On 21 Jul 2006 09:35:13 -0700, "Chuck Gould"
wrote:

I'm surprised that they didn't realize, long ago, that there is no
practical upward limit to the amount they can raise prices.

Interestingly enough they do not "raise" prices. They buy and sell on
the open market like everyone else. It's called supply and demand,
open auction market, etc. When the market is willing to pay more for
oil, their inventory is woth more (both in and above ground). If
their inventory is worth more, they make more money, no conspiracy
theories necessary. Should they be required to give it away at below
market value because our boating is costing us a bit more?

For the most part the big oil companies are highly efficient, with
huge investments in exploration, extraction, refining and
distribution. Who would be willing to make investments like that if
not allowed to make a profit?

Who would be willing to invest in the magazine business if not allowed
to make a profit?

Get in there and buy some oil yourself. The Wall Street Journal
quotes wholesale commodities prices every day.