Study finds financial speculation in oil led to higher gasoline prices
Dennis Sadowski (Catholic News Service)
June 30, 2011
―Excessive speculation in crude oil futures on the part of financial traders added 83 cents to the cost of a gallon of gasoline in May, two University of Massachusetts professors reported. “The problem is through the investment in commodity derivatives, (the speculators) are directly contributing to the increase in prices of gas and food around the world,” explained David Kane, a staff member at the Maryknoll Office for Global Concerns in Washington, which is part of the Americans for Financial Reform coalition. Click here for more.