Originally Posted by
319driver
RJ Pilot with all do respect, any non left wing economist would differ with your post. China and India are pushing the price of oil straight through the roof, due to demand. We could have created our own destiny with an energy plan that was effective here at home, but thanks to our obtuse Congress' we will reap exactly what we sowed. As for speculators, you can thank our Congress for letting us down in respect to them also. Congress has total control over oil speculation, but chooses to do nothing.
With China eliminating it's subsidies I think you will see there demand go down. That should help with the price. I too think speculation is a culprit in the high prices. It is not the sole culprit, you have to look the weak dollar and foreign subsidies as well. Unfortunately, we are now entering hurricane season.
Hopefully, they will get speculation under control, because that combined with hurricane season could be catastrophic.