It's short and not so sweet. Oil speculators are trying to make a quick buck, buying and selling crude oil futures in the world markets, and they're driving up the price up gasoline and heating oil for all of us.
By as much as 40%.
Let's say, round numbers, at least $1 of what you're paying for every gallon of gasoline is going into the pockets of wealthy high rollers, hedge fund traders and financial speculators who are manipulating the markets…in some cases illegally…....often by betting other people's money while they take a profitable slice on the trading.
Here's a recent explanation.
These folks are getting away with it because oil futures trading and other murkier ways to speculate in financial markets are
still too poorly regulated to prevent such large scale abuse.
You know the kinds of folks who brought us the housing bubble that ruined millions of homeowners, and the derivatives trading that ruined big banks and brokerage houses, and the financial meltdown and recession that are still hurting all of us? They're still doing it.....
No comments:
Post a Comment