Not Logged In Log In   Sign Up   Points Leaders
Follow Us    12:45 PM

GasBuddy News Article

54
votes
Are speculators really driving up gasoline prices?

Marketwatch -- Have you heard about the great conspiracy behind gasoline prices?

Apparently, it’s the one that’s causing prices to skyrocket at the pumps. Gas is up about 50 cents so far this year, hitting an average of about $3.80 a gallon nationwide.

Of course, somebody must be “to blame.” Turns out it’s the fault of “greedy speculators” who are driving up the price.

Everybody says so. Progressive websites. Conservative-leaning newspapers. Politicians at the state and federal level. Even regulators.

The evidence is that “non-commercial” interests — in other words, financial investors and speculators — now account for most of the trading in oil futures. On some occasions, indeed, they pretty much constitute the entire market. It’s those darn greedy speculators, stealing your money! It’s a


Read the Full Article

Submitted Mar 05, 2013 By: WxVette
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Are speculators really driving up gasoline prices? Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
KAR120CSII
Champion Author Oregon

Posts:4,669
Points:884,200
Joined:Apr 2010
Message Posted: Mar 7, 2013 10:08:28 PM

No conspiracy -- just good old American supply and demand. Great to see unbridled capitalism.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:21,435
Points:1,941,515
Joined:Nov 2008
Message Posted: Mar 7, 2013 9:04:18 PM

oil and pump prices weren't swinging wildly until specutraitors got free rei(g)n under Dubya.
Profile Pic
VaPider
Veteran Author Richmond

Posts:414
Points:359,455
Joined:Nov 2012
Message Posted: Mar 6, 2013 5:54:06 AM

Anyone blaming congress and their tax greed?
Profile Pic
judgemobile
Champion Author Ohio

Posts:9,229
Points:2,776,585
Joined:Nov 2005
Message Posted: Mar 6, 2013 3:56:14 AM

greed lives
Profile Pic
jim27106
All-Star Author North Carolina

Posts:897
Points:1,046,150
Joined:Feb 2009
Message Posted: Mar 6, 2013 2:58:19 AM

The author claims speculators don't take delivery. The folks at http://peakoildebunked.blogspot.com/2008/05/355-banks-hoard-oil-in-storage-tanks.html disagree. I should go to bed and am not going to find more recent sources.

[Edited by: jim27106 at 3/6/2013 5:58:32 AM EST]
Profile Pic
jim27106
All-Star Author North Carolina

Posts:897
Points:1,046,150
Joined:Feb 2009
Message Posted: Mar 6, 2013 2:39:32 AM

That link crashed my IE 7.
Profile Pic
StArrow68
Champion Author Oakland

Posts:4,962
Points:1,690,625
Joined:Apr 2003
Message Posted: Mar 6, 2013 1:33:20 AM

Even folks who play in these markets don't really understand how complex the systems are, leading to an inability to really explain it to everyone else. The markets provide a service, too bad some seem to mess with that.
Profile Pic
afghaned
Champion Author Ottawa

Posts:14,055
Points:1,617,485
Joined:May 2004
Message Posted: Mar 5, 2013 11:39:23 PM

So many people making the same comment!!!
Profile Pic
carloco75
Champion Author Richmond

Posts:5,411
Points:926,025
Joined:Oct 2010
Message Posted: Mar 5, 2013 10:55:34 PM

Ummm...
Profile Pic
wshutton
Champion Author Seattle

Posts:3,292
Points:1,248,110
Joined:Mar 2009
Message Posted: Mar 5, 2013 10:33:30 PM

A question for the author: Why have American retail fuel prices increased over $0.50 per gallon in two months?
Profile Pic
kgbellman
Champion Author Ann Arbor

Posts:4,366
Points:1,063,205
Joined:Mar 2011
Message Posted: Mar 5, 2013 10:31:52 PM

Hmmm - let me think and I will get back to you
Profile Pic
MrLefty0706
Champion Author Chicago

Posts:3,055
Points:680,150
Joined:Apr 2012
Message Posted: Mar 5, 2013 10:24:52 PM

We already knew it was speculators. Take oil and gas off the commodity market.
Profile Pic
Bill100
Champion Author Grand Rapids

Posts:44,153
Points:1,485,850
Joined:Jan 2010
Message Posted: Mar 5, 2013 10:18:32 PM

Marketwatch:

Having a hard time finding something to write about?
Profile Pic
DirtDauber
Champion Author San Antonio

Posts:8,450
Points:1,959,750
Joined:Nov 2005
Message Posted: Mar 5, 2013 10:17:19 PM

This is a pretty inane question.

If this is a news article, then tell us the news, don't ask a question.
Profile Pic
Ron77095
Champion Author Houston

Posts:4,715
Points:934,325
Joined:Sep 2011
Message Posted: Mar 5, 2013 10:16:00 PM

Really?
Profile Pic
arinkrat17
Champion Author Twin Cities

Posts:7,888
Points:1,660,120
Joined:Aug 2009
Message Posted: Mar 5, 2013 10:15:39 PM

Ok
Profile Pic
unclenorman
Champion Author Tampa

Posts:2,538
Points:456,340
Joined:Jan 2012
Message Posted: Mar 5, 2013 10:15:10 PM

REMOVE OIL/GAS FROM THE COMMODITY MARKETS NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Profile Pic
HA4CNN
Champion Author Toronto

Posts:7,074
Points:1,835,585
Joined:Dec 2006
Message Posted: Mar 5, 2013 10:14:36 PM

What a surprise.
Profile Pic
fenster66
Champion Author Pittsburgh

Posts:5,013
Points:1,004,515
Joined:May 2011
Message Posted: Mar 5, 2013 10:13:29 PM

all I know is that speculation is alive and well.....
Profile Pic
rap12MA
Champion Author Boston

Posts:2,015
Points:463,475
Joined:Mar 2012
Message Posted: Mar 5, 2013 10:11:15 PM

Speculators should be monitored and caps should be put in place.They have free rein which results in huge flucuations of prices at the pump.Between them and the refineries,I don't know who is screwing us more.
Profile Pic
tml721
Champion Author Columbus

Posts:14,039
Points:2,691,505
Joined:Jul 2005
Message Posted: Mar 5, 2013 10:10:39 PM

NO they don't, Its the stupidity in the house house which causes it.
Profile Pic
TBONE3
Champion Author Pennsylvania

Posts:10,280
Points:2,283,620
Joined:Mar 2005
Message Posted: Mar 5, 2013 10:10:22 PM

Any solution to the pricing problem at this time? If so, lets hear it.
Profile Pic
pa79th
Champion Author Pennsylvania

Posts:3,431
Points:1,539,050
Joined:Jun 2007
Message Posted: Mar 5, 2013 10:06:01 PM

That's sure to drive the prices up! Haven't seen anything yet that drives them down.
Profile Pic
AKmailman
Champion Author Alaska

Posts:7,294
Points:1,884,095
Joined:Jul 2004
Message Posted: Mar 5, 2013 10:05:39 PM

What conspiracy ? It's a fact
Profile Pic
Gas Thirsty
Champion Author Los Angeles

Posts:5,844
Points:3,535,865
Joined:Mar 2003
Message Posted: Mar 5, 2013 10:04:00 PM

The speculators are only part of the problem.
Profile Pic
gasaholicNC
Champion Author North Carolina

Posts:1,249
Points:1,742,005
Joined:Sep 2008
Message Posted: Mar 5, 2013 10:03:41 PM

There All In for The Money...
Profile Pic
streetcars
Champion Author Toledo

Posts:13,936
Points:2,936,525
Joined:Apr 2005
Message Posted: Mar 5, 2013 10:03:31 PM

Take gasoline off the market, they get to gamble with the crude oil as it is.
Profile Pic
Wally3023
Champion Author Pennsylvania

Posts:3,311
Points:819,750
Joined:Sep 2011
Message Posted: Mar 5, 2013 10:03:03 PM

That's right
Profile Pic
annettemendieta
Champion Author San Diego

Posts:3,391
Points:646,525
Joined:Jul 2012
Message Posted: Mar 5, 2013 10:00:25 PM

Another reason to raise gas prices.
Profile Pic
comprof
Champion Author Houston

Posts:8,650
Points:1,686,200
Joined:Jul 2009
Message Posted: Mar 5, 2013 9:59:54 PM

Speculators are convenient to blame. How about taxes, Politics, world turmoil, supply interruption and/or irregularities?"
Profile Pic
Z51Corvette
Champion Author Austin

Posts:9,957
Points:1,972,895
Joined:Jan 2008
Message Posted: Mar 5, 2013 9:58:49 PM

of course they are! Silly question!
The article is a bunch of HOOEY!
Profile Pic
obimerrill
Champion Author Cincinnati

Posts:3,095
Points:620,290
Joined:Jul 2012
Message Posted: Mar 5, 2013 9:58:33 PM

Absolutely
Profile Pic
rippinusoff
Champion Author Lexington

Posts:9,050
Points:1,818,300
Joined:May 2007
Message Posted: Mar 5, 2013 9:58:07 PM

yes
Profile Pic
DustyHorse
Champion Author Virginia

Posts:7,704
Points:1,700,415
Joined:Oct 2008
Message Posted: Mar 5, 2013 9:54:20 PM

I read both pages of this article and it makes no sense. It is just a lot of hand waving. Yes the speculators and market manipulators are causing an increase in prices. This is a bubble just like the housing bubble and the dot com bubble and it will burst.
Profile Pic
jrschl
Champion Author Louisville

Posts:4,629
Points:1,012,715
Joined:Jun 2011
Message Posted: Mar 5, 2013 9:48:53 PM

They are a great influence, but not the only one.
Profile Pic
Glock26
Champion Author Dayton

Posts:3,110
Points:950,055
Joined:Mar 2011
Message Posted: Mar 5, 2013 9:47:47 PM

No dout about it!!!
Profile Pic
tspaldi
Champion Author Provo

Posts:7,629
Points:1,264,425
Joined:Sep 2010
Message Posted: Mar 5, 2013 9:44:43 PM

Just set it so that the speculators must take delivery before they can resale the oil. Then watch the prices drop!
Profile Pic
probedude2
Champion Author Akron

Posts:14,222
Points:2,711,855
Joined:Jun 2003
Message Posted: Mar 5, 2013 9:42:11 PM

I thought it was the refineries who were making the money this time
Profile Pic
Buddy2264
Champion Author Tampa

Posts:13,352
Points:2,691,620
Joined:Oct 2005
Message Posted: Mar 5, 2013 9:41:11 PM

We questioned the prices and supply and now the prices seem to be going back down.
Profile Pic
dougtaylor1
Champion Author Phoenix

Posts:1,792
Points:469,445
Joined:Jun 2011
Message Posted: Mar 5, 2013 9:40:13 PM

They are making money at it or they would not be doing it. Them making money ends up costing us at the pump. Who else pays for it. Are there enough fools loosing money at the trading game that they are paying for the winners. I don't think so. We just end up buying from the commodity traders.
Profile Pic
LQQKGAS
Champion Author Phoenix

Posts:4,190
Points:1,516,585
Joined:Oct 2009
Message Posted: Mar 5, 2013 9:39:34 PM


10K:
It is called Armageddon, in Revelations.
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:13,654
Points:2,411,285
Joined:Dec 2006
Message Posted: Mar 5, 2013 9:39:16 PM

It's Bush's fault, OOhh-bamass says!
Profile Pic
JMW1942
Champion Author Michigan

Posts:2,190
Points:726,775
Joined:Feb 2012
Message Posted: Mar 5, 2013 9:36:05 PM

Yes to speculators.
Profile Pic
jkpsr
Champion Author New Jersey

Posts:5,539
Points:1,421,560
Joined:Jun 2005
Message Posted: Mar 5, 2013 9:34:25 PM

They do not have to take delivery because they sell the option before it comes due. Blame it on cheap money.
Profile Pic
grt197
Champion Author Illinois

Posts:2,069
Points:442,400
Joined:Jan 2013
Message Posted: Mar 5, 2013 9:33:27 PM

yes
Profile Pic
southrob
Champion Author Tucson

Posts:5,246
Points:1,012,125
Joined:Mar 2011
Message Posted: Mar 5, 2013 9:32:47 PM

dhan
Profile Pic
Mowerman08
Champion Author Milwaukee

Posts:6,348
Points:1,538,695
Joined:Aug 2008
Message Posted: Mar 5, 2013 9:32:27 PM

The market is up today watch crude go up rapidly.
Profile Pic
10k
Champion Author North Carolina

Posts:23,651
Points:2,584,920
Joined:May 2006
Message Posted: Mar 5, 2013 9:28:39 PM

big oil, speculators, and pure ol' greed-gimme, gimme..

but one day the house of cards will fall down, go boom !!..
Profile Pic
rawdog1313
Champion Author Lexington

Posts:4,838
Points:1,971,995
Joined:May 2008
Message Posted: Mar 5, 2013 9:28:21 PM

YES!!!
Profile Pic
bikechuck
Champion Author Indianapolis

Posts:8,679
Points:2,394,690
Joined:Apr 2006
Message Posted: Mar 5, 2013 9:25:32 PM

Ok, just the cost of exploration, recovery, refining, and delivery, all the while jumping through hoops of the EPA. So while some will make profits, others will lose. It is what it is.
Post a reply Back to Topics