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Oil's Bigwigs Enjoy a Rigged Market

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Fundamentally, the energy market isn't really a market -- it is rigged by nationally run oil monopolies that dictate the supply and prices of crude oil, individually within their own borders and globally through the OPEC cartel. In that system, private firms such as Exxon Mobil and Chevron are mere price-takers. But they are also willing free-riders who benefit handsomely from the price-fixing of others.
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Doug Drenkow is a writer, editor, webmaster, and producer. A fourth-generation Democrat, Doug has produced the political talk shows "Barry Gordon From Left Field," on radio, and "NewsRap with Barry Gordon," on cable TV, featuring top (more...)
 

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