spec·u·la·tion /ˌspɛkyəˈleɪʃən/ Pronunciation Key – Show Spelled Pronunciation[spek-yuh-ley-shuhn] –noun

1. the contemplation or consideration of some subject: to engage in speculation on humanity’s ultimate destiny.
2. a single instance or process of consideration.
3. a conclusion or opinion reached by such contemplation: These speculations are impossible to verify.
4. conjectural consideration of a matter; conjecture or surmise: a report based on speculation rather than facts.
5. engagement in business transactions involving considerable risk but offering the chance of large gains, esp. trading in commodities, stocks, etc., in the hope of profit from changes in the market price.

You’ve got to be kidding me!

Congress is zeroing in on speculators and the legal loopholes that some lawmakers say are adding as much as $70 to the price of a barrel of oil.

“Energy speculation has become a fine growth industry and it is time for the government to intervene,” said House Energy and Commerce Committee Chairman John Dingell, D-Mich., at hearing on Monday.

Oh My GOD, so we have people guessing what the price of oil should be, and do you think these people are also invested in energy futures?  Isn’t it like the fox guarding the hen house?  Didn’t Pete Rose get in trouble for this?

So, If all goes well, gas prices should lower back down into the $2 range this summer.  Much better than the $5 range that was forecasted!  So a few over-bloated oil companies got even richer.  Wow, what a scam!

Why do we have “Speculators” anyway?  You mean to tell me in 2008 they cant tell how much of a product is available so they take a guess?  Walmart knows when a can of beans is purchased from one of its stores and its automatically reordered from its warehouse.  Our government isn’t as smart as a simple department store.  Apparently its too much for us to expect our economy to be based on facts.

If I’m way off base with this somebody, please, fill me in.  I just don’t see the outrage that I expected.  “They” crank the price of oil up, which increased the price of EVERYTHING and we just mumble a bit and pay it.  Then we find out that the price of oil was really just a guess on what it should be and we just say, Yea! gas prices are coming down. I can’t believe the apathy.

I wonder what the next 4 years have in store.  If you have anything to add please do, I’d love to hear what other people have to say about this issue.  I apologise to my readers for the rant, but this just bugs me to no end.  Be sure to check back in with us to see more article about how you can be as green as you can be.