Re: Breathe fire
Oil is a commodity, traded openly on the global market. There are hundreds of oil companies, many very large, none of which control the pricing, the recent re-combining of The Old Standard oil companies is allowed because of the size and globalization of the oil industry worldwide. If Exxon makes $10 a barrel profit for every barrel sold at $40/barrel, then they stand to pocket more at $60/barrel, record profits go hand in hand with record prices.... I'm not saying there hasn't been some hanky panky with gasoline pricing, but there is no monopoly on the oil side. More refineries is a good idea, and Opec controls oil pricing more than any other body. Bush and the US are not members of OPEC.