[Gothmog]

Originally Posted by Steve Wood

Once again, Gothmog ignores reality in order to pursue his holy war against free enterprise.

Oil companies do not set the price of oil. They never have. Once there was competition with a multitude of suppliers and buyers that set the price thru competitive bidding.

Today, the price is manipulated by a monopoly of national oil companies rather than Exxon, or any other private company. The supplier manipulates supply and oil is priced by buyers and speculators...Private companies have virtually no input on the price paid other than what market forces dictate.

Gothmog knows this, but, it does not fit in with his agenda. He would have nothing to launch tirades against if he admitted the truth. He probably would like to see the US industry nationalized and run by the government. This would be an exercise in futility as such a large percentage of the oil comes from overseas that the only effect would be a higher price at the pump as government inefficiency further runs up the cost of distribution.

Well, that would not be the only effect as a very large number of employees of private companies would suddenly be without work as the major distributors like Exxon relocate their business entities to freer countries.

I dont have any agenda. I'll agree with you that the price is set by monopoly of national oil companies...
I agree.
and exxon just benefits