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According to St. Louis Fed economists Luciana Juvenal and Ivan Petrella, speculation in oil markets was the second-biggest factor behind the past decade's price run-up, behind increased global demand for oil, which accounted for 40 percent of the increase.
"Speculation was the second-largest contributor to oil prices and accounted for about 15 percent of the rise," the economists wrote. "The effect that speculation had on oil prices over this period coincides closely with the dramatic rise in commodity index trading -- resulting in concerns voiced by policymakers."
Originally posted by OutKast Searcher
Great thread and explanation.
But you have to understand that the target audience you are trying to reach is not logical and doesn't care about facts. They have an irrational hate for Obama.
If anything, they will use this information to try to claim that Obama has raised the gas prices world wide. Honestly...I bet someone claims that somewhere in this thread.
Reducing Dependency by Increasing Cost.
Yes 2007 — Before the “SKY ROCKET” remark!
Originally posted by Insearchofthetruth1987
roflmao
you americans getting all jumpy from "gas" prices hitting $4 a gallon
im british and its double that here!
we pay mega super hyper tax on it though...
maybe you guys should hire european/asian engineers at your car plants
why have big beasty v8 that weighs 4 tonnes and barely hits 100mph???
maybe if your cars were more efficient you wouldnt give a damn about prices
you guys got it good just use your head and drive an import
if you guys drive more efficient cars
then you buy less gas
then obama can tax it more without a fuss
then your country can pay its damn debt!!
until thats payed you are a financial apocolypse waiting to happen
I find it funny how this thread gets no attention.
Originally posted by marg6043
reply to post by Blackmarketeer
I did said in bold letters that it hinted no that it said, while talking about energy cost and how people react to price increases.
Originally posted by dragonridr
reply to post by Blackmarketeer
These stimulus packages and the fed devalued the dollar making gas more expensive.