Big problem: there have been a few cases of refinery capacity being manipulated for profit. Yet Democrats want to seize on such examples to as proof that the larger part of the run up in prices is because of dirty capitalists rather than anything fundamental to the market. Part of the bad faith in markets downstream from Enron, and from Exxon being more concerned with propaganda than truth. Too many Democrats don't trust that business is honest about anything anymore, especially in where it finds its profits. Therefore profit itself is taken as evidence of crime.

This is idiotic. But it's what happens when businesses have too often been too dishonest, and an opposing party has few in it who deeply understand business or economics. (And I'm a Democrat saying this.)

With current crack spreads, many oil companies might be well advised to sign over title to refineries for one dollar.

Westexas,

Makes sense to me. Refineries are no longer making money, and don't look like they will in the future, and oil companies would be well suited to dump these giant fixed expenses, huge infrastructure maintenance, and money losers onto We The People for their upkeep and care. Upstream is still profitable. The oil companies are learning from/jealous of the banks--dump the losses on the backs of the people and keep the profits for the few.