From an article in the Washington Post:

Top executives of big oil companies on Wednesday defended surging profits at a time of high prices, and warned a Senate hearing that a windfall profit tax could stymie investment and lead prices still higher.

Translation:

Top executives of big oil companies on Wednesday were forced to apologize for running their businesses in a responsible and profitable manner when consumers became inexplicably cranky about their own purchasing habits, leaving Big Government Politicians happy visions balancing budgets with extra-special Big Government taxes on energy companies.

Of course, between tax breaks, incentives, restrictive policies, and the threat of extra taxes to help balance out energy company profits, I doubt that anyone can figure out how profitable the oil industry would be without the government’s meddling. The dollar cost of a barrel of oil is just an illusion when considering the actual price paid at the end of the day.

Read the story.