Could oil prices (and gas prices) see less fluctuation if oil companies stockpiled incoming oil?

If oil companies built large reserve tanks (millions of barrels worth) and bought a consistent, steady supply, would the supply and demand spikes be minimized and the control of prices shift back to us?Could oil prices (and gas prices) see less fluctuation if oil companies stockpiled incoming oil?
To answer your questions...They already do, and it does.





Oil companies arn't stupid, if they see an opportunity to buy oil while it is cheap and stockpile it, they do. However, there is only so much you can stockpile. And if there is an opportunity to buy cheaper oil, so many companies start buying it that it drives the price up again...simple economics.





To answer the other part of your question, the price of gasoline (and oil) is already controlled by us, the general public. There is an incredible demand (320,500,000 gallons of gas per day), and thats what drove the price of oil up to the $145 range. Then, there was a small backlash, and people starting driving more conservatively, and using less (the first decreases in consumption in 15 years), resulting in lower gas prices. Its ALWAYS about supply and demand.

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