Every time the price of gas goes up the Bolshies cry speculation, but, to my knowledge they have never been able to find any. They need to look at their own policies.
Soros may a billion dollars speculating on the Yen, they should investigate that. But, that would deprive the Bolshecrats of their funding.
Oil prices are set in a world oil market. Speculators speculate that oil prices will fall as well as that they will rise. If they speculate the wrong way, they lose their shirts. That is why an exhaustive investigation in 2008 by the Commodities Futures Trading Commission, which unlike Obama’s politicized Justice Department actually enjoys expertise on the issue, concluded that the net effect of speculation was to reduce prices. That is because all the speculation just nets out to accelerating market recognition of supply and demand conditions, making oil prices smoother and less volatile, reducing risk and hence price.
That is why as Investors Business Daily editorialized on April 26, “At last count, 35 such investigations have been conducted over the decades, and none — not a single one — has turned up wrongdoing by investors or oilmen.” All of this talk of speculation is just boob bait for bubbas, intentionally misleading the gullible, uneducated, and easy to command. As IBD added, “Rather than carry out another useless inquisition of private citizens, our political class should be investigating its own role in the price crisis. The result would be a revelation for those who fall for Washington’s line about greedy businessmen whenever gasoline prices become painfully high.”
http://spectator.org/archives/2011/05/04/obamas-war-on-oil/