Just look at these headlines……

UK Gas Prices Rise Despite Mild Weather
Oil Prices Rising Despite Lowest Demand Since 1997
US Spot Gas Rises Today Despite Weak Futures.
Continued growth in shale gas and offshore drilling and production throughout the US.

Wait a minute…. isn’t the price SUPPOSED to go down, when you have too much of an item and fewer people wanting to buy it?

Obviously gas and oil are not in a free market system.

Bloomsberg tells us why……

Gas prices are off to a fast start in 2012. The national average for a gallon of regular gasoline is up more than 8 percent since the end of 2011, rising from $3.25 per gallon to $3.52,

This is the earliest in a new year that the average price per gallon has breached the $3.50 mark…

“Petrol demand is as low as it’s been since April 1997,” says Tom Kloza, chief oil analyst for the Oil Price Information Service.

Hmmmmmm. On February 17, 1997 gas prices were…. $1.22 a gallon. Why then with demand at the same level are they at $3.57 today?

One reason…. Bain Capital like hedge funds…..

Much of the increase is due to speculative money that’s flowed into gasoline futures contracts since the beginning of the year, mostly from hedge funds and large money managers. “We’ve seen about $11 billion of speculative money come in on the long side of gas futures,” he says. “Each of the last three weeks we’ve seen a record net long position being taken.”

In other words, $11 billion in gasoline futures are secured at very high prices, which means that until the futures come down, that is what we we’ll pay.

We are just the pawns throwing our money away to the 1%… Here, we’ve got tons of it sitting around, have some more……

Can this rigging be fixed?

Absolutely. Ulysses S. Grant showed us how….

Called the Black Friday Gold Panic, in 1869 two financiers tried to corner the price of gold without regard to the nation’s economic welfare….

As the price of gold climbed, industries requiring gold as a catalyst, could not afford to buy… The Federal Treasury released $4,000,000 in gold at the rate prior to the speculative runoff….

Today if translated to gas, the Chief Executive Officer of the United States, could at a time when gas was $4.00 a gallon, release for sale large quantities of the Strategic Petroleum Reserve at prices in the $2.00 range, and those holding futures at $4.00 would be ruined…

Gas would return to market rates, probably around $1.50 a gallon.

Obama would be the hero of the Western World….

A picture of Romney with tears running down his face would the the new face of HOPE for years to come…..

It’s been a while since we’ve had a hero……..