Re: I'm being robbed!!!!!

Posted by free2ride on Feb 16, 2013; 3:59am
URL: http://vintage-and-classic-hondas.81.s1.nabble.com/I-m-being-robbed-tp4036653p4036682.html

Lucky 1 wrote

Obama is not causing the price of gas to increase.
Obama has nothing to do with it.

There are businessmen speculating on the price of gas.
Listen to the stock market reports when the radio announcer
says the price of oil went up, with glee in his voice!

here's an explanation:

The rapid and unusual rise in gas prices at this time of  year is the direct result of hedge funds from Wall Street to London amassing positions on literally millions of barrels of oil and gasoline. Any quick read of fundamentals shows the global economy is well supplied and demand stable. Yet concerns about a shortage of cheap blending components, needed for summer grade fuel, has commodity hedgers betting massively, without position limits, that prices will head up. The sheer size of their over-leveraged bets and positions based on rumour rather than fact, makes higher prices a sure bet. Its a nauseating and reckless repeat of the 2008 energy superbubble which threatens to disrupt the global economy, not to mention a swift kick in the pants to consumers who pay for these price distortions.