We have debated the cause of increased prices at the pump (it is not just supply and demand), the impossibility of a truly free market (unless you crave anarchy and complete brutality), increasing pressure on the middle class, etc., but here we go again presenting the facts against continued delusion...
As I always say, I favor a fair market, not free market because there can be no such thing as a truly free market. There MUST be regulation just to retain competitiveness (the Sherman Anti-Trust Act, which in itself has been denigrated due to anti-regulatory movements). If energy had been nationalized, we would have a NASA-style program in place and America would be efficient and independent at this time. This will not and cannot happen in the private sector because it is profit driven only (i.e., ruled by capitalist greed), and not about the general good or any such ideal.
About this thread specifically:
The growing wedge between the wealthiest 1% and the rest of the population is why many Americans find the Exxon CEO's income to be appalling. Especially at this time of increased housing and medical costs in addition to the price for gas, for which incomes are not keeping pace, and many are wondering how they will retire as their pension plans disappear because of CEO's like him.
The other related issue is that of record profits of oil companies. The oil companies sold off the retail side long ago, so now are no longer held to so-called free market pressures. The tax benefits recently approved by Congress should be repealed, because these companies have done little to nothing to provide alternative energy for the world, and have no real care to do so.
We need complete focus on all alternative sources of energy, renewable, hydrogen and ethanol, nuclear, etc. We need tax incentives for more energy efficient automobiles, homes, appliances, etc. We need to take action immediately. That's what Bush should be demanding for the short term, not his usual lame pie-in-the-sky BS.
