Price Gouging

Recently the oil industry reported record profits for the last year. I saw that and was furious. In a time where all you hear about is the outrageous gas prices, the oil industry reported a record gain. Then I read this article and my thinking became more rationalized. We are taught daily in business classes that the main purpose of business is to maximize profits. That is just what the oil industry did. In a time where the demand for oil is high, the oil company took advantage of the market. If there was no demand for the product the price would not be as high. It was a smart business move by the oil industry and all we can do is deal with it.