Certainly everyone is aware of the price of gas and it is time that someone is held accountable for it. President Obama has asked the Justice Department to look at this and see that there is no price gouging or collusion among the companies to keep the price artificially high. I suspect they will come back and say all is well and it is just supply and demand causing the problem.
That is so obviously not true that anyone should be able to spot it.
We currently have gas at around 4 dollars a gallon with oil having hit a high of a bit over 100 dollars a barrel. In 2008 gas prices were not very much higher than they are now with the price of oil going over 130 dollars a barrel.
It would appear that the groups that are buying futures have decided to manipulate the price of gas by running up gas futures rather than oil futures as they did in 2008.
Hopefully the Justice Department will actually help out the citizens of this country this time rather than just blowing smoke and pretending it didn’t happen so as to not offend political contributors.
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