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One article that breaks down what I'm saying
YouTube - ‪Banks Behind High Gas Prices?‬‏
If you are too lazy to click that one link, here's a play-by-play;
The masters of deception and thievery, Goldman Sachs:
Long-term commodity bull Goldman Sachs (GS.N) warned clients on Monday to lock-in trading profits before oil and other markets reverse, with the bank's estimates suggesting speculators are boosting crude prices as much as $27 a barrel.
Article
Goldman spooks oil speculators with call to take profit | Reuters
And then we go to the lack of regulation of over-the-counter trades. After the yoyo-ing of gas prices in '07 and '08, investigators found that 81% of gas contracts on the New York Mercantile Exchange were in the hands of speculators, 11% were in the hand of just one company. This is obviously a Very Bad Thing.
The article that goes in detail on this is available here fyp:
Oil Speculators: Manipulative Evil Masterminds or Just Savvy Investors? - DailyFinance
Washington Post article on what the investigators found:
A Few Speculators Dominate Vast Market for Oil Trading - washingtonpost.com
 Originally Posted by wufwugy
Originally Posted by Numbr2intheWorld
I didn't read the article but this is absolutely not true. Oil Speculators actually help keep oil prices as close to their fair value as possible and allow Gas companies to hedge their risk. Speculators are keeping prices down. If we didn't have them you'd Oil prices fluctuate rapidly to the point where Gas companies would have to always overcharge in order to not get screwed.
Okay I really wanna read a source/explanation on this
This +1, as the kids nowadays say
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