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Speculators blamed for rising oil, gas prices

The Seattle Times -- U.S. demand for oil and refined products — including gasoline — is down sharply from last year, so much that the United States has become a net exporter of gasoline, unable to consume all it makes.

Yet oil and gasoline prices are spiraling upward.

The price of oil topped $106 a barrel and a gallon of regular unleaded gasoline averaged $3.57 a gallon Tuesday — thanks again in no small part to rampant financial speculation on top of fears of supply disruptions.


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Submitted Feb 22, 2012 By: EVH_1984
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Speculators blamed for rising oil, gas prices Back to Topics
REPLIES (newest first) Post a Reply
oaktowner
Champion Author San Francisco

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Message Posted: Feb 22, 2012 10:59:17 PM

since the u.s. exports gas now, there is no need for the keystone pipeline. u.s doesn't need the gas. the pipeline is only to export canadian oil...
kst8er
Champion Author St. Louis

Posts:5,026
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Message Posted: Feb 22, 2012 10:58:55 PM

Get rid of the greedy writers talking about how prices are going to go up and see what happens
LegoVasavouchi
Champion Author Oklahoma

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Message Posted: Feb 22, 2012 10:55:25 PM

Fascinating.
nvwarped
Champion Author Corpus Christi

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Message Posted: Feb 22, 2012 10:51:55 PM

ok
BKool
Champion Author Michigan

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Message Posted: Feb 22, 2012 10:51:42 PM

Uncertainty is a bigger factor than speculators.
Ray_10589
Champion Author New York

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Message Posted: Feb 22, 2012 10:49:33 PM

OK cmsense ...
cmsense
Champion Author Columbus

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Message Posted: Feb 22, 2012 10:46:48 PM

Change the rules back on speculators to what they performed their business prior to 2000, and force them to take delivery on their oil futures, and you'll see a significant decrease in crude prices.But don't believe me,go research the subject and how during the early Bush years of 2000's,the game was rigged to favor speculators.
WillyG
Champion Author Cincinnati

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Message Posted: Feb 22, 2012 10:46:17 PM

So if US has more than it can use, how come we're not lowering our gas prices, this way forcing OPEC to lower theirs if they want to sell us any.
woodeye55
Champion Author Gary

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Message Posted: Feb 22, 2012 10:44:30 PM

I am totally shocked. I always thought prices were generated by the Magic 8 Ball.
mstearno
Champion Author Dayton

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Message Posted: Feb 22, 2012 10:44:22 PM

speculators live in IRAN???
gmafb
a_lu_vasile
Champion Author Maryland

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Message Posted: Feb 22, 2012 10:44:02 PM

Hmmmmmmmm...really!?
gd83goldwinger
Champion Author South Bend

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Message Posted: Feb 22, 2012 10:43:41 PM

They need to grow a back bone and stop the speculators from controlling the prices.
cmsense
Champion Author Columbus

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Message Posted: Feb 22, 2012 10:38:36 PM

I'd be the absolute LAST supporter of Repugs, but unfortunately BOTH Parties are bought and sold by BIG OIL!!!!!!
Until you have election reform, and publicly financed elections you'll never get a handle on these Wall St.Speculators and the cash they're stuffing in campaign coffers of both Parties!!!!!!!! While you're at it, there also needs to be a large hand placed around the throats of lobbyists and throttled down to the floor.THEN JUST MAYBE AMERICA WILL GET IT'S DEMOCRACY BACK.Until then you're just pissing down someone's back and telling them it's raining.
gasokie
Champion Author Oklahoma

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Message Posted: Feb 22, 2012 10:38:33 PM

I keep seeing this: Speculators: Hyperventilation over something as simple as that. Gas is up but not because of speculators. If you want to write about a problem you need to study to see what it is first. If the world market is short on gasoline...it means gas is short and "speculators" who make it possible for refiners to even have a product...have to bid higher to get it. We live in a world commodity market and you need to understand that simple fact ... blaming "speculators" who buy these products is like blaming a speedometer for going too fast. Capitalism, with all its faults has made America rich and it goes without saying that with it's problems, nothing has ever been found that works as good as it does.
coke_kid
Champion Author Chicago

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Message Posted: Feb 22, 2012 10:37:59 PM

up .30 cents at the pump tonight WTF! GREED N NO ONE IN GOV DOING ANYTHING TO HELP SO WE WILL CRASH AND FAST! NO JOBS AND INFLATION AND HUGE SPENDING N DEBT AT ALMOST 16 TRILLION.. GREAT HUH
sjl08203
Champion Author New Jersey

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Message Posted: Feb 22, 2012 10:37:21 PM

When willl we get some controls?
Kaiyne
Champion Author Chicago

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Message Posted: Feb 22, 2012 10:35:37 PM

No doubting this...
cateyes8264
Champion Author Tennessee

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Message Posted: Feb 22, 2012 10:35:25 PM

The EPA and speculators are what are killing our economy.
buckeyeman
Veteran Author Columbus

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Message Posted: Feb 22, 2012 10:33:31 PM

Can not wait till the ENRON of the oil industry shows face.
B_550i
All-Star Author Seattle

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Message Posted: Feb 22, 2012 10:33:27 PM

Yuppppp
kymechanic
Champion Author Kentucky

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Message Posted: Feb 22, 2012 10:30:17 PM

FrankTA2 at least you got the first half right!

[Edited by: kymechanic at 2/22/2012 10:30:47 PM EST]
EmperorsFinest
Champion Author Chicago

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Message Posted: Feb 22, 2012 10:30:10 PM

Way too much money...
FrankTA2
Champion Author New York

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Message Posted: Feb 22, 2012 10:26:02 PM

Speculators, big oil & the republicans in their pockets.
buckeyeman
Veteran Author Columbus

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Message Posted: Feb 22, 2012 10:25:16 PM

Absolutely positively time for a class action lawsuit.

Forty cent increase in 3 days here.
gmcgas
Champion Author Atlanta

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Message Posted: Feb 22, 2012 10:21:37 PM

just stupid.
mtaboy
Sophomore Author New Jersey

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Message Posted: Feb 22, 2012 10:21:21 PM

I've been saying the same thing for how long... Want gas to go down to $1.99 a gallon and stay there... Kill all the Greedy Speculators and this will happen... and fast...
Fute
All-Star Author Ontario

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Message Posted: Feb 22, 2012 10:19:32 PM

Greed is ...Leading to higher prices.
tippybuddy
Champion Author Ontario

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Message Posted: Feb 22, 2012 10:18:11 PM

isn't it always the speculators that raises our prices...the stock markets are killing us
ericbcire
Champion Author Nevada

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Message Posted: Feb 22, 2012 10:16:05 PM

Groundhog day is back. Last year, speculators were frantic about Libya, yet world supplies were never really affected. They'll use any excuse to fleece consumers.
hcivic
Champion Author Virginia

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Message Posted: Feb 22, 2012 10:15:26 PM

ok
sillywagon
Champion Author New York

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Message Posted: Feb 22, 2012 10:13:38 PM

And most politicians will ignore this problem. This problem has been ignored for several years. Either they financially benefit, or because of environmental marxism they want expensive energy. I wish it were limited to just one party, but it's not.

What we need is more conservatives, you know, people who don't want Americans to be serfs to the Government.

[Edited by: sillywagon at 2/22/2012 10:14:44 PM EST]
bevmill
Champion Author Georgia

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Message Posted: Feb 22, 2012 10:11:07 PM

ok
The_DR
Champion Author New Jersey

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Message Posted: Feb 22, 2012 10:10:42 PM

How much does a speculator make?
sosgas
Champion Author Portland

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Message Posted: Feb 22, 2012 10:09:18 PM

Gas prices must be under Government control .
katmandue
Champion Author Detroit

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Message Posted: Feb 22, 2012 10:08:17 PM

Refinery shutdowns just raise to prices.
DrCashFlow
Champion Author Massachusetts

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Message Posted: Feb 22, 2012 10:05:40 PM

Refinery shutdowns all over the place don't help
MadTraveler
Champion Author Idaho

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Message Posted: Feb 22, 2012 10:05:29 PM

Tired of all this - - - -
Bleeder
Champion Author Virginia

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Message Posted: Feb 22, 2012 10:03:57 PM

Until we get them under control this rollercoaster ride will never end.
hoffbeck20
Veteran Author Minnesota

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Message Posted: Feb 22, 2012 10:03:06 PM

Its rising because of scarcity
lowpet
All-Star Author Texas

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Message Posted: Feb 22, 2012 10:02:13 PM

Funny this was around in 2008 before the recession hit, we're barely out of it, and these people are back?!?! I say defund the EPA, i bet there behind of of this
LSU_TIGERS_dmb
Champion Author Louisiana

Posts:2,123
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Message Posted: Feb 22, 2012 9:59:36 PM

Obama needs to drill in USA and that will lower price od oil. Not keep high oil for his tree hugger friends
IUVidiot
Champion Author Indiana

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Message Posted: Feb 22, 2012 9:56:33 PM

you think
blitzntj
Champion Author Jacksonville

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Message Posted: Feb 22, 2012 9:49:55 PM

Whatever...screwed either way
Thomtec
Champion Author Nashville

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Message Posted: Feb 22, 2012 9:46:58 PM

Middle East unrest, speculators, exporting finished oil and gas products and a government headed by Obama that hates oil and gas ALL are to blame for the high prices that we pay here in the US.
Bagtag
Champion Author Georgia

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Message Posted: Feb 22, 2012 9:43:56 PM

Shoot 'em all!
Let God sort 'em out!
hank1326
Champion Author Los Angeles

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Message Posted: Feb 22, 2012 9:43:16 PM

Huge ditto to DustyHorse. The current administration is too busy with their own agenda and re-election campaign.
camaro_man
Champion Author Kitchener-Waterloo

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Message Posted: Feb 22, 2012 9:43:12 PM

wow
OilBGone
Champion Author New Jersey

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Message Posted: Feb 22, 2012 9:41:59 PM

Gascapade too.
craigsfrank
Champion Author Arkansas

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Message Posted: Feb 22, 2012 9:39:22 PM

Idiots, all of them!
txkrb
Champion Author Texas

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Message Posted: Feb 22, 2012 9:39:03 PM

Investors should be required to put up more cash to buy oil contracts etc
Currently it is less than .20 on the dollar
These is not investing it is just gambling
I believe day trading is gambling and not investing also
If you want to gamble go to Vegas or Atlantic City stay out of the commodities and stock markets
OilBGone
Champion Author New Jersey

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Message Posted: Feb 22, 2012 9:37:56 PM

kobes1 has hit it on the head! (But his targets didn't feel it; their skulls are too thick).
Gascapade
Champion Author Fort Worth

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Message Posted: Feb 22, 2012 9:36:32 PM

It's the height of utter absurdity to blame Obama for high oil prices when GOP paid puppets of Big Oil/Finance created crude oil commodity speculation and are blocking Democrat attempts to investigate and end it....
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