Shouldn’t Obama be thanking Big Oil for keeping prices low?

Hat Tip: Crossing Wall Street Look at how much the price of oil has risen versus the price of gasoline. Oil’s gain is far outpacing the gain in gasoline. Doesn’t this raise a few questions for Barack Obama, who loves to vilify “Big Oil” and has been talking about a windfall profit tax . Obama proposes oil companies be taxed on windfall profits from oil sold at or above 80 dollars a barrel, and the revenue be used to help relieve the burden of rising prices on working people, according to his campaign. The price of the commodity that “Big Oil” relies on has risen nearly 7X since 2002, yet the price of the product they deliver to the consumer is only up 3X. Seems to me they must be very well run businesses to pull that off. After all, it is not as though “Big Oil” is making consumers pay so they can have massive profit margins, CNNMoney.com’s editor Paul Lamonica , The average net profit margin for the S&...