Prophetic Times

Greed and Gas Prices

Mar 21, 2012

By Jeff Wehr

We are getting close to $4/gallon for gasoline. Crude oil prices hit $108 per barrel on February 24. Three years ago, the price for a gallon of gas was $1.90. So why are gas prices so high? Part of the blame goes to the big oil companies that made almost $1 trillion in the last ten years. Then there are the speculators on Wall Street. Ten years ago, speculators controlled only about 30 percent of the oil futures markets. Today, they control about 80 percent. Many of these people who buy and sell oil as a commodity will use very little of it. The function of speculating is simply to make as much money as fast as you can. Some suggest that speculation has driven up the price of oil by 40 percent. So Wall Street laughs its way to the bank while hardworking Americans struggle to make ends meet. The Occupy Wall Street movement is only the beginning of the frustration that exists out in the real world. This may simply be the beginning of a volcano ready to go off.