The oil companies, speculators, etc. mean nothing next to the government.
Consider this:
-OPEC only accepts the US DOLLAR when it sells barrels of oil
-The fed through Quantitative Easing (Printing more money) lowers the value of the dollar.
-Historically speaking, as the dollar declines, gas prices rise.
It isn't that the price is necessarily increasing as much as it is ballancing out relative to the actual value of the dollar. If the American people had a collective half a brain they would be swarming the federal reserve demanding it's immediate disbandment. But alas, we have politicians like our President out there blaming those who are not the crux of the issue...and Obama knows that, but he is putting his chips on the American people being stupid. So, are you stupid?
Consider this:
-OPEC only accepts the US DOLLAR when it sells barrels of oil
-The fed through Quantitative Easing (Printing more money) lowers the value of the dollar.
-Historically speaking, as the dollar declines, gas prices rise.
It isn't that the price is necessarily increasing as much as it is ballancing out relative to the actual value of the dollar. If the American people had a collective half a brain they would be swarming the federal reserve demanding it's immediate disbandment. But alas, we have politicians like our President out there blaming those who are not the crux of the issue...and Obama knows that, but he is putting his chips on the American people being stupid. So, are you stupid?