Gas Prices: Are you laughing at the working chumps who can't afford to fill up?

My friend is hoping that gas prices shoot up high since he has investments in the oil companies, and says that the only people who will get hurt are the ones too stupid or impoverished to invest in such a way. Nearly everyone around him (including me) who followed his advice are RAKING in cash. And we get a good feeling at the pumps. Unlike the poor b$stards that can only complain and hope for the best. Are you doing this strategy? Is my friend being insensitive?