LOL! You must be joking! The Big Five oil companies control gross revenues far greater than most COUNTRIES on this planet. They can buy and sell governments! Not even an economy as powerful as America's is immune to energy manipulations.
There is NO legitimate reason whatsoever that the world's economic health should be held hostage to these godless cartels. Their product is an abomination that should have been obsolete after World War II demonstrated the fragility of the supply line. Instead, we go through these ridiculous cycles of fabricated shortage/fabricated oversupply and we grumble about it but no sooner start to do something and the price drops ... just like it has recently.
Price be damned! Now is the time to drive a final stake into the withered hearts of these economic ghouls by developing ANY and EVERY other source of energy we can: ethanol, biofuels, shale, coal, nuclear, wind, solar, flatulent methane, I don't care. Every day that we depend on oil for our lifeblood, we trade our liberty for ease. This country is made of better stuff.
Who do you consider the the "Big Five"?
“The Big Five oil companies control gross revenues far greater than most COUNTRIES on this planet”
No, they don’t “control” their revenues. That is, they don’t control future revenues. They have to earn them.
“Price be damned!”
That about sums up your “economic” analysis.
“Their product is an abomination that should have been obsolete after World War II demonstrated the fragility of the supply line”
A war involving hundreds of nations and millions of people probably demonstrates the fragility of the supply lines for plenty of resources.