Driving to the Thanksgiving Gathering, Thanks to Speculators

By November 25, 2008Energy

From today’s Washington Post, “Holiday Travelers Pumped“:

Despite all of the doom and gloom over the economy, people in the Washington area are still planning to travel long distances for dry turkey and the warm embrace of family.

Travel experts say the dramatic fall in gas prices — down from an average of $4.11 a gallon in July to $1.91 today — is likely to salvage a holiday travel season that had been predicted to be one of the worst in memory.

Congress returns to Washington the week of December 8th. We demand a hearing calling the major oil company executives on the carpet, asking them to explain why they and co-conspirators in the futures market have manipulated prices to fall as low as they have. Who’s profiting? Why? Isn’t it it time for a Federal Trade Commission investigation into price-gouging?

Lousy speculators.

Join the discussion One Comment

  • Karl says:

    I’m sure you’re being sarcastic here but can you honestly say this price swing has been all about supply and demand (as you’ve done ad nauseum)? Has production increases 60%? Has demand dropped that much? I would like an honest answer because it appears the speculators may have and more to do with the price of gas than you are admitting.

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