Originally Posted by Codger
It would make sense that since many are faced with daily reminders of what happens when one spends beyond ones means, that a more conservative approach to personal finances will prevail.
That's contrary to human nature. People will spend everything they have and everything they can get their hands on. The question is whether it will be spent on petrol or everything else. Now is the time to regulate the devil out of the oil industry before they have the opportunity to jack the prices again (which will happen as soon as the economy shows any sign of improving). Take the commodity traders and the speculators out of the equation. We've realized that we have to take a world approach to the ecconomy; let's take a world approach towards the oil companies. If the oil companies try to jack prices above the rate of inflation call it what it is "price gouging". Then jail the CEO's and sue for 3x the excess profit. Either that or nationalize them.