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Fast rise in gas prices outrageous

Posted: March 5, 2014 - 4:47pm

Greetings to all. How fortunate we are to be able to live in or visit this spectacular place called Homer. With this being said, I also ask, why are we taken advantage of for being in this awesome place? The price of gas has risen 21 cents over a month. This is outrageous.

Is there a valid reason for this? If so, publish the reason for all of us to see. Otherwise, we can all assume that you raise the price “just because you can,” then shame on  you. It seems that as soon as anything at all is published or mentioned that the price of gas may  go up, then within a day or two, BINGO ... up goes the price in Homer.

Tell us why. We want to know the reason. Enough of all this ridiculous division, we need unity of our community — and it should include all businesses. 

Kim Kuklis

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jokimball777 03/06/14 - 08:02 am
koch brothers

Thank you for bringing this up. Most of the high cost of gas and heat that we all pay is due to oil speculation which began when the Koch Brothers lobbied congress to introduce speculation.

How Koch Became An Oil Speculation Powerhouse
From Inventing Oil Derivatives To Deregulating The Market

"Excessive energy speculation today is at its highest levels ever, and even Goldman Sachs now admits that at least $27 of the price of crude oil is a result from reckless speculation rather than market fundamentals of supply and demand. Many experts interviewed by ThinkProgress argue that the figure is far higher, and out of control speculation has doubled the current price of crude oil."

After the Koch Brothers introduced speculation and got Phil and Wendy Graham to deregulate with the Enron loophole, their wealth went from $5 billion to $+100 billion and climbing.

It is ironic that Republicans who hate paying taxes, are being gouged like this by the Koch brothers, while the Koch brothers use their ill gotten gains to run ads about how their prosperity is under attack.

The Koch brothers think the Republican party are fools, they are just using and abusing them to push their propaganda.

With all the money government spends on gas and heat, federal, state and local....just imagine how much more money we would all have if someone stopped the Koch brothers from this reckless speculation. Imagine how much this gouging has added to the national debt.

As to the recent price hike, might have to do with the Koch brothers angry at having to pay to clean up their mess at Flint Hills.

But every company is gouging us. Suburban propane is charging $6.50 per gallon for propane. All the people that think they will save with natural gas...just wait.

kearbear 03/06/14 - 02:38 pm
Commodity traders are

Commodity traders are responsible for oil prices by bidding on oil futures contracts. These contracts are basically agreements to buy or sell oil at a specific date in the future for an agreed-upon price. These futures contracts are executed on the floor of a commodity exchange by traders who are registered with the Commodities Futures Trading Commission. Commodities have been traded for more than 100 years, and have been regulated by the CFTC since the 1920s.

jokimball777 03/08/14 - 07:56 am
wake up kearbear

October 6, 1986: First oil derivative is introduced to Wall Street by traders at Koch

– 1990-1992: Koch, along with several oil companies and Wall Street speculators, form a coalition lobbying group to deregulate oil speculation.

January 21, 1993. Wendy Gramm makes first major move to deregulate oil speculation.

1997: Koch continues to shift from oil refining and pipelines to financial products.

December 12, 2000: Sen. Phil Gramm (R-TX), after being lobbied by Koch and Enron, creates the infamous “Enron Loophole” vastly deregulating the oil speculation market.

2008: Rampant oil speculation spikes prices to unprecedented levels.

2009: Koch presentation to ICE boasts that Koch is on the level of transnational big banks and can now be considered one of the world’s top five oil speculators

2010: Koch’s Tea Party front groups and lobbyists fight financial reforms designed to reign in the unregulated energy market

2011: As oil speculation again hits record highs, leading to record high oil prices, Koch’s allies in Congress fight to undermine new reforms and allow unchecked speculation to spiral out of control

(By the way, Goldman Sachs did the same thing with our food prices by introducing the GSCI, the Goldman Sachs Commodity Index.

Goldman Sachs' entry into the commodities market via the Goldman Sachs Commodity Index has been implicated by some in the 2007–2008 world food price crisis. In a 2010 article in Harper's magazine, Frederick Kaufman magazine accused Goldman Sachs of profiting while many people went hungry or even starved)

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