Lets get one thing straight, oil companies are evil. But yes, we should deregulate them because they basically regulate themselves right now anyway. There's too many conflicts of interests in government agencies and inhibits a true free market. The oil companies are the DOE, and the DOE is the oil companies at the same time. Barriers for entry are ridiculous, and there hasn't been a new oil refinery because they want prices to be high. So, if we just got rid of the regulations (which clearly don't work anyway) we could let the people vote with dollar bills on who they want to use.