China puts
price controls on gasoline and diesel so that oil companies aren't gouging our pockets. China is the No. 2 consumer of oil.
Even
India uses price controls. The problem, according to the countries, is that the oil companies are losing millions of dollars since they have to eat the cost.
Of course, with Exxon Mobile Corp. mogul J. Stephen Simon (the executive VICE president) raking in
$12.5 million last year, I hardly feel sorry for them.