Energy Costs: The real reasons for high gasoline prices .......Wall Street - Financial Speculators

With gasoline prices approaching $4 per gallon in Madison, there are many factors that have been blamed by politicians and so-called analysts in the corporate media. Among those are tensions in the Middle East, supply and demand, OPEC policies, the Obama administration’s policies, etc.

While many factors can be considered in placing the blame for rising gasoline prices, the primary cause of the price increase is rarely mentioned - speculation on Wall Street. Wall Street is betting on higher oil prices in the future and that betting is causing prices to rise.

A recent article by Robert Lenzner, writing for Forbes, concludes that speculation adds $23.39 to the price of a barrel of crude oil, which translates to a $.56 increase in the price of gasoline at the pumps for Americans. In other words, relatively few players in the Wall Street casino with very deep pockets are placing huge bets on oil – and the consumer is paying.

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