We must require oil/energy competition

If you've wondered, as I have, where all the money goes when you pay nearly $4 for a gallon of gas, the answer is given - at least in part - by an article in the New York Times Business section.

Entitled "Exxon's Texas-size war chest," it tells how this company is hoarding its money, while preventing the value of its stock to rise much and avoiding the need to share most of the loot with its own shareholders.

It does this, in part, by buying back its own stock and has amassed a quarter-trillion-dollar war chest with which it is expected to swallow up other companies when the time is right.

All of which again points to the burning need to bust up this giant robber and others like it, to begin enforcing anti-trust laws, and to require competitive practices in multinational companies, especially those selling oil and energy.