>>>Exactly what would you hope to accomplish by taking oil off the market and can you justify attempting that effort, given the historical results when this type of measure has been attempted previously. Price caps do not work, in fact, they make matters much worse.
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>>If this were an industry that was slightly out of control, then minor regulation or jail terms for abusers might work. As this industry has moved into the twilight zone of extreme price gouging of a strategic resource (it isn't just the arabs folks), nationalization of the industry makes a lot more sense.
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>Specially as a forewarning to the next gaugers - would you like to pay outrageous prices for food, water...?

Yep.

Food is already on its way up due to oil and people using food instead of oil (ethanol - one of the stupidest ideas in many years).