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That's what I've read as well. Oil man president presiding over free for all of deregulated opaque speculation by the big banks and hedge funds. Don't see a lot of talk about it here on FR, though. Just the standard mantra about drilling.

Yes you do see talk about it. Where have you been? I'm not convinced the bubble is completely speculation driven, but I do give some credence to the notion that the prime speculators are troubled financial institutions who need a place to park money to make profits to offset their losses from bad loans. The government is happy to let them do this as high gas prices are a small price to pay to keep these institutions afloat considering what would happen nationally and globally if a bunch of them keeled over.

... but I do give some credence to the notion that the prime speculators are troubled financial institutions who need a place to park money to make profits to offset their losses from bad loans. The government is happy to let them do this as high gas prices are a small price to pay to keep these institutions afloat considering what would happen nationally and globally if a bunch of them keeled over.

Bingo! A winner!!! YES!

Although called a troll for saying so, high oil and gas prices are good for America. as is--man I hate to say this:

Ethanol--for the farmers...flame away I'm first in line///

Personally, I think Soros is behind it. Befouling the oil markets to destroy the US economy and give a leg up to his butt boy Barry O is more effective than just funding the nut roots groups he has used the last two elections.

And remember, Soros is the kind of guy who giggles when he destroys a national economy.

“Yes you do see talk about it. Where have you been? I'm not convinced the bubble is completely speculation driven, but I do give some credence to the notion that the prime speculators are troubled financial institutions who need a place to park money to make profits to offset their losses from bad loans. The government is happy to let them do this as high gas prices are a small price to pay to keep these institutions afloat considering what would happen nationally and globally if a bunch of them keeled over”

Exactly correct, the escalation in energy did not take off till just after the Bear Stearns bailout.

Strange coincidence or cause...?

IMVHO - It's a tax on all of us, without calling it a tax or anyone voting on it. Politicians hate to leave fingerprints.

I'm not convinced the bubble is completely speculation driven, but I do give some credence to the notion that the prime speculators are troubled financial institutions who need a place to park money to make profits to offset their losses from bad loans.

I've read some estimates that it could be as much as 60% speculation. The problem is that they are supposed to be regulated. There is an agency that is supposed to ensure that speculation doesn't drive prices out of whack with supply/demand. But instead the gubmint has created giant offshore loopholes so that speculators can make money they legally aren't supposed to make, at our expense.

The government is happy to let them do this as high gas prices are a small price to pay to keep these institutions afloat considering what would happen nationally and globally if a bunch of them keeled over.

Hmmm. Maybe they are motivated by trying to help the country. But I doubt it. I think they're helping their big fat cat donors, while at the same time getting more tax revenues thru the higher gas prices.

And further, the high gas prices serve as an excellent political football that serves both parties. The GOP gets to posture some more about drilling for oil, the DEMs get to posture about evil oil companies and alternative energy, while both parties get rich doing nothing.