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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

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ty58 Veteran Author Akron Posts:320 Points:484,530 Joined:Jun 2011	Message Posted: Feb 22, 2012 11:01:25 PM Ignore ty58 Report Abuse if we are doing so much exporting why is congress making such a big deal about us not letting the canada pipe line in do we really need it
oaktowner Champion Author San Francisco Posts:15,249 Points:2,911,660 Joined:Apr 2005	Message Posted: Feb 22, 2012 10:59:17 PM Ignore oaktowner Report Abuse 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:2,882 Points:1,046,440 Joined:Feb 2006	Message Posted: Feb 22, 2012 10:58:55 PM Ignore kst8er Report Abuse Get rid of the greedy writers talking about how prices are going to go up and see what happens
LegoVasavouchi Champion Author Oklahoma Posts:1,659 Points:114,390 Joined:Apr 2011	Message Posted: Feb 22, 2012 10:55:25 PM Ignore LegoVasavouchi Report Abuse Fascinating.
nvwarped All-Star Author Corpus Christi Posts:893 Points:454,500 Joined:Sep 2011	Message Posted: Feb 22, 2012 10:51:55 PM Ignore nvwarped Report Abuse ok
BKool Champion Author Michigan Posts:5,258 Points:1,899,330 Joined:Aug 2005	Message Posted: Feb 22, 2012 10:51:42 PM Ignore BKool Report Abuse Uncertainty is a bigger factor than speculators.
Ray_10589 Champion Author New York Posts:4,946 Points:1,182,985 Joined:May 2009	Message Posted: Feb 22, 2012 10:49:33 PM Ignore Ray_10589 Report Abuse OK cmsense ...
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Feb 22, 2012 10:46:48 PM Ignore cmsense Report Abuse 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 Posts:3,553 Points:906,090 Joined:Aug 2005	Message Posted: Feb 22, 2012 10:46:17 PM Ignore WillyG Report Abuse 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 Posts:7,365 Points:1,857,730 Joined:Mar 2006	Message Posted: Feb 22, 2012 10:44:30 PM Ignore woodeye55 Report Abuse I am totally shocked. I always thought prices were generated by the Magic 8 Ball.
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Feb 22, 2012 10:44:22 PM Ignore mstearno Report Abuse speculators live in IRAN??? gmafb
a_lu_vasile Champion Author Maryland Posts:1,254 Points:776,200 Joined:Jul 2008	Message Posted: Feb 22, 2012 10:44:02 PM Ignore a_lu_vasile Report Abuse Hmmmmmmmm...really!?
gd83goldwinger Champion Author South Bend Posts:1,428 Points:504,230 Joined:May 2011	Message Posted: Feb 22, 2012 10:43:41 PM Ignore gd83goldwinger Report Abuse They need to grow a back bone and stop the speculators from controlling the prices.
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Feb 22, 2012 10:38:36 PM Ignore cmsense Report Abuse 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 Posts:3,448 Points:1,325,475 Joined:May 2007	Message Posted: Feb 22, 2012 10:38:33 PM Ignore gasokie Report Abuse 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 Posts:1,536 Points:324,370 Joined:Nov 2005	Message Posted: Feb 22, 2012 10:37:59 PM Ignore coke_kid Report Abuse 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 Posts:6,092 Points:1,374,815 Joined:Aug 2005	Message Posted: Feb 22, 2012 10:37:21 PM Ignore sjl08203 Report Abuse When willl we get some controls?
Kaiyne Champion Author Chicago Posts:2,339 Points:472,715 Joined:Feb 2011	Message Posted: Feb 22, 2012 10:35:37 PM Ignore Kaiyne Report Abuse No doubting this...
cateyes8264 Champion Author Tennessee Posts:2,957 Points:642,615 Joined:Jul 2011	Message Posted: Feb 22, 2012 10:35:25 PM Ignore cateyes8264 Report Abuse The EPA and speculators are what are killing our economy.
buckeyeman Sophomore Author Columbus Posts:244 Points:10,100 Joined:Mar 2005	Message Posted: Feb 22, 2012 10:33:31 PM Ignore buckeyeman Report Abuse Can not wait till the ENRON of the oil industry shows face.
B_550i All-Star Author Seattle Posts:720 Points:192,945 Joined:Aug 2011	Message Posted: Feb 22, 2012 10:33:27 PM Ignore B_550i Report Abuse Yuppppp
kymechanic All-Star Author Kentucky Posts:905 Points:573,790 Joined:Mar 2011	Message Posted: Feb 22, 2012 10:30:17 PM Ignore kymechanic Report Abuse 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 Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Feb 22, 2012 10:30:10 PM Ignore EmperorsFinest Report Abuse Way too much money...
FrankTA2 Champion Author New York Posts:4,293 Points:1,095,310 Joined:Jun 2007	Message Posted: Feb 22, 2012 10:26:02 PM Ignore FrankTA2 Report Abuse Speculators, big oil & the republicans in their pockets.
buckeyeman Sophomore Author Columbus Posts:244 Points:10,100 Joined:Mar 2005	Message Posted: Feb 22, 2012 10:25:16 PM Ignore buckeyeman Report Abuse Absolutely positively time for a class action lawsuit. Forty cent increase in 3 days here.
gmcgas Champion Author Atlanta Posts:5,953 Points:1,714,170 Joined:Mar 2004	Message Posted: Feb 22, 2012 10:21:37 PM Ignore gmcgas Report Abuse just stupid.
mtaboy Sophomore Author New Jersey Posts:191 Points:54,515 Joined:Dec 2004	Message Posted: Feb 22, 2012 10:21:21 PM Ignore mtaboy Report Abuse 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 Veteran Author Ontario Posts:252 Points:525,485 Joined:May 2010	Message Posted: Feb 22, 2012 10:19:32 PM Ignore Fute Report Abuse Greed is ...Leading to higher prices.
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Feb 22, 2012 10:18:11 PM Ignore tippybuddy Report Abuse isn't it always the speculators that raises our prices...the stock markets are killing us
ericbcire Champion Author Nevada Posts:4,520 Points:1,267,235 Joined:Aug 2009	Message Posted: Feb 22, 2012 10:16:05 PM Ignore ericbcire Report Abuse 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 Posts:3,854 Points:2,265,715 Joined:Aug 2005	Message Posted: Feb 22, 2012 10:15:26 PM Ignore hcivic Report Abuse ok
sillywagon Champion Author New York Posts:14,883 Points:1,440,370 Joined:Oct 2008	Message Posted: Feb 22, 2012 10:13:38 PM Ignore sillywagon Report Abuse 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 Posts:2,577 Points:600,320 Joined:Apr 2006	Message Posted: Feb 22, 2012 10:11:07 PM Ignore bevmill Report Abuse ok
The_DR Champion Author New Jersey Posts:2,785 Points:585,065 Joined:Aug 2011	Message Posted: Feb 22, 2012 10:10:42 PM Ignore The_DR Report Abuse How much does a speculator make?
sosgas All-Star Author Portland Posts:885 Points:458,690 Joined:Feb 2009	Message Posted: Feb 22, 2012 10:09:18 PM Ignore sosgas Report Abuse Gas prices must be under Government control .
katmandue Champion Author Detroit Posts:8,071 Points:2,134,120 Joined:Jul 2006	Message Posted: Feb 22, 2012 10:08:17 PM Ignore katmandue Report Abuse Refinery shutdowns just raise to prices.
DrCashFlow Champion Author Massachusetts Posts:7,064 Points:1,627,125 Joined:Jun 2008	Message Posted: Feb 22, 2012 10:05:40 PM Ignore DrCashFlow Report Abuse Refinery shutdowns all over the place don't help
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Feb 22, 2012 10:05:29 PM Ignore MadTraveler Report Abuse Tired of all this - - - -
Bleeder Champion Author Virginia Posts:8,038 Points:1,699,625 Joined:Jan 2008	Message Posted: Feb 22, 2012 10:03:57 PM Ignore Bleeder Report Abuse Until we get them under control this rollercoaster ride will never end.
hoffbeck20 Veteran Author Minnesota Posts:283 Points:63,095 Joined:Dec 2011	Message Posted: Feb 22, 2012 10:03:06 PM Ignore hoffbeck20 Report Abuse Its rising because of scarcity
lowpet All-Star Author Texas Posts:527 Points:86,915 Joined:Dec 2008	Message Posted: Feb 22, 2012 10:02:13 PM Ignore lowpet Report Abuse 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:1,714 Points:620,770 Joined:May 2011	Message Posted: Feb 22, 2012 9:59:36 PM Ignore LSU_TIGERS_dmb Report Abuse 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 Posts:3,585 Points:708,360 Joined:Jun 2011	Message Posted: Feb 22, 2012 9:56:33 PM Ignore IUVidiot Report Abuse you think
blitzntj Champion Author Jacksonville Posts:4,679 Points:944,080 Joined:Dec 2007	Message Posted: Feb 22, 2012 9:49:55 PM Ignore blitzntj Report Abuse Whatever...screwed either way
Thomtec Champion Author Nashville Posts:2,464 Points:608,145 Joined:May 2011	Message Posted: Feb 22, 2012 9:46:58 PM Ignore Thomtec Report Abuse 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 Posts:1,449 Points:1,827,215 Joined:May 2006	Message Posted: Feb 22, 2012 9:43:56 PM Ignore Bagtag Report Abuse Shoot 'em all! Let God sort 'em out!
hank1326 Champion Author Los Angeles Posts:8,909 Points:1,733,585 Joined:Jun 2008	Message Posted: Feb 22, 2012 9:43:16 PM Ignore hank1326 Report Abuse Huge ditto to DustyHorse. The current administration is too busy with their own agenda and re-election campaign.
camaro_man Champion Author Kitchener-Waterloo Posts:2,231 Points:611,025 Joined:Jun 2010	Message Posted: Feb 22, 2012 9:43:12 PM Ignore camaro_man Report Abuse wow
OilBGone Champion Author New Jersey Posts:9,069 Points:1,714,430 Joined:Jul 2008	Message Posted: Feb 22, 2012 9:41:59 PM Ignore OilBGone Report Abuse Gascapade too.
craigsfrank Champion Author Arkansas Posts:2,198 Points:840,430 Joined:Jun 2010	Message Posted: Feb 22, 2012 9:39:22 PM Ignore craigsfrank Report Abuse Idiots, all of them!
txkrb Champion Author Texas Posts:1,560 Points:638,705 Joined:May 2011	Message Posted: Feb 22, 2012 9:39:03 PM Ignore txkrb Report Abuse 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 Posts:9,069 Points:1,714,430 Joined:Jul 2008	Message Posted: Feb 22, 2012 9:37:56 PM Ignore OilBGone Report Abuse kobes1 has hit it on the head! (But his targets didn't feel it; their skulls are too thick).