April 7, 2010

WHICH IS WHY GAS PRICES AREN'T INFLATION INDICATORS:

What's driving up oil prices again? Wall Street, of course (Kevin G. Hall, 4/01/10, McClatchy Newspapers)

Oil consumption has fallen, demand from U.S. motorists for gasoline is flat at best and refiners that turn crude into fuel are operating well below capacity. Yet oil prices keep marching toward $90 a barrel, pushing gasoline toward $3 a gallon in many markets, and prompting American drivers to ask, "What gives?"

Blame it on the same folks who brought you $140 oil and $4 gasoline in 2008: Wall Street speculators.

Experts attribute much of the recent rise in prices to flows of speculative money into oil markets.

Posted by Orrin Judd at April 7, 2010 5:58 AM
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