RE: Gas Prices and the Repubs
March 19, 2012 at 10:41 pm
(This post was last modified: March 19, 2012 at 10:42 pm by Minimalist.)
http://www.mcclatchydc.com/2012/02/21/13...ehind.html
Some people like to call this ( ahem) "the invisible hand of the market" and pretend that it is a good thing.
I call it price gouging and corruption.
Take a few of the oil speculators out into Central Park and put a bullet in the back of their heads and see how fast the rest of them fall into line.
Quote:WASHINGTON — U.S. demand for oil and refined products — including gasoline — is down sharply from last year, so much that United States has actually become a net exporter of gasoline, unable to consume all that it makes.
Yet oil and gasoline prices are surging.
Quote:While tension over Iran has ratcheted up over the last few months, the price of oil and gasoline has leaped far beyond conventional supply and demand variables. Financial speculators are piling into the market, torquing the Iranian fear factor into ever-higher prices.
"Speculation is now part of the DNA of oil prices. You cannot separate the two anymore. There is no demarcation," said Fadel Gheit, a 30-year veteran of energy markets and an analyst at Oppenheimer & Co. "I still remain convinced oil prices are inflated."
Some people like to call this ( ahem) "the invisible hand of the market" and pretend that it is a good thing.
I call it price gouging and corruption.
Take a few of the oil speculators out into Central Park and put a bullet in the back of their heads and see how fast the rest of them fall into line.
