Is Oil Speculation Responsible for High Gas Prices?

Is Oil Speculation Responsible for High Gas Prices?

As Americans watch their wallets empty as quickly as gas prices climb, we all search for answers. Some experts say the seemingly endless rise in gas prices is being driven largely by oil speculation, the practice of buying and trading oil futures -- in an attempt to predict the cost of oil at a later date. Should you blame speculation for your pain at the pump?

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Regarding Argument
If Fundamentals Did Not Change, We Have to Find What Did
- From Consumer Federation of America
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By Consumer Federation of America - Advancing Pro-Consumer Policy
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  • Hal 84
    The ups and now downs

    How is it possible for us to now only pay $1.70 for gas but we had to pay $4.40 a few months ago?

    Same thing in grains. They paid farmers 3.50- then the board prices shot up to $7. The corn price is back to its former level.

    The real unfortunate thing for farmers is that production input prices went up at even a higher speed and have remained stuck there making a profitable 2009 problematic.

    All the goodies you bought for Christmas were delivered to their respective stores with the high priced diesel fuel- hard to reduce the selling price of merchandise.

    Wheat also had its ups and downs in price. There are only a few cents worth of wheat in a loaf of bread. Price of "whole grain" breads remains close to $4.00 per loaf.

    What happens next with a recession?

    Hal 84


    - Hal 84US December 25, 2008 10:58AM

    Reply to this Recommend (0) Icon flag Side: Yes

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Speculation = High Gas Prices?

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  • NYMEX
    New York Mercantile Exchange

    The New York Mercantile Exchange, Inc., is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious... More

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