Report: Oil Speculation Is Jacking Up Gas Prices Dramatically

[Bill USA]

http://chicago.cbslocal.com/2011/06/28/report-oil-speculation-is-jacking-up-gas-prices-dramatically/

AMHERST, Ma. (CBS) — Some University of Massachusetts Amherst professors have authored a study for the Public Interest Research Group, which concludes that speculation in the oil futures market is having a big impact on prices at the pump.

As WBBM Newsradio 780′s Mike Krauser reports, the report says a decade ago, speculators controlled less than 30 percent of the oil futures market.

Today, they control more than 70 percent.

The result, the report says, is that consumers are paying about 80 cents more than they should be paying for a gallon of gas.
(more)

[msongs]

1. let's speculate on what should be done with speculators....list your ideas. mine is

well I can't really say as it might be illegal under the laws the speculators had their congressional prostitutes write

[Donnachaidh]

2. no shit -- we went from $3.08 to $3.39 in two DAYS.

I'd love to string some of these speculators up by their private parts over a piranha pool. :grr:

[Rageneau]

3. My idea continues to be the guillotine.

First, we should show it to these speculators. If that doesn't work, we can practice with it a little.

[Name removed]

4. Deleted message

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