Finally, our political leaders should work with the oil companies to become better caretakers of those most harmed by rising energy prices. When we at Citizens Energy write to oil companies to ask that a small slice of their profits be used to help the poor -- the same message sent by a bipartisan group of 10 U.S. senators to the industry in 2005 -- the usual response is that the proper source of aid is the federal Low Income Home Energy Assistance Program (LIHEAP).

That's the same program that was shortchanged at its birth some three decades ago. If the oil industry marshaled its robust phalanx of Washington lobbyists to push as hard for increased federal fuel aid as they fight to retain their subsidies, LIHEAP could expand beyond the five million families it currently serves -- less than 20% of those eligible -- and increase a benefit that today buys less energy than ever. [...]

More than a century ago, President Theodore Roosevelt, a Republican reformer and environmentalist, raised the wrath of his own class in taking down Standard Oil and the petroleum oligarchs for the good of the nation. The new social compact did not destroy the industry, it simply managed it for the good of our country.

Twice before in our country's history, outsized profits by Big Oil prompted government to step in to protect our nation by redrawing the corporate compact with petroleum barons. Such a moment has arrived again. Our nation needs a new bargain with Big Oil that serves the interests of our economy, our environment and our most vulnerable citizens.