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April 17, 2012

Oil Speculation Could Be Coming To An End


Maybe pigs can fly. The Obama Administration is under pressure to bring down the high price of gas. With this in mind AG, Eric Holder, will outline a proposalto increase federal oversight of the oil market.

Here are the points of interest:

The president will call on Congress to:

• boost spending on technology to improve oversight and surveillance of energy markets.

• increase by six times the money spent on surveillance and enforcement staff of the Commodity Futures Trading Commission to better deter oil market manipulation.

• increase from $1 million to $10 million civil and criminal penalties against firms that engage in market manipulation.

• in an effort designed to limit energy market disruptions, give the Commodity Futures Trading Commission authority to increase the amount of money that a trader must put up to back a trading position.

Of course this is a political move, and Republicans will never go along with it.
What the heck? It can’t hurt to try.

Filed under:Fuel cost,Fuel Price Hedging,Gas price,Presidential Election | by Pump Girl @ 11:01 am | 

April 2, 2012

The Skinny on Gas Prices


Gas prices are way up in my part of the world – Chicago burb. Over $4 not quite at $4.50 and heading up.

I found a very informative article from How Stuff Works on what else? – How Gas Prices Work

The introduction gives a good overview of the gas price situation. I also found interesting The Breakdown of Gas Prices. In other words: Who gets what piece of the pie, and how much?

Filed under:Fuel cost,Fuel Price Trends,Gas price,Price Shocks | by Pump Girl @ 12:03 pm |