GAS GOES UP - BUT WHY?

I just went and filled up my gas tank. $3 a gallon here, again. I can not tell you how excited I am. We all know it is just because they can, and do every summer. Last summer they just about killed the economy, this year the economy is on it's last legs, and they are at it again. So I thought I'd figure out why.

It comes down to unregulated oversea derivative trading. And here is what that means:

A financial instrument, traded on or off an exchange, the price of which is directly dependent upon (i.e., "derived from") the value of one or more underlying securities, equity indices, debt instruments, commodities, other derivative instruments, or any agreed upon pricing index or arrangement (e.g., the movement over time of the Consumer Price Index or freight rates). Derivatives involve the trading of rights or obligations based on the underlying product, but do not directly transfer property. They are used to hedge risk or to exchange a floating rate of return for fixed rate of return. Derivatives include futures, options, and swaps. For example, futures contracts are derivatives of the physical contract and options on futures are derivatives of futures contracts.

Pretty simple right? Yeah, whatever. Doesn't mean a whole lot to me either.

But I did find this:

Goldman Sachs and Morgan Stanley today are the two leading energy trading firms in the United States. Citigroup and JP Morgan Chase are major players and fund numerous hedge funds as well who speculate.

Hey, doesn't the government own all of them now? Can't they make then knock it off?

I have been looking to see where this happened at, you know, at what point in time did this get deregulated. But I can't seem to find one. It looks more like it was invented by the trading companies, and all the regulators have simply looked the other way.

It seems they are still looking the other way. And why not? The goal seems to be to destroy the middle class and the economy. And what better way than to artificially drive the price of gasoline back up to the $4 to 5 levels.

You have to remember last summer gas was pushing $5 a gallon, when candidate Obama said he believed it should be at $6 a gallon all the time. Hello folks, he wasn't kidding! That is what he really believes.

If he was truly on the side of the middle class, he would have put one of the many Czar's of his in charge of the derivatives market, and start reeling it in. But, you have to look at who the big shot banks are that run this business. They were are all ingrained into the government before the bailouts. Everyone who has run the Treasury in the last 30 years has worked at one of those companies.

And there you go. When gas hits $6, we will all have to buy one of them GM Pelosimobiles. And that my friends, I think is the plan.

At least this time around they aren't feeding us bogus stories of more demand than supply. Since that was not true then either.

Do you ever get tired of these folks just lying to you, while they make your life more difficult?