Friday, April 27, 2012

Are Speculators to Blame?

The Obama administration masterfully manipulates the politics of fear and obvious misinformation through speeches and a compliant media to rally its voting base and to justify its destructive policies that have brought this economy and our country to its knees.
Are Republicans the reason why students cannot get affordable student loans? Is the federal government not in charge of the student loan program? Why is college tuition so high, textbooks and tiny dorm rooms so expensive? Why do college graduates have 25 percent unemployment under President Obama’s administration? What good is the ability to get a low interest college loan if you cannot find a job when you complete your degree?
Are oil speculators the reason why we pay high gas prices at the pump? Has President Obama not promised that under his watch energy prices will necessarily skyrocket, coal plants go bankrupt, and gasoline will rise to $10 a gallon, following the European model? Has Secretary of Energy Chu not stated, they must find ways to push gas prices even higher than the current price?
Supply and demand are crucial determinants of the price of oil. Other variables such as a crisis and turmoil in the Middle East can cause real oil shortages or increase the fear of shortages. That is why oil futures contracts were invented, bought and sold by speculators.

Read more: http://www.canadafreepress.com/index.php/article/46306

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