Better Markets' Dennis Kelleher posted article on MONEY.CNN.COM laying the blame for high gasoline prices squarely on SPECULATORS. He estimates they account for 70% of the "action" in commodities/futures trading!
I suspect that the oil companies support this as a "win-win-win" situation: higher gasoline prices make more money for them, plus they dampen the economy to help GOP cronies corral displeasure for Obama and thus win in the presidential election!
Thursday, March 22, 2012
Thursday, March 1, 2012
Oil interests are the REAL BAD GUYS
Reuters gets it half-right: *real* villains are oil companies who sit mute while prices rise, knowing they are in for another $10 BILLION PROFIT quarter, stealing that last dollar out of workers' pockets!!
Also, voter unhappiness helps their GOP cronies to win in November!!
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"Right now, oil speculators are cynically exploiting fears relating to U.S. and European efforts to prevent Iran from getting nuclear weapons," said Edward Markey, a Massachussetts Democrat, at a news conference on Wednesday.
Rising gasoline prices have become a hot issue ahead of the presidential election in November. Republicans want to tap into voter anger about prices as a way to criticize President Barack Obama's energy policies.
Also, voter unhappiness helps their GOP cronies to win in November!!
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"Right now, oil speculators are cynically exploiting fears relating to U.S. and European efforts to prevent Iran from getting nuclear weapons," said Edward Markey, a Massachussetts Democrat, at a news conference on Wednesday.
Rising gasoline prices have become a hot issue ahead of the presidential election in November. Republicans want to tap into voter anger about prices as a way to criticize President Barack Obama's energy policies.
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