March 19, 2012

Limit Wall Street Oil Speculation to Cut Gas Prices

Mijin Cha, Demos


wallsto

One of few clear-cut ways to decrease gas prices is to reel in Wall Street speculation. Wall Street speculation drives up oil prices because it distorts the perception of oil supply. In response to increasing tensions in the Middle East, Wall Street speculators are hoarding crude oil contracts, expecting that they will increase in price when (or if) the oil supply is disrupted and can be sold at a later time for profit. In response, the price of oil per barrel shoots up because of a perceived decrease in supply, hence the high gas prices now. . .

Read Full Article ››

TAGGED: Wall Street, Oil Speculation, Global Oil Market, Oil Prices, Oil, Gas Prices, Demos

RECOMMENDED ARTICLES

October 17, 2013
From Peak Oil to Fossil Fuel Euphoria
Michael Klare, OilPrice.com
For years, energy analysts had been anticipating an imminent decline in global oil supplies. Suddenly, they’re singing a new song: Fossil fuels growing scarce? Don’t even think about it! The news couldn’t be better:... more ››
October 17, 2013
Oil Prices Would Skyrocket w/out U.S. Shale
James Clad, The Hill
Unheralded and unnoticed, American oil producers are helping stabilize global oil prices, which would be a lot higher if new U.S. oil supply, mostly from shale, weren’t reaching world markets. . . more ››
October 16, 2013
Your Early Christmas Present: Low Gas Prices
Matt Smith, Energy Burrito
Let’s end at the beginning: retail gasoline prices are going to continue to head lower, and this post simply presents the case as to why, through some simple visuals. But before we do that, here are some reasons as... more ››
October 15, 2013
Will Gas Prices End the Year Below $3 per Gallon?
Jeff Macke, Yahoo
According to David Lutz of Stifel, Nicolaus & Company, consumers are going to get a big boost to their wallets before the end of the year — and the source could surprise you. According to Lutz, the Environmental... more ››
October 21, 2013
Oil Supply Vulnerable 40 Years After Embargo
Wendy Koch, USA Today
In 1973, Archie Bunker's All in the Family topped TV rankings and Tony Orlando's Tie a Yellow Ribbon 'Round the Ole Oak Tree led Billboard charts. On the economic front, the United States depended heavily on foreign oil. . . more ››