For those that may be interested, my perspective is that oil markets have been free of regulation for sixteen years. Free trade has unearthed more knowledge about the value of fuels--and of the technology that transforms them into useful energy--than was ever the case in a regulated market. Along with vigorous competition, free markets also bring uncertainty and unpredictability--a kind of trading frenzy that results in price volatility. From time to time, and for reasons that are not entirely obvious to the average consumer, prices of commodities such as oil go up, sometimes sharply, recurrently and repeatedly, and always inconveniently. Once goods and services enter the world of commodity markets, they become part of a trading system so vast, and now so global, as to make it difficult for any individual or group to manipulate supply and price as OPEC did during the notorious decade of energy crises. Identifying causes and effects of price changes also becomes difficult when markets take over.
If you must choose between two evils, pick the one you've never tried before.