For those of you who still proclaim that "big" oil sets crude oil, gasoline, and other energy prices take a look at exactly who is "big" oil. It's not Exxon, BP, or Chevron. The largest oil and gas companies are national oil companies like National Iranian Oil Company (#1) in total reserves, followed closely by Saudi Arabian Oil Company (#2). Only three free enterprise companies crack the top 20. Exxon at #17, BP at #18, and Chevron at #20.
Of the top 20 oil companies Exxon, BP, and Chevron control just 2.3% of total oil and gas reserves. It is therefore impossible for companies such as Exxon to control or manipulate energy prices.
You and I have some control over energy prices by two methods. Since energy prices are driven primarily by supply and demand we need to conserve (drive less, more fuel efficient cars, etc) and demand that our representatives pass measures to increase supply (off shore drilling, ANWR drilling, nuclear power, clean coal technology, wind&solar power).
Until we take control we have little reason to complain. We have met the enemy and he is us.(Tim)
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