Reports on the amount of crude oil and refined petroleum products indicate that
stock levels are high, that US is producing more of its crude, and demand for
gasoline is down. Essentially, there is more than ample product. Yet gasoline
prices are high. The question is why? The answer is that hedge funds, and like
investors, are using petroleum products on the commodities market as investments
with no intention of ever taking delivery of these products. This is the
antithesis of the reason for the creation of the commodities market. These
financial Goliaths should be banned from the commodities markets if they do not
intend to take delivery of the product and process and sale it. If the
commodities market kept to the reasons it was created and had proper controls in
place, then crude prices would be much lower, as would gasoline prices. We have
a government that has turned a blind eye to making sure that regulators, such as
those overseeing the commodities market, are complying with the laws.
What may be happening is that U.S. gasoline companies are exporting gasoline to
other countries keeping the supply in the United States and Utah low so that
they can take advantage of profits on the global market. This isn't about
homegrown family owned businesses who really care of their local customers.
But isn't it the patriotic duty of all of us who inhabit the 99% to do all
we can to cheerfully support the speculators, marketeers, Wall Street tycoons,
oil industry execs and the rest of the 1% who suck up as many dollars as
possible so they may create all those jobs they are supposed to be creating?Come on, fellow Americans, do your duty with a heart full of song and
stop complaining. Mitt would be disappointed in you.