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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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dave27johnson Champion Author Chicago Posts:1,788 Points:409,045 Joined:Feb 2012	Message Posted: Apr 15, 2012 9:36:06 AM Ignore dave27johnson Report Abuse At last.
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Apr 15, 2012 4:45:59 AM Ignore honda0105 Report Abuse Hobby: it started well before that.
Hobby001 Champion Author Michigan Posts:5,093 Points:1,184,840 Joined:Jul 2007	Message Posted: Apr 14, 2012 6:27:18 AM Ignore Hobby001 Report Abuse Blame speculators like George Soros, who started the widespread action in 2006.
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Apr 14, 2012 5:43:41 AM Ignore honda0105 Report Abuse the usual blame game, but no one finds true solutions.
sparky808 Champion Author Honolulu Posts:3,003 Points:598,710 Joined:Sep 2011	Message Posted: Apr 12, 2012 10:19:42 AM Ignore sparky808 Report Abuse Thank you for posting.
puinsai808 Champion Author Honolulu Posts:3,544 Points:727,305 Joined:May 2011	Message Posted: Apr 12, 2012 6:54:14 AM Ignore puinsai808 Report Abuse Good points tomok.
tomok Champion Author Portland Posts:33,028 Points:2,346,485 Joined:Aug 2006	Message Posted: Apr 12, 2012 12:08:00 AM Ignore tomok Report Abuse Goldman Sachs is one entity to blame. It does NOT help when Big oil is selling fuel and natural gas on the world market for higher prices and there will be NO price reduction for the cost of fuel or natural gas IN the US. Barry will support natural gas and oil production for sale on the world market to pay for his ‘spending gone wild’ addiction (federal oil tax collection). The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pays higher prices at the pump for their benefit. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost, if possible. The price of fuel at the pump is too high! 12/22/2012!
Dodge_Me Champion Author Atlanta Posts:2,214 Points:556,230 Joined:Mar 2006	Message Posted: Apr 11, 2012 11:24:26 PM Ignore Dodge_Me Report Abuse Hmm
pyndasky Champion Author Maryland Posts:10,005 Points:1,782,780 Joined:May 2008	Message Posted: Apr 11, 2012 9:12:16 PM Ignore pyndasky Report Abuse can't have it both ways.... commodities speculation is a part of the market... you're probably indirectly (or directly) benefiting from the greed you complain about...
rossp Champion Author San Jose Posts:13,475 Points:2,307,875 Joined:Apr 2006	Message Posted: Apr 11, 2012 9:09:32 PM Ignore rossp Report Abuse If they outlawed speculation, only outlaws would be able to speculate.
jkpsr Champion Author New Jersey Posts:4,084 Points:1,102,880 Joined:Jun 2005	Message Posted: Apr 11, 2012 9:08:24 PM Ignore jkpsr Report Abuse Cheap money is largely responsible.
bcok Champion Author Los Angeles Posts:2,126 Points:1,544,495 Joined:Oct 2005	Message Posted: Apr 11, 2012 9:07:41 PM Ignore bcok Report Abuse hwy any speculation any way? Only for the possibility of MORE profit?
joel27nc Champion Author Raleigh Posts:10,537 Points:1,858,370 Joined:Mar 2008	Message Posted: Apr 11, 2012 9:03:43 PM Ignore joel27nc Report Abuse Nothing but GREED!
52MPG Champion Author Dayton Posts:7,267 Points:1,742,680 Joined:Apr 2006	Message Posted: Apr 11, 2012 9:03:37 PM Ignore 52MPG Report Abuse Congress could outlaw speculation.
TheeRedRam Champion Author Hartford Posts:3,168 Points:673,610 Joined:Jun 2011	Message Posted: Apr 11, 2012 9:03:00 PM Ignore TheeRedRam Report Abuse GREED GREED on everyone's part
crowefamily1 All-Star Author Texas Posts:804 Points:297,100 Joined:Sep 2006	Message Posted: Apr 11, 2012 9:02:08 PM Ignore crowefamily1 Report Abuse obuma administation want the US economy to go belly up because they know they are going to lose the next election.
MidNJ Champion Author New Jersey Posts:7,559 Points:1,173,100 Joined:Sep 2009	Message Posted: Apr 11, 2012 9:01:25 PM Ignore MidNJ Report Abuse Really??
jem069 Champion Author Detroit Posts:2,543 Points:688,055 Joined:Jan 2011	Message Posted: Apr 11, 2012 9:01:16 PM Ignore jem069 Report Abuse Ok
RAKARWOWSKI Champion Author Chicago Posts:4,000 Points:821,025 Joined:Jan 2011	Message Posted: Apr 11, 2012 9:00:38 PM Ignore RAKARWOWSKI Report Abuse No obummer!!!!
vtroger Veteran Author Vermont Posts:284 Points:561,220 Joined:Mar 2011	Message Posted: Apr 11, 2012 8:59:03 PM Ignore vtroger Report Abuse Four years ago the democrats were blaming Bush. But as opposed to them blaming Obama they turn to someone new.
judgemobile Champion Author Ohio Posts:7,570 Points:2,445,135 Joined:Nov 2005	Message Posted: Apr 11, 2012 8:53:44 PM Ignore judgemobile Report Abuse waiting for Bummer to PROUDLY run on his achievement of MORE THAN DOUBLING gas prices under his watch
TekWare Champion Author Toronto Posts:3,166 Points:673,275 Joined:May 2011	Message Posted: Apr 11, 2012 8:53:27 PM Ignore TekWare Report Abuse At least 5 years too late.
dmgas1 Sophomore Author Philadelphia Posts:122 Points:83,965 Joined:May 2011	Message Posted: Apr 11, 2012 8:53:03 PM Ignore dmgas1 Report Abuse Right, like they can really do anything in DC to change this. It's easy to blame when you're out and want in.
big_mac64 Champion Author Tennessee Posts:10,593 Points:1,485,690 Joined:May 2005	Message Posted: Apr 11, 2012 8:51:17 PM Ignore big_mac64 Report Abuse As well as Obama, OGW
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Apr 11, 2012 8:45:58 PM Ignore OGW Report Abuse Goldman Sachs and Romney are all bad eggs and should be beaten and fried.
scrounger Champion Author Vancouver Posts:9,778 Points:3,044,305 Joined:Mar 2003	Message Posted: Apr 11, 2012 8:45:53 PM Ignore scrounger Report Abuse Speculators!!!
blk911 Champion Author Colorado Springs Posts:2,923 Points:771,115 Joined:Nov 2004	Message Posted: Apr 11, 2012 8:44:20 PM Ignore blk911 Report Abuse Obumer will do anything to get re-elected.
jjfisher All-Star Author Toledo Posts:547 Points:749,460 Joined:Aug 2008	Message Posted: Apr 11, 2012 8:43:19 PM Ignore jjfisher Report Abuse Lets start by getting rid of the speculators.
lightninjack Sophomore Author Ohio Posts:194 Points:15,695 Joined:Dec 2011	Message Posted: Apr 11, 2012 8:42:39 PM Ignore lightninjack Report Abuse Just for 1 day I would like to see everyone in the united states to not buy any gasoline in protest....I bet the prices would come down real quick after seeing how much they would lose from 1 day.
carpenter4u Champion Author Virginia Posts:2,436 Points:616,395 Joined:Jul 2011	Message Posted: Apr 11, 2012 8:38:39 PM Ignore carpenter4u Report Abuse this is their "we aren't the blame for any of the problems". Still little brats
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Apr 11, 2012 8:37:58 PM Ignore EmperorsFinest Report Abuse Too many greedy speculators
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Apr 11, 2012 8:36:34 PM Ignore EmperorsFinest Report Abuse Blame someone already!
AstrogirlUT Rookie Author Utah Posts:22 Points:23,875 Joined:Apr 2012	Message Posted: Apr 11, 2012 8:33:56 PM Ignore AstrogirlUT Report Abuse Rather than laying blame, let's focus on what we can do. I'm impressed that we are using less gas in the United States, with more fuel efficient cars and a few other innovations. Let's continue on in that same venue, and build on the good.
carman11 Champion Author North Carolina Posts:3,342 Points:692,700 Joined:Jun 2011	Message Posted: Apr 11, 2012 8:32:51 PM Ignore carman11 Report Abuse OK
mrbee Champion Author Little Rock Posts:3,758 Points:2,466,585 Joined:Oct 2005	Message Posted: Apr 11, 2012 8:31:26 PM Ignore mrbee Report Abuse Our politicians are for sale. Won't happen.
JohnJ55 Champion Author Dayton Posts:11,311 Points:1,934,180 Joined:Jul 2007	Message Posted: Apr 11, 2012 8:28:07 PM Ignore JohnJ55 Report Abuse IF it ever happens the speculators will probably find some way around it.
gass12 Champion Author Omaha Posts:8,394 Points:2,304,690 Joined:Oct 2005	Message Posted: Apr 11, 2012 8:26:11 PM Ignore gass12 Report Abuse It will get better in the next couple of months.
Kaiyne Champion Author Chicago Posts:2,339 Points:472,715 Joined:Feb 2011	Message Posted: Apr 11, 2012 8:23:18 PM Ignore Kaiyne Report Abuse Let's play point the fingers...
skyking19 Champion Author Little Rock Posts:2,001 Points:1,699,690 Joined:Jan 2007	Message Posted: Apr 11, 2012 8:23:00 PM Ignore skyking19 Report Abuse Turn up the heat.
HailstormCA Champion Author San Diego Posts:7,855 Points:1,472,020 Joined:Nov 2008	Message Posted: Apr 11, 2012 8:20:11 PM Ignore HailstormCA Report Abuse Gotta blame someone.
DandyDapple All-Star Author North Dakota Posts:715 Points:310,820 Joined:Sep 2008	Message Posted: Apr 11, 2012 8:20:09 PM Ignore DandyDapple Report Abuse Why is this even an issue? ... There should be a stop order on the speculation!
DEG Champion Author Las Vegas Posts:17,625 Points:3,495,680 Joined:Jul 2003	Message Posted: Apr 11, 2012 8:19:31 PM Ignore DEG Report Abuse melvindale, socialism has even larger problems. I don't disagree that Wall Street is too greedy and has been hurting Main Street.
melvindale Champion Author Michigan Posts:1,438 Points:351,230 Joined:Jun 2011	Message Posted: Apr 11, 2012 8:17:34 PM Ignore melvindale Report Abuse I used to be Republican. It is Wall Street that is turning me into a socialist. I would be a republican still, but Wall Street Greed caused the Great Depression of the 1930's. Then regulation came in and things seemed OK. Then stupid people in the 2 Bush administrations and the Clinton administration (I think it was changes initiated by the Clinton administration that caused the most damage) deregulated and, WORSE, stopped enforcing regulations to the investment industry (Industry doesn't really apply, but its the only word I know for this use). So, of course, Wall Street caused the giant economic meltdown that most of us are still suffering from. Once Wall Street began "investment vehicles" that are essentially gambling, why was the future NOT obvious to those who supposedly analyse and report on these things?
SparkieMi Champion Author Kalamazoo Posts:3,266 Points:589,360 Joined:Sep 2011	Message Posted: Apr 11, 2012 8:17:30 PM Ignore SparkieMi Report Abuse Really!!!! I will wait and see....
NorthglennBill Champion Author Denver Posts:7,427 Points:1,472,920 Joined:Oct 2008	Message Posted: Apr 11, 2012 8:16:13 PM Ignore NorthglennBill Report Abuse The politicians are getting desperate - especially Democrats.
clermont40miles Champion Author Cincinnati Posts:10,576 Points:1,772,940 Joined:Apr 2008	Message Posted: Apr 11, 2012 8:15:45 PM Ignore clermont40miles Report Abuse GS is part of the problem but by no means the only speculator. Shut them ALL down. They are killing us for their gain.
Badger4Life Rookie Author Wisconsin Posts:3 Points:27,785 Joined:Mar 2012	Message Posted: Apr 11, 2012 8:14:25 PM Ignore Badger4Life Report Abuse hmmmmmmm
PoohMcGoo Champion Author Alabama Posts:3,067 Points:800,585 Joined:Dec 2010	Message Posted: Apr 11, 2012 8:13:25 PM Ignore PoohMcGoo Report Abuse True
firefly09 Champion Author San Diego Posts:2,497 Points:716,700 Joined:Mar 2009	Message Posted: Apr 11, 2012 8:13:08 PM Ignore firefly09 Report Abuse Sooooooooooooooooooo?
Hoporrene Veteran Author Mississippi Posts:312 Points:206,970 Joined:Dec 2011	Message Posted: Apr 11, 2012 8:13:05 PM Ignore Hoporrene Report Abuse Tired of the blamegame...just fix it already.