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Originally posted by Blackmarketeer
JP Morgan and Goldman Sachs alone have nearly 300 millions barrels stashed away aboard rented supertankers, just to keep prices elevated.
Originally posted by Drew99GT
Originally posted by SkyMuerte
You can no more blame just Obama, or just Speculators, or just Bush, or just Goldman Sachs, or just Anyone Else for this mess anymore than you can blame a single cancer cell for killing you.
The mess is systemic. The patient is dying and all the doctors are out golfing.......
You know what? There's more truth in your post than any post in this thread. The system is BROKEN and every last corrupt actor is scrambling for the crumbs that remain of the US's economic pie.
WASHINGTON -- Americans are paying for $4-a-gallon gasoline because Wall Street "casinos" have blocked regulators from cracking down on rampant oil speculation, finance experts argued on Capitol Hill Wednesday.
In an effort to counter Republican claims that gas prices are high because the Obama administration does not allow enough drilling, House Democratic leaders staged a hearing featuring former Reagan and Clinton administration oil and trading analysts who blame the surge on speculation.
And the vast profits from that speculation do not go into developing more oil or creating jobs, the analysts argued.