Either you favor the free market, or you don't.
The alternative to pricing a commodity based on supply is to cap the price. We all know what happens when price controls are instituted, don't we?
I have a company diesel truck and my 2 family cars are Saturns. If $5/gallon gets the poor people off the streets and less traffic congestion, let's have it.
its not a free market. we have 4 or 5 majors controlling it, a worldwide cartel on the supply side, wall street speculators and hedge funds flooding the futures market turning it into new "tech stocks" - and consumers who must have the product to conduct their lives, taking it on the chin.
I am not for price caps either, but don't claim that oil is some kind of perfect free market, its not, its heavily controlled and manipulated.
"Either you favor the free market, or you don't."
I'm not sure whether you really just aren't aware of how much oil is NOT a free market, or whether you're just another oil guy spinning the coming ripoff.