It's not the oil companies that are profiteering off this, it's the crude oil producers who spend far less than $70 a barrel extracting and delivering crude and the paranoid commodities traders who are screming Chicken Little and are bidding up the price of oil without reason.
These people need to be diva-slapped until they realize that supply is not nearly the concern they think it is in the short term. If you want to be concerned about 2010 or 2015, fine. That has no relevance in the price of what is being delivered next month.
Paranoia also exists within both stock and bond analysis of Ford.
