"Average U.S. gas prices hover at record-high levels"

[joeydb]

Obama would "prefer a more gradual transition" as he has said himself, but he's just fine and dandy with high gas prices. You guys have to break your "addiction to oil" ... you know, get a 12 step program to convince your internal combustion engine to run off of windmills, rainbows, and happy thoughts.

[Honu]

money.howstuffworks.com/oil-speculation-raise-gas-price.htm

THis is pretty good explination of why gas prices get so out of whack and the jackwagons that are to blame.

[Rudeboyelvis]

From Honu's link:

>>>Investment firms that can influence the oil futures market stand to make a lot; oil companies that both produce the commodity and drive prices up of their product up through oil futures derivatives stand to make even more. Investigations into the unregulated oil futures exchanges turned up major financial institutions like Goldman Sachs and Citigroup. But it also revealed energy producers like Vitol, a Swiss company that owned 11 percent of the oil futures contracts on the New York Mercantile Exchange alone [source: Washington Post].<<<



They get to take an enormous stake in oil, then make up whatever value they want to assign to that stake by issuing unsubstantiated values to futures derivatives and letting the "free" market trade those. LOL..

[jms62]

Originally Posted by Rudeboyelvis

From Honu's link:

>>>Investment firms that can influence the oil futures market stand to make a lot; oil companies that both produce the commodity and drive prices up of their product up through oil futures derivatives stand to make even more. Investigations into the unregulated oil futures exchanges turned up major financial institutions like Goldman Sachs and Citigroup. But it also revealed energy producers like Vitol, a Swiss company that owned 11 percent of the oil futures contracts on the New York Mercantile Exchange alone [source: Washington Post].<<<



They get to take an enormous stake in oil, then make up whatever value they want to assign to that stake by issuing unsubstantiated values to futures derivatives and letting the "free" market trade those. LOL..

Makes you wonder how Lawmakers bought into this idea

[geeker2]

$4.36/gal and climbing

[Rileyoriley]

Originally Posted by geeker2

$4.36/gal and climbing

Gas is obviously not in the"free stuff" catagory.

[geeker2]

Originally Posted by Rileyoriley

Gas is obviously not in the"free stuff" catagory.

http://www.youtube.com/watch?v=g_rFYbQJBTg