I just took a Bernie Sanders poll. Notwithstanding Bernie's Socialist base, the results of the poll were shocking. Of the 133 respondents, only 4 (including me) could correctly identify the cause of the rise in oil prices as supply and demand. 116 blamed Wall St or Oil Company profiteering. Now I don't support tax subsidies for oil companies, but commodities are not subject to corporate pricing manipulation. The last time I looked, only OPEC and acts of war ever took supply off the market. And when demand dropped in the recession, prices fell. So where is the price manipulation coming from? Pandering to peoples conspiracy theories is not leadership and once again both parties are to blame.
We can't drill our way to lower prices and we cannot get lower prices by banning commodities markets from taking positions on the future direction of prices!!
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