Mainstream Media nor Politicians will tell you who actually sets the price of GAS!

You will never hear the real reason we will all be staying home this summer for our “Staycations” which is exactly what Greenies would say is a wonderful thing and reduction of our carbon footprint and how we are all going the save the world and on and on and on ad nauseam!

The price of gas is predicted to hit almost a $1.50/per litre this summer and stay there forever!………….according to “those in the know”.

What they don’t tell you is the TRUE reason that Gas is going up and out of sight for more hard working Canadians. It’s not because there is a shortage, it’s not because this country or that territory are blowing the hell out of each other. It’s not because the Gulf of whatever is blockaded by warships or any other conflict going on world wide. It’s because SPECULATORS are trading oil like the commodity it is and is being run up like a huge bubble to make investors wealthy and that’s the bottom line. Speculation, unregulated and unsupervised speculation. Sound familiar? The same idiots that have screwed the World’s Finances over are at the heart of the Gas price increases!

But you won’t hear that on TV or in the newspapers because it may cause a bot of bother to the politicians of this world that are propped up by these oil weasels!

‘Perhaps 60% of today’s oil price is pure speculation’

by F. William Engdahl

Global Research, May 2, 2008

The price of crude oil today is not made according to any traditional relation of supply to demand. It’s controlled by an elaborate financial market system as well as by the four major Anglo-American oil companies. As much as 60% of today’s crude oil price is pure speculation driven by large trader banks and hedge funds. It has nothing to do with the convenient myths of Peak Oil. It has to do with control of oil and its price. How?

First, the crucial role of the international oil exchanges in London and New York is crucial to the game. Nymex in New York and the ICE Futures in London today control global benchmark oil prices which in turn set most of the freely traded oil cargo. They do so via oil futures contracts on two grades of crude oil—West Texas Intermediate and North Sea Brent.

A third rather new oil exchange, the Dubai Mercantile Exchange (DME), trading Dubai crude, is more or less a daughter of Nymex, with Nymex President, James Newsome, sitting on the board of DME and most key personnel British or American citizens.

Brent is used in spot and long-term contracts to value as much of crude oil produced in global oil markets each day. The Brent price is published by a private oil industry publication, Platt’s. Major oil producers including Russia and Nigeria use Brent as a benchmark for pricing the crude they produce. Brent is a key crude blend for the European market and, to some extent, for Asia.

WTI has historically been more of a US crude oil basket. Not only is it used as the basis for US-traded oil futures, but it’s also a key benchmark for US production. …………….read the rest here:

Who is the ICE?

Intercontinental Exchange (ICE)

An electronic market where energy commodities are bought and sold, operating out of Atlanta, Georgia. Some examples of commodities that are traded on the market are oil and natural gas. Because all transactions on this market are electronic, buyers and sellers can be from anywhere in the world. Furthermore, all trades on this exchange are conducted as over-the-counter trades.

Read more:

To sum this post up:

Editor: Here’s a tip to politicians and other mainstream media news outlets!  Start telling the people you are supposed to be addressing, in other words, “US the Citizenry” some Truth for a change!  Wouldn’t that be refreshing?  Just imagine a Politician or a “bingo-caller newsperson” making a truthful statement for change.  Don’t worry, WE can handle it, we promise we won’t take to the streets with pitchforks and torches and we won’t “paper your buildings” when we hear the truth.  “See who makes up the “players in the ICE”