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High Gas Prices? Blame Goldman Sachs

The Fiscal Times -- Democrats in Congress are preparing a volley against oil market speculators in their effort to counter charges by Republican frontrunner Mitt Romney that the Obama administration’s energy policies are to blame for skyrocketing gasoline prices.

A coalition of consumer groups, petroleum marketers and some industrial users said Thursday that legislation will be introduced in the House and Senate in the next few weeks that would slap new controls on oil futures markets. The goal is to curb the speculation that they say is driving up oil and gasoline prices and threatening to derail the economic recovery.

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Submitted Apr 11, 2012 By: twinbuick

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AcuraTSX Champion Author Ohio Posts:5,509 Points:2,185,055 Joined:Dec 2005	Message Posted: Apr 11, 2012 7:00:24 PM Ignore AcuraTSX Report Abuse Democrats can not blame Obama now can they? Maybe they should.
mabrams184 Champion Author Lexington Posts:2,114 Points:536,715 Joined:Aug 2011	Message Posted: Apr 11, 2012 6:58:49 PM Ignore mabrams184 Report Abuse They all own part of the blame.
Benz98 Veteran Author Modesto Posts:370 Points:21,285 Joined:Mar 2011	Message Posted: Apr 11, 2012 6:58:26 PM Ignore Benz98 Report Abuse ok
bettersight Champion Author Oakland Posts:1,116 Points:255,885 Joined:May 2011	Message Posted: Apr 11, 2012 6:58:12 PM Ignore bettersight Report Abuse ok
nwsynthetics Champion Author Oregon Posts:1,014 Points:347,625 Joined:Dec 2011	Message Posted: Apr 11, 2012 6:57:49 PM Ignore nwsynthetics Report Abuse Oh good! The blame game
rf6480 Champion Author Miami Posts:1,539 Points:550,330 Joined:Mar 2011	Message Posted: Apr 11, 2012 6:55:39 PM Ignore rf6480 Report Abuse They are a major source of the economic crisis and they own Romney. Don't elect another corporate president.
fuelsaverMN Champion Author Twin Cities Posts:2,282 Points:559,080 Joined:Mar 2011	Message Posted: Apr 11, 2012 6:53:42 PM Ignore fuelsaverMN Report Abuse NO MORE HIGH GAS PRICES!!!!!!
jango28 Sophomore Author Memphis Posts:161 Points:150,795 Joined:Dec 2007	Message Posted: Apr 11, 2012 6:51:23 PM Ignore jango28 Report Abuse Ok blamed
raj_fl Champion Author Trenton Posts:3,224 Points:730,930 Joined:Oct 2010	Message Posted: Apr 11, 2012 6:50:48 PM Ignore raj_fl Report Abuse hmmmmm
raj_fl Champion Author Trenton Posts:3,224 Points:730,930 Joined:Oct 2010	Message Posted: Apr 11, 2012 6:50:23 PM Ignore raj_fl Report Abuse its a shame that we pay for the riches of the republicans
ezone Champion Author Florida Posts:2,421 Points:949,360 Joined:Oct 2008	Message Posted: Apr 11, 2012 6:47:53 PM Ignore ezone Report Abuse I am just certain MORE government intervention will drive prices down in no time flat! And if you believe that, I have some lovely swamp land to sell you here in Florida. NObama 2012.
DCbeachbum Champion Author South Carolina Posts:2,647 Points:907,065 Joined:May 2010	Message Posted: Apr 11, 2012 6:45:39 PM Ignore DCbeachbum Report Abuse Sure lets blame Goldman Sachs. If speculators cannot take delivery on the oil. They should not be allowed to bid on it.
darkknight1 Champion Author Winston-Salem Posts:4,355 Points:898,985 Joined:Nov 2010	Message Posted: Apr 11, 2012 6:43:46 PM Ignore darkknight1 Report Abuse hmmmm
theschmuck Champion Author Michigan Posts:2,937 Points:1,515,525 Joined:Mar 2007	Message Posted: Apr 11, 2012 6:42:28 PM Ignore theschmuck Report Abuse You sure can tekk it's election time coming up again. Congress should take a long walk off a short pier and BHO with them.
CheapDiesel All-Star Author Indianapolis Posts:803 Points:177,530 Joined:Nov 2005	Message Posted: Apr 11, 2012 6:40:03 PM Ignore CheapDiesel Report Abuse At least when gas prices spiked under GWB they dropped like a rock immediately after... http://www.thedigeratilife.com/images/historical-gas-prices.jpg
Vette1967 Champion Author Albany Posts:5,987 Points:1,280,000 Joined:Jun 2009	Message Posted: Apr 11, 2012 6:35:46 PM Ignore Vette1967 Report Abuse Market manipulation at it's best.
donnamarieb333 Veteran Author South Carolina Posts:397 Points:181,340 Joined:May 2011	Message Posted: Apr 11, 2012 6:35:17 PM Ignore donnamarieb333 Report Abuse i have often said that the premise for "the running man" in this day of reality tv will find it's place in our homes just like judge judy, peoples court, etc. i think we should test market this by using speculators rather than death row inmates just to see if there's any interest in us playing with their lives like they play with ours every day... just sayin'... on second thought, let's throw all the politicians in there too and start fresh... posted this on first story but works here just as well...
nvwarped All-Star Author Corpus Christi Posts:893 Points:457,500 Joined:Sep 2011	Message Posted: Apr 11, 2012 6:34:48 PM Ignore nvwarped Report Abuse ok
CheapDiesel All-Star Author Indianapolis Posts:803 Points:177,530 Joined:Nov 2005	Message Posted: Apr 11, 2012 6:33:00 PM Ignore CheapDiesel Report Abuse Just like the liberals....cause a problem (created perfect environment for speculators to run up prices) and then blame those who cashed in on your foolish policies (speculators). BHO has done nothing to promote domestic energy production (in spite of the photo ops to fool the drones).
vjs3 Champion Author Denver Posts:2,557 Points:652,840 Joined:Jun 2011	Message Posted: Apr 11, 2012 6:32:53 PM Ignore vjs3 Report Abuse Blame? Just fix...
sch5v2 Veteran Author Colorado Posts:330 Points:924,675 Joined:Apr 2008	Message Posted: Apr 11, 2012 6:28:52 PM Ignore sch5v2 Report Abuse Gas was 50 cents more expensive 3 years ago. I don't recall anyone blaming Bush.
teamsimons Champion Author South Carolina Posts:2,488 Points:505,045 Joined:Aug 2011	Message Posted: Apr 11, 2012 6:27:47 PM Ignore teamsimons Report Abuse So, the high price of fuel is being blamed on the "oil market speculators"? Is this not the "free market" in action? If we are to be a free people, then that freedom should pertain to speculators, right? Where does it or should it end? In ending it, do we do ourselves more harm than if we had left it alone?
oldiesman Champion Author New York Posts:6,445 Points:2,197,670 Joined:May 2006	Message Posted: Apr 11, 2012 6:27:33 PM Ignore oldiesman Report Abuse It's all on Obamas back, refusing to grant the Keystone Pipeline is just another notch in his belt, must be defeated if this country is to survive.
ramman2012 Champion Author Edmonton Posts:2,318 Points:495,885 Joined:May 2011	Message Posted: Apr 11, 2012 6:27:13 PM Ignore ramman2012 Report Abuse So?
rayla36 Sophomore Author Columbus Posts:118 Points:39,410 Joined:Mar 2012	Message Posted: Apr 11, 2012 6:27:04 PM Ignore rayla36 Report Abuse Get politics per se out of pricing -- nice thought.
MINIWINI598 Champion Author Washington Posts:3,033 Points:521,625 Joined:Dec 2011	Message Posted: Apr 11, 2012 6:26:02 PM Ignore MINIWINI598 Report Abuse ok
mtaboy Sophomore Author New Jersey Posts:193 Points:54,730 Joined:Dec 2004	Message Posted: Apr 11, 2012 6:22:48 PM Ignore mtaboy Report Abuse The best way to reduce speculation is to quite simply KILL ALL THE GREEDY SPECULATORS...In about a month - GAS WILL BE $1.99 again...
adrerock Sophomore Author Florida Posts:142 Points:3,750 Joined:Jul 2011	Message Posted: Apr 11, 2012 6:22:22 PM Ignore adrerock Report Abuse Of course the banks are driving up gas prices.
jdc17327 Champion Author Pennsylvania Posts:2,560 Points:198,015 Joined:May 2009	Message Posted: Apr 11, 2012 6:20:45 PM Ignore jdc17327 Report Abuse hang 'em high!
tidalwave3 Champion Author Tallahassee Posts:1,311 Points:1,466,515 Joined:Jun 2008	Message Posted: Apr 11, 2012 6:17:20 PM Ignore tidalwave3 Report Abuse Fear can drive a sain man into stupidity :(
PhilMils Champion Author Virginia Posts:6,265 Points:1,186,460 Joined:Dec 2008	Message Posted: Apr 11, 2012 6:17:01 PM Ignore PhilMils Report Abuse I see as soon as the Democrats started to go after the speculators, the very people who said speculators were to blame for high oil prices and changed their minds. Guess they were more interested in promoting their political agenda than gasoline prices.
camaro_man Champion Author Kitchener-Waterloo Posts:2,247 Points:614,820 Joined:Jun 2010	Message Posted: Apr 11, 2012 6:14:56 PM Ignore camaro_man Report Abuse dinks
UC2 Champion Author Ventura Posts:1,305 Points:318,255 Joined:May 2010	Message Posted: Apr 11, 2012 6:14:27 PM Ignore UC2 Report Abuse speculators are guided by how much consumers buy beyond their needs
GenoAR Veteran Author Arkansas Posts:429 Points:763,245 Joined:Oct 2008	Message Posted: Apr 11, 2012 6:13:08 PM Ignore GenoAR Report Abuse Nothing can be done. They set the prices and we the people pay. Period.
WillyG Champion Author Cincinnati Posts:3,568 Points:909,015 Joined:Aug 2005	Message Posted: Apr 11, 2012 6:11:52 PM Ignore WillyG Report Abuse I thought we were blaming speculators. Did we change the enemy ?
RockJuno Sophomore Author Miami Posts:153 Points:42,095 Joined:Apr 2012	Message Posted: Apr 11, 2012 6:11:32 PM Ignore RockJuno Report Abuse Greed...
GLM4205 Champion Author Toledo Posts:4,072 Points:803,220 Joined:Dec 2010	Message Posted: Apr 11, 2012 6:08:43 PM Ignore GLM4205 Report Abuse It's combination of speculation and some one to blame for these runaway gas prices.
pjslyfox All-Star Author Grand Rapids Posts:782 Points:959,600 Joined:Feb 2006	Message Posted: Apr 11, 2012 6:08:03 PM Ignore pjslyfox Report Abuse This is just obummer looking for votes, if he really cared, this would have been addressed long ago.
outlaw329 Champion Author Austin Posts:7,637 Points:1,378,405 Joined:Aug 2008	Message Posted: Apr 11, 2012 6:06:22 PM Ignore outlaw329 Report Abuse Lets stop speculation first and see what happens. There is enough blame to spread around.
mitchell6597 Champion Author New Hampshire Posts:3,462 Points:728,360 Joined:Apr 2010	Message Posted: Apr 11, 2012 6:03:33 PM Ignore mitchell6597 Report Abuse Okay.
TDIdave Champion Author California Posts:5,068 Points:1,227,440 Joined:May 2006	Message Posted: Apr 11, 2012 6:01:40 PM Ignore TDIdave Report Abuse hmmmm.
swrestler Champion Author Grand Rapids Posts:6,155 Points:1,575,075 Joined:Oct 2008	Message Posted: Apr 11, 2012 5:59:11 PM Ignore swrestler Report Abuse I Agree Time To Get Rid Of The Speculators...
OKRifle Champion Author Oklahoma City Posts:10,424 Points:1,813,210 Joined:Oct 2007	Message Posted: Apr 11, 2012 5:59:03 PM Ignore OKRifle Report Abuse No! It is time to put the blame on the low life, dirt bag, scum sucking communist in the White House!
DanMtz Champion Author Oakland Posts:3,370 Points:1,246,350 Joined:Oct 2009	Message Posted: Apr 11, 2012 5:58:59 PM Ignore DanMtz Report Abuse I say blame GS for everything.
vrossi46 Champion Author San Jose Posts:2,682 Points:806,870 Joined:Oct 2008	Message Posted: Apr 11, 2012 5:56:48 PM Ignore vrossi46 Report Abuse let's see some action to limit speculation
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Apr 11, 2012 5:55:16 PM Ignore Agarre Report Abuse Another blame game..,
kishoreCA Champion Author Ventura Posts:3,136 Points:395,820 Joined:Mar 2012	Message Posted: Apr 11, 2012 5:53:56 PM Ignore kishoreCA Report Abuse whatever, but good if they can stop speculation.
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Apr 11, 2012 5:52:41 PM Ignore iceman11 Report Abuse ok
jack_flash Veteran Author Idaho Posts:458 Points:893,600 Joined:Sep 2008	Message Posted: Apr 11, 2012 5:51:59 PM Ignore jack_flash Report Abuse Blaming isn't lowering the prices at all.
stephen2155 Champion Author North Carolina Posts:3,039 Points:660,955 Joined:Jun 2011	Message Posted: Apr 11, 2012 5:48:09 PM Ignore stephen2155 Report Abuse I agree
crashintuc34 Champion Author Tucson Posts:4,065 Points:814,800 Joined:May 2010	Message Posted: Apr 11, 2012 5:46:02 PM Ignore crashintuc34 Report Abuse Yep.
ChuckGVT Champion Author Vermont Posts:6,713 Points:1,696,125 Joined:Apr 2008	Message Posted: Apr 11, 2012 5:45:36 PM Ignore ChuckGVT Report Abuse nobama's policies are to blame. And remember in Nov 2010 nobama told us that the law he just signed would end speculation as we know it.