Once again, speculators behind sharpl...

Once again, speculators behind sharply rising oil and gasoline prices

There are 1 comment on the McClatchy story from Feb 21, 2012, titled Once again, speculators behind sharply rising oil and gasoline prices. In it, McClatchy reports that:

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.

Join the discussion below, or Read more at McClatchy.

Dwight Baker

Eagle Pass, TX

#1 Feb 22, 2012
Beware of those that bet against their own

By Dwight Baker

[email protected]

February 22, 2012



ARTICLE

Once again, speculators behind sharply rising oil and gasoline prices



Read more here: http://www.mcclatchydc.com/2012/02/21/139521/...



By Kevin G. Hall | McClatchy Newspapers

Kevin G. Hall McClatchy Newspapers

EXCERPT
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.



On Tuesday, oil rose past $106 a barrel and gasoline averaged $3.57 a gallon thanks again in no small part to rampant financial speculation on top of fears of supply disruptions.



The ostensible reason for the climb of crude prices on the New York Mercantile Exchange, where contracts for future delivery of oil are traded, is growing fear of a military confrontation with Iran in the Persian Gulf's Strait of Hormuz, through which 20 percent of the world's oil passes.



MY TAKE

Betting against your own is not only immoral but I suggest that once digging to the bottom of the heap of those investors doing so we will find Big Oil and Gas guys as insiders betting big bucks to enhance their own wealth. But think about that for just a minute what if those Big Oil and Gas guys can swing policies and politicians and our own warmongers to do their bidding to again enhance their bet --- if so --- that in my terms of understanding would be called insider trading and might be proved out to be Treason!



Well, if all of that might be true what else can our leader do but to put an alarm out to our Justice Department to begin digging for the real dirt hidden most of the time far away from public view?

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