[fabian]

it’s stupid to have a commodity like oil which is the life blood of our economy, be part of a market which can and is being manipulated for higher profit. Totally crazy...O’reilly gets it...much more flex fuel and other alternatives now so we will have good competition for all consumers. For us to only be able to choose gasoline is not the free market at work, it is a type of monopoly which is ending, thank God.

[tcostell]

You should really learn something about economics before you say something so utterly foolish.

[traviskicks]

it’s stupid to have a commodity like oil which is the life blood of our economy, be part of a market which can and is being manipulated for higher profit.

Are you serious? This is the definition of capitalism. Government interference and regulation always drives up prices and results in shortages, only a free market (which does not exist in energy markets thanks to government), can deliver services in abudance at a low price and these CEOs somehow don't get it and are pushing to drive up fuel prices even higher if their idiot advocacy plans were actually implimented. One would think that those who had the most to loose from high oil prics would push for the correct solutions (eliminate taxes, and regulations (both in gas mixes and restrictions on how companies can act overseas, oil refinery permits etc.. and remove drilling prohibitions etc...), unless this is just a gimmick to try to keep the customers from being mad at the higher ticket prices.

[amchugh]

I think you are confusing ‘monopoly’ with ‘inelastic good’. Although, oil demand fluctuates in response to price, so it is actually somewhat elastic. As for alternative fuels, oil got where it is because it’s a superior product for most applications where it is used. Ethanol fuel has been around for a long long time, and the barriers to adoption have been partly technical, but mainly the protectionist tariffs on Brazilian sugarcane put in place to protect US sugar production.