Oil quadrupuled in 1974 when the US upset the Saudi royal family by siding with Israel. Nothing happened to Saudi Arabia but the world suffered. By making a large part of the gasoline price, tax ,you give yourself a buffer and the US is still filling its reserve. The OPEC block has most of its financial assets invested in the west so they will hurt themselves by fiddling too much with the oil price. The only way forward is negotiation, disarmament, and a solution to the Palestine problem.....not easy tasks.
