GasBuddy Blog

GasBuddy News Article

votes

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.

Read the Full Article

Submitted Apr 11, 2012 By: twinbuick

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: High Gas Prices? Blame Goldman Sachs	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First Prev

Last

crashintuc34 Champion Author Tucson Posts:4,188 Points:839,305 Joined:May 2010	Message Posted: Apr 11, 2012 8:46:02 PM Ignore crashintuc34 Report Abuse Yep.
ChuckGVT Champion Author Vermont Posts:6,828 Points:1,720,450 Joined:Apr 2008	Message Posted: Apr 11, 2012 8:45:36 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.
GoneUpAgain Champion Author Atlanta Posts:7,769 Points:1,371,955 Joined:May 2004	Message Posted: Apr 11, 2012 8:44:15 PM Ignore GoneUpAgain Report Abuse For once the Democrats have something right. The Republicans are partially right but not for the reason they think. The administration could do something to curb the speculators.
SpankyMI Champion Author Kalamazoo Posts:2,831 Points:784,615 Joined:Jan 2011	Message Posted: Apr 11, 2012 8:40:32 PM Ignore SpankyMI Report Abuse There is plenty of blame to go around the question is what the hell are we going to do about it?
Duallyman Champion Author Columbus Posts:1,030 Points:186,675 Joined:Oct 2009	Message Posted: Apr 11, 2012 8:40:05 PM Ignore Duallyman Report Abuse everybody blames somebody else.
silverfoxv65 Champion Author Michigan Posts:4,623 Points:1,257,300 Joined:Sep 2009	Message Posted: Apr 11, 2012 8:39:07 PM Ignore silverfoxv65 Report Abuse Yea same thing over and over again!
jerej829 Champion Author Memphis Posts:2,969 Points:720,350 Joined:May 2011	Message Posted: Apr 11, 2012 8:36:04 PM Ignore jerej829 Report Abuse same oh same oh [Edited by: jerej829 at 4/11/2012 8:36:33 PM EST]
tco9436 Champion Author Connecticut Posts:1,807 Points:743,650 Joined:Mar 2010	Message Posted: Apr 11, 2012 8:34:37 PM Ignore tco9436 Report Abuse how about we blame ourselves for taking it from big oil
RickF350 Champion Author Washington Posts:3,439 Points:707,635 Joined:Apr 2008	Message Posted: Apr 11, 2012 8:33:46 PM Ignore RickF350 Report Abuse More finger pointing.
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Apr 11, 2012 8:33:38 PM Ignore MadTraveler Report Abuse Same ol' stuff.
Ebaz Champion Author Oklahoma City Posts:3,340 Points:737,965 Joined:Apr 2011	Message Posted: Apr 11, 2012 8:29:43 PM Ignore Ebaz Report Abuse How about flooding the wonky with printed money? Maybe?
preacherjohn Champion Author Modesto Posts:4,096 Points:1,943,310 Joined:May 2006	Message Posted: Apr 11, 2012 8:27:37 PM Ignore preacherjohn Report Abuse Y A W N..
CrappieFool All-Star Author Alabama Posts:787 Points:593,585 Joined:Apr 2009	Message Posted: Apr 11, 2012 8:25:24 PM Ignore CrappieFool Report Abuse No kidding...
McMutt Champion Author Ontario Posts:2,221 Points:1,333,680 Joined:Nov 2007	Message Posted: Apr 11, 2012 8:24:29 PM Ignore McMutt Report Abuse GFL
slowpoke63 Champion Author Louisiana Posts:2,817 Points:903,890 Joined:Jul 2009	Message Posted: Apr 11, 2012 8:21:05 PM Ignore slowpoke63 Report Abuse Corporate speculation.
KWM2011 Champion Author Ontario Posts:1,451 Points:351,950 Joined:May 2011	Message Posted: Apr 11, 2012 8:20:13 PM Ignore KWM2011 Report Abuse Good luck.
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Apr 11, 2012 8:20:11 PM Ignore sammy518 Report Abuse can we sue?
spunky4443 Champion Author Washington Posts:5,311 Points:1,335,945 Joined:May 2005	Message Posted: Apr 11, 2012 8:15:45 PM Ignore spunky4443 Report Abuse Hope somebody does something, the price of Fuel is BAD.
BCHS76 Champion Author Indianapolis Posts:1,048 Points:873,585 Joined:Oct 2009	Message Posted: Apr 11, 2012 8:14:42 PM Ignore BCHS76 Report Abuse Probably won't work.
Chris46 Champion Author Dayton Posts:23,954 Points:2,107,475 Joined:Sep 2005	Message Posted: Apr 11, 2012 8:13:45 PM Ignore Chris46 Report Abuse About time somebody did something!
Gascapade Champion Author Fort Worth Posts:3,156 Points:501,865 Joined:Mar 2009	Message Posted: Apr 11, 2012 8:13:37 PM Ignore Gascapade Report Abuse Obamas worst appointment, Gary Gensler, chairman of the CFTC is joining the two GOP members of the CFTC creating a 3/2 majority who are blocking looking into Crude oil speculations harm to the consumer, and therefore he should should be fired yesterday. But what really matters is that only congress can reverse crude oil speculation, and this will not happen unless pressure is put on the GOP paid puppet congressmen who support the enrichment of Big Oil and Wall Street speculator rats on the backs of the American People...
SilentpartnerMN Champion Author Minnesota Posts:1,642 Points:491,785 Joined:Apr 2011	Message Posted: Apr 11, 2012 8:13:06 PM Ignore SilentpartnerMN Report Abuse If this is what it takes to get Congress to step up and deal with what the speculators are doing to the commodity market, it's about time!
mikaye Champion Author Cleveland Posts:3,959 Points:890,185 Joined:Jun 2010	Message Posted: Apr 11, 2012 8:11:46 PM Ignore mikaye Report Abuse they all want high prices
BlueOnyx All-Star Author Georgia Posts:630 Points:1,290,130 Joined:May 2008	Message Posted: Apr 11, 2012 8:11:06 PM Ignore BlueOnyx Report Abuse "... legislation will be introduced in the House and Senate in the next few weeks that would slap new controls on oil futures markets." What's the point if they're not going to enforce it? They're not enforcing the last legislation they passed.
Enstein Champion Author Lansing Posts:1,136 Points:57,590 Joined:May 2011	Message Posted: Apr 11, 2012 8:09:47 PM Ignore Enstein Report Abuse Gas prices have exploded since the republicans took back congress. ANYTHING BUT A REPUBLICAN."CONSERVATIVES AND LIBERALS SUCK".
flahusky All-Star Author Florida Posts:733 Points:154,590 Joined:Feb 2011	Message Posted: Apr 11, 2012 8:09:45 PM Ignore flahusky Report Abuse mmmkay
luvmyburgi Champion Author Ohio Posts:5,972 Points:987,920 Joined:Sep 2005	Message Posted: Apr 11, 2012 8:07:18 PM Ignore luvmyburgi Report Abuse Not really sure who to blame but the wish the price of fuel will stablize at a price that everyone can afford.
Tomeboy Champion Author Twin Cities Posts:3,910 Points:587,390 Joined:Apr 2009	Message Posted: Apr 11, 2012 8:04:01 PM Ignore Tomeboy Report Abuse Someone earlier said... "The cards are stacked against us." Well guess who's back in Minnesota with here ridiculous comments again? No... its not Lady Luck. It's that Joker... Michelle Bachmann!! United State Rep. Michele Bachmann has hit the campaign trail, campaigning for re-election to her 6th District Congressional seat. On Tuesday, she invited reporters to watch her pump gas at a suburban Twin Cities convenience store, and blamed President Obama for near-record high gas prices. Bachmann Grandstanding on Gas Prices... Again!! “Just as recently as 3 1/2 years ago, gas was $1.94 a gallon. Today, it is $3.94 a gallon,” said Bachmann, who suspended her presidential campaign in January. “We’ve seen a tremendous 110 percent increase in gas prices that has had a definite impact on people’s lifestyle.” Bachmann is "promising" $1.84 a gallon if the U.S. allows oil drilling in the Arctic Wildlife Refuge and loosens permitting laws for oil and natural gas drilling, including on federal lands. Or she could get it as low as it was in the last days of the George W. Bush administration and as low as when President Obama took office by simply sending us back to a world-wide depression. As usual... Bachmann is not dealing with a full deck! Presumably, no one would call President George W. Bush unfriendly to the oil industry. Yet the price of gasoline rose steadily during most of his administration. In February 2001, just after Mr. Bush took office, the average price of regular gasoline was $1.45 a gallon. By June 2008, that price had risen to $4.05. Still think presidents and oil-friendly policies can determine oil prices? It’s true that by the end of the Bush presidency, prices had fallen back to $1.69, as oil prices plummeted with the rest of the global economy. But I think we can all agree that a global financial crisis is too high a price to pay for cheap gasoline.
walkingtall Champion Author Toronto Posts:4,134 Points:1,148,405 Joined:Nov 2004	Message Posted: Apr 11, 2012 8:03:44 PM Ignore walkingtall Report Abuse We have to blame somebody.
clement007 Champion Author Cleveland Posts:8,383 Points:1,873,920 Joined:Apr 2005	Message Posted: Apr 11, 2012 8:03:27 PM Ignore clement007 Report Abuse speculation is NOT the problem..it is tree hugging communist democrats......curb speculation is taking awau your freedom...wait till you need a operation in a couple years...
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,580 Joined:Oct 2008	Message Posted: Apr 11, 2012 8:00:49 PM Ignore LCSTEELERBOB Report Abuse lets get the gas prices lower and forget about politicking
Stubby2 Sophomore Author Michigan Posts:248 Points:679,685 Joined:May 2008	Message Posted: Apr 11, 2012 7:58:47 PM Ignore Stubby2 Report Abuse It's about time.
methaneman Champion Author Minnesota Posts:2,648 Points:1,296,810 Joined:May 2002	Message Posted: Apr 11, 2012 7:58:30 PM Ignore methaneman Report Abuse It is Obamas fault.
Pete12 Champion Author Albany Posts:4,918 Points:1,659,880 Joined:Nov 2005	Message Posted: Apr 11, 2012 7:56:28 PM Ignore Pete12 Report Abuse Well ALLELUIA they finally put two and two together!
Enstein Champion Author Lansing Posts:1,136 Points:57,590 Joined:May 2011	Message Posted: Apr 11, 2012 7:55:59 PM Ignore Enstein Report Abuse Estimates are that 80-90 republican members of congress are speculators. Another 80-90 republicans in congress are card carrying members of The Nazi Party with a commitment of forcing America into "THE NEW WORLD ORDER". ANYTHING BUT A REPUBLICAN."CONSERVATIVES AND LIBERALS SUCK".
MusicalMan7 All-Star Author Ohio Posts:597 Points:93,430 Joined:Apr 2012	Message Posted: Apr 11, 2012 7:54:10 PM Ignore MusicalMan7 Report Abuse Elections coming and this is their subset of "It's the economy, stupid." People vote their pocketbooks, and although no politicking can fix gas prices (other than caps on prices, which would cause no one to sell oil to the U.S.), there's really nothing they can do other than rail about it and promise that, if elected, THEIR team can fix it!
TXHUNTER1 Champion Author Austin Posts:2,712 Points:301,255 Joined:Dec 2006	Message Posted: Apr 11, 2012 7:51:34 PM Ignore TXHUNTER1 Report Abuse Yep, elections comming up.
fcdriver Champion Author Tennessee Posts:7,378 Points:1,499,580 Joined:Sep 2008	Message Posted: Apr 11, 2012 7:50:28 PM Ignore fcdriver Report Abuse i guess we have to blame somebody
shea33 Champion Author Pensacola Posts:2,508 Points:570,640 Joined:Oct 2011	Message Posted: Apr 11, 2012 7:49:34 PM Ignore shea33 Report Abuse ok
warlord1 Champion Author Georgia Posts:5,375 Points:1,061,250 Joined:May 2010	Message Posted: Apr 11, 2012 7:47:31 PM Ignore warlord1 Report Abuse ok
stevencr Champion Author Ohio Posts:5,792 Points:1,461,490 Joined:Mar 2009	Message Posted: Apr 11, 2012 7:45:46 PM Ignore stevencr Report Abuse But Obama wants high gas prices, like in Europe, to force drives to conserve and use alternative fuels.
lmpski Veteran Author Boston Posts:431 Points:421,330 Joined:May 2011	Message Posted: Apr 11, 2012 7:45:35 PM Ignore lmpski Report Abuse ...wall st money changers have to be cut out of this equation.
jwduke1 Champion Author Iowa Posts:15,604 Points:3,068,265 Joined:Apr 2004	Message Posted: Apr 11, 2012 7:44:52 PM Ignore jwduke1 Report Abuse I blame the idiot at the white house!
Alaydown Champion Author Los Angeles Posts:5,259 Points:847,065 Joined:May 2007	Message Posted: Apr 11, 2012 7:43:57 PM Ignore Alaydown Report Abuse Blame Obama for high gas prices.
felinePA All-Star Author Pennsylvania Posts:580 Points:41,105 Joined:Aug 2011	Message Posted: Apr 11, 2012 7:43:44 PM Ignore felinePA Report Abuse Raising gas prices? Is it the answer? I think not.
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: Apr 11, 2012 7:42:09 PM Ignore Jeeputtputt Report Abuse whose goldman sachs?
g747 Champion Author Mobile Posts:4,682 Points:961,370 Joined:Jul 2009	Message Posted: Apr 11, 2012 7:38:26 PM Ignore g747 Report Abuse That should have been done @ the start of the new administration!!!!.
pizzaman777 Rookie Author Little Rock Posts:20 Points:4,200 Joined:Apr 2012	Message Posted: Apr 11, 2012 7:34:27 PM Ignore pizzaman777 Report Abuse ok
EXTREMESNOW Champion Author Medford Posts:8,930 Points:1,825,740 Joined:Jul 2006	Message Posted: Apr 11, 2012 7:34:06 PM Ignore EXTREMESNOW Report Abuse Ya, sure, can do!
amearly Champion Author Michigan Posts:12,255 Points:2,494,335 Joined:Jan 2006	Message Posted: Apr 11, 2012 7:33:56 PM Ignore amearly Report Abuse This is what cause the out of control pirces in 2008 and nothing was done . There needs to be some speculation but it needs to have the true market not they people that bid up the pirce and never take inventory of what they bought.
dchiou Champion Author San Jose Posts:2,881 Points:816,340 Joined:Feb 2007	Message Posted: Apr 11, 2012 7:30:36 PM Ignore dchiou Report Abuse nods