>>>>>Yep. Oligopoly with strategic resources. Hold the nation (or more) hostage.
>>>>You are correct except for one point. The majority of the oil/gas reserves are controlled by Governments. So the hostages are the people and the hostage takers are the Governments. The Oil companies are just a puppet. Jake's comment is correct in a FREE market but we don't have a FREE market any more.
>>>
>>>The price to the consumer is controlled by the Oil companies.
>
>>(given the supply doesn't diminish) still, speculation that supply will diminish or demand will increase often runs the prices...
>
>And who's funding the speculation? Those guys don't even start their text processor unless they know who's paying and, more important, how much.

You got that right. The speculators are in large part the same people that own the companies. They drive up the price whenever it is convenient (and float mindless excuses as reasons why the price is going up) and reap the benefits.