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Obama Blames Oil Manipulators; Who are the Real Manipulators?

Anonymous2012 Wrote: Apr 19, 2012 12:38 PM
Get your facts straight. Higher prices can be attributed to those who trade in the product. I am not saying the oil companies don't make a lot of money, but...those working in the oil fields are a great example of trickle down economics. They make enough money to support other folks in other businesses. It is those who are trading in the product that are jacking the prices up in a major way...they are leaches on our economy...they provide no service or labor as they buy, mark up and sell. It was their speculation that drove the prices up from below $50 / bbl.. As for shutting down refinerys...look to the EPA and those ultra wise folk in such places as Hollywood and the anti carbon movement.

The US and European embargo of Iranian oil is one of the factors behind the stubbornly high price of crude, trumping the huge slump in petroleum demand in the US. Although Iranian oil exports are down 33%, Iran is on a course for its third largest oil-related earnings ever. Thus, the primary beneficiary of high oil prices is Iran.

Rather than blame himself for the absurdity of the situation, president Obama blames oil speculators.

High Oil Prices Shield Iran From Sanctions

The Financial Times reports High Oil Prices Shield Iran From Sanctions.

The Centre for Global Energy Studies (CGES), a...

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