Following up my previous comments on the subject, and Melody's question about when people are going to start really getting upset about the price of oil, PowerLine today had a pair of items that really point the finger at those ultimately responsible for the price Americans pay for oil: state oil companies in foreign countries who control 94% of the world's proven reserves, and those politicians in America who have blocked even exploration of domestic oil and near-oil resources, lest Americans come to know exactly how badly they're being screwed. America's oil companies are tiny compared to the foreign state-owned monopolies from whom they are forced to purchase crude. ExxonMobil, America's oil "giant", controls one measly percent of global oil reserves, making it the world's 14-largest by that measure. Only 7% of the worlds total reserves is up for unrestricted bidding by private companies, while almost 75% is completely off-limits, controlled by state oil companies. So who's the big bad wolf?