Are the major oil companies engaging in price gouging because they know technology will make them irrelevant?

It is because of the hydrogen fuel cell engine that they want to make 100 years of profit in these last few years.

Unfortunately, they have unbalanced the world and as alternatives get closer the concept of seizing all their assets looks better and better all along.

Technology is not going to make the oil companies irrelevant as long as they have a good structure to transition over to the marketing and production of feul alternatives. If we all start using a bio-diesel or organic ethanol source, we will still need companies to produce and ship it to us. If we start using different engine types like hydrogen, then they will find a way to sell the cells that go into the cars. If electric motors become the fad, then they will produce and market generators or get into the electric field.

These companies have bee naround so long that they have re-invented making money. Thye now how to get it and where to get it before the rest of us do.

Heres some oil crisis ammo for you guys, some of you will be salivate'n for weeks after hearing what this guy has to say.

Warning, some of his talks are over an hour long.

Get on utube, do a search for "Lindsey Williams", he has more ammo on the oil crisis than the average man can shake a stick at.

You do realize that petroleum is used in over 6000 other products we use daily, aside from gasoline? Right??? With or without alternative energy, petrol will still have plenty of uses!

No...they just know that us fools will pay the price for just about anything we THINK we need, regardless of what it costs. Look at how many of us got slammed in the real estate market! Will we ever learn!!

I wouldn't doubt it. Check back on the history of Standard Oil company in the US.

No, it's your 401k that's driving up the price of oil, and the Fed who refuses to raise rates despite that fact that a dollar can't buy a stick of used bubble gum.

Bidness.

There is a lot of money to be made before they become irrelevant

I used to think they were gouging, until I bought some shares, now I don't feel so bad about it

no.oil is used for the production of most everything. the uses will never dry up. they know this.