An interesting article from Fortune.
Politicians propose legislation that would increase regulatory scrutiny of Big Oil -- but fail to mention that voters could maybe give up the giant SUVs.
The idea that prices are set by Big Oil, not the traders at the NYMEX and other global bourses, is a misconception that seems to come into vogue whenever energy prices start making new highs. And putting the blame on OPEC, let alone trying to subject a foreign cartel to U.S. laws, seems to be doing anything but dealing honestly with the problem of too much demand and too little supply here at home.
Read the rest here.
There is no doubt that oil, refining, and gasoline companies are getting rich off the current oil climate. But if you ask me, one needs to take responsibility for what they can control; what they drive, when they drive, (i.e. use a bycicle) and how far they drive/commute.