Reply #1: It's all about greed! [View All]

[Andy823]

Just a few minutes ago the price of oil was at $62.57, last week it went up to about $72.00 a barrel and gas prices have been going up for the last few months almost on a daily bases. Earlier this year predictions said it might get up to $60.00 a barrel, maybe! Goldman Sachs, who is one of those who was buying up all the cheap oil, storing it and hoping for a big run "up", came out and revised their figures saying it would "not" hurt the economy if oil hit $80.00 a barrel, and that's what they thought it would peak out at. That caused prices to rise, just like they wanted it to. Now it's about $10.00 less per barrel than it was last week, and it just like this article sated, it looks like it is going to go lower when those who are stockpiling it in hopes of something making it go sky high, figure out it isn't going anywhere but down!

If the price had gone up $10.00 since last week, gas would have gone up two or three times by now, yet in my area, not one station has gone down since prices dropped. On the 4th of July weekend we were paying $3.05 for regular, and diesel had been at $2.69 for months, but a week before the 4th it went up to $2.88, and has gone down this week to $2.85! There is no reason for these higher prices when there is so much surplus of oil out there. It's all "GREED" by speculators like Goldman Sachs who are trying to gain back money they lost on the housing bubble when it burst, and they don't care what they are doing to the economy, nor do they care if some people who have lost their jobs can't afford to do anything because their budgets don't allow them to buy more gas than they need to get back and forth looking for work! Congress could put a stop to this kind of speculating and they could regulate the way energy is purchased to prevent the greedy from making a killing at the expense of others, but they aren't doing it. They tried last year to get something through congress, Patty Murray, my senator from Washington put a bill on the floor, but it didn't make it. I wrote her a letter last month asking why something wasn't being done, and she said that if her bill is put back on the floor she would vote for it, but that was it! Why can't congress stop working for the big oil companies, and investment companies, and start working for the people who voted them into office?

I don't know about you, but I am really getting tired of those I help put in office, not giving a damn about the average people of this country who put them in office!