You are not alone in your thinking
http://money.cnn.com/2005/08/12/news/economy/oil_texas/
But with the spot price of gasoline just under $2.00, once you add in state and federal taxes, plus needed profit for refinerys, middlemen and stations, there isn't that much left over for gouging. Could there be some, sure, but if it were more than 5 or 10 cents I would be surprised. Not being an economist or in the oil industy myself I couldn't say.
Unfortunately, for the masses, "perception is reality", and GWB and the Republicans, as the party in power, are going to take a big hit on this if they haven't already.
There's probably very little GWB can do about it (although you'd think he could call in a few chips with a Middle East potentate or two).
My concern is that he's following in the footsteps of his dad by not even addressing what's going on.
Remember GHWB fumbling around in the supermarket checkout line? That, more than anything, may have cost him the '92 election
True...it would only be symbolic, but GWB needs to explain (as best he can) to the American people why this is all happening, and express his empathy and concern.
He's looking pretty aloof about it right now.
Wow, that was an eye-opener. If Texas oil men are talking about it, there's got to be something to it. Call it "creative manipulation" of the cost of oil. I'm sure Big Oil could may be engaged in a certain amount of gouging. Their obsene profits of late might be a good indicator.