Who's to Blame for High Gas Prices?

Who's to Blame for High Gas Prices?
TheStreet.com's Simon Constable hits the pavement to see whether people think speculators are driving up oil and gasoline prices.

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[7Hook]

The Fed and wall street banks are to blame for higher prices of everything.

The FED pumped up printing when they stopped reporting M3, and again when the Fed started accepting trash CDOs and CDSs from investment banks for treasuries;

the banks know the treasuries are trash, and they are exchanging them for claims on tangibles in the commodities markets.

The FED and wall street are a scourge.

[getplaning]

There are three things that are driving up the price of oil: the falling dollar, speculation, and buying on margin.

The price of oil has more than quadrupled since 2001, from roughly $30 per barrel to $130, WITHOUT ANY DISRUPTIONS TO SUPPLY.

Investment banks are trading their worthless MBS and CDOs at the Fed's auction facilities and using the money to drive up the price of raw materials like rice, corn, wheat, and oil.

The Fed is looking the other way while they drive prices skyward.

[shmuli9]

@ThoughtGazeCarlos If hehad eaten more sauerkraut and beans before he died, he would have passed gas (and killed everyone in the bunker) before people could have tax Hitler's own gas... :-)

[shmuli9]

But gas prices aren't really that high... They are SUBSTANTIALLY below what they should be, allowing for the prices of things to increase in both the US and Canada...

[ThoughtGazeCarlos]

Hitler actually killed himself when he saw the gas price.

[emforty2]

GMDodgeChrysler down 3M down GE down Boeing down Miscrosoft down Coke Pepsi down Macys down Everyones down Exxon-Mobile=WINDFALL PROFITS !!!! on a Bad slowing economy thieves they stole that money thats why everyones earnings are down they got ALL THE MONEY !! CROOKS !!

[anonymousdissyotso]

xD too fun !! lets chat c my profile! 1

[atlantasbest]

I'm an Exporter and Importer making a lot of Money now because of Supply and Demand in other countries, Since Demand is Slow and Supply is great here the USA I can buy at wholesale prices and since in my home country Supply is Low and Demand is High I'm making a killing, There is a lot of ways to make Money now, Even if the Market gets worse I would double up my earnings at 100% or even 130% because of our bad economy.I'm not hiring illegals or Outsourcing, I'm buying American and creating jobs.

[guatay]

High gas prices r also attributable to emerging economies of China/India. Oil drilled goes to world market, selling to the highest bidder. It's free enterprise at its best. Speculators making $ off hot comodity & y not? Oil co's downsized refining capacity in 1980's. So, even with new discoveries, refining capacity isn't sufficient. U.S. co's r afforded same rights as individuals, giving co's right to manage in order to maximize shareholder wealth, which is the only reason co's r in business.

[debaucheryBotched]

Sounds like Robin Leech from 'Lifestyles of the Rich & Famous'

[koolmagicguy]

I understand that gas prices are very high, but can't people understand that the government is not to blame? How much could they change anyway? Taxes are only 18cents per gallon. When we were only paying 3 bucks a gallon you still complained. People just complain. It is their nature.

[ZaphedBeebleBrox]

Time for a hitler is near.