The Bayway refinery operated by ConocoPhilips is one of the largest on the East Coast and its production levels directly impact fuel prices in the region.

FORBES: The Port of New York and New Jersey, a Critical Hub of Global Commerce

For example, Exxon has refused to splurge on over-priced assets despite the huge cash pile it has thanks to high oil prices (a discipline not exercised by its smaller American rivals Chevron and ConocoPhilips, which are now gobbling up, respectively, Unocal and Burlington Resources).

ECONOMIST: Oil