Comments about ‘June gas prices jump in Utah’

Return to article »

Published: Tuesday, June 11 2013 5:20 p.m. MDT

Comments
  • Oldest first
  • Newest first
  • Most recommended
Fitz
Murray, UT

Reports on the amount of crude oil and refined petroleum products indicate that stock levels are high, that US is producing more of its crude, and demand for gasoline is down. Essentially, there is more than ample product. Yet gasoline prices are high. The question is why? The answer is that hedge funds, and like investors, are using petroleum products on the commodities market as investments with no intention of ever taking delivery of these products. This is the antithesis of the reason for the creation of the commodities market. These financial Goliaths should be banned from the commodities markets if they do not intend to take delivery of the product and process and sale it. If the commodities market kept to the reasons it was created and had proper controls in place, then crude prices would be much lower, as would gasoline prices. We have a government that has turned a blind eye to making sure that regulators, such as those overseeing the commodities market, are complying with the laws.

tabuno
Clearfield, UT

What may be happening is that U.S. gasoline companies are exporting gasoline to other countries keeping the supply in the United States and Utah low so that they can take advantage of profits on the global market. This isn't about homegrown family owned businesses who really care of their local customers.

one old man
Ogden, UT

But isn't it the patriotic duty of all of us who inhabit the 99% to do all we can to cheerfully support the speculators, marketeers, Wall Street tycoons, oil industry execs and the rest of the 1% who suck up as many dollars as possible so they may create all those jobs they are supposed to be creating?

Come on, fellow Americans, do your duty with a heart full of song and stop complaining. Mitt would be disappointed in you.

to comment

DeseretNews.com encourages a civil dialogue among its readers. We welcome your thoughtful comments.
About comments