The Looming Threat to Gas Prices: Strait of Hormuz Explained

So how long are speculators going to blame the possible closing of the Strait of Hormus for the rising price of oil? The strait has not closed and probably never will.

The greatest threat to gas prices is nothing more than the Speculators, Wall Street, and our government.

WHY NO REFINE OUR ON FROM ALASKA INSTEAD SENDING IT TO JAPAN OUR CHINA THE GOOD OLD USA HAS NOT REFIND ONE DROP ON ALASKA CRUDE OIL I WORK AT A REF. HERE IN CA. I KNOW. OK?

sounds to me to be just a ploy to raise oil prices ...because of just a threat.... COME ON

Iran, can't do nothing. this story is just pure popaganda.

The question is "Could gas hit $5.00 a gallon", you can count on it.

Did you hear him ? If they just TRY to shut it down ( which it can't ) oil would go up 50%. Iran knows it would get annihilated. U.S. oil speculators are behind this ridiculous story. Firtunes are being made by a select few.

If gas hits $5.00 a gallon or more you will see the american people cutting back on spending and with less money to stimulate the economy means we will head right back into another recession.

Iran has nothing to do with oil prices. All that you need to do is do a search on "who are the oil speculators". They are bankers. They, and their oil investor friends, have made many billions of dollars while they manipulate oil prices. Our government knows this because one time they were fined $50 Million for manipulating prices. Yep, they were fined $50 million after they stole billions thru fraud, and they were allowed to keep the billions. They guarantee profits for their investors because they have unrestricted power to do so. The more money pumped into oil, the higher the prices MUST go. When George Bush Jr took office oil was $25 a barrel and gasoline was $1.44 a gallon. What has changed ? Nothing. In the first ten months of 2011, the U.S. exported 848 million barrels (worth $73.4 billion) and imported 750 million barrels. The U.S. exports an average of 117 million gallons of fuel per day. There is no oil shortage and there has never been an oil shortage. Using this oil scam, trillions left the U.S. economy. Millions lost their jobs and their homes. President Obama recently said that higher oil prices means that the economy is prospering. I'd love to hear how that is possible. Washington knows what is going on and they still sit on their hands while the economy continues its decline and the true unemployment numbers of around 22% increases.

The high oil prices are caused by the oil speculators most of our oil comes
from Canada, US, Mexico, South America and less from the Arab world. We
should have no problems with gasoline prices someone is squeezing the American
consumer.

Remember the oil embargo during the Carter administration? Ronald Regan said to hell with you we will find our own oil here. This is what happened next. The embargo was lifted and the price of oil went into the basement. Why do we not try that?

If we are not buying iran's oil why should our prices go up. Take oil away from the speculators they are causing the higher prices

EVEN IF THEY COULD BLOCK THE STRAIT..HOW LONG COULD THEY HOLD IT 10 OR 20 HOURS....NO EXCUSE FOR THE GASGOUGHING PRICES..

Amazing how the media has helped to create the apathy related to high prices. The only reason for high gas prices is GREED. Nothing more.. We could have alternative fuel vehicles, but the ones that work are taken off the market. We could use our OWN oil, but that would drive prices down and the profits to the NOBILITY would shrink. Follow the MONEY... there is your answer. Those that argue that it isn't GREED have drank the Kook-Aid.

Well its $4.09 a gallon here in California right now, up from $3.74 just 2 weeks ago. So go ahead, lets get it up to 5 or 6 a gallon, and see what happnes. Eventually, Amercians are going to have had enough, and then watch out for the riots.

None of this #$%$ really matters. The harsh truth is that the American people cannot increase their income fast enough to keep pace with the overnight rising costs for oil. The wallstreet tycoons and the oil barons will make aastonishing unreal profits (again) but only at the cost of driving our slowly recovering economy right back to the great depression. How am I supposed to buy a hybrid car to offset the increase in the price of oil when my income is drastically reduced practically overnight by these oil fluctuations. This whole situation makes me sick.

There is no shortage of oil and gasoline production is at it's highest level. The problem is SPECULATORS who artificially run up the price to increase profit. This is not a new problem, but our current administration has failed to deal with it. Oil hit $140 /barrel under Busch but gas never saw $5.00 /gallon. So why do we face it now? This administration won't dare take on Big Oil in an election year. -- OMG 2012

It won't hit $5, the truth is big oil wants to make as much money as possible without breaking us... because even they know that the profits will dive if we give up... they want to use any and every excuse to raise the price through speculation without going over the top

So much for the so-called "liberal" media. The Looming Threat to Gas Prices is not the Strait of Hormuz; the threat is the speculators on Wall Street. Since America already has a surplus of oil (and supply and demand, therefore, is not a factor), oil prices have nothing to do with the Strait of Hormuz. Prices are being inflated by speculators on Wall Street. Traditionally, Republicans have always been in bed with Big Oil, e.g. the Bushes, Dick Cheney, etc. Yet, here we are trying to be convinced that it is the conflict in this small body of water and the Iranians that are the cause for the higher prices. If the media were truly liberal or just being truthful, it would point out that the Strait of Hormuz is just providing an excuse to those that control oil prices to bump them up.

"What about the greatest threat to all of us? Wall St's continued greed and avarice. They have manipulated oil up to $100 a barrel. This is an enormous threat to the world’s economy! If you don't know it; listen up! Oil refineries all over the world are shutting down! Refineries in Hawaii, St Croix, Houston, Philly, Delaware, other places in the US, and Europe are shutting down! They are shutting down for three reasons (1) The price of oil is too high. (Thanks speculators on Wall St!) (2) There is a glut of oil and distillates and no place left to store it. Some refineries are turning into oil storage facilities. They can make more money from renting tanks to banks and hedge funds than they can make by producing product. (3) Due to the European oil embargo on Iran, Iran is selling oil at a heavily discounted rate to Asian refineries who will sell refined products to US cheaper than American refineries can make them. Bottom line; WE ARE SO SCREWED!!! Repeal the Commodities Modernization Act of 2000 and the Financial Modernization Act of 1999 and get speculators out of the Commodities markets!