Comment Text:
Gas prices contribute to the cost of every consumer product that must be transported. Profits belong to the individials who produce or enhance the value of the product. Speculators do not fit in either category. They are pocketing a large profit at the expense of the economy and a consumer who can ill afford the price inflation.
It is hard enough to get Congress to do anything these days, but they have directed that excessive speculation be reined in. This is not happening. Wall Street is making a killing , while the average American citizen has not seen an actual rise in income in 30 years (factoring in inflation). With unemployment at double digits, folks with income are helping relatives without. Formerly middle class families are eating through foodbanks, and homeless.
On any given day about half of the oil futures contracts are bought and sold by traders, not companies that use oil, and the sky’s the limit when it comes to how much of the market traders can control.
Cutting social programs and refusing to help disaster victims is not the solution to our woes. ENDING THIS RIDICULOUS ABUSE OF THE MARKETPLACE IS.
GET OFF YOUR BUTTS AND DO YOUR JOB.
sandy cole
