Why Gas Prices Are So High at the Pumps!!!!!Posted: March 28, 2012
As this article explains, the price of gas at the pumps is high because those that can control its supply, (members of the oil and gas industry for example), are hoarding the oil in the supply lines to drive up the price of oil. They fool the world into thinking oil is in scarce supply and sell oil for future delivery at high prices. This type of an arrangement is called a “futures contract” and these contracts are traded on the commodities markets. Once they have sold enough oil on future contracts (where they have sold oil for a very high, but artificially inflated, amount), they flood the market to drive down the price of oil. They then deliver the oil on their futures contracts by purchasing oil at a very cheap price.
This article explains how this is indeed going on and that the United States is actually a net EXPORTER of oil. The pipelines through our nation won’t add a bit to the reduction in the price of gasoline.
Interestingly, Obama has put pressure on the Justice Department to see if this type of trading can be stopped under existing laws.
Check out this article from Real News at http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=8131