Politicians who condemn Big Oil for its current windfall need to look in the mirror. High prices for gasoline and other petroleum products also benefit Big Government. Much of the cost of a gallon of gas, after all, comes from taxes, not from price-gouging. The pain is made all the worse at the pump because many of these taxes are based on a percentage of the price per gallon, not on a set amount.
Thus, the higher the price at the pump goes, the more tax money is raised. There is no limit. Politicians who really want to help consumers should not seek to cap oil company profits, but their own tax take.
I’m not holding my breath.