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September 22, 2017

Archives:

14 Year Old Child Bride Facing Death Penalty for Murdering Husband -

Saturday, November 29, 2014

BREAKING: New Coal Disaster In West Virginia -

Tuesday, February 11, 2014

U.S. Hostage Freed by Colombia’s FARC Rebels (Video) -

Monday, October 28, 2013

Here’s Why The Zimmerman Verdict Matters -

Sunday, July 14, 2013

BREAKING! UK Government Spied On Allies At TWO G20 Summits (Video) -

Sunday, June 16, 2013

Swiss Support Tougher Asylum Legislation as Refugee Numbers Spike -

Monday, June 10, 2013

American Woman Killed in Syria Fighting for Terrorists, Syrian TV Claims (Video) -

Friday, May 31, 2013

CO2 in the Air Reached its Highest Level in Human History -

Friday, May 10, 2013

Terms of the New Abortion Bill Agreed by Irish Cabinet -

Wednesday, May 1, 2013

Boston In Lockdown As Manhunt Intensifies -

Friday, April 19, 2013

2 Dead, Dozens Injured After Boston Marathon Bombing -

Monday, April 15, 2013

Fast Food Workers in New York Stage Surprise Strike -

Saturday, April 6, 2013

N. Korean Rhetoric Provokes Missile Shield Deployment -

Wednesday, April 3, 2013

Eyewitness Accounts from Meiktila Massacre -

Wednesday, April 3, 2013

Sudan to Free All Political Prisoners -

Monday, April 1, 2013

A New Free Press In Burma Juxtaposed With Genocide: The World Will Be Watching -

Friday, March 29, 2013

Pressure Builds to End Ethnic Violence in Myanmar -

Friday, March 29, 2013

Activists Demand Action As Further Genocide Looms -

Tuesday, March 26, 2013

Cyprus Reaches Last-Minute Bailout Deal With EU -

Monday, March 25, 2013

Myanmar Muslims Brace for Possible Genocide -

Sunday, March 24, 2013

How the gas prices are manupilated by Koch Brothers and other Wall Street players

Why are gas prices surging to levels unseen since the 2008 oil spike again while the oil companies report record profits? Much of the problem is actually created by Wall Street traders here in the USA who gamble on oil prices, and powerful multinational companies that manipulate the supply and demand by stockpiling oil when the price is low and expected to rise in near future. And yes, so far this practice is perfectly legal.

Chilton, a commissioner at the Commodity Futures Trading Commission (CFTC), the federal agency that regulates commodity futures and option trading in the United States, says a few players control too much of the market, allowing them to push the price of gas higher and higher. The American public knows very little about the oil speculation industry because a conservative majority on the CFTC has refused to implement the mandates from the Dodd-Frank Wall Street Reform and Consumer Protection Act to curb abuses and provide transparency.

One of those players is the petrochemical multinational Koch Industries. Although oil extraction is a small part of the Koch’s oil business the company has major control over every other part of the market as its core venture is shipping crude oil, refining it, distributing it to retailers, then speculating on the future price. The company actively trades about 50 types of crude oil around the world and has trading operations in London, Geneva, Singapore, Houston, New York, Wichita, Rotterdam, and Mumbai.

When future oil prices are expected to rise, which means when demand is expected to exceed supply, big banks and companies like Koch start buying up oil and storing it in massive containers both on land and offshore to lock in the oil for sale later at a set price.

In 2008 Fortune magazine reported that Koch Supply & Trading leased the 2-million-barrel-capacity Dubai Titan that year, the third supertanker the company has leased, because the demand for oil storage was so high that Koch and other big investors who could not secure storage on land have resorted to leasing supertankers and using them as floating oil tanks.

Koch was one of the companies which lobbied aggressively against the President’s financial reform bill –mentioned above-, particularly on provisions related to transparency in the energy trading market. Representatives from the company’s lobbying firm even argued that moderate levels of the toxic chemical dioxin should not be designated as a cancer risk for humans at an EPA hearing last summer.

When we look at the money Koch has spent on lobbying to influence laws and regulations in Washington in recent years – from $857,000 in 2004 to $20 million in 2008- it is not surprising that Koch’s lobbyists and officials have successfully fought to preserve the industry’s tax breaks and credits, and defeated all attempts by Congress to regulate environmental hazards and transparency requirements.

At the beginning of February 2012, Koch and about 300 other –invitation only- individuals pledged approximately $100 million to defeat President Obama in the 2012 elections at a private meeting in California. And now at the end of February 2012 we are seeing a distinctive rise in the oil prices at the pump. I will not speculate any further as I have the utmost trust in the intelligence of our readers to connect the dots and fill in the blanks.

 

Emine Dilek (194 Posts)

Publisher/Managing Editor: Progressive Press. Contributing Editor: WVoN-Women's Views on News. Columnist: Palm Beach Woman Magazine. Former executive producer and radio host: WVR -Women's Voice Radio, Human Rights/Peace Activist, Aspiring Author/ Journalist/ Poet/ Blogger. Emine also appears as a revolving guest on PNN radio show -international political analyst-, and had been a guest on Liberal Fix and Brian Hammer Jackson Show. Her articles have been published in various publications such as The Vibe UK, The New Agenda, W.E.A Women @ Work, Amazing Women Rock and ICAHK.