When you see the price of gas jump up 20¢ one day, do you wonder what caused it? Was there suddenly a shortage somewhere, did a refinery blow up, was there another accident with a deep water well? Raymond Learsy says it’s none of those things. Instead, the commodities expert explained on my America Weekend show that it’s the speculators and the oil companies that are manipulating prices — and the supply — of oil, gasoline, and natural gas. Worse, the only way to change things is new legislation, and that won’t happen when so much of Congress is bought and paid for by special interests like the oil industry.
Learsy has more on the subject in his book, “Ruminations on the Distortion of Oil Prices and Crony Capitalism.”