speculation.

BTW, the term you use is hopelessly loaded, not to mention, inaccurate.

prof·it·eer ( P ) Pronunciation Key (prf-tîr) n. One who makes excessive profits on goods in short supply.

The term "excessive" is your opinion and oil is not in short supply.

Not to mention, price determines supply.

There is inadequate supply of gasoline at 1 cent per gallon. However, the supply of gasoline at $10,000 per teaspoon is inexhaustible in practical terms.