Friday, April 20, 2012
Are Oil Speculators to Blame for High Gas Prices? - Yahoo! News President Barack Obama's targeting of oil speculators coincided with a Los Angeles Times report of a national average gasoline price of $3.92 per gallon. The president accused oil speculators of irresponsibility for the gasoline price increases that threaten the recovery. While there are several factors affecting the price of gas, oil speculators are an easy target. Public anger makes people more willing to blame them for the price increases. What is oil speculation?