Sunday, June 29, 2008

Gas prices

It's interesting that there has not been one word in the media as to the real reason for gas prices to be soaring. It's not OPEC, it's not the oil companies....it's the Wall Street traders. They are trying to cover their bets and are competing against each other to buy oil, running up the prices in the meantime. Then there are the traders that bet that the prices would go up and are encouraging them to do so.

One national reported said with a straight face that the reason for the price increase was that demand had dropped and now there was an oversupply; this was the same reporter that last year reported that prices were going up because the demand outpaced the supply.

Obviously, the media is either too cowardly to report the real reason or they are just plain stupid and report whatever they are spoon-fed.