1. Nobody owes you gasoline at a price you prefer.
2. The price you pay at the pump would average higher over time without speculators.
3. Speculators don’t control the price of gasoline.
There used to be position limits in place to damper the effects of speculators (see post 17). And for good reason - to prevent what we have seen over the last 3-4 years in commodities markets.
2. The price you pay at the pump would average higher over time without speculators.
Bullcrap. Do you think oil companies like trying to figure out the viability of a project with the wild gyrations in oil prices we have seen as of late? Speculators don't produce or manufacture jack. All they do is claim they add liquidity - and last I checked, we have TOO MUCH liquidity over as of late.
3. Speculators don’t control the price of gasoline.
No, but when they help jack the price of oil up to $148/bbl, guess what? THE PRICE OF GAS GOES UP.
Any other worthless banalities you wish to add here?