The threads about Iraq are in the Politics 'n Religion section, ZH

Good point. But it comes down to who do you trust more? The Gov't or the Oil Industry?
I can't imagine Exxon/Mobil really thinking outside the box, or being completely honest and forthright in the endevour. They have a vested interest in keeping things the way they are.
Maybe the oil companies should have those record profits investigated further, and when (it's not really a question of "if") collusion to defraud the public is discovered, the Gov't could redistribute a portion of those profits into the private sector for research.
That's easy, I trust a company, no matter how large, much MUCH more than the gov't. There's nothing inherently EVIL about big business.
I can imagine Exxon/Mobil thinking outside the box, and I'm pretty sure they're already researching the next line of fuels, it's in their stockholders best interests. Isn't every major car company developing a hybrid vehicle? I've been seeing advertisements for ethanol vehicles, as well. I'm pretty sure big oil, no matter how corrupt you may think they are, wants a piece of that pie as well. And certainly, if hydrogen fuels somehow become a viable alternative, I'll guarantee that the corner hydrogen refueling station's sign will say Texaco, Sunoco, Exxon or Mobil.
Now, I'll be the first to admit that I'm not up to speed on all the laws and regulations that are applied to oil companies, but, why do you seem to think the public was defrauded? We willingly pay those prices, don't we? I literally could walk or ride my bike to work, yet I choose to drive because I'm lazy.