Wall Street Oil Speculation Driving Surge in Gas Prices - CommonDreams.org

Despite rising prices at US gas pumps, demand in the US was so low it has become a net exporter of gasoline, unable to consume all that it generates. This fact contradicts the familiar refrain from GOP politicians and operatives who claim that a 'Drill Everywhere' agenda would solve US energy woes or lead to lower prices for consumers.

That speculators have a huge impact on oil and gasoline prices is not news to anyone paying attention to the subject over the years, but it is an aspect that most media outlets rarely mention -- even when spiking gasoline prices dominate the news cycle. And legislatively, efforts to bring damaging speculative practices under control have continually stalled in Congress.

The full article is available here