I 100% agree. I would also add that I think there is a fundamental problem with the way oil is brought to market. Speculation is killing us, not the oil companies. If someone offered you 10k for your ride and another guy offered you 20k, which would you take? Exactly what's going on in the commodities market. Speculators are pushing the price up based on fear, greed, geopolitical issues, etc.
The problem is that there is good supply in the world! We have to stop buying this crap that supply is soooo tight therefore we HAVE to charge these prices.
Regarding China. They are subsidizing their country's supply! Again, something needs to change (like not selling to govts) I honestly dont believe China would be the factor they are today if their people had to pay what the rest of us pay for gas/oil. If they paid normal prices, their demand would go down, supply rises, and the rest of us get some relief.
just my .02