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Blog of Mass Destruction

Gasoline Prices

By The Reverend Published: June 19, 2008

The Reverend has written many posts on oil prices, the futures market gambling houses, how both political parties have helped to bring about our current high oil prices through refusal to regulate those gambling houses, and so on.

On June 2nd I wrote about the Phil Gramm family, their close connection to John McCain, and the integral role the Gramms played in producing today's 4 dollar gasoline prices.

Last night, June 18th, on Keith Olbermann's Countdown, it seemed as if Keith was channeling The Reverend. If you really want to understand why America is in a recession and why in the hell we're paying 4 dollars a gallon....take the time to watch the following clip.....

If you paid close attention to the one individual in the clip.....he's predicting a 25 percent to 50 percent drop in oil prices.....if the "Enron loophole" for the benefit of commodities traders is closed.

No matter what bullsh?t you've heard about drilling....and drilling....and offshore drilling.....and then more drilling....and ANWR...and drilling.....the reason gas prices are through the roof is because of gamblers, unchecked, betting on the price of our next fillup.

Interest rates are low.....the dollar is sh?t.....the stock market has been in decline since last year and treasury bonds aren't attractive.....sooooo.....gambling on what the price of our next fillup will amount to has been the best bet in town. AND THAT'S WHY GAS PRICES ARE AT 4 DOLLARS.

For those who think I'm just being simplistic about an oh-so-complicated methodology of pricing....I invite you to read some of my other posts about this issue.

From Nixon forward on energy policy.

Oil at 100 dollars.

Hedging bets.

If you've seen the Enron scam.....you've seen the current oil futures market scam.

We're paying 4 dollars a gallon, truckers are paying 5 dollars, the economy is heading south, inflation is looming mightily....Why?.....so that a handful of greedy sons of bitches can enrich themselves clicking buy and sell buttons on their goddamn computer screens.

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