I know it sounds like a conspiracy theory, but I wouldn’t be at all surprised if someone is manipulating gas prices in order to hurt Obama.
UPDATE: Meanwhile, the public is not sure whom to blame for high gas prices. I know who is to blame for that — the media for failing to talk about speculation, the same problem that caused the housing bubble. Don’t we ever learn?
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Considering the Koch brothers are oil billionaires, that theory is not far fetched.
Conspiracy theories wouldn’t get anywhere if there weren’t true conspiracies.
The news I’ve seen has addressed the speculation issue, but they keep repeating that it is insignificant to the price of gas. Maybe it’s a conspiracy?
So how much will the Publican strategy of drilling and drilling and drilling do to reduce the price of gas at the pump? Very little. Check out what recent studies are showing.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/21/MNE51NO6PT.DTL
Do speculators increase the price at the pump? According to one member of the Commodity Futures Trading Commission believes (from the AP through the San Francisco Chronicle), “How big is that premium? One of the trading commission’s five members estimated last month that speculative investors were adding 56 cents to the price of each gallon of gas. As a result, Honda Civic drivers pay an additional $7.39 per fill-up, said Commissioner Bart Chilton. Owners of the Ford F150 pickup pay an extra $14.56.” You might want to read that story, too, at: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/07/BUQ81NHHPQ.DTL
Do I think there are actions being taken to raise the price at the pump to make Obama look bad? Maybe, but I’m pretty sure there is manipulation going on to roll more cash into the hands of big oil.
Now, check into what a thorium reactor is and explain why there isn’t a massive move to build them.
I recently read somewhere that speculation is the second-most powerful influence on the price of gas (15% of total cost), with worldwide demand increases #1 at 40%. Speculation is a problem, and restricting it would help prices.