From the wonderful people causing the cost of gasoline and oil to skyrocket: The Kochs
As Commodity Futures Trading Commission (CFTC) commissioner Bart Chilton has explained, rampant oil speculation, which is at its highest level on record right now, is to blame for current prices.
To refresh your memory
From Inventing Oil Derivatives To Deregulating The Market
How Koch Became An Oil Speculation Powerhouse
In fact, Koch pioneered the risky speculation industry that dominates the world’s oil markets today, first by inventing oil derivatives back in the ’80s, then by working to kill off regulations. ThinkProgress has delved into the history of Koch’s oil speculation business and the following timeline spells out Koch’s leading role.
This is what happens when the GOP rule DC
– January 21, 1993. Wendy Gramm (wife of the destroyer Phil Gramm) makes first major move to deregulate oil speculation.
“On the final day of the [George H.W.] Bush administration, January 21, 1993, [CFTC chairwoman] Wendy Gramm … approved the rule exempting key energy futures contracts from government regulation and returned a great chunk of the energy market to the grand old days of unregulated futures trading”
Just some more information to share with your Libertarian hoodwinked friends.
This is a prime example of how free markets work......TO DISMANTLE THE MIDDLE CLASS.