Republicans Refuse to Tell the REAL Story Behind the Continous Rising Prices at the Gas Pump… They Know.

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Republicans Refuse to Tell the REAL Story Behind the Continous Rising Prices at the Gas Pump… They Know.

March 20th, 2012

FAKE NEWS for the Zionist agenda

gas-prices2

Gas
prices continue to rise, which is finally giving Republicans an issue.
Mitt Romney is demanding the President open up more domestic drilling;
the super PAC behind Rick Santorum just released a new ad in Louisiana
blasting the President on gas prices; and the GOP is attacking the White
House on the Keystone XL Pipeline. ~ Robert Reich – See MyTwoCents and related articles

The rise in gas prices has almost nothing to
do with energy policy. It has everything to do with America’s continuing
failure to adequately regulate Wall Street. Don’t hold your breath
waiting for Republicans to tell the truth.

As I’ve noted before, oil supplies aren’t being
squeezed. Over 80 percent of America’s energy needs are now being
satisfied by domestic supplies. In fact, we’re starting to become an
energy exporter.

Demand for oil isn’t rising in any event. Demand is
down in the U.S. compared to last year at this time, and global demand
is still moderate given the economic slowdowns in Europe and China.

Wall Street is betting on higher oil prices
in the future — and that betting is causing prices to rise. The Street
is laying odds that unrest in Syria will spill over into other countries
or that tensions with Iran will affect the Persian Gulf, and that
global demand will pick up as American consumers bounce back to life.

These bets are pushing up oil prices because Wall
Street firms and other big financial players now dominate oil trading.

Financial speculators historically accounted for
about 30 percent of oil contracts, producers and end users for about 70
percent. Today speculators account for 64 percent of all contracts.

Bart Chilton, a commissioner at the Commodity
Futures Trading Commission — the federal agency that regulates trading
in oil futures, among other commodities — warns that too few financial
players control too much of the oil market.

This allows them to push oil
prices higher and higher — not only on the basis of their expectations
about the future but also expectations about how high other speculators
will drive the price.

In other words, a relatively few players with
very deep pockets are placing huge bets on oil — and you’re paying.

Chilton estimates that drivers of small cars like
Honda Civics are paying an extra $7.30 every time they fill up — and
that money is going into the pockets of Wall Street speculators. Drivers
of larger vehicles like the Ford Explorer are paying speculators $10.41
when they fill up.

Funny, but I don’t hear Republicans rail against
Wall Street speculators. Could this have anything to do with the fact
that hedge funds and money managers are bankrolling the GOP as never
before?

Wall Street isn’t bankrolling Democrats nearly as
much this time around because the Street is still smarting from the
Dodd-Frank Wall Street reform law pushed by the Democrats, and from the
president’s offhand remark in 2010 calling the denizens of the Street
“fat cats.”

The Commodity Futures Trading Commission is
trying to limit how much speculators can bet in oil futures — a power it
was given by Dodd-Frank. It issued a rule in October, but it won’t take
effect for another year.

Meanwhile, Wall Street has gone to court to stop the rule. It’s already won a stay.

As rising gas prices start wagging the
election-year dog, the President should let America know what’s really
causing prices to rise.

Robert Reich – March 16, 2012 – InformationClearingHouse

~~~~~

There is no shortage of oil… if there were our military would be
home protecting our country… Obama and staff would be rowing boats across the ocean to bother
people, and travelling everywhere else by bicycle or horse… Michelle and
‘attendents’ would be vacationing by donkey and cart. I don’t see this
happening.

Thanks for reading…

SadInAmerica

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