Share on Google Plus Share on Twitter 6 Share on Facebook 5 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 3 (14 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   6 comments
OpEdNews Op Eds

The real reasons for high gasoline prices

By       Message Gregory Patin     Permalink
      (Page 3 of 4 pages) Become a premium member to see this article and all articles as one long page.
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; , Add Tags  (less...) Add to My Group(s)

Must Read 1   Well Said 1   Supported 1  
View Ratings | Rate It Headlined to H2 3/29/12


These limits have not yet been implemented by the CFTC because a conservative majority on the CFTC has refused to implement a mandate from the Dodd-Frank Wall Street reform bill to close oil trading loopholes and provide more transparency. While CFTC Chairman (and former Goldman Sachs executive) Gary Gensler has spoken publicly of trying to close loopholes, enforcement of the Dodd-Frank bill remains non-existent.


In a recent column for the Huff Post, Senator Bernie Sanders of Vermont stated that the CFTC doesn't "have the will" to enact these limits and "needs to obey the law." He adds, "What we need to do is"limit the amount of oil any one company can control on the oil futures market. The function of these speculators is not to use oil but to make profits from speculation, drive prices up and sell." (See video in the original posting here).


The bottom line is that consumers are paying more at the gas pump because of futures trading on Wall Street, inadequate regulation of the oil market and the ability of speculators to drive gasoline prices up every time the drums of war beat in the Middle East. With access to "easy oil" supplies dwindling and new supply sources becoming increasingly more difficult and costly to extract, all possible measures must be taken immediately to keep prices down.


The moment it becomes clear that the Obama administration is serious about market reforms and acts to prevent wars in the Middle East by pursuing diplomatic channels, the price of oil will plunge. Until then, the top 1% will be laughing all the way to the bank at the expense of the other 99%.



Read more here:


Madison Independent Examiner

Madison Gasoline Prices

Forbes - Robert Lenzner

Madison Independent Examiner - $4 per gallon gasoline, contango and Koch

Next Page  1  |  2  |  3  |  4


- Advertisement -

Must Read 1   Well Said 1   Supported 1  
View Ratings | Rate It
Gregory Patin is a free-lance writer residing in Madison, WI. He earned a BA in political science from the University of Wisconsin - Madison and a MS in IT management from Colorado Tech. He is politically independent and not affiliated with either (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting
/* The Petition Site */
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Ron Paul factor in the GOP's defeat

14 defining characteristics of fascism: The U.S. in 2012

The real unemployment rate in the U.S.

Psychotropic medications and school shootings: Preventing another Sandy Hook

9/11 official story doubts becoming more mainstream

U.S. casualties in Afghanistan September 2012: A closer look