High Price of Gas At the Pump

Yesterday, before Judge Pauley of the United District Court of the Southern District of New York, a motion was filed by the US Commodity Futures Trading Commission, against a consortium of hedge funds that ran up the price of oil during the winter of 2008.

The defendants manipulated the market by buying up roughly two thirds of the supply passing through the Cushing terminal, holding on to it to create the impression supplies were short, then dumping it onto the market, after betting it would sell short.

They performed the caper in January 08 and March 08. They were unable to find funding to finance it during February 08. Once they were notified in April that they had been placed under investigation, this consortium stopped.

This is just one group. imagine 30 to 40 groups all doing the same thing…

That this is done is now common knowledge, Out there are those who still erroneously believe supply and demand affect oil prices.. They refuse to acknowledge that oil was $145 a barrel, then $45 dollars once the funds got sold off to keep from going bankrupt..

There are those out there who still think we need to drill, drill, drill, like drilling will lower the price at the pump… It won’t, It can’t, . But instead of opening ocean floor to drilling, there still is something the Federal Government can do to make our lives easier when it comes to putting gas into our cars…

They can bet the entire Federal Debt on the fact that gas will rapidly drop in price, then dump a considerable amount of the Strategic Petroleum Reserves onto the Market… As the price of gas plummets from $3.87 to $1.47 a gallon, and bankrupts each and every hedge fund, both domestic and international, so much so, that across both sides of Wall Street, the sound of light caliber pistol fire echoes from building to building, cubicle to cubicle, … it forces the price of oil to again become determined by supply and demand. As all the moneys of the hedge funders start back-flowing into the US Treasury, and as each of us breathe easier every time we pull up to the pump, we, by pursuing this action, take care of the problem of high prices at the pump once and for all.

I mean if private companies can do it to take money out of our pocket each time we pump gas, the Federal Government can do the opposite to put money back into our pockets…

This is the second time… The first was 2008, but now, because of Republican gains in Congress, it is happening again… It would be wise to remember: just as we had to fight Germany twice in half a century because we didn’t finish the war the first time… this time, in our second war with the hedge funds, it would be wise to accept nothing less than unconditional surrender on their part.

A lesson needs to be taught! That lesson is: you don’t screw over everyday Americans.

Yesterday’s small step in US District Court, begins the process of educating America as to just exactly why, and by who, they are paying over $2.40 a gallon higher than they should……

And let us all stop this nonsense that gasoline prices are not manipulated…. They are. I’ve shown you the proof.

Next time someone tells you they aren’t, do them a huge favor. punch them hard and hurt them a little….

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